Corporate Sustainability Reporting (CSR)
The Organization Setting : The company(Fictious) I am working has grown in Market share of $10 Million dollars .As a Financial Analyst , I am sending a Executive Summary to our Organization Head on the need for a Corporate Sustainability Reporting.
A Sustainability Report essentially sums up a company’s propensity to develop while reconciling contemporary environmental, social and economic demands - the "Triple Bottom Line (People, Planet & Profit)" of sustainability. The Global Reporting Initiative (GRI) details one of the world's most prevalent standards for corporate sustainability reporting. More than 1,500 organizations across 60 countries use the GRI guidelines to report their sustainability initiatives.
Since its inception in the late 1980s, such reporting has grown to a point where it is now unusual to find significant companies without report that conforms to a greater or lesser degree to the de facto standard of the Global Reporting Initiative. The trend of mandatory sustainability reporting picked up steam as consumers, investors, and civil society in general increasingly demonstrated that they value the social responsibility of corporations. Another major boost for the concept came after several countries began requiring that companies report their metrics on environmental footprint, worker safety, and similar issues in a systematic, uniform way.
Why do we need to Report?
A sustainability report accomplishes the following:
➢ Provides detailed information about the company’s challenges and achievements to shareholders, employees, clients and other stakeholders and the public alike. ➢ Fulfills an inherent commitment and responsibility to the environmental and society. ➢ Serves as an effective marketing tool, while associating the company with sound environmental management and sustainable activities. ➢ Tracks the progress of integration of sustainability principles...
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