Sustainability Reporting of Woolworths and Westfield

Running head: SUSTAINABILITY REPORTING OF WOOLWORTHS AND WESFIELD
Sustainbility Reporting of Westfield and Woolworths
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1SUSTAINABILITY REPORTING OF WOOLWORTHS AND WESFIELD
Table of Contents
Introduction..........................................................................................................................2
Company Purpose for Offering GRI or IR..........................................................................2
Major Stakeholders Having Interest in Report....................................................................3
Differences and Similarities in Company Reports..............................................................4
Critical Analysis of Sustainability Reports..........................................................................5
Information Quality.........................................................................................................5
Relevant Standards and Framework Consistency............................................................6
Information Addressing Stakeholder Needs....................................................................6
Conclusion...........................................................................................................................7
References............................................................................................................................8

2SUSTAINABILITY REPORTING OF WOOLWORTHS AND WESFIELD
Introduction
In a highly competitive environment, the objective of business sustainability along with
integrated reporting is high in all the business sectors (De Villiers, Rinaldi and Unerman 2014).
In compliance with the sustainability reporting, important information can be collected regarding
economic, social, environmental along with governance performance of selected companies. The
current paper will focus on explaining the sustainability reports of two major organizations such
as Westfield and Woolworths those are renowned retail organizations of Australia. It is also
gathered that these two companies are developed their sustainability reports through abiding by
the guidelines explained within the Global Reporting Initiative (GRI) standards (Flower 2015).
Company Purpose for Offering GRI or IR
Woolworths and Westfield companies are observed to publish the sustainability reports
for some objectives that are explained below:
 Woolworths Company offers important information to all its external as well as internal
stakeholders concerning several sustainability actions through abiding by the GRI
standards (Jain and Winner 2016). Additionally, the company also makes sure that the
success of its consumers on an international level. Through implementing GRI
sustainability standards, the company has the opportunity or carrying out sustainable
operation in a responsible and safe manner. Woolworths Company’s management
considers sustainable reporting as an important and influential aspect that supports in
development of extended term values for the internal and external stakeholders. Lastly,

3SUSTAINABILITY REPORTING OF WOOLWORTHS AND WESFIELD
the company also abides by GRI reporting because of the reason that it needs to develop
values associated with safety, trust, respect, excellence and reliability (James 2015).
 Westfield Company is associated with offering GRI reports with an intention of attaining
exceptional standards in the areas of safety, environment management, rigidness,
effectiveness, governance and safety. In addition, the company offers GRI reporting to
offer affirmative community and environmental results (Kaspereit and Lopatta 2016). For
this reason, it intends to consider numerous sustainability concerns of business in
accordance with four important segments. This encompass responsible business conducts,
economic development along with safety maintenance in the organization.
Major Stakeholders Having Interest in Report
Woolworths is observed to have an important stakeholder group that are explained within
the sustainability report of the company in the year 2017. The major stakeholder group includes
the contractors and the staff and they require following sustainability report in attaining a
viewpoint of leadership framework and its management performance as well as the overall
growth opportunities (Kräusche and Pilz 2018). Another stakeholder group of Woolworths
includes its consumers as well as clients. For this stakeholder group sustainability report is vital
as they focus on attaining necessary data regarding costs, performance as well as sustainability of
organizational products. Shareholders and the investment communities are another important
stakeholder group of Woolworths as they focus on attaining information concerning business
performance, strategy implementation and company governance. The local residents and the
society are otherf stakeholders those desire to attain relevant information on employment
opportunity, business operation effects along with economic and social along with economic
contributions (Manetti and Bellucci 2016). Lastly, government is another vital stakeholder for