ACCG 950: GRI Reporting Analysis of Oz Minerals and Sandfire

This report provides a detailed analysis of the sustainability practices of Oz Minerals Ltd and Sandfire Resources Ltd, two companies in the mining industry, based on their annual reports and adherence to the Global Reporting Initiative (GRI) standards. It identifies the purpose of GRI reporting for each company, focusing on environmental, economic, and social impacts, and highlights their commitment to employee safety, waste management, and stakeholder engagement. The report identifies key stakeholders such as investors, creditors, employees, and governmental agencies, and assesses how well each company's report meets their needs. Similarities between the companies include a focus on employee safety and waste reduction, while differences exist in the emphasis on restoration projects and specific operational responsibilities. The analysis evaluates the quality of information, consistency with GRI standards, and the extent to which stakeholder needs are met, concluding that both companies generally comply with GRI requirements and strive for sustainable practices. Desklib is the perfect platform to find similar reports.

Running head: CONTEMPORARY ISSUES IN ACCOUNTING
Contemporary Issues in Accounting
Name of the Student:
Name of the University:
Author’s Note:

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Executive Summary
The main purpose of this assignment is to analyze the annual reports of two company’s in order
to understand the policies which are related to sustainability in a business. The report will also be
identifying the key shareholders of the business for both the companies. The companies which
are selected for the purpose of this assignment are Oz Minerals Ltd and Sandfires Resources ltd.
The business will be comparing the sustainability practices of both the companies. The report
will be considering Global Reporting Initiative (GRI).

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Table of Contents
Introduction......................................................................................................................................3
Purpose for Providing GRI in Business...........................................................................................3
Key Stakeholders of the Business....................................................................................................5
Similarities and Dissimilarities between the Sustainability reports................................................6
Analysis of Sustainability Practices.................................................................................................7
Quality of Information.................................................................................................................7
Consistency with Relevant Standards of GRI.............................................................................8
Meeting the needs of the Stakeholders........................................................................................8
Reference.......................................................................................................................................10

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Introduction
The main purpose of this assignment is to consider the sustainability practices which are
followed by the business. The companies which are selected for this assignment are Oz Minerals
Ltd and Sandfires Resources ltd. Both the companies are engaged in the business of mining and
minerals extractions (OZ Minerals, 2018). In present times, a lot of emphasis is put on
sustainability practices which are considered as key aspects of business activities. In order to
effectively understand the sustainability practices of the business and promote the same, Global
Reporting Initiative was introduced.
Global Reporting Initiative (GRI) is one of the standard which focuses on sustainability
and the same helps business, governments and other organizations to identify and understand the
impact of the activities of the business on significant issues such as climate change, human rights
and corruption (Planken, 2013). The report will be focusing on the environmental, economic and
social impacts which the activities of the business. As per recent market situation, most of the
companies are concerned with sustainability due to the corporate social responsibility which the
business needs to follow.
Purpose for Providing GRI in Business
The companies which are selected which are Oz Minerals ltd and Sandfires Resources ltd
both are engaged in mining and mineral extraction business are both listed in ASX. As per the
annual reports and the sustainability report which is prepared by the management of Oz Minerals
ltd, the management is committed towards sustainability practices (Ozminerals.com. 2018). The
key activities of the business focus on the impact which such activities have on the environment,
business, employee’s welfare. The sustainability makes it clear that the main purpose of the

