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The economic benefits of Sustainability Reports
Finance & Accounting
Pages 19 (4769 words)
The economic benefits of sustainability reporting Contents Contents 2 Introduction 3 Sustainability reporting – application within organizations 3 Sustainability theories 6 Developmental sustainability reporting 7 Economics of Climate change 9 Corporate Social Reporting 11 Benefits and implications of sustainability reporting practices 12 Improved financial performance 13 Improved investor relationships 13 Finding new markets and business opportunities 14 Improved risk management 14 Creation of a sustainability roadmap 15 Barriers to effective sustainability reporting practices 15 Recommendations 16 Conclusion 18 Introduction Until recent past years, organizations and market were dependent
The procedure is termed as sustainability report. This feature is developed and used extensively in order for companies to strike a balance between them, the society and the environment (GRI, 2012). The people, planet, and profit are the three elements which are considered while studying the elements of sustainability report. Emphasis is given to the stakeholders rather than the shareholders as they are the ones who are mostly directly or indirectly influenced by the activities or the action of any company. The sustainability reporting provides a platform for communication between the company and the stakeholders. This paper presents a detailed analysis of the use, importance, barriers and the economic benefits of using the sustainability report by a company in the daily practice. This allows the society to understand and judge how well an organization or a company is performing. The need of the hour is to make sustainability report a mandate and common practice to benchmark performance. ...
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