Current developments of sustainability reporting
1 current status of entities’ sustainability reporting.
In Australia, the reporting rate is much lower than average rate, with 41percent and 23 percent respectively (Parliament of Australia, 2010).
And this number is even far more behind other leading countries. In Japan the rate reached to 81 percent. Even government departments are less likely to publish reports voluntarily. The low rate of report is due to lack of incentives from mainstream financial market. Although the reporting rate is lower than average, the rate itself is increasing (Parliament of Australia, 2010).
In other nations, the development of sustainability reporting is irresistible. Relevant regulations and acts are set to make reporting regular and mandatory (Parliament of Australia, 2010).
2 the developments of reporting system
GRI offers the framework of sustainability report. The original sustainability reports were single issue reports which focused on either environmental or social performance. These one-dimensional reports have been replaced over time with the presentation of a variety of non-financial information through integrated sustainability reports (Parliament of Australia, 2010). In 2006, the most recent update of GRI was occurred. The G3 Guidelines are the cornerstone of the GRI Sustainability Reporting Framework. It is recommended to be used as basis for all organizations’ reports. And it is updated by a lot of researches, for the purpose of better assessing corporate performance by continuous providing newer and more accurate indicators. Moreover, it consummates reporting principals and guidelines-offering report contents, report quality define criteria and report boundary.
Relevant implementation issue
As OT is still using traditional energy to generate power and facing more and more severe water relating cost problem, both new production processing and accounting system needed to be installed.
For the sustainability.
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Current Developments of Sustainability Reporting Essay. (2018, Sep 02). Retrieved from https://graduateway.com/current-developments-of-sustainability-reporting/