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Sustainability > Topic 5 > Flashcards

Topic 5 Flashcards

1
Q

What is the purpose of Integrated Reporting in sustainability?

A

Helps communicate sustainability performance transparently, covering full cost identification, progress measurement, social impact, and verification of claims.

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2
Q

What challenges are associated with Integrated Reporting?

A

Lack of awareness among accountants, difficulty in quantifying costs, short-term focus.

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3
Q

What are current trends and strategies in sustainability for businesses?

A

Embrace Integrated Reporting, increase disclosures, adopt shadow reporting.

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4
Q

What is the role of HR in sustainability?

A

Embedding sustainability into company culture, promoting sustainable behavior, aligning actions with goals.

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5
Q

What responsibilities does a Chief Sustainability Officer (CSO) have?

A

Develops and implements sustainability strategies, works with HR to integrate sustainability.

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6
Q

Why is Diversity, Equity, and Inclusion (DEI) important in sustainability?

A

Enhances recruitment, retention, and performance; critical for sustainable business models.

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7
Q

What challenges are faced in implementing DEI strategies?

A

Lack of diversity and unconscious bias, especially in tech industries.

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8
Q

What focuses define sustainability in operations management?

A

Focuses on environmental and social impacts of supply chain and product lifecycle.

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9
Q

What challenges are faced in operations management concerning sustainability?

A

Gathering transparent information from suppliers, aligning with standards and regulations.

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10
Q

What are some innovative trends in sustainable operations management?

A

Biomimicry in product design, products that do more good, traceability in supply chains.

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11
Q

What is the role of accountants in sustainability?

A

Integrating environmental and social costs into reporting, enhancing decision-making.

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12
Q

What are the key trends in sustainable accounting?

A

Merging economic, environmental, social reporting, increasing disclosure, shadow reporting.

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13
Q

How does Integrated Reporting impact sustainable accounting?

A

Merges economic, environmental, and social reporting for comprehensive oversight.

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14
Q

Why is increased disclosure important in sustainable accounting?

A

Essential for transparent sustainability practices.

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15
Q

What is shadow reporting in sustainable accounting?

A

Offers alternative perspectives on sustainability efforts not covered in standard reports.

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16
Q

How does sustainable behavior influence workforce engagement?

A

Influences positive engagement and commitment to sustainability within the workforce.

17
Q

How can businesses align their actions with sustainability goals?

A

Through strategic alignment of company policies and practices with sustainability objectives.

18
Q

What are examples of biomimicry in product design?

A

Pavegen’s energy-generating floors.

19
Q

What sustainable technologies are essential for operations management?

A

Eco-design and waste reduction strategies.

20
Q

What role does traceability play in sustainable supply chains?

A

Ensures accountability and transparency in the supply chain.

21
Q

How do accountants help set sustainability targets?

A

Setting measurable targets and ensuring compliance with reporting standards.

22
Q

How do sustainable accounting practices enhance decision-making?

A

By providing accurate financial representations of environmental and social costs.

23
Q

What are the benefits of adopting shadow reporting?

A

Provides deeper insights into sustainability efforts, enhancing transparency.

24
Q

What challenges do accountants face in quantifying environmental/social costs?

A

Quantifying these costs is complex and often faced with a lack of accurate data.

25
Q

How do energy-generating floors contribute to sustainability?

A

By converting foot traffic into usable energy, contributing to sustainable energy solutions.

26
Q

What benefits do recycled textiles offer in sustainable practices?

A

Reduced environmental impact, promoting the use of sustainable materials.

27
Q

How can companies improve their sustainability disclosures?

A

By providing more comprehensive and detailed reports on sustainability efforts.

28
Q

What impacts do sustainable practices have on company recruitment and retention?

A

Sustainable practices attract and retain talent by demonstrating commitment to social and environmental responsibilities.

29
Q

Why is transparent information from suppliers crucial in sustainability?

A

Crucial for ensuring all activities are sustainable and compliant with standards.

30
Q

How does sustainability incorporation into financial statements occur?

A

Through detailed accounting that includes social and environmental impacts.

Sustainability (5 decks)

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