Improved Brand recognition and reputation Attractive to employees existing and

Improved brand recognition and reputation attractive

This preview shows page 27 - 34 out of 44 pages.

Improved Brand recognition and reputation Attractive to employees (existing and potential) Improved top-management strategic thinking Produce innovations in operations Responded to customer needs Met stakeholder’s and society’s changing expectation Advantages of implementing CSR
Image of page 27
Sustainability development: Recognising that company activities can have a lasting impact on society and environment “Development that meets the needs of the present without compromising the ability of future generations to meet their own needs” (Brundtland Report UN, 1987) In supporting sustainability companies need to think of the triple bottom line, economic, social, and environmental performance. Sustainability and the triple bottom line
Image of page 28
China's Guangdong Province requiring companies that pollute the ground water table to clear up or close down. The European Union establishing fishing quotas and other fishing limits to sustain fish stocks. South American and European Union controls on forestry products to protect the rain forest and to ensure that woodland is sustained by replanting. Since 1997, 190 nations, representing half the world's greenhouse gas emissions , have ratified the Kyoto Protocol, committing to reduce the world's greenhouse gases below 1990 levels by 2012 and ultimately to reverse the greenhouse effect. Examples of demands for sustainable development
Image of page 29
reporting of relevant and material non-financial information is essential part of the disclosure. ‘non-financial’ refers to information relevant to assessment of economic value, but does not fit into the traditional accounting framework. information material to investor decision-making is becoming increasingly diverse and dynamic. Long term success in managing a business is increasingly dependent on factors not reflected in financial statements ICGN (2009) https:// (pg 97,103) Integrated reporting non-financial information - (International CG Network)
Image of page 30
A strategic initiative for business to use The principles are that businesses should support Human rights : protection of internationally proclaimed human rights and not complicit in human rights abuses. Labour : uphold the freedom of association and the effective recognition of the right to collective bargaining the elimination of all forms of forced and compulsory labour ; the effective abolition of child labour the elimination of discrimination in employment and occupation. UN Global Reporting Initiative
Image of page 31
Environment : Businesses should rise to environment challenges Take on greater environmental responsibility Develop and diffuse environmentally friendly technologies Anti-corruption : Work against corruption and bribery UN Global Reporting Initiative
Image of page 32
The GRI has been adopted by organisations around the world and now produce sustainability reports using the GRI framework.
Image of page 33
Image of page 34

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture