Simon Pitsillides, SustainCase Editor, discusses with Tim Mohin, CEO of the Global Reporting Initiative (GRI), the ways in which the vast majority of companies which are the backbone of the world economy, can be mobilized to take real action. How they can be encouraged to #takePositiveAction and #bePositiveChange to effectively address this and many other important sustainability issues our world is facing today. By specifically identifying their most important impacts (materiality) and then proceeding to measuring, managing and changing, companies can become, with their positive contribution, part of a positive chain reaction that is changing our world.

Simon Pitsillides: The SustainCase Clean Air campaign in the UK is aimed at the companies who are responsible for approximately 90% of global economic activity (small and medium-sized enterprises). Our main target is that they use GRI 305: Emissions to drive pollution out of business supply chains, either through compulsory reporting (we have started a petition to the UK Government and Parliament) or through self-regulation. In essence, our goal is that the majority of companies take ownership and not only reduce their emissions, but also put pressure on their supply chains in a positive way, by choosing suppliers who produce little or no emissions. What are your thoughts regarding this target and the Clean Air campaign?

Tim Mohin: I am always happy when I see these types of grass roots efforts to encourage businesses to be more accountable for the impacts they are having on the economy, the environment and society. Clean air is such an important issue. It affects everyone. We know from experience that when we create transparency around impacts, businesses start making improvements. And you are right to note how important it is that companies work with their suppliers, since impacts are not limited to the four walls of the business.

GRI Standard 305 Emissions is an excellent tool for businesses of all sizes to measure, manage and communicate their Scope 1, Scope 2 and Scope 3 emissions of greenhouse gases, ozone-depleting substances, nitrogen oxides, sulfur oxides and other significant air emissions. The GRI Sustainability Reporting Standards give organizations the flexibility to report just on their emissions (or any of the other topics) without producing an entire sustainability report.

Pitsillides: On a global scale, a key target of the SustainCase Clean Air campaign is to begin a conversation to make the measuring & public reporting of emissions by small and medium-sized enterprises compulsory, worldwide. This conversation, could help “accelerate change” (I am borrowing a phrase from the interview you kindly gave us in 2017). What are your thoughts on this?

Mohin: In principle I would like to see all businesses taking responsibility for their sustainability impacts, but I also know that many SMEs don’t have the resources to do sustainability reporting in the same way that Fortune 500 companies report. Again, this is why, under the GRI Standards, we created the option for a company to report on specific information without creating an entire report. At GRI, we know that getting more SMEs to begin disclosing information on their sustainability performance is the next big step we need to take in the transparency movement. We are also currently conducting research to assess what kind of policy and regulatory environment would be best, in terms of stimulating more reporting by SMEs.

Pitsillides: Does GRI provide additional support for companies who want to report their emissions using GRI 305: Emissions?

Mohin: Yes we do. With generous support from the Swiss State Secretariat for Economic Affairs SECO, we are currently working in select developing countries (Colombia, Ghana, Indonesia, Peru, South Africa and Vietnam) to stimulate more reporting by small and medium-sized enterprises (SMEs). Through the “Competitive Business Program,” we are helping SMEs begin reaping the many benefits of sustainability reporting, which will allow them to improve their business prospects and make positive contributions to their local society and economy. This effort includes GRI 305 disclosures as well as other key sustainability information.

Because many SMEs do not have the resources to put a sustainability management team in place, we have developed the GRI Digital Reporting Platform, a tool that makes reporting easier for SMEs. Using the Digital Reporting Platform, suppliers can digitally share the specific sustainability information that their customers want. The digital report that’s produced is in a format that allows companies in an SME’s value chain can aggregate and use for their own reporting. After we have completed the pilot phase in these six countries, we plan to make the GRI Digital Reporting platform available worldwide.      

Pitsillides: Which is, in your view, the business case for reporting emissions? How will a small and medium-sized enterprise benefit from reporting this information and not see it as just a compliance requirement?

Mohin: I strongly believe that most business owners want to make positive contributions to their local communities and environment. Still, most SMEs do not report on their sustainability impacts because they either lack knowledge of the benefits they can gain from the practice or they believe that the process of reporting is too costly. So a large part of the work we do here at GRI is demonstrating to SMEs that they can benefit from sustainability reporting. When we look at companies reducing emissions, the business case is actually quite clear. Most of the emissions within a business’ control are associated with costs such as heating or cooling office buildings or fuel for vehicles or electricity used for running equipment. As such, a reduction in emissions is usually coupled with a reduction in those costs. That’s a tangible benefit to a company’s bottom-line.

