SustainCase: What benefits has sustainability reporting with the use of the GRI Standards sustainability framework brought to Isavia and its stakeholders?
The benefits of sustainability reporting with the GRI Standards is that stakeholders are consulted to determine the materiality of the report. Therefore, the information provided in the report is targeted to their interest, emphasizing transparency. The standards have also resulted in more focused CSR work within the company e.g. to identify improvements for action.
SustainCase: Isavia was the winner of last year’s award by Festa on sustainability reporting. In view of your sustainability reporting journey, is there any advice you can give to companies who are looking to take positive action on the environment, economy and society through sustainability actions and sustainability reporting?
Be focused and choose the materiality well based on the type of business the company is in. It is very important to connect the work and emphasize in the report to the corporate strategy. Sustainability actions and reporting should be looked at as a continuous improvement process – just by starting the journey companies are already taking positive actions.
SustainCase: There is a growing body of research (Oxford University, Harvard Business School, Mintel, UK’s Chartered Institute of Marketing, Morgan Stanley, Nielsen) that strongly suggests companies need to be part of the sustainable economy to survive. Can I have your comment on this?
There has been a growing demand from our stakeholders for social responsibility. Customers require companies to be responsible and employees want to work for companies that are responsible. This trend will only increase with new generations entering the workforce.
SustainCase: Millennials, the largest generation ever, are overwhelmingly pro-sustainability and are showing this with their every action on a personal level and as decision makers in businesses. Is this also the case in Iceland?
Yes, we see the same trend in Iceland.
SustainCase: What are, in your view, the most important economic, social, and environmental sustainability challenges Iceland faces today?
The most important challenge is the effect of climate change and the unforeseen consequences that will have on the life of people.
SustainCase: Global warming is, today, the most important challenge to sustainable development. How do you think Icelandic companies can help fight climate change?
The most important action Icelandic companies can do is reducing and then eliminate carbon emissions from their operation in any way they can and as fast as they can.
Samtök Atvinnulífsins facilitates GRI Certified Sustainability Training in Iceland
- 2-day FBRH GRI Standards and IEMA approved course (Mon 9 – Tue 10 March 2020)
This course prepares all participants to project manage a first-class sustainability report and succeed in taking all round sustainability action ASAP.
- 1-day FBRH GRI Certified “Integrating the Sustainable Development Goals (SDGs) into your reporting process”
Participants are taught the recommended methodology for choosing the right SDGs for action and how these can be addressed using the GRI Standards. It is important to note that the GRI Standards are the only sustainability framework that can address all the SDGs.