Johnson & Johnson: A Model for sustainability Reporting
What is Sustainability Reporting? Describe its origins.
Sustainability Reporting is a report that has the concept of how firms manage nonfinancial elements (environmental, social issues) that might affect the company’s performance, value in the future. The origins are that there are a lot of groups are showing interest in the environmental issues. Such as socially responsible investors, consumers who want environmental friendly products, and community groups that are concerned about impact on environmental.
What is the GRI and what is its objective?
GRI is Global Reporting Initiative. GRI’s objective is to “integrate and unify the many standards in the market place into a single, generally accepted sustainability reporting framework, encompassing environmental, social, and economic performance”. (p30, Johnson& Johnson: A Model for Sustainability Reporting).
How has Johnson & Johnson’s Sustainability Reporting evolved over the years? The Sustainability Reporting has evolved at Johnson & Johnson as it become completely merged with J&J’s culture and objectives. In 1990, Johnson & Johnson first set its environmental goals. In 1993 and 1996, it released public reports. In 1998, it started to have annual Sustainability Reporting. And now, it broadened its content and topics in those reports.
What does Johnson and Johnson hope to accomplish through its sustainability reporting initiative? There are two things that Johnson and Johnson hope to accomplish through its sustainability reporting initiative. First, Johnson & Johnson hope to elaborate what they are doing with sustainability issues. Second, they want to engage shareholders in the process by sharing information with them.
Do you believe that sustainability reports should be audited, similar to financial statements, why or why not? I think sustainability reports should contain some form of external assurance. Since if they...
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