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ACC801 Assignment - Sustainable Performance | Wesfarmers
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Added on 2019-09-22
ACC801 Assignment - Sustainable Performance | Wesfarmers
Added on 2019-09-22
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NAME of the studentCHOSENSUSTAINABILITY PERFORMANCEACC801 ASSIGNMENT 2
ContentsPart A: Wesfarmers Comparison........................................................................................2Economic........................................................................................................................2Environmental................................................................................................................3Social – Labour practices and decent work.....................................................................4Social – Human rights.....................................................................................................5Social – Society...............................................................................................................5Social – Product responsibility........................................................................................5Part B: Fuji Xerox Comparison............................................................................................7Conclusions and Recommendations.................................................................................12Wesfarmers..................................................................................................................12Fuji Xerox.....................................................................................................................12Part D: Reflective Journal of personal development.........................................................13References.......................................................................................................................141
Part A: Wesfarmers ComparisonWesfarmers is a leading metallurgical coal producer and supplier of thermal coal forpower generation in Australia. Wesfarmers has been publishing its Sustainability reportwith focus ranging from financial performance to sustainable business practices incarbon and energy, community support, environment, governance and economiccontribution. Wesfarmers has further refined its report in 2014 to include such areasmaterial to the stakeholders as communicated by them during stakeholder engagementconducted on a regular basis in a manner consistent with the principles of the GlobalReporting Initiative (GRI). GRI requires businesses to report on areas which are materialto both the organisation and its stakeholders. (Wesfarmers, 2014 Sustainability Report).The sustainable performance for Wesfarmers for 2014 and 2015 has been analysedunder the categories of:a.Economicb.Environmentalc.SocialThe category social is further analysed into aspects of:a.Labour practices and decent workb.Human rightsc.Societyd.Product ResponsibilityThe analysis is as below:EconomicThe G4-EC1 guideline requires the business to report and disclose the economic valuegenerated and distributed. These needs to be in details as per the basis componentsof the statement of profit or loss at the global and significant regional level. G4 –EC5requires the business to report analytical ratios of standard wages by gender inrelation to local minimum wage at significant locations of operations. Wesfarmershave provided the details in respect of G4-EC1. The company has highlighted that itsoperations has resulted in net outflow of monies to the suppliers amounting to $43million, to 205,000 employees amounting to $7.8 million, to government amountingto $1.6 million in the form taxes and to the shareholders amounting to $2.2 million inthe form of dividends. This has been a steady performance as compared to 2014levels. No data for payments to suppliers were available for 2014. Further the directand indirect community contributions have increased from 2014 levels as per tablebelow:2
(source: 2015 Sustainability report, Wesfarmers)The disclosures by the company in respect of G4-EC5 are not relevant to therequirement as per the GRI guidelines wherein the ratios of standard wages tominimum wages are required. However, in 2015 report the company has disclosed acomment specifying that company complies with the minimum wages requirementsand the wages do not vary by gender.EnvironmentalThe GRI guidelines has specified the disclosures under various aspects of thecategory “environment”. The ones considered by Wesfarmers are summarised asfollows. G4-EN5 requires the business to report on the details relating to energyintensity ratio. The total energy consumption by the business is to be reported in thissection. G4- EN8 focuses on the total water withdrawal by source with inclusions ofassumptions and methodologies adopted. G4-EN15, G4-EN16 and G4-EN17 focuseson the aspect of “emissions” requiring the business to report on the greenhouse gasemissions by the company further categorised into the scope of direct emissions,indirect emissions and certain other identified indirect emissions. Various quantitativedetails are required in support of the improvements or otherwise in the emissionsclaimed by the business. Further, impacts of the emissions specifically relating tooperations of the company dealing with the transport of goods and services andmanpower are to be highlighted as per G4-EN31. GR-EN23 requires reporting on thehazardous and non-hazardous waste generated by the business operations and themethods of disposal.3
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