What do you mean by Corporate Sustainability Reporting? Discuss the benefits and key drivers of sustainability reporting.

Corporate Sustainability reporting is a process for publicly disclosing an organization's economic, environmental, and social performance. Through sustainability reporting, organizations report on progress against performance goals not only for economic achievements, but for environmental protection and social well-being. A sustainability report is an organizational report that gives information about economic, environmental, social and governance performance. Sustainability reporting aims to communicate an organization's sustainability priorities, policies, programs and performance to its investors. It comprises information on how a company, proactively and beyond regulations, acts responsibly towards the environment around it and works towards equitable and fair business practices and brings to life products and services with lower impacts on the natural environment. Such a report describes how a company has implemented a greener supply chain, has engaged with local communities, is helping tackle climate-change issues, or is "innovating for the poor". The benefits of Corporate sustainability reporting includes: Increased understanding of risks and opportunities Emphasizing the link between financial and non-financial performance Influencing long term management strategy and policy, and business plans Streamlining processes, reducing costs and improving efficiency Benchmarking and assessing sustainability performance with respect to laws, norms, codes, performance standards, and voluntary initiatives Avoiding being implicated in publicized environmental, social and governance failures Comparing performance both internally and between organizations as well as among external sectors External benefits of sustainability reporting can include: Mitigating - or reversing - negative environmental, social and governance impacts Improving reputation and brand loyalty Enabling external stakeholders to understand the organization's true value, and tangible and intangible assets Demonstrating how the organization influences, and is influenced by, expectations about sustainable development The key drivers of sustainability reporting are: Regulations Customers Loyalty NGO's and the media Employees Peer pressure from other companies Companies themselves Investors