Sustainability Reporting in Accounting by AMP

Added on - 31 May 2021

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Sustainability Reporting in Accounting by AMP1SUSTAINABILITY REPORTING IN ACCOUNTING BY AMPby (Your Name)Contemporary Issues in AccountingProfessor’s NameName of Your InstitutionLocation of the InstitutionDate
Sustainability Reporting in Accounting by AMP2Sustainability Reporting in Accounting by AMPFuture Plans for Sustainability Reporting by AMPDue to the increasing pressure from a number of parties including the government, theinvestors and the Australian Securities Exchange (ASX) for companies to report their social andenvironmental accounting, AMP aims at undertaking sustainability as one of the pillars to itsCorporate Responsibility (CSR) practices (Schaltegger, Etxeberria and Ortas, 2017, pp 113). Thecompany has also resolved through its annual general meetings to foster voluntary transparencyto all the stakeholders as a way of showing a good financial reporting culture and an ethicalbehaviour. To realize this, AMP has shown a commitment to reducing the environmental impactthat the company creates from its operations. For instance, the issue of carbon emission is beingworked on to ensure that all the operations of the company are carbon neutral (Earth Hour sparksnew sustainability and environment mindset - AMP, 2018, np.). The amount of carbon emissionper year is intended to be at a minimum by 2021.Ways in Which AMP Plans to Tackle Sustainability Issues it has been FacingBecause of the many issues that AMP has been facing since 2015, the company hasimplemented a number of measures to ensure sustainability reporting.The company has promised its customers, partners and other stakeholders that they aregoing to produce regular sustainability reports that give transparent financial as well associal, governance and environmental performance of the company in compliance withall international and local standards such as the Global Reporting Initiative (GRI)Standards and the Australian Accounting Standards Board (AASB).
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