Corporate Sustainability
Author:
Genre: Business

Provide a summary of the purpose of Corporate Sustainability Reporting by referring to the Global Reporting Initiative’s Sustainability Reporting Framework (G3.1).

About the Book

Corporate Sustainability

A sustainability report is a report prepared by the organizations for the public and the stake holders. It is included in the annual report of some companies and some companies like to publish it separately. Basically, this report consists of the economic environmental and social performance of an organization. In this modern era the concept of business is changing daily, every day these organizations have to be flexible enough to mold themselves according the environment, to survive in the long run.  The basic aim of preparing these reports is to inform the customers about company’s dedication towards sustainability development to their valuable stakeholders and the society. Sustainability reporting consists of reports of all the efforts made by organization to save the resources  and sustainability use of resources so that they can be utilized for longer period of decades , it’s a way to serve the society but with this it also helps the organization to save its cost by creating a sustainability value for their organization. (Global Reporting Initiative Website, 2010)

Sustainability reports are not just ways of informing the internal and external stakeholders, but now days it is even used by the different credit rating agencies while evaluating the organizations. Sometimes the sustainability development also helps in creating the brand value of the organization by doing some eye catching sustainability work. The awareness among the people has also made it compulsory for organizations to survive in the long run. These reports reflect the organizations belongingness towards the society by their good sustainability decision making (The Goldman Sachs Group, 2009). In this competitive era sustainability development also plays a key role in the success of the organization.

These days many welfare associations are also actively participating and raising their voices against the bad practices of the organization which harm the environment, society or corporate governance (KPMG, 2008). They bring such crimes of organization before the society through print and T.V media. Even these associations are taking legal actions against these companies and bring them to justice.

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