Pitsillides: Do you believe that emissions should be considered a de facto material issue for all companies, given the urgency of the problem with air pollution as stated by the UN? Should, for example, financial institutions re-examine the boundary of this important material issue? In simple terms, should financial institutions not just report the emissions they are responsible for, but also carry out environmental assessments of clients and clients projects? In addition, should they find ways to support companies that are taking responsible action with clean energy and possibly reduce support for companies that are not doing so?

Mohin: I believe that looking at longer term risk, like climate change, is part of the fiduciary duty of financial institutions. That is why the information disclosed in GRI-reports is important for investors. Savvy investors, including financial institutions, should understand how the companies in which they are invested are performing in terms of environmental, social and governance (ESG) issues. I would like to see all investors using ESG data to inform decision making, so that we can move financial capital towards companies and projects that are making positive contributions to the world. This is particularly important if we want to achieve the Sustainable Development Goals (SDGs).

Trillions of dollars in investment capital are necessary in order to make the achievement of the SDGs a reality, but currently there is a disconnect, between the sustainability data that companies publish and the information that investors need for decision making. To help close this gap, GRI is working together with the UN Global Compact and the Principles for Responsible Investment on “Investor-relevant Business reporting on the Sustainable Development Goals.” This document will provide a brief overview of why investors are increasingly demanding SDG-related performance data, help corporate practitioners better understand who the relevant actors are within the investor community and include recommendations on how to present SDG-related information so that it resonates with an investor audience.

Pitsillides: Are there other issues that could be considered as material for a majority of companies, so as to meet global sustainability goals much sooner and accelerate change?

Mohin: Materiality assessments are very much determined by the context within which a specific business operates. This context is definitely informed by the particular industry or sector of the economy within which a company operates, but each business is unique. That said, the SDGs are the global framework for understanding how the world needs to change in order to create the conditions for sustainable development. All companies and their stakeholders should use the SDGs as a framework to guide their activities.

Pitsillides: Are small and medium-sized enterprises taking advantage of the flexibility the GRI Standards offer to disclose the most relevant information (materiality)? Are they taking action on what matters, where it matters for their business? Have they begun to report?

Mohin: We know that SMEs account for a significant portion of global economic activity and also create a large amount of sustainability impacts. But when we look into the GRI Sustainability Disclosure Database, a repository of over 46,000 sustainability reports, we see that a mere ten percent of them are from SMEs. With the GRI Standards, we are providing SMEs (and other businesses) the option to report on specific sustainability information by using as little as one GRI Standard, or a part thereof, without producing an entire sustainability report. So we hope to see the number of SMEs that disclose information on their sustainability impacts increase in the years to come.

Pitsillides: Thank you very much Mr Mohin.

The post Interview with Mr Tim Mohin, GRI Chief Executive – SustainCase Clean Air Campaign appeared first on SustainCase - Sustainability Magazine.

The Global Reporting Initiative (GRI) promotes the use of sustainability reporting in order for companies and organizations to become more sustainable and be a vital part of a sustainable global economy. GRI has a mission: to make sustainability reporting standard practice. Thus, GRI produces free Sustainability Reporting Standards for all companies and organizations to report their economic, environmental, social and governance performance and positive or negative impacts.

Sustainability reporting will help your company identify key issues to focus on and, accordingly, improve productivity and reduce costs. Additionally, through gaining access to new markets and clients your company’s competitiveness will improve. And these are just some of the benefits.

