Corporate Sustainability Reporting and CSR in Mining Industry

CORPORATE ACCOUNTING

Contents
ABSTRACT...............................................................................................................................2
INTRODUCTION......................................................................................................................3
COMPARATIVE ANALYSIS..................................................................................................5
OVERVIEW OF THE COMPANIES.......................................................................................5
PRESSURE OF CSR REPORTING ON MINING INDUSTRY..............................................6
COMPARISON..........................................................................................................................7
CONCLUSION..........................................................................................................................9
Bibliography.............................................................................................................................10

ABSTRACT
CSR, now-a-days, have became one of the most significant issues in organizations. Different
entities have different CSR policies which give a clear picture of their operations that are
considered to involve their social responsibility. It is important for businesses to understand
the importance of their decisions that equally have an impact on their stakeholders who has
invested their trust in such businesses. Therefore, such information cannot be derived solely
from financial information. It needs a clear assessment of all the related risks and
opportunities, that is, non-financial information. CSR reports are aimed at providing
maximum transparency as that leads to better decisions which helps in developing trust
between businesses and its stakeholders.

INTRODUCTION
Corporate Sustainability Reporting is the reporting on a company’s social, environmental and
operational activities that involve both quantitative and non-quantitative information that are
important to be disclosed to the key stakeholders whether external or internal and its ability to
deal with the risks arising. The principles followed while reporting for corporate
sustainability is those of Global Reporting Initiatives (GRI). Organizations are required to
measure their environmental and social performance and account for it accurately. (Atkinson,
2012)
Non-financial information may be presented in different formats whether in sustainability
reports or annual reports. The GRI principles helps the businesses and governments to
account for their activities that has an effect on the environmental, social and sustainability
issues effectively and disclose to the public. The GRI standards is heading towards
management of sustainability and disclosing of general information. For the purpose of
providing highly qualitative and quantitative information which are important to be disclosed
for a reporting entity, reports are to be prepared there are three Universal Standards:
 GRI 101 : This forms the ‘foundation’ of the report that indicates using of GRI
standards.
 GRI 102 : This involves the presentation of ‘general disclosures’ that is used to
account for contextual information about an entity.
 GRI 103 : This is the ‘Management Approach’ that is how the disclosures are to be
made regarding the impact on the environmental and social issues.
Similarly, Corporate Governance refers to a set of guidelines and practices and processes
by which an entity is being guided and controlled. It concentrates on fulfilling the needs
of different external and internal stakeholders. Corporate governance revolves from an
entity’s objectives to its action plans and controls that are taken into consideration for
measuring performance and for making corporate disclosures.