ACCT1046 Lecture Notes - Lecture 3: Global Reporting Initiative, Corporate Social Responsibility, Sustainability Reporting
Module 3
Corporate social responsibility reporting
• We often hear the terms ‘corporate social responsibility’ and ‘corporate social responsibility
reporting’. What we have been discussing so far in this lecture could also be referred to as
CSR reporting.
• Corporate social responsibility (CSR) has no fixed meaning but generally refers to the
responsibilities an organisation accepts over and above the law and the way in which it
focuses its attention on the well being of various stakeholders and the environment.
• CSR extends organisational responsibility beyond maximising the interests (wealth) of
shareholders, and beyond the usual activities associated with the provision of goods and
services.
Sustainability reporting
• Sustainability reporting is really just another form of CSR reporting, but relates to the idea of
‘sustainable development’
• Sustainable development is commonly defined as the development that meets the needs of
the present world without compromising the ability of future generations to meet their
own needs (World Commission on Environment and Development – The Brundtland Report,
1987).
• ‘Sustainability reporting’ provides insights into how organisations are performing in relation to
the goal of ‘sustainable development’.
• There is much variation in the nature of ‘sustainability reporting’ and again it needs to be
appreciated that (arguably wrongly) the term sustainability reporting is often used
interchangeably with the term CSR reporting. According to the Global Reporting Initiative
(www.globalreporting.org):
• Sustainability reporting can help organisations to measure, understand and communicate their
economic, environmental, social and governance performance, and then set goals, and manage more
effectively. A sustainability report is the key platform for communicating sustainability performance
and impacts – whether positive or negative. Sustainability reporting can be considered as synonymous
with other terms for non-financial reporting; triple bottom line reporting, corporate social
responsibility reporting, and more.
Corporate responsibilities: The cause of climate
change
• One specific issue of great relevance to current and future generations – and all our various
ecosystems and inhabitants thereof – is climate change. Because of its central importance to
all of us, it is worthwhile spending some time considering it.
Management use of social and environmental
information
• Much of our discussion so far in this module has been about reporting information about social
and environmental performance to stakeholders external to the organisation.
• Management will also need to collect and review information about social and environmental
performance to ensure it is operating in the manner it should be (perhaps as publicly reflected
in corporate mission statements, goals, targets etc.).
• A better management base on what and how it has been measured. Module 2 of this course
discussed a number of approaches management might use to account for its social and
environmental impacts.
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Document Summary
Corporate social responsibility reporting: we often hear the terms corporate social responsibility" and corporate social responsibility reporting". What we have been discussing so far in this lecture could also be referred to as. Sustainability reporting: sustainability reporting is really just another form of csr reporting, but relates to the idea of. Sustainability reporting can help organisations to measure, understand and communicate their economic, environmental, social and governance performance, and then set goals, and manage more effectively. A sustainability report is the key platform for communicating sustainability performance and impacts whether positive or negative. Sustainability reporting can be considered as synonymous with other terms for non-financial reporting; triple bottom line reporting, corporate social responsibility reporting, and more. Corporate responsibilities: the cause of climate change: one specific issue of great relevance to current and future generations and all our various ecosystems and inhabitants thereof is climate change.
