Bunnings Sustainability Practices and Reporting

This assignment analyzes Bunnings' sustainability initiatives within the furnishing industry. It explores their sustainable reporting activities and contributions to environmental responsibility. The document highlights the significance of sustainability for businesses and emphasizes the role of government regulations in promoting sustainable reporting practices.

Running Head: Contemporary issues in accounting
Contemporary issues in accounting

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Executive Summary
Sustainability accounting refers to the tool which is used by organizations to help them to
become more sustainable in the field in which they are working. The below mentioned task talks
about the sustainable practices implemented by the company Bunnings; and effect of these
activities on the environment. Further the sustainable reporting helps the company to analyze the
areas where they need to focus and implement activities accordingly. More details about the task
are discussed below:

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Contents
Executive Summary.....................................................................................................................................1
Introduction.................................................................................................................................................1
Products of Bunnings Warehouse...............................................................................................................1
Role of corporate sustainability reporting in Bunnings warehouse.............................................................1
Bunnings Sustainability................................................................................................................................2
Contribution of company in market............................................................................................................3
Environmental effect...................................................................................................................................3
Existing market............................................................................................................................................4
Recommendation........................................................................................................................................4
Conclusion...................................................................................................................................................4
References...................................................................................................................................................5

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Introduction
The purpose of this task is to provide brief overview about the corporate sustainability
accounting activities of the company Bunnings Warehouse. Corporate sustainability accounting
refers to the practice of financial accounting which involves the disclosure of non-financial
information about the activities of the company implemented in the environment. This type of
activities of the company shows their social and cultural responsibilities against the environment.
Further the Bunnings Warehouse is an international household hardware chain store of Australia
which has its activities initiated in New Zealand, Ireland and United Kingdom as well. The
company is owned by Wesfarmers retail chain store since 1994 (Bunnings 2018). Further the
sustainability reporting of the company is discussed below:
Products of Bunnings Warehouse
Bunnings is leading retailer of household and outdoor furnishing products. Further there are
numerous products served by the company in the external market. Many types of tools are
provided by the company such as power tools, hand tools, tool accessories and in building and
hardware decking, landscape, timber, roofing, fencing building board etc. products are served by
the company. Garden décor is also provided by the company namely plants, landscaping, hand
and power tools for garden etc. are provided by the company (Bebbington, Unerman, and
O'Dwyer 2014). In the category of outdoor fancy living products like barbeque, outdoor play
equipment, swimming pool, shade and spas etc. are provided by the company. Kitchen,
bathroom, decorating, storage, lighting etc. products are provided by the company. Many
varieties are also provided under the above mentioned list. Services are also provided by the
company like, kitchen designs, hire shops, special orders and customer bench tops. Customers
can customize the type of furniture they require for their place (Bunnings 2018).
Role of corporate sustainability reporting in Bunnings warehouse
Sustainability has now days grown as an accepted obligation more than responsibilities of
companies. Sustainability reporting helps an organization to recognize and implement the long
term goals of the company. Further sustainability reporting helps an organization to analyze the

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obligations of the company related to the environment and act accordingly. In the organization
Bunnings it is very important for the company to hold up to their sustainable reporting so as to
help company to achieve success in all segments of the environment (Ioannou, and Serafeim
2017). Sustainability accounting focuses more on managerial accounting than financial
accounting as it is used by companies to implement the internal decisions in the company and
creation of new policies. Further this aspect reflects the growth of the company in the external
environment at three level namely, people, planet and profit.
Considering the need of sustainability reporting in the company Bunnings Warehouse, it shall be
noted that the company being working on large scale crucially understands the need and
importance of sustainability activities in the management (Ball, Grubnic, and Birchall 2014).
Further the following activities shows the need of sustainability reporting in the company
Bunnings:
 Competitive Advantage: The major benefit of maintaining the books for sustainability
reporting is that it helps the company to focus on specific issue and work on them so as to
improve them. These activities help the company to gain recognition in the market. The
company reduces their cost of absorbed by unsustainable activities due to which they get
reserves to spend on increasing the sustainable activities of the company. Thus, in order
to gain competitive advantage in the target market, Bunnings initiates the sustainable
reporting their business process (Khan, Serafeim, and Yoon 2016).
 Enhancement of company’s image and customer loyalty: further this activity is the
need of the business it helps them to create loyalty i the eyes of the customers. With the
initiation of sustainability activities, the company gains recognition in the market due to
which an identified image created in the market. Further it does not mean that recognition
will create trust but activities of the company implemented in the target market do.
Therefore, the sustainable practices are implemented in such a way that the customer
gains a sense of satisfaction which subsequently increases their level of trust as well.
 Risk Management: Corporate social responsibility reporting allows the stakeholders of
the company to make more informed decision based on the future risks that the company
might take. Thus, type of reporting helps the company to create a relation with the

