Accounting and Reporting for Sustainability: University Report

This report analyzes the accounting and reporting practices related to sustainability, focusing on the ANZ Bank's approach. It examines the bank's key indicators, such as fairness, corporate governance, responsible lending, and environmental footprint. The report highlights the bank's commitment to the United Nations' Sustainable Development Goals and its efforts to maintain high standards of conduct. Additionally, the report discusses the importance of including environmental costs in product pricing, as demonstrated by Puma's practices. The analysis emphasizes the benefits of detailed environmental impact assessments for business decision-making and the preservation of natural resources. The report references several academic sources to support its findings.

Running head: ACCOUNTING AND REPORTING FOR SUSTAINABILITY
ACCOUNTING AND REPORTING FOR SUSTAINABILITY
Name of the student
Name of the University
Author Note

1ACCOUNTING AND REPORTING FOR SUSTAINABILITY
Week 6 Journal
The major categories of indicators that ANZ reports against are as follows:-
 Fairness and ethical conduct is considered as an important issue regarding both the
internal and external stakeholders (Ioannou & Serafeim, 2017),
 The high rating of Corporate Governance, which portrays greater transparency in
communication (Gurarda, 2015),
 Responsible lending to business, which involves the skilled management of the social
and environmental impacts relating to the lending decisions, and they are treated as
the core to the risk management of the organization,
 Emphasis on anti-corruption practices like anti-money laundering and terrorism
financing,
 Financial system stability and regulation,
 Emphasis on consumer privacy by looking after data security and preventing
fraudulent activities,
 Investing in the local communities,
 Environmental footprint,
 Maintaining a sustainable supply chain.
The ANZ bank determines these indicators by bringing about necessary changes to its
‘Sustainability Framework’ (Hahn & Kühnen, 2013). The framework focuses on the
sustainable growth of business and individuals, ensuring social and economic participation at
all levels of the society and conducting a fair and responsible banking process. This allows
the bank to ensure that proper focus is given to its business strategy as well as its purpose,
which is to promote the development of communities and individuals. The bank is also
committed to the United Nation’s Sustainable Development Goals and conducts its
operations in accordance to them.

2ACCOUNTING AND REPORTING FOR SUSTAINABILITY
The term ‘responsible banking’ in relation to ANZ means to keep up with the
changing expectations of its stakeholders and maintaining their trust, ensuring the
maintenance of high standards of conduct and being aware of the social and environmental
impacts of its various business decisions.
Discussion Forum
According to the given case study, Alan Mcgill’s statement saying that the
environmental costs are not fully included in the price of products means that Puma’s costs
regarding the usage of natural resources and the costs that are associated with the impacts on
the environment, are not included in the price which is paid for the products.
Puma as well as its parent company PPR home, went to such lengths as to go beyond
regulatory requirements with the disclosure of their E P&L account because, it would provide
Puma a detailed understanding of the impacts on the environment caused by its business
decisions. It would allow the company to adopt various actions that would have a positive
impact on its sales and would also help the company in protecting and preserving the natural
resources its business relies on (Schaltegger & Burritt, 2017).

3ACCOUNTING AND REPORTING FOR SUSTAINABILITY
References
Gurarda, S. (2015). Environmental management accounting. Handbook of research on
developing sustainable value in economics, finance, and marketing, 278-296.
Hahn, R., & Kühnen, M. (2013). Determinants of sustainability reporting: a review of results,
trends, theory, and opportunities in an expanding field of research. Journal of cleaner
production, 59, 5-21.
Ioannou, I., & Serafeim, G. (2017). The consequences of mandatory corporate sustainability
reporting.
Schaltegger, S., & Burritt, R. (2017). Contemporary environmental accounting: issues,
concepts and practice. Routledge.