Let us take a closer look at the main benefits of sustainability reporting, based on the experiences and testimonies of companies that GRI has engaged with in a number of projects:

• Attracting, motivating and keeping employees. Sustainability reporting shows beyond doubt that your company takes sustainability issues seriously and is prepared to publicly discuss, measure and, most importantly, act on them. This will enhance your company’s reputation empowering, motivating and attracting employees committed to your company’s strategic objectives.
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• Spotting strengths and weaknesses. The reporting process will help you identify and evaluate problem areas before they become unwelcome surprises and, also, discover unexpected opportunities ahead of your competitors. During the reporting process you may also realize that certain matters were not dealt with as well as you thought or had not been considered at all.
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• Developing your sustainability vision and strategy. The reporting process will encourage and motivate your company to determine its vision and strategy for operating more sustainably and for providing more sustainable products and services.
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• Improving management systems and setting goals. Sustainability reporting allows your company to track and appraise its performance, highlighting and making changes in areas that need improvement, such as productivity or business costs. Once your company starts reporting there will be increased expectations regarding its performance goals.
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• Attracting funding. Lending institutions and investors increasingly take account of a company’s vision and performance in key sustainability issues when making funding decisions. A GRI reporting process will help your company manage sustainability issues more efficiently and be prepared to discuss openly its performance.
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• Transparency and stakeholder engagement. Sustainability reporting will enhance your transparency and will be instrumental in building a solid relationship, based on mutual trust, with the company’s stakeholders whether these be clients, suppliers or shareholders, employees, local communities, NGOs or local government.
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• Gaining competitive advantage. As sustainability reporting is still not common practice across all business sectors, your company can become a “leader in sustainability”.
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• Improving your reputation, building trust and respect. Your company’s reputation, the trust and respect you have gained are of the utmost importance for your stakeholders. Accurate, honest, complete corporate reporting (reporting both on what goes well and on where there is room for improvement) builds trust and respect for your company.
  …more

Related SustainCase section:

“Why Sustainability is important – Articles-Research”. The latest research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

FBRH GRI Standards Certified & ISEP recognised Sustainability Course | Venue: London LSE

By registering for the next 2-day FBRH GRI Standards Certified & ISEP recognised course you will be taking the first step in gaining the many benefits of sustainability reporting.

The post The value of sustainability reporting appeared first on SustainCase - Sustainability Magazine.

We are offering for free the Highly Rated 2-day FBRH GRI Standards Certified, ISEP and CIM Recognised course (venue: London School of Economics) to any Chamber of Commerce or Business Membership Organisation that commits to publish a GRI Standards Sustainability Report within one year.

With the course you will learn how to take positive sustainability action ASAP using the GRI Standards: an all-round, complete, structured, and methodical approach used by 80% of the world’s largest 250 companies.

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CLIENTS / COMPANIES TRAINED BY FBRH

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This article lays out how companies or organisations can accelerate positive change with the use of the GRI Standards which are overwhelmingly, the chosen framework for CSR/ ESG/ SDG/ Sustainability reporting. Today, 80% of the world’s 250 largest companies report according to the GRI Standards.

Two major issues in today’s world – the bigger picture is material
1) Whilst there is a huge take-up of sustainability reporting by the largest companies globally, they only represent approximately 10% of the global economy. SMEs, which represent about 90%(1) of the global economy, are taking little or no action to address huge issues like climate change or their impacts on the economy and society.

2) We need to shift gears and accelerate change, dealing now with issues that are screaming ‘urgent’ – like taking action on climate change (2a) (2b) (2c). This has to be done now by the vast majority of companies, large and small, on a global scale. Companies must first identify their impacts and, then, must take focused action by measuring, managing and changing.

Evolving your GRI Standards report to one that matters
In view of the pressing sustainability issues we are facing, I firmly believe that companies must make every effort accelerate positive change  Tweet This!. They must take a step back and see the forest, address environmental issues but also take positive action to develop the economies and societies on which they rely for growth and profit. US$12 trillion is the cherry on the cake (see below).

I propose that in addition to their material topics, companies report on:

1) four very important standards (descriptions below):

• GRI Disclosure 201-1 Direct economic value generated and distributed(3)
• GRI Standard 203 Indirect Economic Impacts(4)
• GRI Standard 308 Supplier Environmental Assessment(5)
• GRI Standard 414 Supplier Social Assessment(6)

2) at least one positive impact on society, using any of the GRI Standards but, more specifically, GRI 201 and 203
3) how they implemented GRI’s Reporting Principles, which help them demonstrate that they are not greenwashing

How is a company treating the society on which it relies for growth and profit?
GRI Disclosure 201-1 Direct economic value generated and distributed
With this disclosure companies must report and provide information on:

• Direct economic value generated: revenues;
• Economic value distributed: operating costs, employee wages and benefits, payments to providers of capital, payments to government by country, and community investments;
• Economic value retained: ‘direct economic value generated’ less ‘economic value distributed’.

