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Corporate Social Responsibility and Sustainability

   

Added on  2020-03-28

8 Pages2142 Words206 Views
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RUNNING HEAD: AccountingAccountingCan accountants save the planet?
Corporate Social Responsibility and Sustainability_1

Can accountants save the planet?1ContentsAnswer to Questions..............................................................................................................................2Q. 1....................................................................................................................................................2Q. 2....................................................................................................................................................2Q. 3....................................................................................................................................................3Q. 4....................................................................................................................................................3Q. 5....................................................................................................................................................4Q. 6....................................................................................................................................................4Q. 7....................................................................................................................................................5Q. 8....................................................................................................................................................5Q. 9....................................................................................................................................................6Q. 10..................................................................................................................................................6References.............................................................................................................................................7
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Can accountants save the planet?2Answer to QuestionsQ. 1Companies are now more focused on corporate governance and sustainability. The pastexperience of Nike and other companies as mentioned in the case study shows that companieswhich are not considering the sustainability aspect, failed drastically in financial terms. Nowinvestors also understood that there is a strong relationship between financial performanceand sustainability performance. Data about sustainability performance are now importantdecision criteria of investment decision by investors as these data can speak about futurerisks. Investors are making investment decision depending on economic, social andgovernance performance of a company. It gives the overall performance of a company. Newgeneration customers and society is now more concerned about the seriousness aboutsustainability aspect of a business; in this way it is very logical that stakeholders are makinggood investment decisions while considering sustainability aspect. Consideration ofSustainability is must for growth and survival of a company (Hafenstein & Bassen, 2016).Q. 2In my opinion, we owe moral duty to our future generations to come. With the advent ofsustainability concept, now we are ethically concerned about our responsibilities towards ourfuture generation. We should use our resources in such a manner that we should develop andpreserve those resources for our future generations. As an individual or as a businessorganisation, collectively we should work for sustainable development of resources. We mustfocus on optimum use of resources. Business organisation should allow their employees tovoluntary contribute towards society. Also business organisations should contribute towardsthe society in which it operates. Business organisations must follow good corporategovernance practices, ethical standards and maintain people account and planet account.Proper reporting of sustainability regarding business organisation must enabled. It will give aframework to sustainability measurement for corporates. Survival of an organisation dependson customer base of that organisation (Ha-Brookshire, 2015). In this manner, it very
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