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environmental, social, economic etc. factors present in the society and minimize the risks
as well.
Bunnings Sustainability
As discussed above is considered as an important aspect in the furnishing business as the
resources used by the company are natural resources only. Thus the organization needs to initiate
sustainable practices and inculcate it in the behavior of employees as well. This practice of the
company will initiate sustainable practices in the environment. Further sustainability of a
company refers to the practices of implementing activities in the management which helps the
company to grow in log run. Sustainable practices can only be implied in an organization if the
employees and concerned enough for the development of the external environment along with
internal environment of the organization (Cheng, et al., 2014).
So, in response to that the Bunning will attain growth in long run by implementing activities
which supports the nature and do not harm the interest of the stakeholders as well. Sustainable
furnishing activities shall be implemented in the organization which do not waste the natural
resources and produce products which provide long term benefits to the customers of the
company. Lastly, in this way Bunnings will create sustainability in the environment.
Contribution of company in market
As the company has a history of taking real life action into implementation, the company has
implemented below mentioned strategies to contribute their part in the society:
 Report Cards: accounting of sustainable activities is important the organization it helps
them to focus on crucial areas. The 2017 community report tells about the ongoing
sustainable commitments of the company. The report underlines the areas where the
company is currently focusing and the community involvement activities of the company.
 Less consumption of energy: Climate change is widely recognized as one of the most
pressuring challenge for the company to cope up with. So, the company aims to use less
or minimal energy to produce the resources concerning the available of energy in the

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environment. Initiatives like energy efficient lighting system are led by the company
which reduces the use of energy in production process (Peters, and Romi 2014).
 Less water and waste: The goal of the company is to responsibly produce less waste in
the environment through their business activities. Recycling activities are implemented
and with eco-friendly packaging activities as well; Due to which the spare products of the
company are used and less pollutants are delivered in the environment.
 Responsible sourcing: The Company responsibly holds up to the products and services
which they supply in the environment. As the activities of the company are sourced
worldwide, so Bunnings they initiate sustainable operations in their process with good
working conditions and fair treatment with all stakeholders as well.
Environmental effect
Although the company is present in an industry which adversely hampers the growth of the
environment but the organization manages to survive through sustainable accounting practices.
The basic product for the company is wood and other natural resources which are getting
depleted. And careless activities of companies are increasing the stress of many communities as
well. So, the Bunnings aims to reduce the negative impact on environment through their business
activities. By contributing their share in the society ad upholding the sustainable laws maintained
in the environment; the company creates a positive impact on the society.
Existing market
The company exists in parts of Australia, New Zealand, Ireland and United Kingdom. The
Company operates in hardware markets of these countries. Bunnings is involved in varied sectors
of furnishing business like garden equipment, kitchen décor etc. (Schaltegger, and Wagner
2017).
Recommendation
It shall be recommended to the company that shall responsibly save the information about the
sustainability report of the company. Also this report shall be circulated to the people worldwide
who are stakeholders of the company so as to understand the activities initiated by them. Further

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in order to start the sustainability accounting activities in the whole industry, the company shall
involve in public events are spread news about such activities as well.
Conclusion
Thus, in the limelight of above mentioned events the fact that shall be noted is that sustainability
is a responsibility of every organization and person prevailing in the environment. Sustainability
helps the industry on a whole to work in long run and improve the productivity as well. Further
the above mentioned task tells about the sustainable activities of the company Bunnings which is
present in the furnishing industry. The company adequately fulfills their sustainable reporting
activities in the management system so as to contribute their share in the environment. Lastly,
the state of the environment is getting depleted day by day so it is important for the governments
to regulate guidelines to maintain the sustainable reporting in the environment.

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References
Ball, A., Grubnic, S. and Birchall, J., 2014. 11 Sustainability accounting and accountability in
the public sector. Sustainability accounting and accountability, p.176.
Ball, A., Grubnic, S. and Birchall, J., 2014. 11 Sustainability accounting and accountability in
the public sector. Sustainability accounting and accountability, p.176.
Bebbington, J., Unerman, J. and O'Dwyer, B. eds., 2014. Sustainability accounting and
accountability. Routledge.
Bunnings., 2018. Bunnings and sustainability. Viewed on January 19, 2018 from
https://www.bunnings.com.au/about-us/our-actions
Bunnings., 2018. In Our Community. Viewed on January 19, 2018 from <
https://www.bunnings.com.au/about-us/in-our-community>
Cheng, M., Green, W., Conradie, P., Konishi, N. and Romi, A., 2014. The international
integrated reporting framework: key issues and future research opportunities. Journal of
International Financial Management & Accounting, 25(1), pp.90-119.
Ioannou, I. and Serafeim, G., 2017. The consequences of mandatory corporate sustainability
reporting.
Khan, M., Serafeim, G. and Yoon, A., 2016. Corporate sustainability: First evidence on
materiality. The accounting review, 91(6), pp.1697-1724.
Maas, K., Schaltegger, S. and Crutzen, N., 2016. Integrating corporate sustainability assessment,
management accounting, control, and reporting. Journal of Cleaner Production, 136, pp.237-
248.
Martínez‐Ferrero, J., Garcia‐Sanchez, I.M. and Cuadrado‐Ballesteros, B., 2015. Effect of
financial reporting quality on sustainability information disclosure. Corporate Social
Responsibility and Environmental Management, 22(1), pp.45-64.

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Peters, G.F. and Romi, A.M., 2014. The association between sustainability governance
characteristics and the assurance of corporate sustainability reports. Auditing: A Journal of
Practice & Theory, 34(1), pp.163-198.
Schaltegger, S. and Wagner, M. eds., 2017. Managing the business case for sustainability: The
integration of social, environmental and economic performance. Routledge.
Thomson, I., 2015. ‘But does sustainability need capitalism or an integrated report’a commentary
on ‘The International Integrated Reporting Council: A story of failure’by Flower, J. Critical
Perspectives on Accounting, 27, pp.18-22.