GRI Standard 203 Indirect Economic Impacts

• Disclosure 203-1 Infrastructure investments and services supported
• Disclosure 203-2 Significant indirect economic impacts

What does this mean for the person in the street?

These are both marvellous GRI Standards that companies can use to report on their positive impacts. However, many companies see sustainability reporting as a tick box exercise and fail to realise the importance of using their strengths to tackle, head-on, the problems that seem to be always in the headlines. Imagine a world where most companies are finding solutions for the important issues in the societies they operate and rely on for profit/growth. Issues related to infrastructure, unemployment (most importantly, youth unemployment), support for local suppliers and economic development in areas of high poverty, or the availability of their products and services for those with low incomes.

License to operate – millennials
Millennials, who hold our future in their hands, are overwhelmingly pro-sustainability and are showing this with their every action. Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.(7)

Case studies of companies demonstrating positive impacts on the economy and society 

Increasing supply chain pressure to get the smaller companies (that represent 90% of the global economy) to measure-manage-change
GRI Standards 308 and 414 supplier assessment (environment and social), used in combination with any of the other environmental or social standards, will accelerate positive change. Smaller companies wishing to be part of the supply chain of larger companies will, as a matter of fact, have to provide the information required by these standards. Most importantly, they will not be burdened with a full-scale report, as they will only be reporting on what matters (materiality).

What does this mean for the person in the street?

Experts on climate change are screaming ’emergency’, but politicians and other decision-makers around the world are either indifferent or dragging their feet, or not moving fast enough. Imagine a world where, despite these difficulties, the overwhelming majority of large companies, take action ASAP. A world where these companies take it upon themselves to clean their supply chains of emissions using GRI 308 Supplier Environmental Assessment in combination with GRI 305 Emissions. In essence, these companies will be using their buying power to implement the positive change that is so desperately needed and get the companies (SMEs) that are responsible for 90% of global economic activity to toe the line. At the same time, they will be able to tackle other key environmental issues (e.g. water, waste, biodiversity, and others).

Similarly, companies can leverage their strengths to implement positive outcomes for society. GRI 414 Supplier Social Assessment will help diminish bad practices in their supply chain. Companies will be able to address issues such as occupational health and safety, diversity and equal opportunity, child labour, forced or compulsory labour.

Case studies of companies cleaning their supply chain

How the GRI Principles can help companies avoid being accused of greenwashing
I believe that companies might hold back from implementing positive change, in fear of being accused of greenwashing. In the digital age we live in, information is instantly and freely accessible throughout the globe and this applies to companies, too: people are able to instantly access information about a company’s policies, the impact of its activity, its reputation, with or without the company’s consent(8). The GRI Reporting Principles go a long way in helping companies demonstrate that they are not greenwashing(9). By requiring companies to report according to these principles, GRI helps them create a first-class report regarding both content and quality, and demonstrate that they are taking solid, focused action (materiality) on their most important impacts. In essence, companies are building their armour and, if a question appears on social or other media, they are able to simply say ‘we are dealing with this impact in a responsible way, you can find information on how we are constantly improving in our GRI Standards Sustainability Report’.

Strategy – Strategy – Strategy
Seeing 90% of the ‘forest’ (SMEs taking action) is material
In my opinion, we need to step back and see the forest. Small and medium-sized enterprises (SMEs), responsible for around 90% of global economic activity, must begin to measure, manage and change. By using the proposed standards we:
1) put in place the foundation for a solid strategy to address the urgent sustainability issues outlined above
2) help companies demonstrate in no uncertain terms that they are spearheading positive change ASAP and promoting social and environmental responsibility throughout their supply chains(10)
3) get more of the SMEs, which represent 90% of global economic activity, to engage in focused reporting (material topics)
4) streamline reporting for SMEs that will not be burdened to provide a full report.

