Corporate Governance and Ethics: Assessment of Sustainability Reporting Standards of GRI

Running head: CORPORATE GOVERNANCE AND ETHICS
Corporate governance and ethics
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CORPORATE GOVERNANCE AND ETHICS
Table of Contents
Introduction:....................................................................................................................................1
Discussion:.......................................................................................................................................2
A: Economic sustainability..............................................................................................................2
B: Environmental sustainability......................................................................................................3
C: Social sustainability:...................................................................................................................3
Conclusion:......................................................................................................................................3
References list:.................................................................................................................................3

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CORPORATE GOVERNANCE AND ETHICS
Introduction:
The report is prepared for assessing the sustainability of Timberwell Construction by
referring to consolidated sets of sustainability reporting standards of GRI (Global Reporting
Initiative), 2016. Such assessment assists companies in evaluating the affect of operations of
society, environment and economy. In this particular assignment, sustainability report of a
residential development company is prepared by referring to specific disclosures concerning
environmental, social and economic standards. Economic sustainability of organization has been
explained in relation to various disclosures relating to corruptions, legal actions for anti
competitive behavior and financial implications relating to climate change (Doh et al. 2016).
Impact of operations of Timberwell is assessed in reference to disclosures of non-compliance
with environmental regulations, consumption of energy and considerable impact of their
activities on bio diversity. Later part of report depicts assessment of social sustainability in
relation to attrition, operations and discrimination incidents.
Discussion:
A: Economic sustainability
Assessment of economic sustainability is done in reference to several disclosures.
Disclosure 201-2 is about the opportunities, risks and financial implications on organization due
to climatic conditions resulting from operations. Organization complying with this disclosure
would be required to report the information of any substantial change in revenue, operations and
expenditure due to climatic change. For compiling the information, some additional
characteristics relating to magnitude of impact, direct and indirect impact should be reported

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CORPORATE GOVERNANCE AND ETHICS
(Barkemeye et al. 2014). The timeline and plan should be reported by organization if there is no
system for the computation of revenue projections or financial implications.
Analysis of case study depicts that Timberwell was fined as their operations led to
critically endangering coastal grassland of ecological community. Area that was cleared by
company for the construction destroyed the attributes of flora and fauna. In light of this,
disclosure should be made about methods that would be used for managing the opportunities and
risks such as improving energy efficiency, use of carbon offsets, lower carbon footprint energy
and fuel switching (Doh et al. 2016).
Disclosure 205-3 is about confirming corruptions incidents and taking actions
accordingly. As per this disclosure requirement, reporting organization is needs to disclose total
number of corruption incidents. There should also be disclosure about any legal case file against
the company and employees dismissal (Wang et al. 2015). It is required by stakeholder of
company to have an interest in response of organization towards incidents and occurrence of
incidents.
Timberwell construction was involved in bribing the official of council projects for
development of application of company through the approval process. Outcome of prosecution is
pending and this should be reported in the sustainability report. Termination of partnership
contracts with two external consultants should be disclosed (Vigneau et al. 2015).
Disclosure 206-1 illustrates the reporting of legal actions for anti competitive behavior,
monopoly practices and antitrust. It is about disclosing legal actions against company for
antitrust and anti competitive behavior. Total number and outcomes of legal actions including
judgment and decisions should be disclosed by organization (Fernandez et al. 2014).