ACCG 950: A Comparative Study of Sustainability Reporting Practices

This report provides a comprehensive analysis of sustainability reporting practices, focusing on Woolworths and Westfield, two prominent Australian retailers. It examines the purpose of their GRI (Global Reporting Initiative) reports, identifies key stakeholders and their interests, and highlights similarities and differences in their reporting approaches. The report critically evaluates the quality of information, consistency with GRI standards, and the extent to which the reports meet stakeholder needs. It covers aspects such as environmental concerns, employee safety, ethical sourcing, and corporate governance, concluding that both companies adhere to GRI guidelines and address stakeholder expectations in their sustainability efforts.

Running head: SUSTAINABILITY REPORTING
Sustainability Reporting
Name of the University:
Name of the Student:
Authors Note:

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Table of Contents
Introduction..........................................................................................................................2
1. Company Purpose for Offering GRI or IR......................................................................2
1.1. Purpose of GRI in Woolworths................................................................................2
1.2. Purpose of GRI in Westfield.....................................................................................3
2. Major Stakeholders Interest in Sustainability Report......................................................3
3. Important Similarities and Differences in the Report......................................................4
4. Sustainability Report Evaluation.....................................................................................6
4.1. Information Quality..................................................................................................6
4.2. Consistency with GRI OR IR Standards..................................................................6
4.3. Information Meeting Stakeholders Needs................................................................7
Conclusion...........................................................................................................................7
References............................................................................................................................8

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Introduction
In the current years it has turned out to be important for the companies to develop
sustainability reports for addressing information requirements of their related stakeholders.
Sustainability reporting will be elaborated within the paper that will focus on offering
information regarding economic, environmental, governance and social performance (Alonso‐
Almeida, Llach and Marimon, 2014). The paper will also focus on evaluating General Reporting
Initiative (GRI) strategy in consideration to Woolworths and Westfield. These two companies
are positioned as renowned retailers those operate within Australia. In the current report, these
two Australian companies are chosen for analyzing their sustainability initiatives that can be
analyzed in consideration to the GRI guidelines.
1. Company Purpose for Offering GRI or IR
1.1. Purpose of GRI in Woolworths
The concept of “Greening Retail” is followed by Woolworths in compliance with both
internal and the external frameworks related with retail sector in Australia. The plan has been
prepared relied on five key aspects such as change in climate, water, packaging and waste. The
objective behind developing sustainability report is to offer stakeholders with vital information
that includes decrease in carbon emission (Fernandez-Feijoo, Romero and Ruiz 2014). Certain
other objectives consider ensuring that the carbon emission levels are decreased with support of
transport processes. Sustainability report also assures that the fleet of this company focuses on
decrease in 30% of carbon emission and to decrease the usage amount of water by more than 200
million liters each year. Woolworths contributes in decrease of food waste within the landfill and

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carry out the retail sourcing activities focused on sustainable along with ethical considerations
(Fonseca, McAllister and Fitzpatrick 2014).
1.2. Purpose of GRI in Westfield
The significance of offering GRI for Westfield is to offer information concerning values
it obtained and such values includes sourcing, people, community, governance along with
environment. In consideration to people, Westfield focuses on offering safer place of work for
the employees and this focuses on development of effective work surrounding in consideration to
maintain gender diversity (Gallego-Álvarez, Lozano and Rodríguez-Rosa 2018). In order to
source, the company considers ethical sourcing along with suppliers. In other words, the
suppliers are focused on preparing strong and cordial relations. For this reason, the company
follows suppliers and ethical sourcing. In addition to that, the suppliers are focused on preparing
strong and cordial relationships. For this reason, ethical sourcing basically strives in most
effective way and improving social practices. In consideration to community, Westfield Limited
makes certain that product safety for all its consumers. In consideration to environment,
Westfield decreases its greenhouse emissions of companies and attaining improvement of
climate change resilience (Hahn and Lülfs 2014). Considering same, water and waste usage
decreases overall landfill waste. With focus on governance, the company sustains efficient
corporate governance policies in distinct business segments.
2. Major Stakeholders Interest in Sustainability Report
The major group of stakeholders those are interested within sustainability reporting of
Woolworths and Westfield are elaborated below:

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 Investors and shareholders are deemed as important business stakeholders and they
consider following the sustainability practices implemented by the companies (Henri and
Boiral 2017). The investors consider the business conducts along with the societal
influences. These companies sustainability report also indicates the initiatives of
companies in providing benefits to the community and such business practices facilitate
in promoting overall business position.
 Employees are also deemed to be an important stakeholder group and a vital part of
reporting strategy as they might focus on attaining information on performance of
numerous organization factors including safety standards. Moreover, they might facilitate
in attaining information whether suitable working environment is made sure to address
the personal as well as business objectives (Islam, Jain and Thomson 2016).
 The suppliers as well as the creditors are deemed as considerable stakeholders of
companies. With the support of sustainability reporting, it turns out to be simple for the
suppliers as well as creditors to attain an overview of business commitment in
consideration to ethical business practices and sustainable development. In such scenario,
the creditors might be interested in extending credit terms with the company as they
attain confidence in total business conducts (Llewellyn and Logsdon 2017).
3. Important Similarities and Differences in the Report
Similarities and differences are observed in relation to the sustainability practices of
Woolworths Limited and Westfield. In addition, as both the companies operate within Australian
retail industry, several similarities are gathered in the reports played by them (Milne, Gray and
Buhr 2014). Certain major similarities are observed in the company’s reports that are explained
under:

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Woolworths and Wesfarmers ensure sustainability strategies follow suitable safety
standards are enforced for the employees. In addition, both of these companies offer information
regarding number of accidents or injuries that took place annually and they have also
implemented measured explained within sustainability reports. The objective is to decrease the
number of accidents at the time of business conducts (Vigneau, Humphreys and Moon 2015).
The management of Woolworths and Westfield and better policies related with waste
management so that there might be decrease in waste generated from several operating activities
of the companies. These companies have indicated their commitments to addresses the
requirements and expectations of the stakeholders through implementing effective corporate
governance along with policies of corporate social responsibility. Westfield and Woolworths has
developed sustainability committees that might make sure of sustainability within their business
practices through offering constant feedback to the company’s management (Westfield.com.au.
2018).
Conversely, there is some dissimilarity in the reports of Woolworths and Westfield is
explained below:
Woolworth’s management has out great focus on environmental concerns within the
sustainability report that is not identical in case of Westfield. This is due to the reason that
environmental issues are associated disclosures along with important information has been
offered regarding safety and security of employees, ethical sourcing as well as product safety
(Woolworthsgroup.com.au. 2018). In contrast, Woolworths has explained regarding fleet in
decreasing the carbon emission and there is no such disclosure might be gathered from the case
of Westfield.

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4. Sustainability Report Evaluation
4.1. Information Quality
Based on the information explained within sustainability reports of Woolworths along
with Westfield it can be gathered that all such companies have disclosed the important aspects
that are required to be included in the business organization reports (Gallego-Álvarez, Lozano
and Rodríguez-Rosa 2018). It has also been evaluated that the sustainability reports of these
companies take into consideration the considerable areas including employee safety,
environment protection, stakeholder expectation and effective governance policies indicated
within organization reports. In addition, both the company reports offer detailed account of
upcoming goals and develop plans in consideration to sustainable business development. In
addition, it can also be indicated that information quality is proper in Westfield in contrast to
Woolworths (Gallego-Álvarez, Lozano and Rodríguez-Rosa 2018).
4.2. Consistency with GRI OR IR Standards
As per GRI 102 that is associated with general disclosures, it has been gathered that it
contains numerous disclosure needs and they are vital while preparing sustainability reports for
the companies (Fernandez-Feijoo, Romero and Ruiz 2014). After detailed evaluation of
sustainability reports of Woolworths and Westfield’s, it is deemed that they abide by every
guideline explained within the GRI standards through carrying out important disclosures within
the company reports. In adherence with GRI 403 it is important for the management of these
companies to focus on health and safety of employees associated with operational activities and
they have strictly abided by these policies as recognized from sustainability reports (Fernandez-
Feijoo, Romero and Ruiz 2014). It has been revealed from sustainability reports of these
organizations that accidents of employees are decreased over years for the management has