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business is to ensure the safety of the employees are ensured and also the environmental
considerations are considered. As per the sustainability report which is prepared by the
management of Oz Mineral ltd, focuses on portraying to the stakeholders that the business is
effectively engaged in the process of value creation considering the financial, social and
environmental responsibilities of the stakeholders of the business (Toppinen & Korhonen‐Kurki,
2013). The company follows the GRI framework for the purpose of reporting for sustainability
practices of the business. The company is committed towards reduction of energy consumption
which the business utilizes and thereby ensure that the energy is used wisely. In the
environmental context the main source of pollution is the dust which is generated in mining
activities for which the management has taken steps to reduce such a pollution which includes
proper road maintenance and speed restriction programs. In addition to this, the sustainability
report also points out that the business uses non-ozone depletion products in mining activities.
The management of Oz Minerals also has restoration program so that the site which was used for
mining project is restored.
As per the sustainability report of Sandfires Resource ltd, the management commitment
towards sustainability is quite clear (Sandfire., 2018). The management has invested a significant
amount of funds in the development of solar projects so as to save the non-renewable resources
of the country and this also shows that the business wants to make efficient utilization of energy
which does not have any adverse impact on the society. The safety of all employees and
contracts are the main the concern for the management of Sandfire Resources. The level of
injuries which accidently happen has reduced from previous year in a 12 months period. The
purpose of the management of the business is to ensure that the interests of the stakeholders of

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the business and also engage in the process of value creation considering the sustainable
development of the business (Fernandez-Feijoo, Romero & Ruiz, 2014).
Therefore, from the above discussions it is clear that the main purpose for both the
companies for following GRI standards is to ensure that the activities which are undertaken by
the business are sustainable and appropriate reports are prepared displaying the same.
Key Stakeholders of the Business
In case of both the companies, the operations are almost similar even though the products
of the companies might be different. The companies which are selected for this assignment
belongs to same industry and are basically rivals (Epstein & Buhovac, 2014). As the business
operations of such companies are similar, the sustainability report will also be similar:
 Investors and Shareholders: The investors and shareholders are important stakeholders
for the business and the sustainability activities of the companies. The potential investors
consider the activities of the business and their impacts on the society. In the case of both
Oz Minerals ltd and Sandfires Resources, shareholders or investors are considered to be
important stakeholders (Eccles, Ioannou & Serafeim, 2014).
 Creditors and Suppliers: The creditors and suppliers of the business are also one of the
stakeholders of the business. The sustainability reports provide a distinctive overview of
the company’s business which provides the creditors and suppliers with a view of the
commitment of the business to ethical practices and sustainable development of the
business (Crane & Matten, 2016). The financial statements of both the companies shows
that the business has taken credit in one or the other and the same is shown as trade and
other payables in the consolidated balance sheet. This shows that the creditors and

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suppliers have interest in the management of the companies which suggest that they are
stakeholders of the business as well.
 Employees: Both the companies employee workers, staff members, supervisors and
managers for the purpose of smooth operation of the business and therefore such group of
individuals are also affected by the activities and fate of the business and are thus
considered to be stakeholders for both Oz Minerals and Sandfire Resources.
There are other stakeholders as well as shown in case of Oz Minerals ltd in the sustainability
report which are landowners, Governmental agencies and other support institutions. The key
stakeholders for Sandfire Resources are also clients, society, governmental bodies. Group
members and other related parties (Sandfire.com.au. 2018).
Similarities and Dissimilarities between the Sustainability reports
The above discussion is concerned with the sustainability practices of Oz Minerals ltd
and Sandfire Resource ltd and as the companies belong to the same mining and minerals industry
therefore there are various similarities between the reports which are formulated by both the
companies. The similarities between the two reports are explained below in point form:
 Both the companies are follow sustainability practices which ensures that the business
follow safety measures for the employees of the company. As both the companies are
engaged in mineral extraction industry, injuries often occur to workers and thus both the
companies have incorporated measures as per sustainability report of 2017 measures
which can reduce the incidence of injuries during operations of the business.

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 The management of Oz Minerals and Sandfire Resources have the policy of effective
waste management and reduction of the same which are generated from the operational
activities of the business.
 The management of both the companies are dedicated towards the needs and expectations
of stakeholders and have effective policies for corporate governance and corporate social
responsibility (Benn, Edwards & Williams, 2014).
 Both the companies have a sustainability committee which looks after the sustainable
practices of the business and plays an active role in the management of the company.
The dissimilarities which exist in the reports of both the companies are explained below:
 The report which is formulated by Oz Minerals ltd has shown restoration projects which
are undertaken by the management for where exploration or mining activities are
undertaken. In the report of Sandfire Resources no such restoration plans are disclosed
explicitly.
 The management of Oz Mineral ltd is much more focused on environmental issues
whereas the management of Sandfires Resources is focused on operating responsibility,
economic development, establishing a safe and secure working place for employees and
attaining respect and accountability.
Analysis of Sustainability Practices
Quality of Information
The information which is provided in both the sustainability reports of Oz Minerals and
Sandfires Resources show that both the companies have covered all the essential aspects which
are necessary to be covered in the sustainability report of the companies. The sustainability

