Week 4 - external reporting Flashcards
For a business what does being socially responsible mean?
Not only fulfilling legal expectations, but also going beyond compliance and investing more into human capital, the environment and relations with stakeholders.
What does social reporting mean?
Providing information about an organisations impact upon people and society.
What does environmental reporting mean?
providing information about an organisation impact upon living and non-living natural systems.
What is corporate social responsibility (CSR) reporting?
responsibilities an organisation accepts to stakeholders and the environment over and above their legal obligations.
Why report social and environment information?
Government legislation. Stakeholder expectation Media attention To counter the introduction of disclosure regulation. Demands of powerful stakeholders Improve financial performance
Whom to report social and environment information?
Many different stakeholders may have an interest in an organisation social and environmental performance.
What social and environmental information should be reported?
What to report will be influenced by:
Responsibilities and accountabilities accepted by managers.
Demand of stakeholders and how they are prioritised.
How/Where to report social and environmental information?
There are a number of reporting frameworks available - most notably the GRI sustainability reporting.
Reported information is typically made available on organisation websites.
What is the Global Reporting initiative (GRI)
est. 1997
independent international organisation
Mos commonly used CSR/sustainability reporting framework.
What are the GRI standards?
generally accepted by many people as representing current “best practice for sustainability reporting”
Parts of the GRI?
GRI101 - foundation
GRI200 - economic
GRI300 - environmental
GRI400 - Social
Definition of climate change?
A change in the pattern of weather, and related change in ocean, land surface and ice sheets occurring over decades or longer.
