The triple bottom line reporting of Wesfarmers is prepared according to the aspects and relevant indicators listed in the GRI indicator Matric Group These decisions are rarely based on financial information alone. Non-alignment between triple bottom line reporting and business strategy and objectives As well known, the strategic direction of a business and the need for competitive advantage from being transparent in reporting TBL performance indicators are the major factors, which drive the preparation and publishing of triple bottom line report.
Public authorities and non-profits are also big reporters. Wesfarmers discloses specific information about each aspect every fiscal year. Wesfarmers,Sustainability reports, Retrieved October, 05, from: According to GRI indicator matrix, there are kinds of performance indicators respectively for economic performance, social performance and environment performance.
However, there is a fair amount of businesses, which do not follow the GRI indicator matrix to do full disclosure in their sustainability reporting. No What is sustainability reporting? There is no disclosure about human rights society performance, but only information about environmental impacts such as energy, water and forest protection.
They are based on an assessment of risk and opportunity using information on a wide variety of immediate and future issues. The aspects covered in the sustainability reporting of Woolworth are incomplete. But the social responsibility and impact should not be ignored in reporting.
So, these businesses focus on customers but not other stakeholder such as social community. Conclusion As noted above, there are still many challenges in implementing triple bottom line reporting in the sector of agribusiness.
In other words, there are specific introductions about how much the energy savings by Wesfarmers could contribute to the overall profits of the company and what the energy savings target of Wesfarmers in the following period.
For small and medium businesses, there is also information about social and environmental effects in annual reports, provided to stakeholders. Every day, decisions are made by businesses and governments which have direct impacts on their stakeholders, such as financial institutions, labor organizations, civil society and citizens, and the level of trust they have with them.
The value of the sustainability reporting process is that it ensures organizations consider their impacts on these sustainability Sustainability reporting essay, and enables them to be transparent about the risks and opportunities they face.
What they really care is the data in the financial reporting but not the sustainability reporting. They need to focus on the economic performance firstly to bring a higher return to shareholders.
Wesfarmers Plc is a good example to implement the triple bottom line reporting by referring to GRI guidance. In addition, the aspects disclosed in different fiscal years were also different Woolworth, Thus, their triple bottom line reporting just complies with the guidance of GRI in form but not essentially.
But there are still many challenges, which impede businesses addressing triple bottom line reporting. Without their supervision, triple bottom line reporting is just a kind of formalism to cope with relevant regulations.
There should be complete measurement of key aspects for all economic, social and environment performances, which could ensure the continuity and comparability of the triple bottom line reporting.External links to great examples of sustainability reporting from businesses of all sizes including ICAS.
Free sustainability papers, essays, and research papers. My Account. Your search returned over - I choose PricewaterhouseCoopers to research services offered for Sustainability Reporting. PricewaterhouseCoopers (PwC) began with the merger of Price Waterhouse and Coopers & Lybrand in Essay Topics Plagiarism Donate a Paper.
Sustainability and Triple Bottom Line Reporting Essay Words | 7 Pages. focus on the longevity of the organization. The successful business understands the concept of. Compulsory Question Social and Environmental reporting, also known as sustainability reporting, is defined by Gray, Owen and Maunders as “the process of communicating the social and environmental effects of organisations actions within society and to society at large” (, p76).
Good Essay Topics on Sustainability Sustainability belongs to the list of specific themes that make the students wondering what exactly they should put into the context.
If you are one of those students, you are in the right place as we can easily make it clear for you. Sustainability and Corporate Responsibility Essay Sample. Trend towards triple bottom line reporting is undisputed.
Especially for many public corporates, there is always a separate sustainability reporting when releasing the annual reports.Download