42 GOVERNANCE | LEGAL SECTOR SUSTAINABILITY INSIGHT 2016 SUSTAINABILITY REPORTING Reporting is a universally accepted component of sound organisational planning and strategy. It is an important tool for evaluating reward for effort by measuring and communicating issues, commitments, targets and performance. Sustainability reporting and strategy development go hand in hand. Both require engagement with stakeholders to assess the most important opportunities and threats. This engagement leads to a more meaningful understanding and articulation of an organisation’s goals and strategies. Publishing an organisation’s reporting provides an additional element of transparency and honesty. Public sustainability reporting supercharges the meaningfulness of organisation’s commitments and acceptance of their responsibility to address them. Providing honest information to stakeholders builds trust and reputation by demonstrating openness and accountability. Reliable public sustainability reporting is increasingly of interest to a range of stakeholders who care about the values, priorities, performance and longer-term investment value of an organisation. Law firms benefit from telling their sustainability story to customers, employees, allies, owners and sometimes to regulators. Expectations about the scope, detail, rigor and comparability is continuing to build among this group as more organisations provide reports and demonstrate their commitments. Companies releasing public sustainability reports are seen as sustainability leaders and innovators who can expect to build deeper relationships and more effective interactions with leading customers, employees who also share these values and priorities. AusLSA REPORT PROMOTED ADDITIONAL SUSTAINABILITY REPORTING 28% 44% 16% 13% Yes No Currently in Development Not Reported 31% 47% 13% 9% Yes No Currently in Development Not Reported PROMOTED REPORT CSR / ENV