Corporate Reporting

This document discusses the key initiatives of corporate social responsibility taken by AGL Energy Limited, the implemented initiatives of the company, and the importance and benefits of CSR in a business. It also highlights the role of CSR in improving brand image, attracting new customers and shareholders, and empowering employees. The document provides references for further reading on the topic.

Running head: CORPORATE REPORTING
Corporate Reporting
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CORPORATE REPORTING
Table of Contents
Key Initiatives of Corporate Social Responsibility.........................................................................2
Implemented Initiatives of the Company........................................................................................3
Importance and Benefits of CSR in a Business...............................................................................3
References:......................................................................................................................................6

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Key Initiatives of Corporate Social Responsibility
AGL Energy Limited is the Australian listed company which deals with the generation
and retailing of electricity and gas which is used for both residential and also for commercial use.
The company involves in the development of the power stations which uses thermal power,
natural gas, wind power, hydroelectricity, solar energy, and gas storage and coal steam gas. It
holds more than a 3 million customers around Australia. The company involved in the
sustainability for a long term which including the valuing of the stakeholders, employees,
customers, valuing the investors of the company and also the working environment in the
company1. The company in this year has gone for a plan to free the environment of the country
by removing the carbon from the world. The company has dreamt of carbon constrained world.
The company has taken some considerable steps for the succession of this plan2. The company
has implemented new principles for the development of the sustainability. The principles involve
application of AA1000, which looks after the management of the sustainability and also
reporting about the sustainability performance of the company3. The company has also take
considerable number of steps regarding the reduction of the greenhouse gas.
Implemented Initiatives of the Company
Social responsibility is to be recognized as the part of the company’s business model
which will attract the good publicity of the company, help to attract and also retain the new
talents from the market. It also helps the company’s relationship with the customers and their
1 Illia, Laura, et al. "Exploring corporations’ dialogue about CSR in the digital era." Journal of Business Ethics 146.1
(2017): 39-58.
2 Chang, Dong-Shang, et al. "Identifying strategic factors of the implantation CSR in the airline industry: The case
of Asia-Pacific airlines." Sustainability 7.6 (2015): 7762-7783.
3 Tang-Lee, Diane. "Corporate social responsibility (CSR) and public engagement for a Chinese state-backed mining
project in Myanmar–Challenges and prospects." Resources Policy 47 (2016): 28-37.

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communities4. The benefits are too great as it also to retain clients, improved sales of the
company and also help the company to reach the financial success. The management of AGL ltd
is also dedicated towards meeting the social responsibility of the business and contribute to the
needs of the society.
In the sustainability report of FY2018 of the company the company pledged that they
were able to achieve the set target which was set in the previous financial year. The report of
2018 also states about the customer advocacy. It can be seen that the company has successfully
able to meet the reducing the gas emission target by considerable amount and company and also
look after the customer and stakeholders of the company5. Regular interaction with the
stakeholders with the formal or informal channels ensures relevancy in the business strategy and
also needs of the stakeholders. The company also tried to improve the workplace culture and
talent, business investment, customer-led approach and many more are included in the
sustainability of the report.
Importance and Benefits of CSR in a Business
From the last decade of two corporate social responsibilities has become incredibly
important for the companies. It is done either by helping the environment, empowering the
women, trying to reduce or eradicate the poverty and many other social issues. The companies
around the world are putting the corporate social responsibility in the business strategy6. The
issue which the company involved can be local, national, or international. The very reason the
4 Hopkins, Michael. "CSR and international development." CSR and Sustainability. Routledge, 2017. 88-108.
5 Sustainabilityreport.agl.com.au. (2019). 2018 Sustainability Report. [online] Available at:
https://www.2018sustainabilityreport.agl.com.au/ [Accessed 28 May 2019].
6 Lueg, Klarissa, et al. "Integrated reporting with CSR practices: a pragmatic constructivist case study in a Danish
cultural setting." Corporate Communications: An International Journal21.1 (2016): 20-35.

