Big Yellow asked Simply Sustainable to undertake an in-depth, tailored benchmarking and gap analysis of its sustainability reporting and communications against current and best practice, in preparation for a refresh of its future reporting and communications strategy.
We conducted a two-stage analysis. The first, a detailed benchmark of Big Yellow’s reporting and online communications against six pre-identified peers which considered areas such as; alignment to corporate strategy, approach to stakeholder engagement and materiality and how progress and performance is communicated, among others.
Secondly, we reviewed Big Yellow’s latest reporting against the main requirements and principles of the Global Reporting Initiative (GRI) standards.
In the final report and presentation, based on our findings from the analysis, we identified key strengths and areas for improvement in the current approach, with specific recommendations tied to each area.
We focused on areas and recommendations that would add the most value to Big Yellow’s non-financial reporting, with a clear understanding of the business need and appetite. Since this project, Big Yellow has enhanced a number of areas based on our recommendations, including:
• An updated sustainability policy and strategy in the public domain.
• Closer alignment of reporting against GRI standards, including a published content index to accompany its 2018 report.
• Strengthening of performance measures and targets.
“Simply Sustainable conducted a thorough benchmarking exercise and gap analysis for us, which allowed us to build our refreshed policy and align our external reporting approach to industry and broader standards. Nicola, Alasdair and team delivered insights and value to our business and were a real pleasure to work with.”
Gabriella Zepf, Head of CSR, Big Yellow Group PLC