SUSTAINABILITY ACCOUNTING AND ACCOUNTABILITY
MSC IN ACCOUNTING AND FINANCE (PTABAB061)
INDIVIDUAL COURSE ASSIGNMENT
WORD COUNT: 3,358
DATE OF SUBMISSION: JANUARY 10, 2013
ASTON BUSINESS SCHOOL (ABS)
TABLE OF CONTENT
Sustainable Development- The Background
Compliance of CLP Sustainability Report with GRI’s Sustainability Reporting Guidelines
Strategy and Profile
Strategy and Analysis
Literature Review on CLP’s SR
Assurance of CLP SR
Sustainability and sustainable reporting is a buzzword in corporate world for its ever-growing importance on human lives of all stratums. In this report, I’ve critically analysed the sustainability report of CLP Group. This report focuses on whether CLP Groups sustainable report conformed to the Global Reporting Initiative (GRI) guidelines; CLP sustainability reports connection with literatures on sustainability reporting, and finally the assurance of sustainability report and its level of assurance. Finally, I’ve concluded this report with my position in respect to Rob Gray’s famous statement on accounting for sustainability. CLP is in the business of delivering energy to the people of the Asia-Pacific region. In this report, CLP sustainability report of India for year 2011 has been used instead of CLP Group’s sustainability report. The sustainability Report was retrieved electronically from their online domain. 2.
SUSTAINABLE DEVELOPMENT- THE BACKGROUND
We live in a world of limited resources, where present generation fulfilling their needs by compromising the needs of future generation. We’re only focusing on our wellbeing, without considering the future of this planet. To recover from this problem of unsustainable behavior, the concept of sustainable development emerged in way back in 1972 in The United Nations Conference on the Human Environment held in Stockholm in 1972. The concept of corporate social responsibility first surfaced in the 1970s as both companies and governments began to look beyond financial performance, for a more comprehensive understanding of the company’s long-term value-creating potential. In 2002, the European Union (EU) formally defined CSR as “a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis”. A sustainability report is the key platform for communicating positive and negative sustainability impacts. Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs. It contains within it two key concepts:
The concept of ‘needs’, in particular the essential needs of the world’s poor, to which overriding priority should be given; and
The idea of limitation imposed by the state of technology and social organisation on the environment’s ability to meet present and future needs. (Brundtland 1987) This essentially means that progress can be made towards a world where economic, social and environmental goals and policies are pursued to maintain a good quality of life now and in the future (Sustainable Development Commission 2010). 3.
COMPLIANCE OF CLP SUSTAINABILITY REPORT WITH GRI’S SUSTAINABILITY REPORTING GUIDELINES GRI, founded in Boston in 1997, is a non-profit organization providing sustainable reporting guidelines in order to develop a sustainable global economy. CLP Sustainability Report for 2011 has received the Global Reporting Initiative (GRI) application level A+ by fulfilling the requirements of the G3 Sustainability Reporting Guidelines and the Electric Utility Sector Supplement (EUSS). GRI application level is a self declaring...
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