Creating Shared Value for Stakeholders

In light of the theme that runs throughout our most recent Explore & Discover newsletter – Issue No. 5, Big Rock is excited to share that “Sustainability In Practice” is our key initiative for 2019. Thus far in our growth, as a company we’ve staked our reputation on a commitment to economic, environmental, and socially responsible business that “does no harm” and creates value for society.

Just as we push ourselves to lead our scientific field, we’re seeking to lead by setting a new standard of stakeholder engagement and shared value.

Here are a few of the steps we’ve taken to put our values into practice so far:

Initiative in focus: Sustainability reporting

Later this year, Big Rock will be publishing its first ever sustainability report. But what is a sustainability report?

Sustainability reporting describes a company’s performance with respect to key environmental, social, and governance factors that are relevant to its stakeholders and its business. This process begins by determining what to report (materiality), using an accredited reporting framework, such GRI or SASB, to identify key metrics, then measuring, collecting and reporting the data.

And why publish a sustainability report? By measuring our performance, Big Rock can improve in the following areas:

• Identify operational improvements and efficiencies
• Strategically manage risks and implement mitigation planning
• Establish internal benchmarks to set appropriate goals and targets to meet overall business strategy
• Proactively engage and inform our stakeholders in a transparent, ongoing dialogue
• Improve brand value and maintain social license to operate

One of the thought leaders in the non-financial reporting and Environmental-Social-Governance space is international consulting firm, Ernst & Young. A recent report provides some relevant data about just how many of the world’s leading companies are adopting sustainability reporting. The trend is certainly indicating a growing response to not only address climate change-related risks, but also build stakeholder equity and strengthen social reputation.