Sustainability Reporting Simplified for Business.
Clients often ask us: “why should my small business report…why does this matter to us?” Even if your business is not yet subject to new disclosure laws and regulations, preparing your company now lays the groundwork for a more responsible and resilient business in the future. Companies that embrace reporting as an opportunity to communicate and lead on sustainability often realize tangible benefits.
Financial Gains: Sustainable improvements can lead to cost savings, new sources of funding, and investors.
Attracting New Customers and Employees: Research consistently shows that workers, especially younger ones, want their companies to demonstrate what they do about sustainability.
Enhanced Brand Reputation and Credibility: Sustainability helps companies focus on the risk matrix and materiality assessments that get ahead of reputational hazards.
Streamlined Regulatory Reporting, Risk Mitigation, and Compliance: Organizing a company’s data helps avoid costly regulatory and legal issues.
Innovation and New Revenue Streams: Often companies discover new ways of doing things, new product ideas, new revenue streams when the leaders examine their company’s data, resource use, and footprint through the lens of sustainability.
We’ve seen it with clients, again and again. As small- and medium-sized enterprises (SMEs) address data requests and requirements through their supply chains, field inquiries from customers, and prepare for future regulations, taking proactive steps on sustainability reporting becomes a strategic advantage leading to growth, efficiency, innovation, and impact.
© DevryBV Sustainable Strategies, 2025
Brief History of Sustainability Reporting.
The practice of sustainability reporting began in the 1980s and has grown in the decades since, becoming a fundamental expectation for many businesses as their stakeholders show increasing interest in environmental, social, and governance performance. And while it may seem that sophisticated and comprehensive sustainability reporting is only relevant to larger companies, small businesses play an important and essential role in advancing progress toward environmental and social goals and positively impacting people and nature. In many ways, SMEs may have the most to gain from sustainability reporting by increasing trust and confidence from investors, customers, consumers, and industry associations.
At DevryBV, we guide our clients through the Integrated Sustainability Framework to, first, measure, and then communicate their actions, progress, and results on sustainability. Communication through sustainability reporting is a way for companies to demonstrate their commitment to responsible business practices, yet we understand the unique challenges SMEs face as they consider how and what to report when faced with limited time and resources.
Lay of the Land. Path to Simplification.
The world of sustainability reporting has evolved into a comprehensive, if not fragmented, “alphabet soup” of guidelines, frameworks, and standards. For a small business, understanding the patchwork of acronyms and organizations can seem daunting, yet SMEs are increasingly faced with pressure from stakeholders to report on their environmental and social impacts.
As with many things, growth in the field of sustainability reporting has led to pros and cons: notable positives being the increased level of transparency and progress toward improved sustainability performance, and negatives including heavier reporting burdens and some redundancy or duplication of efforts in complying with multiple standards. Yes, reporting is an investment, but it won’t break the company’s bank, and it pays off.
Fortunately, the field has seen a considerable shift toward consolidation in recent years, partly due to emerging sustainability disclosure regulations and the merging of reporting frameworks and standards. A key driver of this streamlining of standards is the formation of the International Sustainability Standards Board (ISSB) within the IFRS Foundation. ISSB was established in 2021 at COP26 to create an efficient and simplified reporting landscape that offers investors comparable information on sustainability-related risks and opportunities.
In the years since its development, ISSB has absorbed and integrated the work of the Climate Disclosure Standards Board (CDSB) and the Value Reporting Foundation–including SASB and the Integrated Reporting Framework–to create high-quality and cohesive standards. ISSB has released the S1 and S2 standards to cover sustainability-related financial information and climate risks and opportunities, drawing on CDSB, SASB, and the Task Force on Climate-related Financial Disclosures (TCFD) as building blocks.
Recently, the European Commission announced plans for simplification of the requirements within the Corporate Sustainability Reporting Directive (CSRD) and the forthcoming European Sustainability Reporting Standards (ESRS), which require more comprehensive disclosures from companies, including some mid-sized and smaller businesses operating in or trading with the EU. Early indications are that the move toward simplification is aimed at removing duplication. Yet, there’s a lack of clarity on how far-reaching the changes will be and what they will mean for businesses. However, that lack of clarity shouldn’t become an excuse to avoid reporting. Remember, the idea is to use your reporting data to realize more profit and other benefits.
How to Get Started.
In the words of Mark Twain, “The secret of getting ahead is getting started.” SMEs can start simple and, over time, scale up their sustainability reporting in line with frameworks as they evolve. The key is to understand your audience and the type of information they seek. Our firm’s fact sheet on sustainability standards is a helpful starting point as companies explore the various standards and frameworks available to them, keeping in mind that new regulations and consolidation within the field will eventually lead to reduced complexity and greater efficiency.
In light of the significant recent changes to the field of sustainability disclosures, it is now time for SMEs to embark on their reporting journey. Doing so will result in financial, social, and environmental benefits for your company and help it stand out as a leader in responsible business. Want to get started? Feel free to reach out, we’d be glad to talk.
Katie Galloway is the Sustainability + Client Experience Lead at DevryBV. She has worked in the environmental field for over 20 years, holding roles in the corporate, nonprofit, and public sectors. Katie spent nearly a decade working in Aveda Corporation’s Earth and Community Care department, most recently serving as Director of the Aveda Earth Fund and Stakeholder Relations.
Cover image credit: Innov8social.
