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The topic of sustainability reporting has become a recurring theme in recent years and the practice has been increasingly professionalized. However, the framework surrounding such reporting is in constant evolution and companies are increasingly challenged by the form, content and process of their sustainability reporting.
Examples of good sustainability reporting practices include digitalization of supply-chain management, stakeholder relation mechanisms, and communication strategies that encourage conjoint two-way sense making and sense giving. [22] The governance structure for the permanent institution was approved on June 21, 2002.
Sustainability reports have so far been self-declared and unaudited, resulting in companies often seeking to present themselves in the best possible light. Furthermore, several studies have demonstrated significant data omissions, inaccurate figures, and unfounded claims [ citation needed ] .
Remedial strategies include: more careful waste management, statutory control of overfishing by adoption of sustainable fishing practices and the use of environmentally sensitive and sustainable aquaculture and fish farming, reduction of fossil fuel emissions and restoration of coastal and other marine habitats. [11]
Sustainability accounting (also known as social accounting, social and environmental accounting, corporate social reporting, corporate social responsibility reporting, or non-financial reporting) originated in the 1970s [1] and is considered a subcategory of financial accounting that focuses on the disclosure of non-financial information about a firm's performance to external stakeholders ...
In the King III Report (otherwise known as King Code of Governance for South Africa 2009), Integrated Reporting is referred to in this manner: "A key challenge for leadership is to make sustainability issues mainstream. Strategy, risk, performance and sustainability have become inseparable; hence the phrase ‘integrated reporting’ which is ...
Essentially an SA is intended to better inform decision makers on the sustainability aspects of the plan and ensure the full impact of the plan on sustainability is understood. The United Kingdom in its strategy for sustainable development, A Better Quality of Life (May 1999), explained sustainable development in terms of four objectives. These ...
In business analysis, PEST analysis (political, economic, social and technological) is a framework of external macro-environmental factors used in strategic management and market research. PEST analysis was developed in 1967 by Francis Aguilar as an environmental scanning framework for businesses to understand the external conditions and ...