Action has to be taken yesterday – US$12 trillion is the cherry on the cake
In view of the pressing issues we are facing regarding the environment, economy and society, we need to take urgent action. I invite companies to take positive action now, using the above-mentioned GRI Standards and report their progress in their next reporting cycle. The cherry on the cake is not just creating a better, more sustainable world for all of us. According to the ‘Better Business, Better World’ report by the Business and Sustainable Development Commission (BSDC), sustainable business practices will, by 2030, create, for corporations, tremendous market opportunities worth US$12 trillion  Tweet This! (11).

Also read:

• Case Studies: How companies are cleaning their supply chains of bad environmental and social practices
• Case studies: How companies are affecting positive change on the economies and societies they operate in and rely on for profit/growth

Simon Pitsillides
Sustainability Reporting and Marketing Communication Strategy Expert. Simon is a Fellow of the Chartered Institute of Marketing (FCIM) a Fellow of the Institute of Sustainability and Environmental Professionals (FISEP) and a Chartered Marketer, and holds an MBA in Marketing. He is a GRI and ISEP Trainer, the publisher of www.sustaincase.com and owner of www.fbrh.co.uk. Simon teaches the FBRH GRI Standards Certified, ISEP & CIM Recognised Course (venue: London School of Economics (LSE). 

https://www.linkedin.com/in/simon-pitsillides

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

FBRH GRI Standards Certified & ISEP recognised Sustainability Course | Venue: London LSE

By registering for the next 2-day FBRH GRI Standards Certified & ISEP recognised course you will be taking the first step in gaining the many benefits of sustainability reporting.

References:

(1) An exclusive interview with Tim Mohin, GRI’s new Chief Executive. https://sustaincase.com/an-exclusive-interview-with-tim-mohin-gris-new-chief-executive/
(2) A. Climate report: Scientists urge deep rapid change to limit warming. https://sustaincase.com/climate-report-scientists-urge-deep-rapid-change-to-limit-warming/
B. UN Secretary General: Climate change is moving faster than we are. https://sustaincase.com/un-secretary-general-climate-change-is-moving-faster-than-we-are
C. Four former UN climate talks presidents urge action on climate change. The next two years are crucial https://sustaincase.com/urgent-climate-change-action-needed-the-next-two-years-are-crucial/
(3) GRI Disclosure 201-1 Direct economic value generated and distributed. https://www.globalreporting.org/standards/gri-standards-download-center/gri-201-economic-performance-2016/
(4) GRI Standard 203 Indirect Economic Impacts. https://www.globalreporting.org/standards/gri-standards-download-center/gri-203-indirect-economic-impacts/
(5) GRI Standard 308 Supplier Environmental Assessment. https://www.globalreporting.org/standards/gri-standards-download-center/gri-308-supplier-environmental-assessment-2016/
(6) GRI Standard 414 Supplier Social Assessment. https://www.globalreporting.org/standards/gri-standards-download-center/gri-414-supplier-social-assessment-2016/
(7) Why Sustainability is important. https://sustaincase.com/articles-research/
(8) Laying the foundation for good communication with responsible CSR/ sustainability reporting. https://sustaincase.com/good-communication-with-responsible-csr-reporting/
(9) How not to be accused of Greenwashing. https://sustaincase.com/how-not-to-be-accused-of-greenwashing/
(10) Over 100 case studies on www.sustaincase.com demonstrate how companies are taking positive, focused action. https://sustaincase.com/category/case-studies/
(11) BSDC: Achieving the UN Sustainable Development Goals will create, for businesses, opportunities worth US$12 trillion. https://sustaincase.com/bsdc-achieving-the-un-sustainable-development-goals-will-create-for-businesses-opportunities-worth-us12-trillion/
(12) FBRH Consultants Ltd is a GRI Standards Certified Training Partner (UK) and an Institute of Sustainability and Environmental Professionals (ISEP) Training Partner.
(13) Institute of Sustainability and Environmental Professionals (ISEP). https://fbrh.co.uk/en/ISEP
(14) 2-day FBRH GRI Standards Certified and ISEP Approved Training Course • London LSE. https://fbrh.co.uk/en/gri-certified-training/2-day-fbrh-gri-standards-certified-training-course-about

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The multiple and severe impacts of overconsumption

The impacts of this unprecedented consumption of natural resources are multiple and severe. They include a failure to support ecosystems, lack of freshwater, clean air and soil, and, most importantly, climate change.

