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A24 > Alternative Reporting > Flashcards

Alternative Reporting Flashcards

1
Q

What is sustainable development?

A

development that meets the needs of the present without compromising the ability of future generations to meet their own needs

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2
Q

sustainable development encompasses issue such as?

A

intergenerational equity
intragenerational equity
eco-justice
eco-efficiency

These are important global and national questions but also have significant corporate and individual elements.

e.g. Alberta Oil Sands

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3
Q

Sustainability reporting: also known as or can include?

A

corporate social responsibility reporting, social audit, environmental reporting

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4
Q

A sustainability report refers to a report that

A

not only presents information about the economic value of an entity, but provides information upon which stakeholders can also judge the environmental and social impact of an entity.

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5
Q

Sustainability reporting useful as

A

Useful not only for reporting purposes but also as a tool to integrate sustainable practices into a business/organisation

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6
Q

Reasons for companies adopting sustainable practices:

A 
compliance
voluntary activity
strategic activity.
Companies need to: 
adhere to the Environment Protection Act 
utilise a risk management approach.
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7
Q

Voluntary CSR activity by organisations can utilise an:

A

Altruistic or strategic approach

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8
Q

altruistic approach:

A

Guided by an ethical or moral stance.
Can involve philanthropy or recycling initiatives.
May increase profits by enhanced reputation or market share.

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9
Q

Strategic approach:

A

Helps environment, society and business operations.

Creates a shared value for the organisation and society.

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10
Q

what are the four sustainability themes?

A
  1. governance (operating with intergrity; climate change)
  2. People (health of people/safety)
  3. Environment (greenhouse gas emission, water, biodiversity, land)
  4. Society (human rights, positive contribution to society, engage with community)
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11
Q

Sustainability reporting – Benefits for businesses

A
  • improvement management of risk
  • formalising and enhancing communication with key stakeholders
  • attracting/retaining competent staff by entity’s values
  • ability to benchmark performance within and across industries
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12
Q

what is environmental reporting?

A

subset of sustainability reporting.

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13
Q

relationship between environmental performance and environmental disclosure?

A

propose poor environmental performance = greater levels or higher quality environmental info to address potential legitimacy threat
better economic performance

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14
Q

4 of guidelines for sustainability reporting?

A
  1. Global reporting initiative
  2. Carbon Disclosure Project
  3. Climate Disclosure Standards Board
  4. International Org for Standardisations
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15
Q

Global Reporting Initiative (GRI)

A
  • to develop globally accepted reporting framework to enhance quality of SR
  • aim to enhance transparency, comparability and clarity
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16
Q

Carbon Disclosure Project (CDP)

A
  • the power of information disclosure to drive organizations to measure, manage and reduce their impact on the environment and build resilience, while providing high quality information to the market
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17
Q

Climate Disclosure Standards Board (CDSB)

A

Help organizations prepare and present environmental information in mainstream reports, to provide consistent, comparable and clear decision-useful information for investors

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18
Q

International Organisation for Standardisation (ISO)

A

Provide guidance on how businesses and organizations can operate in a socially responsible way.
e.g. prevention of pollution, climate change, sustainable resource use

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19
Q

Sustainability reporting – Stakeholder influences

A
  • entities following global reporting initiative required to undertake stakeholder assessment as part of reporting process to reduce risk and manage reputation
20
Q

Sustainability reporting – Stakeholder interests

shareholder

A
  • improve entity value and effect investment decisions
21
Q

Sustainability reporting – Stakeholder interests

customer

A
  • interest in source of product and seek ‘green’ or ‘fairtrade’ products
22
Q

Sustainability reporting – Stakeholder interests

fund investors

A

= invest on socially responsible grounds

23
Q

Sustainability reporting – Stakeholder interests: Community groups

A
  • invested in services and facilities offered in local community
24
Q

Sustainability reporting – Stakeholder interests

Media

A

voice concerns and set agenda relating to sustainability issue

25
Q

Sustainability reporting – Stakeholder interests

gov and regulators

A

some jurisdictions, required to monitor reporting of sustainability or environmental issue

26
Q

Sustainability reporting – Stakeholder interests

creditor/bank

A

consider environmental impacts of projects they fund

27
Q

Ethical investment: concerned about?

