Sustainability Reporting Samples for Students †MyAssignmenthelp.com

Question: Discuss about the Organizational Sustainability Reporting. Answer: Introduction Organization is comprised of several set of activities which are performed with a view to achieve certain goals and objectives. Annual report is the main document which is used by stakeholders to gauge whether company has been complying with all laws and regulations. With the increasing ramification of changes in organization working conditions and customized value chain activities, it is observed that corporate sustainability is major factor in the success of organization. throughout the time, directors and promoters of organizations are more inclined towards creating companys brand image through providing positive impacts on society (Busco, et al. 2013). As the word sustainability directly relates to environment in which organizations run their business and survive. Discussion Environment is consisted of many resources which are used by organizations for operating their business (Baumgartner and Ebner, 2010). Therefore, For opalescent future of our next generation companies have started to make corporate sustainability check on management and proper utilization of resource. However, there was time when companies were focusing on enhancing the financial report to maintain goodwill in the market neglecting the issues related to environment, society and government which were tremendously destroyed and new sustainability reporting was introduced on international level. Therefore, in order to mitigate damage to three of the main referred accounts of environmental, social, and governance(ESG) sustainability reporting has been taken into consideration. It could be defined as a non financial report of a company prepared to know how efficiently and effectively resources are being utilized by organizations while keeping in the mind ESG under the guidelines of GRI (G lobal Reporting Initiatives). If company includes sustainability reporting in their annual report then it will not only result into legal compliance but it also reflects that company has also been indulged in providing best possible benefits to society and environment. Sustainability reporting in annual report of company reflects green, clean and better economic and commercial health to a company which helps company to make better relationships with investors, stakeholders and employees. Annual report is comprised with several documents which reflect the true position of company (Wolf, 2014). It is further observed that Annual report is consisted with corporate governance report, financial statement, directors report and auditors report. If company adds on corporate sustainability reporting in its annual report then it would allow stakeholders and other public to gauge effectiveness of business performance in non financial terms. In addition to this, it will provide how company has been indulged in providing benefits to environment and economy (Searcy, 2012). It is further observed that if management department has focus on using its resources efficiently and providing benefits to organizations then using sustainability reporting in annual report would result into creating effective brand image and various benefits to organizations. In addition to this, increased transparency for sustainability reporting in organizations will provides transparency to business which helps to improve performance and accountability structures. It displays the negative and positive aspects of a company. It is observed that utilizing sustainability reporting in present scenario has brought a great change in environment and business functioning of organizations. It is evaluated that better utilization of natural resources and intellectual products could not only increase sustainability of organizations in economy but also increased its brand image. Therefore, keeping in the view on sustainability report, International Integrated Reporting Council also playing an important role in developing sustainability report guidelines for corporations throughout the world. IIRC concentrates on the financial stability of a business. It acts as an invisible backbone of a corporation. It creates the bridge among investors, stakeholders and organization (Benn Dunphy and Griffiths, 2014). It works of the simple concept of business management thats from planning to implementation ensures long term stability helps investors to able to understand the valued structure of the organization. It allows an organization to create a bond between people, society, and environment and finance (Baumgartner, 2014). These terms are basically specified as six capitals of given factors, finance, infrastructure, people, society, intellectuals and environment. It is evaluated that before IIRC introduced investors were facing a problem in investing in a company without a clear vision of its stabili ty. The stagnant capital was affecting the worldwide the businesses. The organizations were not able to provide the quality and improved informations to its investors. Therefore, the emergence of IIRC provides several benefits to organizations worldwide. The IIRC helped to manage the co- operation among companies worldwide. It works on future oriented communication. It also helps to manage the key risk factors of the business. It brings the relevancy and strategy to a sustainable economy. It provides stakeholders in taking good amount of outcome in a short span of time with better allocation of resources. It is globally creating a trust and unity framework among regulators, investors, stakeholders, and employees. It connecting companies as it is providing a clear vision in corporate sector. All organizations believe in dealing with its risk and opportunities which are affecting its ability to create value over short, medium and long term. It also suggests a way to an organization un der various circumstances it operates itself by strategy and allocation of resources. It encounters the pursuing strategies and potential implications for its business and its future performance. IIRC helps in gauging the requirement of corporate sustainability and its importance for organizations which result into increment in complying of corporate sustainability. Conclusion Sustainability reporting in annual report of company provides green, clean and better economic and commercial health to a company which helps it to make better relationships with investors, stakeholders and employees. There are several roles which are provided by International Integrated Reporting Council such as framing policies, establishment of nexus between international and domestic sustainability reporting frameworks and developing a standard set format for organizations for their better sustainability reporting. Now in the end, it would be inferred that International Integrated Reporting Council has provided several benefits to organization in making effective sustainability reporting (Van Marrewijk and Werre, 2013). References Baumgartner, R.J. and Ebner, D., 2010. Corporate sustainability strategies: sustainability profiles and maturity levels.Sustainable Development,18(2), pp.76-89. Baumgartner, R.J., 2014. Managing corporate sustainability and CSR: A conceptual framework combining values, strategies and instruments contributing to sustainable development.Corporate Social Responsibility and Environmental Management,21(5), pp.258-271. Benn, S., Dunphy, D. and Griffiths, A., 2014.Organizational change for corporate sustainability. Routledge. Busco, C., Frigo, M.L., Quattrone, P. and Riccaboni, A., 2013. Integrated reporting.Concepts and Cases that Redefine Corporate. Searcy, C., 2012. Corporate sustainability performance measurement systems: A review and research agenda.Journal of business ethics,107(3), pp.239-253. Van Marrewijk, M. and Werre, M., 2013. Multiple levels of corporate sustainability.Journal of Business ethics,44(2), pp.107-119. Wolf, J., 2014. The relationship between sustainable supply chain management, stakeholder pressure and corporate sustainability performance.Journal of business ethics,119(3), pp.317-328. Answer: