Evaluating the Role of Sustainability Reporting in Global Economy

In 2016, climate-related issues were a major concern globally. The United Nations Sustainable Development Goals (SDGs) replaced the Millennium Development Goals in 2015. The Global Reporting Initiative (GRI) and the Task Force on Climate-Related Financial Disclosures (TCFD) are working together to improve corporate reporting on sustainability and climate change. In Europe, the European Commission is promoting transparency by encouraging major companies to disclose their sustainability performance. Similarly, the Australian Securities and Investments Commission (ASIC) updated its Regulatory Guide 247 to emphasize the importance of disclosing environmental and social hazards.

Running head: Sustainable Reporting
Sustainable Reporting
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Table of Contents
Introduction:...............................................................................................................................2
Reasons of company report:.......................................................................................................2
Corporate Sustainability in Australia:........................................................................................3
International Development:........................................................................................................4
Conclusion:................................................................................................................................6
Reference....................................................................................................................................7

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Introduction:
In this report, the importance of sustainability reporting is discussed and it is compared with
the suitable reporting framework. Sustainability Report comprises of the studies that relates
to the corporate accountability of the organisations along with the companies by measuring
and widely spreading the social, environmental and economic influences. This report is
comprised of the presentations of the company. This is also regarded as the impartial
statement of the sustainability as well as the statement of the environmental and the social
that is the three-layered bottom line statement (Grayson & Hodges, 2017). Moreover, this
report considers the existence of an important gap which is exposes the relation with climate.
The sustainability report in Australia is projected whose major expansion is comprised of the
Asia Pacific region.
Reasons of company report:
The organisations choice reporting of numerous motives which considers the stakeholders as
well as the non-stake holders for the company’s performance and some rules in respect to
some progress. The reporting is also done to make the market updated and the stakeholders as
well as the progressiveness of the company market in commerce with the hazards related to
the financial as well as the non-financial ranges (Saeidi et al., 2015). It also gives permission
to the company to identify the main hazards, and the assessment of the presentation is
performed. Consulting about the CAER in Australia which denotes the Centre for Australian
Ethical Research report innovated in 2005. The main smear audiences for the sustainability
reports of the State of Sustainability Reporting, are containing of about 79% of customers,
74% of shareholders, 87% of employees, 67% of local community, 54% of institutional
investors, 59% of suppliers, 51% of analysts and29% of NGOs as well as the governments. In
Australia the CPA which denotes the Certified Practising accountants identifies the
potentials, performances as well as the practises of the Sustainability Reporting in its account

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(Belal, 2016). There is a strong link established between the sustainability reporting and the
squat outlook of the corporate griefs. Thus, to accept the sustainability reporting the company
interests is often observed.
Corporate Sustainability in Australia:
The Australian Council of Superannuation Investors that is the ASCI with the assistance of
the ASX brings the yearly study of sustainability reporting drives. The year 2016 revealed the
report that maximum ASX200 organisations distinguish the value in sustainability disclosure
with 92% accountability. This study also disclosed about the average progressiveness of the
maximum level of sustainability disclosure (Rao & Tilt, 2016). In differentiating with the
year 2008 where the ASX200 was 19.5% the level of the reporting became a Detailed or
Leading level which was maximum for the year which was about 50%. However, in ASX200
streams every dollar is capitalized in 85 cents of the companies which is comprised of the
maximum level reporting. In this reporting program, the companies which are registered by
the ASX200 are now listed with the GRI standards. Consisting of these growing structures
there are about 19 companies under ASX200 acted as the framework of the Sustainable
Development Goals. There is also a continuation of this improvement though 42% of the
ASX200 approved a Basic or Moderate grade and among this 8% have not yet started any
revelations about the sustainability (Richards et al., 2015). The Chief Executive of ACSI
states that the regular challenges for the ASCI is to transplant superior meaning into
sustainability disclosure of the organisations. There are some measure taken to preserve the
companies from the sustainability risks that are experienced by the organisations. In this
current year the ACSI report surely viewed the climate related revelations, detecting four
chief progress which have expanded the difference of the climate hazards and revelations of
the Financial Stability Board in the Australian investment community that is the TCFD which
denotes Taskforce on Climate-Related Financial Disclosures. The Paris agreement which

