Faced with new and rapidly approaching compliance obligations, companies often settle for a short-term firefighting approach, which at first glance implies a low-cost solution. However, this course of action - dealing with new requirements as they arise - has a major drawback. It lacks an overarching vision, neglecting the opportunities for value creation from adopting a more holistic and long-term view. By limiting themselves to the task of meeting immediate compliance obligations, companies will find themselves constantly trying to keep up with fast-moving, ever-changing sustainability regulations. Rather than planning efficiently and strategically, they will be burdened with an increasing reliance on short-term, costly reporting solutions.