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implemented effective measures in its control. Additionally, these two companies operate its
business following guidelines set by the GRI sustainability standards.
4.3. Information Meeting Stakeholders Needs
Every stakeholder expectation varies relied on size, nature and operations of the
companies. Conversely, here is single common expectation for every stakeholder category. All
of these stakeholders desire the companies to make contributions in addressing the societal
requirements that further improves value creation (Henri and Boiral 2017). In addition,
governance practices followed by these companies must be developed in a way that they are
accountable for every associated activity. The management of Westfield and Woolworths are
associated in following sustainability conducts and this is carried out in compliance with GRI
standards. This indicates that these organizations have considered the stakeholders needs and
expectations in conducting business operations and conducts (Henri and Boiral 2017). Therefore,
it can be indicated that these two Australian retail companies develop efficient strategies in
attaining future business objectives along with carrying out sustainability conducts.
Conclusion
Focused on analysis of the companies carried out in this report, it is gathered that
Woolworths and Westfield offers all important information focused on sustainability reporting.
For this reason, ethical sourcing basically strives in most effective way and improving social
practices. In consideration to community, Westfield Limited makes certain that product safety
for all its consumers. Moreover, these two companies have followed all important guidelines
explained within GRI and have also implemented measures for developing effective
sustainability strategies.

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References
Alonso‐Almeida, M., Llach, J. and Marimon, F., 2014. A closer look at the ‘Global Reporting
Initiative’sustainability reporting as a tool to implement environmental and social policies: A
worldwide sector analysis. Corporate Social Responsibility and Environmental
Management, 21(6), pp.318-335.
Fernandez-Feijoo, B., Romero, S. and Ruiz, S., 2014. Effect of stakeholders’ pressure on
transparency of sustainability reports within the GRI framework. Journal of business
ethics, 122(1), pp.53-63.
Fonseca, A., McAllister, M.L. and Fitzpatrick, P., 2014. Sustainability reporting among mining
corporations: a constructive critique of the GRI approach. Journal of Cleaner Production, 84,
pp.70-83.
Gallego-Álvarez, I., Lozano, M.B. and Rodríguez-Rosa, M., 2018. An analysis of the
environmental information in international companies according to the new GRI
standards. Journal of Cleaner Production, 182, pp.57-66.
Hahn, R. and Lülfs, R., 2014. Legitimizing negative aspects in GRI-oriented sustainability
reporting: A qualitative analysis of corporate disclosure strategies. Journal of business
ethics, 123(3), pp.401-420.
Henri, J.F. and Boiral, O., 2017. Is Sustainability Performance Comparable? A Study of GRI
Reports of Mining Organizations.

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Islam, M. A., Jain, A. and Thomson, D., 2016. Does the global reporting initiative influence
sustainability disclosures in Asia-Pacific banks?. Australasian Journal of Environmental
Management, 23(3), pp. 298-313.
Lewellyn, P. G. and Logsdon, J. M., 2017. Global Reporting Initiative G4 Sustainability
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Vigneau, L., Humphreys, M. and Moon, J., 2015. How do firms comply with international
sustainability standards? Processes and consequences of adopting the global reporting
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Westfield.com.au., 2018. Retrieved 5 June 2018, from https://www.westfield
group.com.au/icms_docs/189425_corporate-responsibility-report-2017.pdf
Woolworthsgroup.com.au., 2018. Retrieved 5 June 2018, from
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