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report of Oz Minerals ltd and Sandfires Resources covers all the vital areas such as
environmental consideration, employee safety, meeting the expectation of stakeholders and
effective governance policies of the business as shown in their respective reports. In addition to
this, the reports also contain a detailed explanation of the future considerations and goals of the
businesses in terms of sustainable developments of the business.
Consistency with Relevant Standards of GRI
As per GRI 102 which is on general disclosures, certain important disclosure
requirements are set out in the standard which are to followed while preparing sustainability
reports of the business. The analysis of the sustainability reports of both the companies reveals
that the companies complies with the requirements of GRI standards and all significant
disclosures are provided in the sustainability reports of both companies. As per GRI 403,
management should focus on occupational health and safety of the workers who are engaged in
operational activities and this is clearly followed as shown in the sustainability reports and the
same states that the level of injuries has reduced in both the companies due to the efforts of the
management. In addition to this, there are certain other standards which have also been followed
by the companies as per the sustainability reports.
Meeting the needs of the Stakeholders
The basic expectations of the stakeholders which is common in case of every category of
stakeholder is that the business should contribute to the needs of the society as a whole and
engage in value creation process. In addition to this, the governance of business should be such
that they are accountable for all activities engaged by the same. The management of Oz Minerals
Ltd and Sandfires ltd follow sustainability practices and this is done in compliance with the GRI

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standards which therefore signifies that the needs and expectation of the stakeholders are taken
into consideration in all activities of the business and both the business strive to attain the future
goals of the business while pursuing sustainable practices.

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Reference
Benn, S., Edwards, M., & Williams, T. (2014). Organizational change for corporate
sustainability. Routledge.
Crane, A., & Matten, D. (2016). Business ethics: Managing corporate citizenship and
sustainability in the age of globalization. Oxford University Press.
Eccles, R. G., Ioannou, I., & Serafeim, G. (2014). The impact of corporate sustainability on
organizational processes and performance. Management Science, 60(11), 2835-2857.
Epstein, M. J., & Buhovac, A. R. (2014). Making sustainability work: Best practices in
managing and measuring corporate social, environmental, and economic impacts. Berrett-
Koehler Publishers.
Fernandez-Feijoo, B., Romero, S., & Ruiz, S. (2014). Commitment to corporate social
responsibility measured through global reporting initiative reporting: Factors affecting the
behavior of companies. Journal of Cleaner Production, 81, 244-254.
Home - Sandfire. (2018). Sandfire.com.au. Retrieved 6 June 2018, from
http://www.sandfire.com.au/
OZ Minerals | A modern mining company. (2018). Ozminerals.com. Retrieved 6 June 2018, from
https://www.ozminerals.com/
Ozminerals.com. (2018). OZ Minerals 2017 Annual and Sustainability Report | OZ Minerals.
[online] Available at: https://www.ozminerals.com/media/oz-minerals-2017-annual-and-
sustainability-report/ [Accessed 10 Jun. 2018].

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Planken, B. (2013). Global Reporting Initiative. In Encyclopedia of Corporate Social
Responsibility (pp. 1254-1256). Springer, Berlin, Heidelberg.
Sandfire.com.au. (2018). [online] Available at:
http://www.sandfire.com.au/images/2017_Sustainability_Report.pdf [Accessed 10 Jun. 2018].
Toppinen, A., & Korhonen‐Kurki, K. (2013). Global Reporting Initiative and social impact in
managing corporate responsibility: a case study of three multinationals in the forest
industry. Business ethics: A European review, 22(2), 202-217.