A

More broadly many institutional investors are concerned about the economic, financial and regulatory risks of global warming.

28
Q

Climate change and accounting: two protocol?

A

Kyoto protocol and Paris protocol

29
Q

Climate change and accounting Kyoto protocol?

A
  • commit to carbon emission reduction
30
Q

Climate change and accounting : Paris protocol

A

UN Climate Change Conference

- objective to achieve legally binding agreement on climate from all nations

31
Q

Emissions reductions schemes: purpose?

A

to mitigate, or reduce climate change in response to these protocols

32
Q

Emissions reductions schemes: Two approaches?

A
  • Emissions trading scheme (ETS) are designed to control emissions by allowing participants to trade excess emissions permits.
  • Carbon taxes where a levy is paid based on the amount of emissions or GHGs.
  • Combinations of both approaches are also possible.
33
Q

Integrated reporting: origin and aim’/

A

Initiative of the International Integrated Reporting Council (IIRC) with the aim

to create a globally accepted integrated reporting framework to bring together financial, environmental, social and governance information in a clear, concise, consistent and comparable format

34
Q

Integrated reporting now?

A
  • in future lead to single report (primary report) but now voluntary
35
Q

Mandatory Sustainability Reporting Requirements:

in Aus?

A

The Corporations Act 2001 requires directors to outline the company’s performance in relation to environmental regulations.

The National Greenhouse and Energy Reporting Act 2007 (NGER Act) introduced a national framework for reporting and dissemination of information about greenhouse gas (GHG) emissions and energy use by certain corporations

36
Q

International Integrated Reporting Council (IIRC): Goal:

A

achieve reporting framework that:

  • internationally agreed
  • communicates the strategy, business model, performance and plans of an organisation
  • reflects the use of and effect on all of the resources
  • show interdependencies of success of org and value it creates
37
Q

Need for integrated reporting:

A

value critical for business managers, and increasingly connected to short- and long-term business success and risk management.

reflects, requires and assists integrated thinking within the organisation

38
Q

Integrated thinking: what is it?

A

is about considering the broader range of resources and relationships the organisation depends on
e.g. do stakeholders know your values, access to info they need?

39
Q

what are the six capitals for business model?

A

financial, manufactured, human

intellectual, natural, social

40
Q

what is business model?

A

how org create and sustain value in short, medium and long term

41
Q

The six capitals : financial

A

The pool of funds that is:

available to an organization for use in the production of goods or the provision of services

obtained through financing, such as debt, equity or grants, or generated through operations or investments

42
Q

The six capitals: Manufactured?

A

Manufactured physical objects available to organization for use in production of goods or provision of services, including:

buildings
equipment
infrastructure (such as roads, ports, bridges, and waste and water treatment plants)

Manufactured capital often created by other organizations, but includes assets manufactured by the reporting organization for sale or when they are retained for its own use.

43
Q

Six capital: intellectual

A

Organizational, knowledge-based intangibles, including:

intellectual property, such as patents, copyrights, software, rights and licenses
“organizational capital” such as tacit knowledge, systems, procedures and protocols

44
Q

six capital: HUman

A

People’s competencies, capabilities and experience, and their motivations to innovate, including their:

  • support for an organization’s governance framework, risk management approach, and ethical values
  • ability to understand, develop and implement an organization’s strategy
  • loyalties and motivations for improving processes, goods and services, including their ability to lead, manage and collaborate
45
Q

six capital: social and relationship

A

The institutions and relationships within and between communities, groups of stakeholders and other networks, and the ability to share information to enhance individual and collective well-being, including

  • shared norms, and common values and behaviours
  • key stakeholder relationships, and the trust and willingness to engage that an organization has developed and strives to build and protect with external stakeholders
  • intangibles associated with the brand and reputation that an organization has developed
  • an organization’s social license to operate
46
Q

six capitals: natural?

A

All renewable and nonrenewable environmental resources and processes that provide goods or services that support the past, current or future prosperity of an organization. It includes:

air, water, land, minerals and forests
biodiversity and eco-system health

A24 (11 decks)

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