Hinal Patel_U1083117_Assignment 2_ACC8801.docx - HINAL PATEL \u2013 U1083117 Part-A Sandfire Comparison 1 Assessments and comparison of Sandfire\u2019s

Hinal Patel_U1083117_Assignment 2_ACC8801.docx - HINAL...

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HINAL PATEL – U1083117 Part-A: Sandfire Comparison 1. Assessments and comparison of Sandfire’s sustainability reports Sandfire Resources NL is an exploration and mining company situated in Pert, Western Australia which basically dealing with exploration and mining works of coppers and golds. This report will focus on sustainability reports of Sandfire Resources NL which are evaluated and compared based on G4 sustainability reporting guidelines. According to Section 4 of G4 guidelines, companies have to define their reporting principles i.e. reporting content and then reporting quality. Components in reporting principles are as follows: Reporting content component Reporting quality component Stakeholder Inclusiveness Balance Sustainability Context Comparability Materiality Accuracy Completeness Timeliness Clarity Comparing the G4 section 4 with Sandfire’s sustainability reports, it has mentioned stakeholder’s involvement and issues raised in tabular form in 2015 report which is easy to understand and quickly address, whereas in 2016 report it has short paragraph view. But materiality issues (economic, environmental and social aspects with sub categories of Labour Practices and Decent Work, Human Rights, Society Product and Responsibility) are drawn in tabular form in 2015 and 2016 reports which very easy to read by users. Organisation’s economic contribution has increased from 2015 to 2016 in terms of donations. Additionally, Sandfire has committed to provide $15,000 towards kart and racing equipment for school program in 2017. According to G4 guidelines, Sandfire has provided the business overview as in their vision, mission and values in both 2015 and 2016 reports with broader context. Sandfire Resources NL has made available both years i.e. 2015 and 2016 reports as per the G4 guidelines and tried to cover all the components suggested by G4. As far as sustainability concern, Sandfire has not made any big changes in terms of personnel for governing the sustainability. Similarly, in 2016, Sandfire maintain the same hierarchy of sustainability committee that they had in previous year 2015 (Sandfire, 2015/2016). It has additionally provided the information based on primary business which is displayed in pictorial form under the headings of ‘Our Business’ and ‘Our value chain’ in both 2015 and 2016 sustainability reports respectively. Another part of section 5, G4 guidelines is ‘Ethics and Integrity’ which should cover the company’s ethical and lawful behaviour such as code of conduct. It is clearly seen in Sandfire’s 2015 and 2016 sustainability report that they have mentioned their code of conduct saying that their actions must be governed by fairness, integrity and lawful.
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HINAL PATEL – U1083117 Sandfire has been set the targets for each coming financial year to be fulfilled. In 2015 the major target was to strengthen Sandfire’s engagement with suppliers and contractors and place the processes to measure their sustainability criteria whereas in 2016, Sandfire
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  • Winter '20
  • Hinal Patel, Sandfire

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