Smart planning sets the stage for a successful reporting season
It’s that time of year again – and we’re not talking about back-to-school. Many companies are well into planning their annual and sustainability reports. If you're not there yet, this post is meant to give you a gentle nudge.
At Craib Design, we use a five-phase process as a framework to help keep projects on track. This is the first of five posts to help get you there, though none is more critical than Phase 1: Strategy & Planning. In this initial stage, we work with clients to establish the overall direction for their reports.
Goals and objectives
Peer group analysis
Stakeholder insights
Summary/thematic outline
Budgets/schedules
Brand guideline review
A few key questions we ask during the Strategy & Planning stage include:
Have objectives changed since the last report?
Have you benchmarked against peers?
Have you received any stakeholder feedback that will influence the content?
Do you need to complete a gap analysis or update your materiality assessment?
What is the status of your data collection?
Are roles and responsibilities clearly established within your team?
Do you have up-to-date brand toolbox?
We draw upon our experience with numerous clients across many industries to ensure your project stays on track.
Planning becomes even more critical considering the International Sustainability Standards Board (ISSB) reporting requirements headed our way for the FY24 reporting cycle. The ISSB is set to introduce a global baseline of sustainability reporting standards, which will impact companies' need to align their annual and ESG reporting. We are often asked to help you set these parameters.
Many companies will now need to publish their annual report and sustainability reports simultaneously. There was more flexibility in the past, and this alignment of deadlines compresses schedules for sustainability reporting, even as people are doing the heavy lifting of transitioning to the new requirements, such as the ISSB standards. This leaves little room for missteps in planning.
In practice, many actions and decisions we group into Strategy and Planning are ongoing throughout the year. At any point, the company advances its strategy, understanding stakeholder impacts evolves, reporting frameworks change, and peers raise the bar with interesting disclosure. Our process framework serves as a helpful checklist to identify gaps that must be addressed.
Like any task, getting started can often be the most daunting part of the project. A clear strategy and detailed work plan will chart a path to success. Also, it doesn't hurt to know people who have been doing this for a long time.
If you find yourself in the planning stages of your report and have any questions, please reach out to discuss.