Corporate Social Responsibilities

Topics: Sustainability, Sustainable development, Corporate social responsibility Pages: 6 (2087 words) Published: December 9, 2012
Nowadays, many international companies take sustainable development seriously. They understand that sustainable development can enhance their quality of life and their reputation in public. Sustainable development is "development that meets the needs of the present without compromising the ability of future generations to meet their own needs." (Brundtland, 1987) Sustainability requires monitoring and managing all the person to ensure that our economy and society can continue to exist without destroying the social and natural environment during development. The sustainability includes three pillars, which are economic, social and environment, forming a triple bottom line. The triple bottom line demands that a company's responsibility lies with stakeholder rather than shareholder. The stakeholder is a party who can be affected or affect by the action of the company such as shareholders, employee, government, customers or suppliers. The company should serve a wide range of interests by addressing different interests of various stakeholders. Therefore, the compay requires to develop a clear sustainablility goal and communiate with the stakeholders to achieve the sustainability report. The sustainability report discloses the outcomes and results of the organizations’ strategy and management. Moreover, the report can be used for benchmarking and comparing performance that it respects to laws, codes and standards. The sustainability report base on a common guideline, such as Global Reporting Initiative (GRI), AA1000, ISO14000 etc. The purposes of these guidelines are to create a transparent of the company, design the globally applicable guideline for voluntary use by busines and enhance the sustainability reporting practice world-wide to a level equivalent to financail reporting. Under the sustainability reporting of Sompo Japan, the company uses the guidelines of Global reporting Initiative (GRI). GRI is a one of the world’s most popular standards for sustainability reporting. The framework of GRI intends to report on the organization of economic, environmental and social espects. There are two major parts in the GRI Guidelines. Part 1 is ‘reporting principles and guidance’ which helps determining and evaluating what to report on and how to report. Part 2 is “standard disclosures” which indicates what should be included in the sustainability reporting. There are three different types of area: strategy and profile, management approach and performance indicators. In the sustainability reporting of Sompo Japan, it provides a statement from the CEO, Masatoshi Sato. He pointed out a long term of strategy, which committed to reducing CO2 emission to at least 56% by the year 2050 and they offer products of insurance and financial to support other organizations to create a low carbon society. Then the report pointed out the introduction of other four CSR material issues, namely adaptation to and mitigation of climate change, risk management for safety and security, CSR Financing, and community involvement that reflected the organization’s significance to the tripe bottom line. Then it provided a simply introduction about the organization that is a basic information of the organization. It provided the figure of the outline of company organization to show their governance structure. If we want to obtain the details of the operational structure in the company, we will refer to the annual report of the company. Then it disclosed a number of the external charters and the membership in associations, such as World Business Council for Sustainable Development (WBCSD) and The United Nations Environment Programme Finance Initiative (UNEP FI). Finally it explained the objective of stakeholder engagement and used a diagram to identify the stakeholders of the organization. It used a two-way future-oriented dialogue for communication with the stakeholders. Therefore, it complies with the strategy and profile. Under management approach and...
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