Corporate sustainability reporting Essay Example | Topics and Well Written Essays - 2500 words

Corporate sustainability reporting - Essay Example At the same time, as developments in technology and knowledge are contributing to financial development, they also have the potential to assist resolving the threats and risks to the sustainability of environment, social relations and economies. Sustainability reporting is the kind of practice of disclosing, measuring, and being accountable to external and internal stakeholders for organizational performance towards the objective of sustainable development. A sustainability report should offer a reasonable and balanced representation of the sustainability performance of a reporting company consisting of both negative and positive contributions. The guidelines of Sustainability Reporting comprise principles for defining content of report and guaranteeing the quality of reported information. It also consists of standard disclosures made up of indicators of the performance and other items of the disclosure, in addition to guidance on specific technical and technological topics in report ing. A company’s own sustainability and business policy offers the circumstance in which performance is discussed. The relationship between the organizational strategy and sustainability should be made clear, as should the circumstance in which performance is reported. ... A sustainability report also refers to a single, combined disclosure that offers a balanced and reasonable presentation of performance over a fixed period of time. Stakeholders must be capable to directly access all of the information in the report from a single location, such as a GRI content index. The GRI Reporting Structure is planned to provide a normally accepted structure for reporting on a company’s environmental, economic and social performance. The structure includes the guidelines of the Sustainability Reporting, Technical Protocols, the Indicator Protocols, and the Sector Supplements. Organizational operations connected to operating, entering, and exiting can have numerous negative impacts on local communities. Indicators in the GRI structure, such as economic data or environmental emissions, will offer an overall idea of negative and positive impacts, but may not be capable to present them in relation to local communities. Sustainability reporting must consider ev ery material sustainability topics that are appropriate in understanding how a company can create, erode or preserve value over time. Environmental, economic, and social impacts can turn out to be significant over an extended time period. Reports should be capable to reflect both long-term as well as short-term topics and foreseeable longer-term subjects. A sustainability report thus covers a wider range of subjects than constitutional and statutory reporting needs, consisting of, but not limited to: †¢ â€Å"Impacts on stakeholder groups that are of high significance to them †¢ Opportunities to contribute to broader sustainability objectives †¢ Opportunities to adapt to planned changes in policies and regulatory frameworks† (RG Sustainability Reporting Guidelines, 2000). Once a