This led to the emergence of the first guides or references that sought to guide the preparation of sustainability reports and in some cases begin to standardize the information presented based on incipient sustainability indicators, which over time have resulted in standards, norms and directives. increasingly specific (by topics or sectors) in terms of what to communicate and how to present it, linking this information with the strategy and operation of the businesses, as well as with the significant impacts on their future financial performance.
In this sense, we can see how today there is also greater interest on the part of some interest groups such as investors, authorities and regulators, in being able to know not only the sustainability performance of companies, but also their commitments, objectives and short, medium and long-term goals, the way in which they are identifying and managing risks, impacts and opportunities in environmental, social and governance matters, and how these issues could affect the financial future of the business.
This of course has also been reflected in sustainability reports, which can no longer be seen as a simple communication exercise based on reporting for the sake of reporting everything you have to imply that a lot is being done on the subject of sustainability, but rather which must be understood as a strategic instrument for the management of the most relevant issues and for accountability.
For this reason, we have sought to ensure that these reports focus on the topics that are truly the most significant for both the business and its stakeholders, based on the development of materiality analysis, which today is not only limited to the approach of impact on sustainability, but they are beginning to expand and combine with the financial approach, to encompass a double materiality that allows presenting a more comprehensive context and information about the company.