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holds a legal virtue about the climate risk got approved in Australia. Over 58% of the
ASX200 reported about the greenhouse gas emissions incident. A strategy statement of 44%
admits the issues of the climate changes. Yet only 24% discloses about the energy efficiency
purpose, but 35% of the GHG emissions were not restrained thus declared a report on the
issues related to climate in the year 2016. The ACSI is motivating the companies to device
the best training plan of the Financial Stability Board that is recognized by the Task Force on
Climate-related Financial Disclosures (Dhaliwal et al., 2014).
International Development:
The Global Reporting initiative that is the GRI assists to structure public debates for the
modification of the policy creators who are either the national, regional, governmental,
international or nongovernmental. They also have businesses with the UN global impact,
ISO, OECD, UN environment program. In a broader concept the sustainability report acts
substantial for the change in the global economy. In the year 2015 the UN’s Millennium
Development Goals is substituted by the United Nations Sustainable Development Goals.
Later in the year 2015 as per GRI a business was established among the World Business
Council for Sustainable Development as well as the United Nations Global Compact for the
advancement of the business goals that are incomplete. In the construction the GRI launches
a reporting method which assists to achieve the goals for the companies in the business
sustenance, accomplishing change, rations presentations as well as to support a change in the
sustainable economy (Campopiano & De Massis, 2015). This acts as a sustainable progress
of the operative development, therefore, creates a measure for the society as well as the
business. In a current report of the GRI it is visualised that over the world about 45 countries
consisting of more than 180 strategies.
Currently the European Commission based on the knowledge gives a suggestion of the
authorization of many major companies grounded on the social as well as the environmental

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matters. If the suggestion is permitted, then about 6000 companies transversely EU is
encouraged to disclose on their sustainability performance. The key aim was to expand the
performance and the clarity on the social as well as the environmental substances of the
organisations of EU. Thus, it is successfully subsidized for a long run progress in economy as
well as expansion (Hąbek & Wolniak, 2016).
In Australia also, the strategies are changing. The Australian Security and Investment
Commission that shortly known as the ASIC, in the previous year updated its administration
article that is the Regulatory Guide 247 Effective Disclosure. The updating is performed on
the operative and economic evaluation and publicized a reason of sustainability considering
the hazards. Considering the environmental issues and the sustainability hazards a
conversation is comprised in the OFR. The attainments of the financial performance of the
entity is thus affected by the hazards considering the results and the business regulations
(Hąbek & Wolniak, 2016).
In the disclosure of the sustainability cumulative significance are inserted by the stock
exchanges. In March 2014, the recommendation reviews are released along with the
moralities of the Corporate Governance by the ASX Corporate Governance Council. In this
suggestion as per Principle 7 the Council has presented a brand-new endorsement that is
Recognise along with Manage Risk. The 7.4 Recommendation describes about the registered
article which should disclose the bearings of little substantial associate the sustainability
hazards linked with the social, economic and environmental issues as well as the procedure of
handling the hazards. The ASX by explaining this regulation connects with the Bovespa
Brazil, Johannesburg Stock Exchange, the Shen-Zeng Stock Exchange and the Shanghai
Stock Exchange. The ASX demanded to release their sustainability performance globally of
the companies. GRI rations the recommendations outline to authorize the foremost
organisational liability and clarity on the non-financial revelations. The UNEP broadly as the

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United Nations Environment Programme as well as the GRI broadly as the Global Reporting
Initiative joint coordination makes a complete report on the sustainability which is globally
used, to meet the requirements of the bigger organisational transparency. This covers the
Reporting Guidelines groups and the Principles organisations which statement is used in the
social, ecological and the economic performance (Dhaliwal et al., 2014).
Conclusion:
Human life is possible for the natural environment and the to define its presence the existence
of the social environment is necessary. Thus, economy expansion is vital and
environmentally the population is sustainable. The major view point is the zone where the
accurate balance along with the contrivance operative strategies, capitals and agendas such as
community engagement and volunteering programs, IMOS, the Great Barrier Reef Science
Strategy, the Reef 2050 Sustainability Plan, NESP, Biodiversity Conservation Strategy 2010–
2030 of Australia, the Terrestrial Ecosystem Research Network, Indigenous Protected Area
programs, the Australian Heritage Strategy, the National Reserve System, the National
Representative System of Marine Protected Areas is gained. Supplementary developing,
stimulating and, as appropriate, smearing pioneering devices and imaginations that are now
advanced such as, management, technologies, and guidelines that are separating the economic
from environmental dangers, environmental financial accounting and assessment,
imaginations for the reduction of plastic contamination in aquatic and coastal surroundings,
creativities for the reduction of air contaminants in rural areas developing and spread on new
strategies, programs, procedures, and tools in the lengthier term, including the added
grouping of management systems and strategies across establishments for example, growth of
a cultured effect investment market, blue or green economy systems, governing
reorganization to carry new invasions of likely harmful destructive session and disease.

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Reference
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case of Bangladesh. Routledge.
Campopiano, G., & De Massis, A. (2015). Corporate social responsibility reporting: A
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511-534.
Dhaliwal, D., Li, O. Z., Tsang, A., & Yang, Y. G. (2014). Corporate social responsibility
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financial transparency. Journal of Accounting and Public Policy, 33(4), 328-355.
Grayson, D., & Hodges, A. (2017). Corporate social opportunity!: Seven steps to make
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Hąbek, P., & Wolniak, R. (2016). Assessing the quality of corporate social responsibility
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social responsibility contribute to firm financial performance? The mediating role of

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