SUSTAINABILITY ADVISORY

TO B OR NOT TO B? 

In a noisy marketplace with consumers looking for positive businesses, it’s difficult for companies to differentiate their sustainability story. B Corp certification helps companies prove their sustainability credentials and demonstrate a purpose-driven approach.  

Companies that are B Corp shifted from a shareholder-led business model to a stakeholder-driven model that requires a complete examination and refocus of activities, operations, and the impact that each of these factors has on all stakeholders. Ultimately, B Corps use business as a force for good.  

To certify as a B Corp, companies must achieve a score of at least 80 points on the B Impact Assessment (BIA), which assesses companies’ performance in five key impact areas: Governance, Workers, Community, Environment and Customers. The certification doesn’t just evaluate a product or service; it assesses the overall positive impact of the company as a whole.  

How to B Better?  

Cooper Parry is B Corp certified and we can work with you if you want to B too.  

Our approach for B Corp accreditation covers the steps below:  

Food for thought  

B Corps reap remarkable benefits. Purpose-driven businesses see increased customer commitment, higher levels of employee engagement, and enhanced relationships with stakeholders, all while building a positive, future-proof business. A B Corp certification proves without question your purpose-driven approach.  

WHAT’S THE BIG DEAL? 

Demand for confidence in sustainability disclosures is growing as government regulations deepen and stakeholder expectations rise. The transparency requirements are no longer a complementary feature of the companies’ value proposition, but a need that must be integrated into the business operating model for long-term success and viability.  

The CP approach to Sustainability Assurance  

We provide assurance on your sustainability information, requirements, and achievements, tailored to your needs. Our main areas of focus are:  

• Assurance on sustainability reports 
• Compliance and alignment with specific standards or set of principles (i.e. Wrap Waste Measurement and Reporting, SECR) 
• Adherence to principles and labelling schemes (ie. Better Cotton Initiative, sustainable bonds issuance and bank covenants) 

Once the selected subjects and indicators are ready for assurance, we use the following approach:  

1. Obtain an impression of sustainability management. 
2. Assess the robustness of the sustainability data management systems, including internal control mechanisms. 
3. Verify the completeness, accuracy, and comparability of the data reported. 
4. Support management with recommendations for improvement of sustainability management and reporting. 

In providing third-party verification, Cooper Parry relies on two main types of standards, ISAE 3000 and ISRS 4400, as well as proprietary methodologies.  

ISAE 3000 offers two different types of assurance options – limited or reasonable assurance, depending on the level of evidence collected by the auditor to form a conclusion.  

ISRS 4400 is the standard for agreed upon procedures engagements. No assurance is provided by the auditor, but the users of the report will draw their own conclusions based on the auditor’s work.  

Food for thought  

Providing assurance on sustainability reporting helps enhance the quality of disclosures, and therefore provides both management and stakeholders comfort on the progress made towards set objectives. The growth in sustainable finance, including green bonds and loans, means investors also require greater transparency in sustainability disclosures.  

REPORTING SERVICES

As investors and other stakeholders are calling on companies to disclose more about their sustainability and environmental, social and governance strategies, sustainability reporting isn’t just the right thing to do. It’s becoming a necessity.  

A worldwide push towards more sustainable business practices has come alongside an ever-growing list of legislative documents requiring companies to disclose non-financial information.  

So, if regular sustainability reporting isn’t part of your sustainability strategy and program already, it should be.   

How can we make the reporting simpler for you?  

Whether you’re a first-timer or a seasoned pro, ESG reporting can be a complex and time-consuming exercise, and generally a bit of a minefield. Be it TCFD, GRI, ISSB or a wider Impact Report, we offer pragmatic and simple sustainability reporting solutions – helping you find the value in your sustainability report with less of the pain.  

We can take you through the full journey from deciding the most appropriate or required standards, guidelines and frameworks for your organisation, to helping you dig out the right data, establish a robust internal controls system and put in place a sustainable reporting regime.  

What is a carbon footprint?  

Calculating the carbon footprint of your business is the first step on your journey to net zero. A carbon footprint is the total greenhouse gas emissions caused directly and indirectly by your business, and is categorised into three scopes:  

Carbon measurement & reduction plan standards  

Whether you have mandatory emissions reporting like SECR or ESOS and need some assistance, or just want to get ahead of the market, the Sustainability team at Cooper Parry is here to help you.   

We measure your carbon footprint following the most widely used and globally recognised standards: The Greenhouse Gas Protocol Corporate Reporting and Accounting Standard and the Department for Environment, Food and Rural Affairs’ annual UK Government Conversion Factors for Greenhouse Gas Reporting.  

A figure of total tonnes of carbon dioxide equivalent emissions (tCO2e) will be calculated with a breakdown of sources and scopes. And we provide data visualisations demonstrating the key areas of emissions from your business and where to focus reduction targets. 

Food for thought – changes to SECR reporting requirements 

Streamlines Energy and Carbon Reporting (SECR) is a mandatory scheme that applies to large UK companies. Businesses within scope must report to Companies House on energy use and associated carbon emissions. A business in scope must meet two of the following criteria:   

• Employees > 250  
• Turnover > £36m  
• Balance sheet > £18m  

At the introduction of SECR, the government had not yet signed the legal commitment to be net zero by 2050, so we’re expecting an increase in stringency.   

To give you a taste, potential changes could include but aren’t limited to:   

• There are fifteen Scope 3 categories in total. At the moment, only ‘business travel’ is mandatory, but more may follow soon.   
• If your reporting is done in-house, you’ll need mandatory verification from an external source.   

There’ll be more emphasis on meeting targets. So, you should gain more visibility over your carbon footprint, allowing reduction targets to be set – and smashed.  

Food for thought – the road to sustainability reporting success  

WHERE DO YOU GET STARTED? 

At the start of your journey, it’s important to perform a materiality assessment. This is the backbone of your sustainability strategy. In plain terms, a materiality assessment takes stock of where companies can best impact or influence the sustainability agendas that matter most.   

How does it work?  

Having a third party help with your materiality assessment can lend credibility to your reporting and certifications. We’ll work with you to create a sustainability strategy that will make your employees eager to join in. And we’ll help you set goals that matter, measure metrics over time, and make reporting easier.  

To begin with, we survey your internal and external stakeholders. Based on the assessment, we identify the relative impact of a range of environmental, social, and governance (ESG) issues on the company’s performance, and their viability within the current market framework. Then, we categorise these issues into a hierarchy that can be used to guide strategy and help you provide a complete and accurate accounting of your sustainability to investors and stakeholders.   

How does an ESG materiality assessment add value?