The paper 'Understanding Corporate Social Responsibility ' is a great example of a Management Case Study. The need to address the requirements of a wider group of shareholders has led to the progressive development of corporate social responsibility. The bulk of CSR reporting has considerably grown and the conception has led to conformable academic and media levels of consideration. An increased number of frameworks for reporting has developed alongside growth in activity to give a model in which companies can follow when reporting their initiatives (Accountants), 2012). This report intends to examine 2 listed companies in the Australian Stock Exchange which provide corporate social responsibility report.
The report is assessed against the key elements of the Global Reporting Initiative (GRI), (G3 and G4). This report epitomizes the overall model of corporate social responsibility reporting in the 2 Australian companies listed in the Australian stock exchange. This will evolve around broad environmental, social, and economic issues. Energex ltd utilities and Origin energy ltd are listed Australian companies that embrace corporate social responsibility reporting and will be used for analysis. Introduction Corporate social responsibility is defined as the voluntary undertakings by an organization to work in, economic, social, and environmentally sustainable manner.
Responsibility taken by Australian organizations in their operations promotes values of the county locally and internationally and it also improves citizen's sustainable development. Australian Center for Corporate Social Responsibility (CSR) has been formed to help Australian organizations to create lasting value by introducing responsible company strategies and productive shareholder relationships. Global Reporting Initiative (GRI) is a nonprofit organization that promotes environmental, social, and economic stability (Marce, 2011). Global Reporting Initiative (GRI) has formed a comprehensive framework for sustainability reporting approach that is applicable and acceptable in all companies around the world. Environmental guidelines for reporting Global Reporting Initiative (GRI) objective is to streamline reporting standards for all companies, irrespective of size and country.
GRI is aiming at promoting the status of environmental reporting issues. One of the major concerns of GRI under its scope is transparency in issues pertaining to the environment. Global Reporting Initiative is urging all participating companies to give reports of their environmental performance as it is specified in GRI 3(Accountants), 2012).
The recommended reporting guidelines on the environment are contained in the Global Reporting Initiative indicator protocol set. Criteria on biodiversity energy emissions are contained in the indicator protocol set. The environmental indicators as established in GRI 3 are explained from EN 1 (materials used by weight) to EN 30 (the total expenditures on the environment by type of investment). The governance of the environment in relation to GRI GRI executes its duties independently uncontrolled by top-down command power structures related to governments. Sustainability reporting is a concept that engages in environmental performance reporting by institutions and companies around the world.
The definition of sustainable reporting is the way in which organizations examine their own environmental achievements as well as failings, and give the analyzed information to the interested members of the public. Sustainability reporting is also referred to as reflexive environmental law. Reflexive environmental law is a guide in companies that are recommended to analyze their operations and bring in to light the drawbacks and positive effects of their operations as well as revealing how they are dealing with drawbacks, with the main objective of encouraging growth as well as safeguarding the environment.
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