...SYNOPSIS 1. Background Today, sustainable development has become the need of the hour, and organizations, domestic and multinational, are aggressively adopting various measures to do businesses more sustainably. “Sustainable Reporting” is a new trend that has emerged, which addresses a company’s forward strategy and majority of companies are doing it to build trust in customers and improve their brand image. 2. Objectives The major purpose of this study is to compare the Sustainability Reporting Practices of various Domestic and Multinational Companies in the Automobile Sector in India. To achieve this following will be undertaken: * To study and compare sustainable practices of domestic automobile companies Maruti & Mahindra with multinational counterparts TATA Motors , Toyota & Ford. * To compare if they have been successful in doing so, what are the benefits that the companies look out for when they do the Sustainable Reporting, and till what extent they have done it. * To compare each of their sustainability reporting practices on GRI parameters. 3. Scope of study The scope of our report is focused on Automobile sector particularly the Sustainability Practices of Maruti, Mahindra, Tata, Toyota and Ford. We will be studying the sustainable reporting practices of these companies and efforts towards adoption of GRI Guidelines and a comparative analysis of two domestic automobile companies with two multinational automobile companies...
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...GrowingScience.com/uscm Sustainable accounting reporting practices of Indian cement industry: An exploratory study Shagufta Khana , Vineet Chouhanb*, Bibhas Chandrac and Shubham Goswamib a Research Scholar, School of Management, Sir Padampat Singhania University, Udaipur-India Assistant Professor, School of Management, Sir Padampat Singhania University, Bhatewar, Udaipur-India, 313601 c Associate Professor, School of Management, Sir Padampat Singhania University, Bhatewar, Udaipur-India, 313601 b CHRONICLE Article history: Received September 10, 2013 Received in revised format 10 December 2013 Accepted February 25 2014 Available online February 27 2014 Keywords: Cement Industry Sustainability Financial Information Environment Accounting Reporting Sustainable Reporting Practices ABSTRACT Cement is the single most important and profitable product in the building material sector. With the economic boom, in India, Indian cement industry is a market of opportunities waiting to be tapped. However, at the same time cement industry is also experiencing a surge in demand. Production of Cement will always release carbon dioxide and change in the climate of the earth that is why despite its profitability, the cement industry faces many challenges regarding environmental concerns and sustainability issues. In order to minimize the impact of all of the above mentioned issues, it is clear that the cement and construction industry will have to adapt to remain sustainable and in this process...
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...Sustainability Reporting Sustainability means different things to different people; therefore, a universal definition of sustainability is elusive. The most often quoted definition is from the Brundtland Commission (1987), which states that sustainable development is “Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” Sustainability is, therefore, more of a journey than a destination wherein ideals, values and measurement metrics are in a constant state of evolution. The quest for sustainable development started with environmental concerns, and climate change has now become one of the biggest developmental challenges. As the Brundtland Commission had discovered...
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...*Gartner Q2 2007 Sustainable World In the late twentieth century, rapid development of information technology and products such as the PC, satellite and Internet became a driving force of globalization. The impact of globalization is reflected on weakening world governments in terms of decision-making and influence, and on the increasing power of multinationals. Data from the World Economic Forum (WEF) shows that among the largest 100 global economies, 51 of them are transnational groups and the rest are national states. Although businesses represent the lifeblood of a nation's economy, they place excessive demand on the natural environment in pursuit of growth and stress the earth's ecosystems. As a result, earth-protection groups are calling on transnational groups to take up environmental, moral and social responsibilities. "Sustainable Development" is widely considered the challenge facing corporations in the 21st century. One of the prerequisites to achieving sustainable development is by sincerely carrying out corporate social responsibility (CSR). In the past, a company’s responsibility was about maximizing profits for shareholders and fulfilling CSR through the tax paying mechanism; that was all about social responsibility. Nowadays the definition of CSR has shifted from acting egoistic to altruistic. For example, the World Business Council for Sustainable Development (WBCSD) defines CSR as "a business' commitment to contributing to sustainable economic development...
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..."Sustainability" has come to have many different meanings. It's the latest buzzword among business, government, and nonprofit entities. Business leaders must be wondering if it's just the latest management fad of a concept that will fundamentally change how businesses are managed and measured. This paper is based on the notion that sustainability is more than a fad, but rather is creating a permanent shift in the very nature of business. Since the advent of the paradigm of sustainable development in the 1980s, the private sector has been shifting from a narrow economic conception of responsibility toward a comprehensive approach that attempts to balance economic objectives with environmental pressures and changing societal expectations (Robinson, 2000). The Brundtland Commission (World Commission on Environment and Development, United Nations, 1987) is generally credited with introducing "sustainability" in their report, Our Common Future. The report states that "Humanity has the ability to make development sustainable--to ensure that it meets the needs of the present without compromising the ability of future...
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...Sustainability management and reporting is aligned with the three principles of the AA1000 AccountAbility Principles Standard (2008) 1 : materiality, inclusivity and responsiveness. Members are firmly embedded in governance (both in general, and in sustainability governance specifically) and policy formulation (pages 13 and 14). As such, whilst engagement with wider stakeholders is central, there is an additional focus on how democratic structures are used to ensure that strategies, policies and performance respond to stakeholder concerns. This level of responsiveness is almost certainly unique among large businesses in the UK. materiality and strategy In 2010, following consultation with different stakeholders, the Group Board agreed a new vision: ‘to build a better society by excelling at everything we do’. In pursuit of this, six aims are identified: to be a commercially successful business; to meet the needs of the customers and communities served; to respond to members and to share profits; to be an ethical leader; to be an exemplary employer; and to inspire others through co-operation. The key performance indicators underpinning strategy, together with progress, are presented within the Annual Report and Accounts 2 . The Sustainable Development Policy (page 10) and the Ethical Operating Plan (page 13) set out the need for business to develop in a more sustainable manner 3 . In managing and reporting on sustainability, activity...
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...Ajzen, I. and Fishbein, M. (1980) Understanding attitudes and predicting behaviour, Englewood Cliffs: Prentice Hall. Anderson et al. (2007) Statistics for Business and Economics, London: Thomson. Bansal, P. (2002) ‘The Corporate Challenges of Sustainable Development’, The Academy of Management Executive, vol. 16, no. 2, pp. 122-131. Baum, T. (2006) Human resource management for tourism, hospitality and leisure: an international perspective, London: Thomson. Baumgartner, C. (2000) Nachhaltigkeit im Österreichischen Tourismus [Online], Available: http://www.seilbahn.net/thema/nachhaltigkeit.pdf [25 March 2011]. Berg, B.L. (2009) Qualitative Research Methods for Social Sciences, 7th edition, Boston: Pearson. Berry, S. and Ladkin, A. (1997) ‘Sustainable tourism: a regional perspective’, Tourism Management, vol. 18, no. 7, pp. 433-440. Blackburn, W.R. (2007) The sustainability handbook – The complete management guide to achieving social, economic and environmental sustainability, London: Earthscan. Black, T.R. (1993) Evaluating Social Science Research: An Introduction, London: Sage. Black, K. (2009) Business Statistics: Contemporary Decision Making, 6th edition, Jefferson City: John Wiley and Sons. Bmwfj (2011a) Die Organisation des Tourismus [Online] Available: http://www.bmwfj.gv.at/-Tourismus/TourismusInOesterreich/Documents/organisationshandbuch%20J%C3%A4nner%202011.pdf [10 Feb 2011]. Bmwfj (2011b) Tourismuspolitische Aktivitäten [Online], Available: http://www.bmwfj.gv.at/Tou...
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...Towards the Sustainable Corporation: Win-Win-Win Business Strategies for Sustainable Development John Elkington §§ I often wake up in the middle of the night," Pope John XXIII once said, "and start thinking about grave problems—and decide to talk about them with the Pope. Then I wake up completely and remember that I am the Pope." Western industrial societies have undergone a similar awakening over the last three decades as the scale of the environmental and natural resource problems they face has become increasingly clear. In doing so—and before they finally accept that the responsibility for tackling these problems is theirs, not something to be pushed onto future generations—they typically move through a number of stages. These have included: ignorance awakening denial guilt reduction, displacement behaviour, and tokenism conversion integration In the wake of the publication of Our Common Future, the 1987 report of the World Commission on Environment and Development,' and the UN Conference on Environment and Development (UNCED) held in Rio de Janeiro in June 1992, the concept of sustainable development—involving the integration of environmental thinking into every aspect of social, political, and economic activity—has become central to the environmental debate. This article considers some of the ways in which business is now developing new "win-win-win" strategies in this area to simultaneously benefit the company, its customers, and the environment. I Towards the...