Climate change makes extreme weather events, like wildfires and heatwaves, more likely to occur and more severe, and these events have significant economic, human and social consequences.

According to HSBC, adaptation to climate change will become increasingly important, focusing mostly on its social consequences. In addition, as these extreme weather events show, many governments and businesses around the globe are not sufficiently prepared to face climate impacts, and are not making efficient use of natural resources.

As a consequence, investors are pressed to incorporate environmental, social and governance issues and policies into investment decisions, and businesses will be under increasing pressure to become more sustainable  Tweet This! and to develop and disclose their related strategies.

Note by the Editor:

The questions businesses and governments should be asking are:

1. Have we identified our most important impacts (materiality) on the environment, the economy and society?
2. Are we addressing our direct and indirect impacts?
3. Are we taking action in a responsible way?

Once we identify our most important impacts we should measure, manage and change. We should reduce our negative impacts and increase our positive impacts, both direct and indirect. For example, it is not enough for a large e-commerce company to just deal with the emissions it is directly responsible for (e.g. a few company cars). If it heavily relies on external courier services for delivery of orders, how is it dealing with their impacts? Is this company using, for instance, GRI Standard 308 Supplier Environmental Assessment in combination with GRI 305 Emissions to assess and choose the right suppliers?

Simon Pitsillides

SustainCase Editor

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

FBRH GRI Standards Certified and ISEP approved Sustainability Course | Venue: London LSE

By registering for the next 2-day FBRH GRI-Standards Certified and ISEP approved Course you will be taking the first step in gaining the many benefits of sustainability reporting.

References:

This article is based on published information by HSBC. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the publication’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.gbm.hsbc.com/insights/energy-and-resources/earth-budget-already-spent

The post We are running out of resources to sustain life appeared first on SustainCase - Sustainability Magazine.

“The improvements that organizations will be able to make by using GRI’s Disclosure Review Service will increase the transparency needed to build a better world,” said Shivani Rajpal, Head of Services at GRI.

Improving report quality with the Disclosure Review Service  Tweet This!

The Disclosure Review Service will enable organizations to get valuable feedback on specific disclosures, which GRI will review to find out whether an organization has satisfied the information requirements of the GRI Standards.

It covers 10 strategically chosen disclosures, relating to how organizations approach materiality assessment and stakeholder engagement. Later in 2018, more disclosures will be added.

How does the Disclosure Review Service work?

GRI will review your organization’s draft report, to evaluate the organization’s reporting on the chosen disclosures from GRI 102: General Disclosures. GRI will complete the review in four to eight weeks. Upon successful completion of the service, organizations will receive from GRI an organizational mark with an additional statement, which they can use in their report.

Acting as a stakeholder, GRI will give detailed feedback, to help organizations better respond to the GRI Standards’ information requests. In addition, GRI will provide a final feedback report focused on the application of the Materiality and Stakeholder Inclusiveness Principles, to help organizations better prepare for future reports.

How much will the Disclosure Review Service cost?

The Disclosure Review Service will cost €4,000 for SMEs and not-for-profit organizations, and €5,000 for all other organizations. This is a first-year introductory price. For more information regarding the service and how to join, organizations may visit GRI’s Disclosure Review Service web page.

References:

This article is based on published information by GRI. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the publication’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.globalreporting.org/information/news-and-press-center/Pages/Improve-the-quality-of-your-report-with-GRI%E2%80%99s-new-Disclosure-Review-Service.aspx 

The post Improve the Quality of your GRI Standards Report appeared first on SustainCase - Sustainability Magazine.

This case study is based on the 2016 Corporate Responsibility Report by Delta published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Abstract

Creating a proactive safety culture for all employees, through a number of procedures and initiatives intended to ensure a safe and healthy work environment, is a key priority for Delta. In order to promote employee health, safety and security Delta took action to:

• improve safety at facilities through annual Safety Business Plans
• increase employee awareness of health and safety through the National Safety Month
• offer health benefits to employees
• protect the health of traveling employees

The post Case study: How Delta promotes employee health, safety and security appeared first on SustainCase - Sustainability Magazine.

• 80% of the world’s 250 largest companies issue Corporate Social Responsibility (CSR) reports in accordance with the GRI Standards.
• 111 policies across 50 countries reference GRI.
• The UN Global Compact and GRI have introduced an innovative action platform whereby the GRI Standards will be used by companies wishing to take action and report on the Sustainable Development Goals (SDGs).
  

