ACCG100 Lecture Notes - Lecture 11: Global Reporting Initiative, Integrated Reporting, Environmental Accounting

• School: Macquarie University
• Department: Accounting and Corporate Governance
• Course: ACCG100
• Professor: All

Document Summary

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs. Puts emphasis on 3 pillars together not individually: environmental protection, social equity, economic performance. Remain silent on social/environmental issues eg pollution, child labour. Narrow point of view of success calculation; profitable or socially responsible. Emissions trading scheme (ets) designed to control emissions by allowing participants to trade excess emissions permits. Carbon tax where a levy is paid on the amount of emissions of greenhouse gases. Australian water accounting standards ; provide guidance and explanatory material to assist in preparing, presenting and assuring general purpose water accounting reports. It is of huge importance that social and environmental accounting becomes embedded in organisational culture, custom and law. It involves the preparation and publication of an account about an organisations social, environmental, employee, community, customer and other stakeholder interactions and activities, and the consequences of the interactions and activities.