Financial Accounting Report

This report analyzes six research papers on environmental sustainability in mining and critically reviews Rio Tinto's 2017 Sustainability Report, highlighting their efforts in greenhouse gas reduction, water management, and employee safety. The report emphasizes the importance of corporate accountability and sustainable practices in the mining industry.

Financial Accounting

Table of Contents
INTRODUCTION...........................................................................................................................1
CRITICAL REVIEW OF SIX DIFFERENT PAPERS...................................................................1
CRITICAL REVIEW OF THE RIO TINO'S SUSTAINABILITY REPORT .............................4
CONCLUSION................................................................................................................................5

INTRODUCTION
Financial accounting analysis is a process of reviewing and analysing the financial
statement of a company. The statements includes different aspects along with this comes the
sustainability and environmental report of company. The corporates social responsibility defines
the sates and actions taken by a business towards protection of the environmental from the harm
and damages caused by operations and activities of company. In the present report a 6 paper
written by various authors and writers are critically reviews to defined there significance and
usefulness. Along with this a sustainability development report of Rio Tino 2017 is critically
discussed over actions taken by the organisation towards suitability.
CRITICAL REVIEW OF SIX DIFFERENT PAPERS
1. Environmentally sustainable mining: The case of tailings storage
facilities
:
In this paper a discussion related with environmental impact of mining is presented.
The focus is kept on presenting remedies and safeguard to the livelihoods of the local
population. The focal point is tailing storage facilities (TSF)which is identified as a main reason
for the mining related disaster. The issue raised in the research parers is related with identifying
the negative impact of TSF on the environment. The research method used is qualitative one and
for this three mines ok Tedi, Mclunghlin and Mountv Pollry have been researched.
Out of these three tow of the mines ended in disaster and only one operated
successfulness. This paper have clearly identified the fact the the failures of mines was due to the
TSF. The designing and construction of the TSF in the mines faced technical challenges but the
reason for their failure is political not technical (Schoenberger, 2016). The cons related with
this research have been identifies as the research method which did not considerer any figurative
data in the research. It has been identified by the researcher of this paper that mining requires, a
more far reaching interdisciplinary engagement chain for avoiding the political interference and
a better waste management as well as determining as what to do with tailing.
2. Corporate social responsibility and
the parameters of dialogue with
vulnerable others
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This research paper have indulges in detail discussion related with presenting a case
study of cooperate dialogue with vulnerable others employing disclosure analysis approach. The
issues in this paper raised is related with making corporate social responsibility possible for the
organisation with marginalising with external groups. The study is based on the case of
Ravensthorpe Nickel mine. The positives of this research is that it engaged the process of
disclosure analysis for the data spinning around the corporate public communication and
interviews were also taken from the resident effected by the decision of the mine (Mayes, Pini,
& McDonald, 2013). The drawback of this research is that the limited organisations are directly
researched that is only one. The results of the research has presented the fact that the CRS
disclosure and practices around the dialogue with vulnerable others that is stakeholders have
presented a systematic privileges.
A signifiant relation and position within the dialogues have occurred normatively. The
analysis from this research paper have been done as mines corporation provides employment
and this ways also they affect the the society and communities. This is also their corporate social
responsibility and the case study of Ravensthorpe Nickel mine have direct implications on the
corporate dialogue and the stakeholder.
3. Environmental incidents in a
developing country and corporate
environmental disclosures:
The research paper is about examining the environmental disclosures initiative taken by
the Niko
Resources Ltd, which is Canada based multi nations gas and oil company. A disaster happen in
2005 in this organisation which were considered to be major environmental blowouts. The issues
presented in this paper is to identify the fact that whether the disclosure strategy of this company
were associated with the public concern or not (Azizul Islam & Aminul Islam, 2011). The the
positive aspect of this research was it design as its considers annual reports, press release and
responsibility reports of the company to research a effective outcome. The negative can be
outlines as non financial environmental discloser of Niko and no suggestions was made.
The outcomes of the research reflected the fact that the organisation Niko failed in
providing its non financial environmental information in its annual reports. And press release.
Its was a inherent responsibility of a mining organisation towards community and local people
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who were affected by the blowouts. The company did not produces a single report for addressing
the issue. No the other hand Niko have clearly mentioned meeting its environmental contingent
liability adhered upon on it with meeting its regulatory requirements. The stand along measures
of environmental safety of Mike were related with public pressure which was measured by the
negative media coverage .
4. Using sustainability reporting to assess the environmental footprint of copper
mining
This article have evaluated the issues related with energy, waters intensity and
greenhouse gas and the environmental footprints by the global copper production mines. The
strength of this reposts is that is is conducted with collection of primary data by the annual
sustainability report which were published by various copper mines, operators and companies.
The water footprint in this article was analysed at 70.4 kL/t Cu but can range from
several kilolitres to up to 350 kL/t Cu. The reason for changing entity of water have been
identified by the researches as inconsistency the the methods of reporting, geographical location
of the mining operations and limited economies of scale of the production sites (Northey, Haque
& Mudd, 2013). The research outcomes have shown that facts that the suitability report of the
companies should clearly specify the usage of fuel by the type of vehicles used in the mining
process. The paper provides a valuable insight into the
strong value of sustainability reporting for an industrial sector such as copper mining and how
such data
can be linked to life cycle assessment studies.
5. Corporate governance and environmental
reporting: a Australian study:
The purpose of conducting the research paper is to investigate the relationship between
environmental reporting and corporate governance in the companies of Australia. The positives
of the articles is that qualitative research design have been used to examinee the annual reports
