Sustainability reporting and ESG are related but distinct concepts. ESG reports conform to a more specific set of criteria that companies can measure and report against, whereas sustainability reporting provides a wide-ranging overview of a company's sustainability initiatives, goals, and strategies, as well as its progress in achieving them. While reporting on ESG metrics is important from a stakeholder perspective, it is imperative that companies proactively implement strategies to improve environmental and social performance, and to ensure good governance practices.