Are you looking to get the most value out of your sustainability reporting efforts? More recognition? More business?
If you are a business that is incorporated in the State of Delaware, I have great news for you!
The Transparency in Sustainability and Responsibility Certification Act (the “Act”) is the Delaware state legislation designed to establish a voluntary disclosure regime to foster dialogue around sustainability and responsibility among participating Delaware business entities and their various stakeholders.
Because issues relating to sustainability and responsibility are fact-specific and fact-intensive--and may vary greatly depending on, among other things, the size of the entity, the nature of its business and operations, and the industry in which it operates--the Act does not prescribe specific standards, measures of performance, or criteria for evaluating performance that apply to entities generically. Rather, consistent with the enabling approach of Delaware business laws generally, the Act requires each entity seeking certification under the Act to adopt principles, guidelines and standards to guide its business activities in a sustainable and responsible manner, as well as metrics for assessing whether it has met its objectives. The Act contemplates that each entity will adopt such standards and metrics on the basis of, and in reliance upon, advice of reliable third-party advisors.
Delaware’s brand value, worldwide recognition, and respect will enable an entity that obtains and maintains its Delaware Certificate of Transparency to achieve value in foreign capital markets, for example, in those countries where the European Union Non-Financial Reporting regulations are already in play.
Why should you consider Sustainability Reporting?
Sustainability is here to stay. Investors, customers, potential employees are all looking for information about your sustainability. They will get information one way or another. Take ownership of your sustainability story and tell it the way you want it told. And get the investment, market share and talent you have earned;
Transparency through non-financial reporting allows the marketplace to monetize what you are doing to be more sustainable and that contributes to your bottom line through improved reputation, employee retention and attraction, and brand value.
Compliance with regulations, obtaining recognized certifications, and adopting standardized reporting frameworks improves the comparability and credibility of your company’s reporting, thus improving market share. One example of that is Delaware’s Certificate of Transparency.
How can a Sustainability consulting firm help you make the most of Delaware’s Voluntary Sustainability Certification Law?
KERAMIDA’s Sustainability Services group can help you evaluate the implications of Delaware’s “Transparency in Sustainability and Responsibility Certification” Act on your company. We also can train you to use the internationally recognized GRI Standards as a framework for your reporting and provide ongoing support throughout your reporting process. And, even if Delaware’s “Transparency in Sustainability and Responsibility Certification” Act does not apply to you, KERAMIDA can help you strategically consider other opportunities for brand recognition and address the risks and opportunities that may emerge if your competitors or customers are eligible for Delaware’s new Certification. For more information about our Sustainability consulting services, please call us today at (800) 508-8034 or contact us here.