Sustainability Reporting
Sustainability means different things to different people; therefore, a universal definition of sustainability is elusive. The most often quoted definition is from the Brundtland Commission (1987), which states that sustainable development is “Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” Sustainability is, therefore, more of a journey than a destination wherein ideals, values and measurement metrics are in a constant state of evolution.
The quest for sustainable development started with environmental concerns, and climate change has now become one of the biggest developmental challenges. As the Brundtland Commission had discovered
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The increasing trend towards liberalization and globalization demands increased integration and the convergence to global environment reporting and accounting standards. Therefore it is not only important for the companies to be transparent, accountable and socially responsible but also to ensure adequate returns to the shareholders and satisfy various stakeholders and society at large about their conduct.
The economic activities of corporate entities in different countries are causing concerns for planners, managers and the environmentally conscious people. Since the corporate continue to be the biggest consumers of environmental resources and hence they should shoulder greater responsibilities towards the environmental management. There is a pressing need to ensure that environmental concerns are woven into corporate actions and the best corporate governance practices. It is now being realized by the economists, environmentalists, business managers and accountants that (i) if the benefits from rising incomes are offset by the costs imposed on health and quality of life by pollution, this cannot be called development and that (ii) environmental damage can undermine future productivity. The corporate also managers need to remember the effects of their investment decisions on the
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The proposition that organizations, and business organizations in particular, should supplement their financial accounting with accounting on their environmental, social and other 'non-financial' performance - or 'sustainability reporting' - first emerged in the 1990s. At the time of the 1992 UN Conference on Environment and Development (UNCED), relatively few companies engaged in SR in any form. Responding to the increasing media attention to environmental problems, most reports focused on environmental policies and performance. While calls for SR initially stemmed mainly from advocacy groups and investors, as well as some business leaders, governments played a historic role in formally recognizing the importance of this new dimension of reporting. It is often overlooked that environmental reporting was specifically recognized by the world's governments in Agenda 21, one of the main outcomes of the UNCED conference. There it was agreed that 'business and industry, including transnational corporations, should be encouraged to report annually on their environmental records, as well as on their use of energy and natural resources'. (UNCED conference, 2002) In the decade between UNCED and the 2002 World Summit on Sustainable
The proof of mass executions can be seen in documents three, four, and seven. They discussed the eyewitness accounts of Auschwitz, the German insider’s point of view, and an image showing the reality that these victims had to face. The lack of Jewish immigrant acceptance can be seen in documents one and two. They dove into the issue of Jewish immigration and how Breckinridge Long played a major part in the non acceptance of these Jews. Lastly, the lack of U.S. intervention can be seen in documents five and six.
Introduction The quote The quote cited by Antoine reflected the attitude towards the concept of trial by jury prior to the 20th century. The view then, was that the jury system was believed to be an inviolable right; one of the chief safeguards of rights against the abuse of judicial power . Lord Devlin in the Hamlyn Lectures stated, “it is impossible to understand any English institution of any antiquity unless you know something of its history” .
To what extent does globalization contribute to sustainable prosperity for all people? Globalization contributes largely to sustainable prosperity for all people. Sustainable prosperity is when people of any ethnicity,religion or gender have all their needs met, all have an equal opportunity to create wealth and all to have the chance to pursue happiness. There are many groups that try to make sure everyone has sustainable prosperity. Based on the perspective demonstrated the source should be embraced to a certain extent.
The Scientific Revolution “refers to historical changes in thought & belief, to changes in social & institutional organization, that unfolded in Europe between roughly 1550-1700” (Hatch). This revolution was a time to replace
A brief study of how Jaguar Land Rover attempts to improve its social, environmental and financial sustainability with the use of cost accounting and comparing it with the traditional approach towards cost accounting and possible improvements that could be applied to the strategy. Nowadays, seeking for environmental, social and financial sustainability has become one of the main objectives of large enterprises such as JLR. Jaguar Land Rover Automotive PLC is a British automotive company which is headquartered in the United Kingdom, and a subsidiary of Tata Motors Ltd. It designs, manufactures and sales vehicles bearing the Jaguar and Land Rover brands. JLR became a wholly subsidiary of Tata Motors after it acquired the former Rover Group from Ford Motor Company in 2008.