of 100 firms of Australia. All the companies chose were the not listed on the stock exchange of
the nations for determining the environmental reporting amount (Kathy Rao, Tilt, & Lester,
2012). The outcomes of the research have presented the fact that a there is a significant
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relationship between the reporting of the environmental suitability ad influence of the
independent as well as female directors on the board. The analysis did not,
however, support a negative relationship between the extent of environmental reporting and
institutional
investors and board size as has been previously predicted, rather, it showed a positive
relationship.
6. Corporate accountability in the
Samarco chemical sludge disaster
The issues presented in this research paper is related with exploring the avenues of
corporate accountability in disaster which the use of Samarco chemical disaster happened in
2015 in Brazil. The research design of this article was n location ans assessment of different
types of written sources. The positives of this research paper is that its used the normative
instruments and literature reviews while the limitation of this research was that it is a document
analysis rather then fieldwork (da Costa, 2017). The outcomes of this article present the key
findings as measures that might be undertaken by the national authorities to address the
disasters. The MNCs a and organisation are presented with the Organisation for Economic
Cooperation and Development Guidelines which can be pursued corporate accountability.
CRITICAL REVIEW OF THE RIO TINO'S SUSTAINABILITY REPORT
Rio Tino has been engaged in the production of products necessary for human
development from past 145 years. The organisation meet the needs and demand of the consumers
through the mineral and metal they produce. the produces material are used in developments and
innovation of technologies and assisting in the working of modern life. The company Ris Tino is
a leading international mining and metals group with helping people, communities, government
by working with joint ventures, customers suppliers and society.
The organisation have accepted the fact that there activities and operation directly and
indirectly affect the communities and environment in a negative and positive manner. The
company works effectively to minimise the negative effects and share wealth and benefits form
the business to broad society.
The Contributions which have been made by Rio Tino in the direction of sustainable
development are mingles with the commercial outcome of the company. The first effort in this
direction is identified as the partner to operate approach. In this approach the business get
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guidelines for creating a balance and bringing in together the internal priorities with the network
of the stakeholders and the changing external environment in which the business operates.
In the direction of environmental protection the business have taken an efficient and
significant action to bring the sustainable growth of nature. For the year 2017 the green house
gas emission have been reduced by 27% since 2008 (RIO TINO'S SUSTAINABILITY REPORT,
2017). The company's 69% of the electricity is sourced from the renewable energy sources. In
this same year the organisation have initiated a new development of biodiversity protection and
natural resource management standard. The company have set a aim of sustainable
decarbonisation of its business by 2050 in which sets will be taken for energy use, managing
risk, building resilience to climate change and planning a enhanced role in lower carbon
emission. The company uses international energy agency;s 450 scenario to determine the
resilience of goods manufactured by the organisation. In the year 2017 the company have
achieved 2% reduction in the greenhouse gas emission.
The company have worked in direction of protection of natural resource. Rio Tino is
working for sustainable development is water. It has stated that water is not solely about
constrained supply. Each of its operations has its own water context – while some operations are
located in
water-scarce environments, others must manage intense rainfall. The company have stared
facing waters problems at its various sites due to climatic changes. For this management
programs have been developed and in the year 2017, 77% of the operations of the company
were on track by meeting their local water performance targets for 2018. In this year 1187
billion litres of waters was used and recycled by company. Out of 791 billion litres of the water
206 billion litres is drawn from poor sources while 584 is drawn from fresh water resources.
However the company is also engaged in the management and processing of Tailing as
well. The tailings are the residues while are created from the mining, refining, smelting and
waters treatment process. The tailing operations and facility of water resources are currently
present at 30 sites of the company. Moreover the company have worked in the direction of
sustainable performance. In this the company have set goals to incur zero harm at workplace and
the injury frequency rate per 200000 hours worked also A year-on-year improvement in the rate
of new cases of occupational illness
per 10,000 employees annually is also seen.
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CONCLUSION
From the above report it can be stated that the mining organisation owes a significant
duty and responsibility towards the local communities and member of public. In this context a
analysis is 6 different research paper have been done With the critical evaluation of all 6 papers
it have clearly identified that organisation generally failed in complying with meeting the
regulatory requirements and also failure in application of right technician resulted in closure of
the mines. The mines business also with all other types business owns a corporate social
responsibilities towards communities and people. All 6 articles have been critically reviews
with identifying the sources of each articles presenting their positives and negative and
evaluations of the research outcomes. The sustainability of Rio Tino have shoes the facts that
company have taken serious step to reduce green house gas effect and waters protection. It has
worked in direction of employee suitability as well.
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REFERENCES
Azizul Islam, M., & Aminul Islam, M. (2011). Environmental incidents in a developing country
and corporate environmental disclosures: A study of a multinational gas company. Society
and Business Review.6(3). 229-248.
da Costa, K. (2017). Corporate accountability in the Samarco chemical sludge disaster. Disaster
Prevention and Management. 26(5). 540-552.
Kathy Rao, K., Tilt, C. A., & Lester, L. H. (2012). Corporate governance and environmental
reporting: an Australian study. Corporate Governance: The international journal of
business in society. 12(2). 143-163.
Mayes, R., Pini, B., & McDonald, P. (2013). Corporate social responsibility and the parameters
of dialogue with vulnerable others. Organization. 20(6). 840-859.
Northey, S., Haque, N., & Mudd, G. (2013). Using sustainability reporting to assess the
environmental footprint of copper mining. Journal of Cleaner Production. 40. 118-128.
Schoenberger, E. (2016). Environmentally sustainable mining: The case of tailings storage
facilities. Resources Policy. 49. 119-128.
Online
RIO TINO'S SUSTAINABILITY REPORT. 2017 .[PDF]. Available
through :<http://www.riotinto.com/documents/RT_SD2017.pdf>.
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