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...|Objectives | | |Reduce energy |Reducing electricity use by 2%p.a | | |Reducing gas use by 4%p.a | |Embedding environmental sustainability in everything we do. |Focus on ways of carrying out recycling, reducing, renewal | |Engage and inspire |This deals with an in depth analysis and coming up with ways to| | |ensure that the employees, shareholder, suppliers and the opera| | |house customers understand the environmental sustainability. | |Keep accurate records |Recording resource use on a monthly basis. | Assessment 2:- Part A |ACTION ACHIEVED |ASSOCIATED TARGET |RESOURCE |TIMELINE |ACCOUNTABILITY. | |Systematically review |A 2% reduction in |Finances |Year 1-3 |Regular monitoring of | |energy efficient |electricity use from |Time | |the system. | |opportunities in the base ...
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...views sustainability, their current suitability achievements and their goals for the future. The following analysis will highlight some of the positive attributes, as well as offer suggestions on areas of improvement. ...Accountability Adding creditability and transparency to their reported information Coca-Cola utilizes third-party verification through the FIRA, standardized performance framework through the Global Reporting Initiative (GRI), and visibility of its global business principles. This level of reporting and verification speaks to the point the Coca-Cola is looking at sustainability in the short and long term. One area in which the company could improve from an Accountability perspective is depicting additional efforts for goals that have not been achieved. …Measures Within the report, Coca-Cola speaks to the following areas of sustainability: The Coca-Cola System, Water Stewardship, Energy Efficiency, Climate Protection, Sustainable Packaging, Corporate Giving Economic Opportunity, Workplace / Human Rights, A Great Place to Work, Sustainable Agriculture, and Health / Well-Being. Overall statements around these measures are that they seem to be fairly inclusive to the industry, as well as covering the triple bottom lines three dimensions of social, environmental and economic performance. One highlight to the companies’ measures is their brief depiction of the Coca-Cola System. Through this measure, the company eludes that they are considering the products...
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...In this article ’INTEGRATED REPORTING TO PRACTICE From Concept To Practice’, Busco (2014) argues the benefits of integrated reporting and attracts company to use integrated reporting. This article has limited relevance on the the BABC001 Report Question only about the definition and purpose of integrated reporting. However, this article is reliable because this article uses academic language and uses the evidence from IIRC(International Integrated Reporting Council). In addition, this article is wrote in 2014 and still has useful information now. Therefore, this article is reliable and can be used as an academic resource. This article has limited relevance about the BABC001 Report Question. The definition of IR and the purpose of IR, which is to enhance accountability and stewardship and to make sustainable value creation for stakeholders(Busco, 2014, p.32) are the answer to BABC001 Report 1a and 1b. However, this principle of IR is not clear and specific. Therefore, the answer to BABC001 Report Question 2a and 2b are hard to find and little description. Moreover, the BABC001 Report Question 3 which is the evaluation of companies by using principle is not exist. Therefore, this article is not focus on the BABC001 Reporting Question and has limited relevance in this article about the BABC001 Reporting Question. The source is wrote fully support evidence and therefore objective. Busco (2014) argues the way IR framework to help to assist organization with IR process are using...
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...Benefits of CSR A sustainable report is away to show the companies sustainable growth in a way which is similar in manner of financial report and facilitates companies to have a sustainability comparison. A sustainability reporting has the benefits of metrics and agreed disclosures reporting which systematic and in order.CSR is basically the combined integrated approach of good social and environmental governance practices in to all aspects of business which provide an integrated approach to all aspects material with non-financial issues. There are two basic benefits of CSR for both at company levels and property levels. First, it acts as a guide to the company and its programs that also acts as measure in facilitating organizational shifts and continuity in turnover. Secondly, it also helps in invoking the tracking procedures and measurement that enable analysis in terms of purchases, waste, water and energy. The data above further helps in in decision making in terms of retrofits and programs and capital expenses. The careful implementation of CSR policies can help an organization and it is a resource drain which is good for an organization. The benefits of CSR to Nike are The company has started new business ventures like New Green Venture Capital Arm to Fuel Innovation, New Model of Corporate Venture Capital etc. It has gained customer retention and has established some permanent motivated customers. The company has also improved its relationships with suppliers...
