"They cannot be one-size-fits-all," said Annette Stube, Director of Group Sustainability, Maersk Group.
"A fixed framework turns sustainability efforts into a compliance issue.
It takes out the innovation and engagement part of sustainability and prevents companies from really reflecting on what their role is in society."
Speaking from a business point of view, Stube
fellow panelist Mittler by saying that reporting can drive performance and change.
"It helps to open up a company," she
"Five years ago, Maersk
was very closed - communicating only to the authorities.
A new CEO came on board who had the drive to open up the company.
The Danish regulation and other drivers in society made up our minds that it was time to get on board."
Increasing transparency without the red-tape is the attractive option for many companies.
But touching on the practicalities of reporting, Stube
noted that it's important to have a systematic approach that's focused on the material issues.
"This is why we welcome the new G4 Guidelines," she