Getting Started: Sustainability reporting in healthcare
Sustainability reporting is a process to measure, disclose, and account for an organization’s environmental, social, and governance performance. It has become standard practice in healthcare organizations. However, simply reporting is not enough to create real change. Hospitals can focus on their long-term sustainability strategy through capacity strengthening for their leadership team and the healthcare workforce and embedding sustainability principles and practices into everyday decision-making and operations. A strategic plan helps move from what is actively being done to shaping what comes next.
We acknowledge and thank Siew Yoong Chen as the author of this guide. She has volunteered her time and expertise towards helping the Geneva Sustainability Centre develop this content.
Why sustainability reporting matters in healthcare?
Sustainability reporting and its benefits
Sustainable practices can lead to cost savings.
Worldwide, there is an increasing focus on sustainability. Many countries have mandatory reporting requirements for healthcare institutions.
Transparent reporting builds trust with patients, the workforce, and the community, enhancing the organization's reputation.
Identifying sustainability risks can help healthcare organizations prepare for future challenges.
Sustainability reporting often uncovers areas for improvement.
Key elements to gain the benefits of sustainability reporting
- A clear understanding of what sustainability means for the healthcare sector.
- Tailored guidance and support to advance on the journey.
- Capacity strengthening to address the challenges related to climate change.
- Metrics adjusted to the needs of the sector to help with progress tracking.
Including these, the Sustainability Accelerator Tool can help you with the long-term integration of sustainability in your hospital.
Different reporting concepts to consider
Environmental, social, governance (ESG) is a specific framework for organizations to measure and report on sustainable practices. It uses quantifiable metrics for ESG factors that companies can measure and report against. Primarily used by investors to evaluate corporate behaviour and determine companies' future financial performance.
Corporate social responsibility (CSR) refers to a company's voluntary initiatives to take responsibility for its environmental and social impacts. CSR is often seen as more philanthropic compared to ESG or sustainability reporting.
Key dimensions of sustainability reporting
Environmental: How an organization uses natural resources (such as water) as well as the impact of its operations on the environment and the communities it serves.
Social: How an organization interacts with stakeholders such as its healthcare workers, investors, and the local community.
Governance: How an organization is managed in a responsible way, with values such as transparency, respect for the environment, the community, etc.
Choosing the right framework for hospitals
Integrating sustainability into healthcare reporting isn't just about environmental metrics – it's about recognizing that the health of our communities is inseparable from the health of our planet. Hospitals should consider the following factors when selecting a reporting standard:
- relevance to the healthcare sector
- alignment with organizational goals
- stakeholder expectations
- regulatory requirements
- availability of resources for implementation