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...responsibilities. 1.1 Corporate Social Responsibility Sir Geoffrey Chandler defines corporate social responsibility (CSR) as conducting transparent business practices that are based on ethical values, compliance with legal requirement, and respect for people, communities, and the environment. According to the Social Responsibility of the Businessman, CSR is defined as “the obligations of business to pursue those policies, to make those decisions or to follow those lines of action which are desirable in terms of the objectives and values of our society” (Bowen, 1953). 2.0 The potential of CSR in creating sustainable development The previous driving force had a great potential of exploiting the sustainability of this world at large. This is solely because when a company’s only purpose is to maximize profit at any economic, environmental or social cost. According to the Brundtland report sustainable development is interpreted as the development that meets the needs of the present without compromising the ability of future generations to meet their own needs. The definition given by Brundtland report is built under two main concepts; needs and limitation. Needs in a sense is attributed to the essential needs of the majority of the current population, the poor people, to which the main priority should be given. Similarly, the concept of limitation measures the environment’s ability to meet present and future need. The reason to this is, our plant...
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...ENERGY FOR A CHANGING WORLD Shell – an Introduction Darwin Silalahi Presiden Direktur Shell Indonesia Copyright of Shell International B.V. ABOUT SHELL Recognised for technical innovation and megaproject delivery Employs 90,000 people in more than 80 countries Committed to social and environmental sustainability Producing the equivalent of 2,300 barrels of oil every minute Partners in innovation with Ferrari F1 team Active in alternative energies such as biofuels and wind One of the world’s bestknown brands Selling transport fuel to some 10 million customers a day Copyright of Shell Supply & Distribution RESTRICTED July 2012 2 THE WORLD’S LARGEST CORPORATIONS BY REVENUE Rank 2011 revenues ($ million) 484,489 452,926 2011 profits ($ million) 30,918 41,060 15,699 25,700 9,453 16,317 5,678 26,895 12,436 Shell ExxonMobil Wal-Mart Stores 1 2 3 4 5 6 7 8 9 10 446,950 386,463 375,214 352,338 259,142 245,621 237,272 BP Sinopec Group China National Petroleum State Grid Chevron ConocoPhillips Toyota Motor Source: Fortune Global 500, 2012 Copyright of Shell Supply & Distribution 235,364 3,591 RESTRICTED July 2012 3 THE NEW ENERGY FUTURE BY 2050 Rising energy demand, supply pressure, climate change 9 billion people, 75% living in cities (2 billion more than today) 2 billion vehicles (1 billion at the moment) Many millions of people will rise out of energy poverty; with higher living standards...
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...associations and institutes: Anti-Corruption Commission of the International Chamber of Commerce, Global Council on Business Conduct, The Conference Board, Ethics and Compliance Officers Association, The Ethics Resource Center, International Business Ethics Institute, Institute of Business Ethics, Cercle d'Éthique des Affaires. 3. The L’Oreal is the largest cosmetics group in the world with 20.3 billions Euros of sales (2011), operating in 130 and having almost 70000 employees 4. L’Oreal invest 40 million Euros annually in programs that bring tangible benefits to communities all over the world. 5. The company engages in human rights protection, is against child labor, and also executes their buy & care programs to ensure sustainable growth and compliance with CSR strategy throughout their supply chain. 6. L’Oreal has also developed very stringent anti-corruption policy with zero-tolerance statement against any corruptive actions enclosed in it. 7. L’Oreal also supports academic researches, donates to charity and regularly participates in industry forums. 8. The report demonstrates a remarkable decrease in waste and recycling, CO2 emissions, energy consumption, water use and other indicators. 9. The company has...
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