Sustainability

Question 1

What is the definition of sustainability?

Answer 1

The ability to last

Question 2

The government has pushed what in recent year?

These encourage household to recycle and businesses to lower their carbon emissions.

Answer 2

Green policies

Question 3

Define sustainable development as stated by the Brundtland report

Answer 3

Development that meets the needs of the present without compromising the ability of the future generation to meet their needs.

Question 4

What three key areas did the Brundtland report highlight?

Answer 4

Economic growth
Environmental protection
Social Equality

Question 5

What is the triple bottom line?

Answer 5

This is the three elements of sustainable development.

Profit, planet and people

Question 6

What does economic growth cover in relation to sustainability?

Answer 6

Increasing the wealth of individual countries

Profit generated by individual organisations

Question 7

Can economic growth be pursued at the expense of the other two factors?

Answer 7

No

Question 8

The protection of what is key to sustainability?

Answer 8

The environment

Question 9

What are the three R’s related to protecting the environment?

Answer 9

Reduce, reuse, recycle

Question 10

Simply how can businesses help the environment?

Answer 10

Use less energy and consumable products

Question 11

How can organisations promote social equality?

Answer 11

Charitable donations
Using overseas clients where it can be assured there is reasonable pay and good working conditions
Supporting local incentives
Sponsoring local sports events that ‘give something back’

Question 12

Does an organisation only have to worry about social equality within the workplace?

Answer 12

No they should consider social equality in the local community to

Question 13

What does CSR stand for?

Answer 13

Corporate Social Responsibility

Question 14

Is there a legal requirement to produce a CSR?

Answer 14

No

Question 15

What does CSR report detail?

Answer 15

How the organisation takes responsibility in supporting sustainable development.

Question 16

What CSR initiatives can a business adopt?

Answer 16

Reducing emissions
Trading with organisations with a proven track record
Supporting charitable fundraising activities
Making donations to charity
Setting recycling targets for the organisation
Promoting car-share and cycle to work schemes
Using local suppliers where possible

Question 17

Should business show a balance on positive and negative information relating to CSR?

Answer 17

Yes they are expected to show the good and the bad if they choose to give detail

Question 18

Define public interest

Answer 18

The welfare of the general public in which the whole of society has a stake

Question 19

Do accountants have public interest duty and what does this include?

Answer 19

Yes they do and this includes

1) Ensuring the long term responsible management of resources used by their organisation
2) Contributing to the running of their organisation in a sustainable manner
3) Assessing and minimising the risks to the organisation, and to society as a whole, of not acting sustainably

Question 20

Should accountants promote sustainability to clients?

Answer 20

Yes but they must maintain objective

Question 21

What is reputational risk?

Answer 21

A risk of loss resulting from damage to an organisation’s reputation which could be as a result fo a poor attitude to sustainable development

Question 22

Accountants must promote sustainable practices in relation to what 6 things?

Answer 22

Products and services - sustainably sourced
Customers - supply sustainably
Employees - Good working conditions
The workplace - Green policies
The supply chain - Source sustainable suppliers
Business functions and processes - Review ongoings to ensure operations are responsible to sustainability

Question 23

Does sustainability rely on ethics?

Answer 23

Yes if you behave in an ethical manner you are most of the way to being sustainable

Question 24

What was the Brundtland Report titled?

Answer 24

Our Common Future

Question 25

When was the Brundtland Report published?

Answer 25

1987