The Global Reporting Initiative Has a Mission to Develop Global Sustainability Reporting Guidelines for Voluntary Use by Organis

The Global Reporting Initiative Has a Mission to Develop Global Sustainability Reporting Guidelines for Voluntary Use by Organis Essay example
Masters
Essay
Finance & Accounting
Pages 8 (2008 words)
Download 0
The Global Reporting Initiative has a mission to develop global sustainability reporting guidelines for voluntary use by organisations. 1. Introduction The development of sustainability in organizations worldwide is promoted through a series of initiatives and plans…

Introduction

The specific Initiative has been proved particularly valuable leading to the increase of the power of sustainability as related to organizational reporting. At this point, the following issue has appeared: which can be the actual value of the information provided through the reporting rules used in the context of GRI. The specific issue is examined and evaluated in this paper. Emphasis is given on the value of the above information for the firms’ shareholders. Reference is made, as an example, to four firms listed in FTSE 100, aiming to show that GRI can be highly valued by a firm’s shareholders, even if there is no previous involvement of a particular organization in similar initiatives. It is made clear that firms are urged to produce the specific type of information under the pressure to respond to the demands of different parties; the adoption of GRI rules by competitors can also lead firms to participate in the specific scheme. 2. Global Reporting Initiative 2.1 Key points of the Initiative As noted above, the key aim of the Global Reporting Initiative is to urge organizations to use sustainability-reporting rules (Global Reporting Initiative 2012). GRI is ‘a non-profit voluntary organization’ (Global Reporting Initiative 2012) that produces such rules. These rules are voluntary, meaning that organizations are not obliged to adopt them. ...
Download paper
Not exactly what you need?

Related papers

Corporate sustainability reporting
At the same time, as developments in technology and knowledge are contributing to financial development, they also have the potential to assist resolving the threats and risks to the sustainability of environment, social relations and economies. Sustainability reporting is the kind of practice of disclosing, measuring, and being accountable to external and internal stakeholders for organizational…
The Global Reporting Initiative
To hold these expectations and to communicate clearly about sustainability, a global framework model and continuous metrics and language is required and Global Reporting Initiative (GRI) fulfills this. GRI relies on association of the expert from large networks in collaboration with consensus seeking consultation from groups of stakeholders. Since the foundation of GRI, these consultations with…
Sustainability and Integrated Reporting - A New Approach
The benefits and challenges of this reporting is looked into and the need to adopt in corporations. Woolworth, a categorical large corporation is analysed in regards to the extent it has adopted integrated accounting. Guidelines for integrated reporting are set out globally through various bodies like the International integration reporting committee amongst others. The meaning of sustainability…
Global Reporting Initiative and Sustainable Reporting
The increase in regulatory scrutiny, the emergence of new standards and the heightened interest on the part of public and private policymakers are the reasons why sustainability reporting becomes imperative for organizations today. To demonstrate this, this paper will explore one of the most widely recognized sustainability standards, the Global Reporting Initiative. Reporting Standard The Global…
Corporate Environmental ,Social and Sustainability Reporting
Defining Sustainability The UN Brundtland Commission (1987) describes, "Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs" (UN Commission, 1987). This definition in itself explains why it has been important and necessary for organizations to implement sustainability reporting whether they are in…
VOLUNTARY SUSTAINABILITY DISCLOSURE (Accounting)
It may be argued that the above definition portrays a simplistic view of sustainability. Hence, one of the greatest difficulties encountered by corporations is to break down the sustainability phenomenon into objective goals. According to O’Dwyer’s definition of what he terms as managerial capture, corporations must define sustainability for themselves keeping in view their primary concern of…
To what extent does the bhpbilliton's sustainability report comply with the GRI's Sustainability Reporting Guidelines G3. Sust
Discussion would also be done regarding the decision to provide assurance to the sustainability reports or not and if yes, then to which level. However, it is not viable to consider every industry and their companies, so in this report, BHP Billiton would be considered for the analysis (Adams, 2006; Hooghiemstra, 2000). Sustainability Reporting Sustainability reporting involves not only generating…