BUS211F Sustainability Reporting - Online Version

We have a long history of reporting economic and financial data. Today’s common standards for financial reporting make it relatively easy to compare the financial accounts of one enterprise with those of another.However, financial accounts primarily report on internalities — what happens inside the enterprise, such as salaries, cost of goods, rent, and other operating expenses. They say little about how the business interacts with its surroundings, the externalities. As a result, many companies make decisions based on only part of the picture, where short‑term considerations often prevail.

No business operates in isolation. On the contrary, every enterprise affects climate, nature, and social conditions — and its own long‑term profitability is influenced by changes in these same areas. Climate risk, for example, has become an integral part of many companies’ risk assessments, particularly in sectors such as destinations, infrastructure, buildings, and real estate. For stakeholders to make sound, long‑term decisions, reporting must therefore provide a complete picture of the business, covering both internalities and externalities.

In turbulent times, expectations are rising for businesses and their leaders to demonstrate stronger corporate social responsibility as a natural part of corporate governance. Investors increasingly request sustainability information to assess risk factors related to climate, the environment, human rights, reputation, and financial exposure.

This course addresses current laws, standards, and practices for sustainability reporting. We take a closer look at the relationship between legal requirements, operational strategy, and corporate reporting.

Knowledge

After completing the course, the student should have:

1. In-depth knowledge of why sustainability is on the agenda and why business plays an important role
2. Good understanding of how sustainability reporting is linked to responsible corporate governance and risk management
3. Knowledge of the most important international reporting standards, regulations and reporting requirements related to sustainability
4. Insight into how sustainability reporting contributes to the development of the company's strategy
5. Understanding of how to define significant ESG factors for different industries and businesses
6. Knowledge of the relationships and contradictions between environmental and social factors

Skills

Etter fullført emne er studenten i stand til å:

1. Conduct a stakeholder mapping and materiality analysis
2. Structuring a process for implementing sustainability into the operational strategy of a business
3. Explain key sustainability areas and associated data in accordance with current legislation and EU directives
4. Be able to carry out sustainability reporting in practice

General competence

After completing the course, the student will have competence in:

1. Current regulations and be able to follow developments in the future
2. The relationship between strategy, goals, risk assessment, measures and reporting
3. How to Plan for an Effective Reporting Process
4. Be able to exchange professional views and participate in the public debate on the development of sustainability reporting practices
5. How corporate governance reporting can be a driver for good processes related to the risk assessment of internal and external conditions