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Sustainability Reporting
Sustainability reporting refers to the disclosure, whether voluntary, solicited, or required, of non-financial performance information to outsiders of the organization. Generally speaking, sustainability reporting deals with information concerning environmental, social, economic and governance issues in the broadest sense. These are the criteria gathered under the acronym ESG (Environmental, social and corporate governance). The introduction of these non-financial information in published reports is seen as a step forward in corporate communication and considered as an effective way to increase corporate engagement and transparency. Sustainability reports help companies build consumer confidence and improve corporate reputations through social responsibility programs and transparent risk management. This communication aims at giving stakeholders broader access to relevant information outside the financial sphere that also influences the company's performance. In the EU, the manda ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environmental, Social And Corporate Governance
ESG (environmental, social, and corporate governance) data reflect the negative externalities (costs to others) caused by an organization with respect to the environment, to society and to corporate governance. ESG data can be used by investors to assess the material risk the organization is taking and by the organization itself as metrics for strategic and managerial purposes. Investors may also use ESG data beyond assessing material risks to the organization in their evaluation of enterprise value, specifically by designing models based on assumptions that the identification, assessment and management of sustainability-related risks and opportunities in respect to all organizational stakeholders leads to higher long-term risk-adjusted return. Organizational stakeholders include but not limited to customers, suppliers, employees, leadership, and the environment. Since 2020, there has been accelerating interest in overlaying ESG data with the Sustainable Development Goals ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply Chain
In commerce, a supply chain is a network of facilities that procure raw materials, transform them into intermediate goods and then final products to customers through a distribution system. It refers to the network of organizations, people, activities, information, and resources involved in delivering a product or service to a consumer. Supply chain activities involve the transformation of natural resources, raw materials, and components into a finished product and delivering the same to the end customer. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains. Suppliers in a supply chain are often ranked by "tier", with first-tier suppliers supplying directly to the client, second-tier suppliers supplying to the first tier, and so on. Overview A typical supply chain begins with the ecological, biological, and political regulation of natural resources, followed by the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carbon Disclosure Project
The CDP (formerly the Carbon Disclosure Project) is an international non-profit organisation based in the United Kingdom, Japan, India, China, Germany and the United States of America that helps companies and cities disclose their environmental impact. It aims to make environmental reporting and risk management a business norm, driving disclosure, insight, and action towards a sustainable economy. In 2021, over 14,000 organizations disclosed their environmental information through CDP. Background CDP piggybacked on GRI's concept of environmental disclosure in 2002, focusing on individual companies rather than on nations. At the time CDP had just 35 investors signing its request for climate information and 245 companies responding. Today, nearly a fifth of global greenhouse gas emissions are reported through CDP. Some corporations have higher greenhouse gas emissions than individual nation states. Some leading companies have moved to become carbon neutral, but for others t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sustainability Accounting Standards Board
The Sustainability Accounting Standards Board (SASB) is a non-profit organization, founded in 2011 by Jean Rogers to develop sustainability accounting standards. Investors, lenders, insurance underwriters, and other providers of financial capital are increasingly attuned to the impact of environmental, social, and governance (ESG) factors on the financial performance of companies, driving the need for standardized reporting of ESG data. Just as the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have established International Financial Reporting Standards and Generally Accepted Accounting Principles (GAAP), respectively, which are currently used in the financial statements, SASB's stated mission “is to establish industry-specific disclosure standards across ESG topics that facilitate communication between companies and investors about financially material, decision-useful information. Such information should be relevant, relia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Greenwashing
Greenwashing (a compound word modeled on " whitewash"), also called "green sheen", is a form of advertising or marketing spin in which green PR and green marketing are deceptively used to persuade the public that an organization's products, aims and policies are environmentally friendly. Companies that intentionally take up greenwashing communication strategies often do so in order to distance themselves from the environmental lapses of themselves or their suppliers. An example of greenwashing is when an organization spends significantly more resources on advertising being "green" than on environmentally sound practices. Greenwashing can range from changing the name or label of a product to evoke the natural environment (for example on a product containing harmful chemicals) to multimillion-dollar campaigns that portray highly-polluting energy companies as eco-friendly. Greenwashing covers up unsustainable corporate agendas and policies. Highly public accusations of greenwashi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Financial Reporting Advisory Group