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companies around the world are so involved with the corporate social responsibility are
improving the brand name of the company. Being a socially responsible company will provide a
good image in the market and hence the company may fetch new customers as well as can fetch
new shareholders in the market. The good name also helps the company’s share price to be on a
upper slope as the demand for the share of that company may increase. While working on the
corporate social responsibility the company does their marketing indirectly. The company can
not only fetch new customers from the market but it also makes the company to build a good
relationship with the customer7. This helps the company to increase the market growth and also
helps to understand the actual needs of the customer. Sometimes it is seen that the company is
willing to pay more as they know they are providing this money for the worthy cause. It also
produces a good image in the eyes of the employees. As it will provide the confidence in the
employees because they will think that they are working in a bigger organization.
Social responsibility empowers employees to leverage the corporate resources at their
disposal to do well. The big companies have employee strength shoots up to more than ten
thousand. When these companies involve in corporate social responsibility then the result will be
amazing. It also helps the company to stand out among the competitors. This will not only help
the company to dominant the market but it will also help the company to attract more customers.
The corporate social responsibility helps the company to attract new talents from the market
which will help the company to grow and fetch huge amount of profit.
7 Supanti, Daraneekorn, Ken Butcher, and Liz Fredline. "Enhancing the employer-employee relationship through
corporate social responsibility (CSR) engagement." International Journal of Contemporary Hospitality
Management 27.7 (2015): 1479-1498.

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Corporate social responsibility will also help the company to retain old employees as it
provides dignity to the employees for involving in the company’s reputation8. While working in
the corporate social responsibility project the companies tends to increase the relationship
between the company and the local governing authority. This relation helps the company in
different aspects9. The best example for reducing the gap between the company and the customer
using corporate social responsibility is Tesla. The company was able to reduce the gap between
the corporate world and the social responsible vision by offering electric powered car to the
customers. As stated by the company this car will not only help the environment by not
producing harmful gas and also it will the mass to travel from one place to another with ease.
Another example for the corporate social responsibility is about Coca Cola Company who helps
to empower the women by providing 5 million jobs. The company take initiative of reaching the
number by 2020
References:
Chang, Dong-Shang, et al. "Identifying strategic factors of the implantation CSR in the airline
industry: The case of Asia-Pacific airlines." Sustainability 7.6 (2015): 7762-7783.
8 Montecchia, Alessia, Filippo Giordano, and Cecilia Grieco. "Communicating CSR: integrated approach or selfie?
Evidence from the Milan stock exchange." Journal of cleaner production 136 (2016): 42-52.
9 Marcelino-Sádaba, Sara, Luis Felipe González-Jaen, and Amaya Pérez-Ezcurdia. "Using project management as a
way to sustainability. From a comprehensive review to a framework definition." Journal of cleaner production 99
(2015): 1-16.

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Hopkins, Michael. "CSR and international development." CSR and Sustainability. Routledge,
2017. 88-108.
Illia, Laura, et al. "Exploring corporations’ dialogue about CSR in the digital era." Journal of
Business Ethics 146.1 (2017): 39-58.
Lueg, Klarissa, et al. "Integrated reporting with CSR practices: a pragmatic constructivist case
study in a Danish cultural setting." Corporate Communications: An International Journal21.1
(2016): 20-35.
Marcelino-Sádaba, Sara, Luis Felipe González-Jaen, and Amaya Pérez-Ezcurdia. "Using project
management as a way to sustainability. From a comprehensive review to a framework
definition." Journal of cleaner production 99 (2015): 1-16.
Montecchia, Alessia, Filippo Giordano, and Cecilia Grieco. "Communicating CSR: integrated
approach or selfie? Evidence from the Milan stock exchange." Journal of cleaner production 136
(2016): 42-52.
Supanti, Daraneekorn, Ken Butcher, and Liz Fredline. "Enhancing the employer-employee
relationship through corporate social responsibility (CSR) engagement." International Journal of
Contemporary Hospitality Management 27.7 (2015): 1479-1498.
Sustainabilityreport.agl.com.au. (2019). 2018 Sustainability Report. [online] Available at:
https://www.2018sustainabilityreport.agl.com.au/ [Accessed 28 May 2019].
Tang-Lee, Diane. "Corporate social responsibility (CSR) and public engagement for a Chinese
state-backed mining project in Myanmar–Challenges and prospects." Resources Policy 47
(2016): 28-37.

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CORPORATE REPORTING