Sustainability reporting has become integral for companies looking to showcase their commitment to environmental, social, and governance (ESG) values. A world-class ESG, CSR, or Sustainability report is more than just numbers; it embodies a company’s dedication to responsible business practices. Let’s explore what it takes to create such a report, drawing lessons from Uber and Vontier.
Purpose and Values
A world-class report begins with a clear purpose. Uber aims to “create best-in-class verticals,” while Vontier is “Mobilizing the Future to Create a Better World.” These guiding principles set the direction for their sustainability efforts. (fig. 1)
Materiality Assessment
Regular assessments are vital. Both Uber and Vontier conduct annual assessments to identify priorities. Uber added “innovation and digitalization” in 2023, reflecting their adaptability.
Leadership and Governance
Leadership sets the tone for the entire organization and plays a pivotal role in driving sustainability efforts. Both companies showcase this through letters from various C-level executives. Uber features separate letters from their CEO and Chief Legal Officer on the same page, while follows up its CEO Letter with a Q&A from a key Sustainability Leader. These letters emphasize commitments to climate, safety, diversity, and ethical behavior. (fig. 2,3)
Highlights
Highlight measurable achievements. Uber reports zero-emission vehicle trips, EV growth, and science-based targets. Vontier emphasizes emissions reduction and sustainability certifications. Both companies focus on employee engagement, diversity, and corporate giving, emphasizing positive social impact. (fig. 4)
Innovation and Technology
Innovation and technology are key drivers of sustainability. Both companies leverage cutting-edge solutions to meet customer needs and reduce their environmental footprint. Vontier uses video integration to highlight a featured project with adds interactivity and engagement to the report. (fig. 5)
Governance and Compliance
Ethical governance and compliance with laws and regulations are fundamental. Uber and Vontier both emphasize their commitment to integrity and ethical behavior, with every employee adhering to a code of conduct. This commitment ensures that sustainability efforts align with ethical standards.
Community Impact
Vontier’s community involvement and philanthropy doubled in impact in 2022, with over 4,000 participants from 13 countries during their “Day of Caring.” The design shows how Vontier donated over $770,000 through the Vontier Foundation, focusing on disaster relief, environmental initiatives, education, social justice, and local communities, marking a 50% increase from 2021. (fig. 7)
Employee Well-being
Employee well-being is a critical aspect of sustainability. Uber prioritizes the well-being of its drivers and couriers. Their sustainability report uses data and graphs to illustrate efforts in ensuring physical and mental health, safety, and satisfaction, emphasizing fairness and equity for all. (fig. 6)
ID&E Leadership
Leadership in fostering inclusion, diversity, and equity (ID&E) is vital. Vontier’s Chief People Officer plays a central role in driving ID&E initiatives, emphasizing the importance of leadership in creating an inclusive and diverse workplace. (fig. 8)
Continuous Improvement
Continuous improvement is at the heart of sustainability. Vontier’s Vontier Business System (VBS) serves as an engine for driving sustainability through innovation, resource efficiency, and customer focus. This commitment to improvement ensures that sustainability remains a core aspect of the company’s operations. (fig. 11)
Reporting Frameworks and Sustainable Development Goals
Uber aligns its sustainability reporting with key frameworks such as SASB (Sustainability Accounting Standards Board), and it actively contributes to the United Nations Sustainable Development Goals (SDGs). These frameworks provide a structured approach to reporting and emphasize Uber’s global commitment to sustainability and responsible business practices. (fig. 10)
Awards and Recognition
Uber values third-party recognition for sustainability and diversity efforts. These awards validate their importance and demonstrate Uber’s commitment to employees, consumers, and the public. In 2022-23, Uber received notable recognitions, reinforcing their impact. (fig. 9)
Creating a world-class ESG/sustainability report is a multifaceted process that involves clear purpose, materiality assessments, leadership commitment, measurable achievements, and a focus on various sustainability aspects. Uber and Vontier serve as prime examples of how companies can integrate sustainability into their core strategies to create lasting value for all stakeholders.
