Final jeopardy Flashcards
What is integrated reporting?
A firm’s annual financial report and sustainability report are combined into one report.
What is the Task Force on Climate-Related Financial Disclosures (TCFD)
In 2019, Larry Fink, CEO of BlackRock, declared in his annual Letter to
Shareholders that climate change would factor into all future portfolio decisions. This framework became mainstream following this statement as the new standard for assessing climate change risk management.
What is the Social License to Operate?
Defined as “the ongoing acceptance and approval from local communities and other stakeholders” (Thomson and Boutilier,2011, p. 1779).
What is a Core Competency?
A collection of activities that cross divisional boundaries, is wide-spread
throughout the corporation and is something the corporation does exceedingly well.
What is inventory?
Raw materials, Work-in-process and finished goods are three types of what, held by a firm.
What are Willard’s “Sustainability Stages?”
- Pre-Compliance
- Compliance
- Beyond Compliance
- Integrated Strategy
- Purpose and Passion
What are biological materials and technical materials?
Give examples of each.
Industrial ecologists consider two types of materials under the
concept of circular economy.
Biological material - wood. Technical materials - how to make the furniture.
What are Closed-Loop Supply Chains?
Supply chains consist of a forward (primary) supply chain and reverse (secondary) supply loops for products, components or materials.
What is divestment?
A concept in sustainable finance when investors move away from carbon-intensive
investments.
What are product, promotion, place, and price?
What are the four Ps in green marketing Also give an example for an existing product.
What is greenwashing and what are two possible sins of it?
A process in which false claims are made about a product to make it seem environmentally friendly/green. Possible Sins?
Vagueness, Hidden Trade-off, No Proof, Irrelevance, Lesser of Two Evils,
Fibbing, Worshipping False Labels.
What is Agent-Principal problem?
Exists when interests of individuals that act as agents to manage company, do not
align with interest of the firm’s stockholders.
What are Small and Medium Sized Enterprises (SMEs).
They account for ~52% of GDP and more than 99% of all business in Canada.
What are The Challenges for SMEs with sustainability?
1) Resource Constraints (Financial, Human, Time)
2) Clear alignment with core business?
3) Less formal management structures
What are transnational corporations?
In 2016, 69 of the largest economies in the world by revenue
represented this type of firm.