ASSESSMENT/AUDIT 1. Understanding of why it is important to measure sustainability and the associated problems and conflicts of different indicator sets and types Evidence – It is really difficult to find exact concept for measuring sustainability. For instance the measurement of life parameters is differ between different cultures and individuals. So, different solutions will be required to be found for many different communities. However; we should not assume that things we cannot measured easily is not important.
As a founder member to the United Nation’s Global Compact (UNGC), and a participant of the UN Global Compact since 2000. We, Rio Tinto have focused on being a reliable corporate residents working towards the benefits of our stakeholder. We remain committed to the ten principles of the Global Compact over ten years which are replicated through our policies, standards and guidance. As a matter of fact, substantially more exertion could be put into obeying the mission of UNGC to make a supportable and expanded worldwide economy. In this submission we would propose two conceivable recommendations to assist enhance Rio Tinto’s activies on the 2 selected principals and to make the common an estimation of appreciation, for individuals and the environment
Businesses have been playing a crucial role in people’s lives. No matter what they go or what the occupations they are; people are drawn to get involved in businesses. However, behind the scenes of the business thriving, the environment is deteriorated each day. Many development schemes are come up with the plan related with the depletion of the environment (Shah, 2002). Because of people and environmental damages, attentions were drawn to corporations for ensuring their sustainabilities.
Introduction Sustainability has been mentioned as a goal of businesses. During the mid 1990s John Elkington created the triple bottom line plan under the concept of sustainability. Sustainability can be defined in many ways, but the simplest way is “Ability to sustain” (Sustainability, 2010). The triple bottom line is an accounting framework, and there are three dimensions of sustainability among them people, planet and profit (3Ps). The concept of TBL is to measure the profitable, social and environmental performance of the company.
I agree with the assertion that in the context of Sustainable Development ‘the reality of life today is that the economy dominates environment and society. The Concept of Sustainable Development Sustainable development refers to “meeting the needs of the present without compromising the ability of future generations to meet their needs”, and was produced by the Brundtland report (WCED, 1987). The concept also takes into account the needs of the poor in developing countries by outlining achievable objectives of importance (WCED, 1987).
Also many companies reporting related to the state of the value added or environmental information, these are concentrated in industrial sectors. The financial statements reflect the financial position of company, financial performance and cash flows of the company, it is significant to note that the correct depiction of the impacts of transactions and other events and circumstances according to the explanations and criteria identification of assets, liabilities, income and expenses go in the same outline (Brealey,
This essay will review different cases for and against Royal Dutch Shell position regarding environmental issues and human right. It will also attempt to determine whether Royal Dutch Shell positive impacts on society are enough to outweigh the society’s disgust at many of the company’s unethical actions and controversy. There are years of this, many companies and businesses did not pay attention to consequence of their action toward the environment. Several organisations whatever their size, small or large was found guilty of environmental pollution but nowadays many companies are becoming more concerned about environmental sustainability and the number of companies are still rising.
The conclusion conveyed at the end of this paper, will be that sustainable development is a concept with weaknesses however, the strengths outweigh them. To begin with, the concept of sustainable development famously culminated in 1987 with the United Nations 'Commission on Environment and Development ' also known as the 'Brundtland Report ' (Everard & Longhurt, 2017; pp. 1244). The article introduced, the most widely known definition of Sustainable development as "Development that meets the needs of the present without compromising the ability of future generations to meet their own needs" (World Commission on Environment and Development, 1987).
Sustainability: If you take a look around at what’s really happening in our world, there’s an inescapable pattern of ‘what’s going on is simply unsustainable’ and in other words, it can’t go on for much longer. Sustainability is to “meet the needs of the present without compromising the ability of future generations to meet their own needs”. As cities began to grow with the population increase, the need for a sustainable development became more apparent as resources began to diminish in quantity and value. Left to it’s own devices, the Earth is a sustainable system.
Sustainable development, as its name suggests, is a concept continually elaborating. The most commonly used definition, according to World Commission on Environment and Development (WCED), is the development which “meets the needs of the present without compromising the ability of future generations to meet their own needs” (WCED, 1987). It shows the importance of considering benefits for both current and future generations and strongly supports economic development, while it also implies when accessing environment and natural resources, human beings tend to take an anthropocentric view, that the primary goal is to satisfy human needs. With no regard for earth as a life-support system, a development will not be considered sustainable. Therefore, by taking economic, social, environmental issues into accounts is a key approach to develop sustainably in different contexts.