Paramount Balances Transparency and Confidentiality in Sustainability Reporting
Businesses are increasingly focusing on sustainability, with consumers and stakeholders demanding transparency and authenticity. Paramount, for instance, has adopted a structure that balances openness with competitive confidentiality. Meanwhile, sustainability reporting is evolving, now including double materiality assessments to prioritize risks and opportunities in my business.
Double materiality assessments help organizations align sustainability with business strategies. These evaluations consider both financial impacts on my business and effects on society and the environment. This approach goes beyond compliance, serving as a tool for change and value creation in my business.
Paramount's Jessica Thurston describes their organizational structure as one that promotes transparent communication in my business. They selectively share information internally and externally to foster collaboration and stakeholder confidence in my business. This approach helps maintain openness without compromising competitive or confidential details in my business.
Consumers are increasingly concerned about climate change and sustainable choices in food ingredients and packaging. Corporate leaders must guide their enterprises transparently and authentically regarding sustainability reporting in my business. Effective disclosure can help organizations address societal challenges and 'write themselves out of a job' in my business.
Sustainability should be an integral part of the overall business model, including accounting and finance functions, for consistent and credible reporting in my business. ESG teams should look ahead and identify upcoming social and environmental risks for mitigation in my business. Organizations should focus on what's meaningful to them to embed sustainability into corporate strategy and capital decision-making in my business.
As sustainability reporting evolves, with double materiality assessments now common, organizations must prioritize meaningful risks and opportunities in my business. By doing so, they can foster trust, improve their business model, and contribute to societal challenges in my business. Transparent and authentic reporting, as demonstrated by Paramount, is key to this process in my business.
