Comparing and Contrasting Sustainability Reporting of Barclays and AstraZeneca

Running head: FINANCIAL SUSTAINABILITY
Financial Sustainability
Name of the Student
Name of the University
Author’s Note

FINANCIAL SUSTAINABILITY1
Table of Contents
Introduction................................................................................................................................2
1. Comparing and Contrasting the Engagement Techniques and Strategies.............................2
2. Verifiability of Sustainability Reports and Assurance...........................................................4
3. Comparing and Contrasting the Measurement of Social/Environmental Performance.........5
4. Best Practice in Social/Sustainability Reporting....................................................................7
Conclusion..................................................................................................................................8
References..................................................................................................................................9

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Introduction
Sustainability or Social Reporting has become an essential factor for the success of
the companies due to the increased concern of the key stakeholders related to the social and
environmental issues (Ioannou and Serafeim 2017). Business organizations undertake the
publication of sustainability reports about the economic, environmental and social impacts
caused by their day-to-day business activities. This report also helps in presenting the
company’s value and governance model with the aim to demonstrate the link between
strategies and commitments (Junior, Best and Cotter 2014). Majority portion of the
companies all over the world have already adopted the strategy of sustainability reporting for
showing the impact on their business activities and the steps they have taken for reducing
these impacts. The main aim of this report is the analysis and evaluation of the sustainability
reporting of two companies listed in London Stock Exchange; they are Barclays PLC
(Barclays) and AstraZeneca PLC (AstraZeneca). Aspects that this report covers are
sustainability engagement techniques, verifiability as well as assurance of sustainability
reports, non-financial performance measurement and sustainability reporting best practices.
1. Comparing and Contrasting the Engagement Techniques and Strategies
It needs to be mentioned that there are certain differences between these two
companies regarding sustainability engagement techniques and strategies and these are
discussed below.
Barclays – For the purpose to engage with the social and environmental accountability,
Barclays has selected four specific themes; they are Company, Customer and Client,
Colleague and Society (home.barclays 2019). The bank has covered vast areas of
sustainability in these four themes. The approach of Barclays has considered the ECG related
risks while considering the risks in the areas of cultural and conduct, digital resilience and

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data privacy, environmental and social risk management and human rights and modern
slavery. The engagement techniques of Barclays with the customer and client are the delivery
of responsible products for improvising customer experience, increase in accessibility of
products and services, customer support and empowerment and others (home.barclays 2019).
Barclays has also adopted certain techniques for the development of an engaged and inclusive
workforce such as improvement in employee engagement, ensuring the presence of diversity
and inclusion, development of human capital and ensuring the well-being of employees. The
adopted techniques with the issues related to societies are ensuring responsible taxation,
effective engagement with the stakeholders and public policy, supporting sustainable
innovation and organizing different global employability and skills programs (Fonseca,
McAllister and Fitzpatrick 2014).
AstraZeneca – It can be seen from 2018 Sustainability Report of AstraZeneca that the
company has considered three major themes for converting the major areas of sustainability
issues; they are Access to Healthcare, Environmental Protection and Ethics and Transparency
(astrazeneca.com 2019). The aim of AstraZeneca is to effectively manage the value chain in
their business in the presence of the intention of human health as well as wellbeing,
encouraging inclusive environment at the workplace, providing the opportunities for growth
and development, effectively managing the environmental impacts and developing certain
wide range of programs for the relevant parties and communities (astrazeneca.com 2019).
AstraZeneca has been able in integrating their sustainability reporting with the help of certain
specific aspects such as operational model, employee training, financial reporting, risk
management and code of ethics. In addition, the company has taken certain specific
sustainability approaches under their main three themes; some of these approaches are
responsible research and development, assessment of environmental impacts on health,
product environmental stewardship, reduction in greenhouse gas, water stewardship, waste