Each month, we analyse some Google search and trends data and one of the interesting data points is the spike in interest in “Impact Reports”. There has been a clear uptick in interest over the past few months, but what is driving this?
Every business already communicates its financial performance through annual reports and financial statements. These are well-established tools to keep investors and regulators informed, but in a marketplace where trust, accountability and impact matter as much as profit, financial reports alone are no longer enough.
Reports have evolved from a single document to an expansive suite of publications that speak to one another. This principle is echoed in the Practice Note to King III, Chapter 9, which explains that the format of the integrated report is less important than showcasing the board’s ability to integrate their thinking. It clarifies that an organisation may choose a single integrated report or a suite of reports containing integrated information. Ultimately, boards are expected to apply their collective judgement in determining the best reporting approach in the interests of the company.
Seen this way, reporting is not just about compliance. It is about creating trust and shaping perception. Understanding both the importance of reporting and the different types available – whether an Impact Report, Sustainability Report, or Integrated Report – has become paramount for businesses seeking to position themselves credibly in a competitive landscape.
Busting report jargon
In the reporting space, terms such as Impact Report, Sustainability Report, and Integrated Report are often used interchangeably. In reality, they serve very different purposes. Knowing which one your organisation needs depends on your audience, your level of reporting maturity, and ultimately your goals. Before we move forward, let’s first align on the different reports.
An Integrated Report provides a concise, holistic view of how a business creates value over time by combining financial and non-financial performance. In South Africa, this approach is guided by the King IV Report on Corporate Governance and the International Framework. Integrated Reports also carry a compliance function, since they are required of JSE-listed companies on an apply or explain basis. They are not only a governance requirement, but also a strategic tool for reflecting integrated thinking and demonstrating how strategy, risk, and performance connect to long-term value creation.
A Sustainability Report is a disclosure document that tracks environmental, social, and governance (ESG) risks and performance. These reports often draw on multiple frameworks such as the Global Reporting Initiative (GRI), the IFRS Sustainability Disclosure Standards (S1 and S2) issued by the International Sustainability Standards Board (ISSB), and the JSE Sustainability Disclosure Guidance. One of the biggest challenges with sustainability reporting is the absence of a single, uniform framework, which makes comparability across companies and sectors difficult.
Despite this, regulators, investors, and analysts increasingly expect companies to publish detailed, reliable data on their sustainability performance.
An Impact Report takes a different approach. It is storytelling-driven and focuses on the real-world outcomes of an organisation’s activities. Instead of concentrating only on compliance, it showcases tangible results such as jobs created, skills developed, emissions reduced, or communities uplifted. This format appeals to a wide set of stakeholders, from investors and boards to employees, customers, and communities who want to see evidence of meaningful change.
The distinctions matter. Organisations that want to meet governance and listing requirements prepare an Integrated Report. Those that need to satisfy technical disclosure obligations publish a Sustainability Report. Companies that aim to connect and inspire stakeholders use an Impact Report.
Global and local research underscores the need for impact reports. PwC’s 28th Annual Global CEO Survey: Sub-Saharan Africa perspective found that 14% of South African CEOs see climate change as a key threat in the next 12 months, while 17% cite social inequality as a major risk – this is more than double the global average of seven percent.
Not optional
From an investor standpoint, PwC’s 2024 Global Investor Survey revealed that 71% of investors believe sustainability should be embedded directly into corporate strategy, and 72% view a company’s ability to manage sustainability-related risks as a critical investment factor. Consumers are equally vocal: according to PwC’s 2024 Voice of the Consumer Survey, 93% of South Africans report experiencing the disruptive effects of climate change in their daily lives, compared to 85% globally.
For South African companies, transparency on social and environmental performance is no longer optional. It builds trust with consumers, gives investors confidence and strengthens credibility with boards and regulators. This makes impact reporting a strategic part of corporate communication, not just a compliance exercise. Reports are the channel for delivering that transparency, turning data into a story that stakeholders can understand and act on.
This isn’t mere theory. In June 2025, PwC released a report titled: “Are you reporting for a sustainable future?” The study the report is based on benchmarked 13 JSE-listed companies, including Top 40 entities across banking, insurance, mining, and retail. It found that while many firms reference global ISSB standards, none have yet declared full compliance. The findings suggest that South African corporates are in transition, laying the groundwork for more consistent and comparable reporting.
We have been able to deliver Impact Reports across healthcare, water infrastructure, solar energy, and youth employment projects. Our experience confirms that effective Impact Reports are more than documents. They are tools that influence investment decisions, strengthen stakeholder relationships, and guide corporate strategy.
South African companies, whether listed entities, mid-sized businesses, or startups, stand to gain from embedding impact reporting into their strategy. By aligning with both local imperatives (like B-BBEE and social development) and global ESG trends, organisations can future-proof themselves, access new pools of capital and build credibility with stakeholders.
The real question is no longer “Do you need an Impact Report?” but rather “Can you afford not to have one?”