The European Financial Reporting Advisory Group is a private association established in 2001 with the encouragement of the European Commission to serve the public interest. Its Member Organisations are European stakeholders and National Organisations having knowledge and interest in the development of IFRS International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). They constitute a standardised way of describing the company's fina ... and how they contribute to the efficiency of capital markets. In 2022, the group extended its mission to providing technical advice to the European Commission in the form of fully prepared drafts of EU Sustainability Reporting Standards. Mission statement EFRAG's mission is to develop and promote European views in a thought leadership role and to ensure that they are properly taken into account in the IASB standard setting pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eco-Management And Audit Scheme
The Eco-Management and Audit Scheme (EMAS) is a voluntary environmental management instrument, which was developed in 1993 by the European Commission. It enables organizations to assess, manage and continuously improve their environmental performance. The scheme is globally applicable and open to all types of private and public organizations. In order to register with EMAS, organisations must meet the requirements of the EU EMAS-Regulation. Currently, more than 4,600 organisations and more than 7,900 sites are EMAS registered. Regulation: structure The EU EMAS Regulation entails 52 Articles and 8 Annexes: * Chapter I: General provisions * Chapter II: Registration of organisations * Chapter III: Obligations of registered organisations * Chapter IV: Rules applicable to Competent Bodies * Chapter V: Environmental verifier's * Chapter VI: Accreditation and Licensing Bodies * Chapter VII: Rules applicable to Member States * Chapter VIII: Rules applicable to the Commission * Chapter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Organization For Standardization
The International Organization for Standardization (ISO ) is an international standard development organization composed of representatives from the national standards organizations of member countries. Membership requirements are given in Article 3 of the ISO Statutes. ISO was founded on 23 February 1947, and (as of November 2022) it has published over 24,500 international standards covering almost all aspects of technology and manufacturing. It has 809 Technical committees and sub committees to take care of standards development. The organization develops and publishes standardization in all technical and nontechnical fields other than Electrical engineering, electrical and electronic engineering, which is handled by the International Electrotechnical Commission, IEC.Editors of Encyclopedia Britannica. 3 June 2021.International Organization for Standardization" ''Encyclopedia Britannica''. Retrieved 2022-04-26. It is headquartered in Geneva, Switzerland, and works in 167 coun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OECD Guidelines For Multinational Enterprises
The OECD Guidelines for Multinational Enterprises are recommendations on responsible business conduct addressed by governments to multinational enterprises operating in or from the 50 adhering countries. The Guidelines provide non-binding principles and standards for responsible business conduct in a global context that are consistent with applicable laws and internationally recognised standards. The Guidelines are legally non-binding, but the OECD Investment Committee and its Working Party on Responsible Business Conduct encourage implementation among adherents. The most concrete manifestation of government commitment to the principles set forth in the Guidelines are the National Contact Points (NCPs), which are offices charged with promoting observance of the Guidelines by multinational enterprises. Each of the 50 adhering countries are required to set up an NCP. Among other tasks, NCPs are charged with supporting a grievance mechanism called 'specific instances' — under this ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations
The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and security, develop friendly relations among nations, achieve international cooperation, and be a centre for harmonizing the actions of nations. It is the world's largest and most familiar international organization. The UN is headquartered on international territory in New York City, and has other main offices in Geneva, Nairobi, Vienna, and The Hague (home to the International Court of Justice). The UN was established after World War II with the aim of preventing future world wars, succeeding the League of Nations, which was characterized as ineffective. On 25 April 1945, 50 governments met in San Francisco for a conference and started drafting the UN Charter, which was adopted on 25 June 1945 and took effect on 24 October 1945, when the UN began operations. Pursuant to the Charter, the organization's objectives include maintaining internationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sustainable Development Goals
The Sustainable Development Goals (SDGs) or Global Goals are a collection of 17 interlinked objectives designed to serve as a "shared blueprint for peace and prosperity for people and the planet, now and into the future".United Nations (2017) Resolution adopted by the General Assembly on 6 July 2017, Work of the Statistical Commission pertaining to the 2030 Agenda for Sustainable DevelopmentA/RES/71/313) The goals are: No poverty, zero hunger, good health and well-being, quality education, gender equality, clean water and sanitation, affordable and clean energy, decent work and economic growth, industry, innovation and infrastructure, Reduced Inequality, Sustainable Cities and Communities, Responsible Consumption and Production, Climate Action, Life Below Water, Life On Land, Peace, Justice, and Strong Institutions, Partnerships for the Goals. The SDGs emphasize the interconnected environmental, social and economic aspects of sustainable development by putting sus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Business Council For Sustainable Development
The World Business Council for Sustainable Development (WBCSD) is a CEO-led organization of over 200 international companies. The Council is also connected to 60 national and regional business councils and partner organizations. Its origins date back to the Rio de Janeiro Earth Summit of 1992, when Stephan Schmidheiny, a Swiss business entrepreneur, was appointed chief adviser for business and industry to the secretary general of the United Nations Conference on Environment and Development (UNCED). He created a forum called "Business Council for Sustainable Development", which went on to become ''Changing Course'', a book that coined the concept of eco-efficiency. The WBCSD was created in 1995 as a merger of the Business Council for Sustainable Development and the World Industry Council for the Environment and is based at the Maison de la paix in Geneva, Switzerland, with offices in New York and New Delhi. Operations The Council works on a variety of issues related to sust ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