This case study is based on the 2014-2015 Combined Report by GRI published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Abstract

GRI recognizes the importance of a multi-stakeholder engagement in promoting transparency.   Tweet This! Thus, as a multi-stakeholder organization, GRI aims at reinforcing an inclusive stakeholder engagement in its actions and projects, considering its stakeholders’ views. In order to engage with its stakeholders and act on their feedback GRI took action to:

• establish an efficient communication channel between the management and employees
• acknowledge and comply with donors’ expectations
• engage Alignment Service clients
• develop the G4 Monitoring Program
• introduce the Corporate Leadership Groups

The post Case study: How GRI engages with its stakeholders and acts on their feedback appeared first on SustainCase - Sustainability Magazine.

Based on the findings of relevant surveys, the Chartered Institute of Marketing (CIM) identified a number of key behaviour patterns in millennial consumers (18- to 34-year-olds) regarding Corporate Social Responsibility (CSR):

• 81% of millennials would like companies to publicly commit to CSR values

• 92% of millennials would choose to buy from a company committed to ethical business practices

• 64% of millennial females bought, in the past year, a cause-related product

• 82% of millennials would strive to be employed by a company recognized for its commitment to business ethics

• More than 9 out of 10 millennials would change brands to a cause-related one

• 73% of millennials would pay extra for sustainable offerings – a significant increase from 50% in 2014

Moreover, according to the surveys, millennials would:

• buy environmentally or socially beneficial products
• offer voluntary support for a cause promoted by a trusted company
• express their views to a company regarding its CSR programs
• mention to their friends and family a company’s CSR initiatives

References:

This article was compiled using a publication by the Chartered Institute of Marketing. For the sake of readability, we did not use brackets or ellipses but made sure that the extra or missing words did not change the publication’s meaning. If you would like to quote these written sources from the original please revert to the links below:

https://exchange.cim.co.uk/infographic/millennials-love-csr/?utm_source=Exchange%20newsletter&utm_campaign=Exchange%20newsletter&utm_medium=Email&_cldee=c2ltb25AZmJyaC5ldQ%3d%3d&recipientid=contact-45545ffae8f4e4118103c4346bad1218-c1c53dcf21664731945075fba1549b47&esid=6f74b51b-5aaa-e611-80ef-5065f38bc591&urlid=2

https://www.philanthropy.com/items/biz/pdf/AflacCorporateSocialResponsibility.pdf

http://www.conecomm.com/research-blog/2015-cone-communications-millennial-csr-study

http://www.nielsen.com/us/en/insights/reports/2015/the-sustainability-imperative.html

The post Chartered Institute of Marketing (UK): Millennials love CSR appeared first on SustainCase - Sustainability Magazine.

This case study is based on the 2015 Corporate Responsibility Report by Deutsche Telekom published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate that CSR/ sustainability reporting done responsibly is achieved by identifying a company’s most important impacts on the environment and stakeholders and by measuring, managing and changing. 

Abstract

According to a survey conducted by TNS Emnid for Deutsche Telekom in February 2016, nearly half of the German population (48%) has fallen victim to Internet crime. Guaranteeing data privacy and security is, thus, highly important for Deutsche Telekom. In order to promote data privacy and security Deutsche Telekom took action to:

• publish an annual data privacy and Transparency Report
• provide employees with data privacy training
• annually audit data privacy standards
• raise employee awareness about data privacy

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Robert G. Eccles, Ioannis Ioannou and George Serafeim carried out a study exploring the impact of corporate sustainability on a company’s organizational procedures and performance, using a sample of 180 US companies divided in two groups: 90 companies identified as ‘High Sustainability’ companies, implementing environmental and social policies and initiatives over a number of years, and 90 companies identified as ‘Low Sustainability’, implementing no such policies or initiatives.

‘High Sustainability’ companies outperform ‘Low Sustainability’ ones

• According to the study, ‘High Sustainability’ firms ‘are able to attract better human capital, establish more reliable supply chains, avoid conflicts and costly controversies with nearby communities (i.e., maintain their license to operate), and engage in more product and process innovations in order to be competitive under the constraints that the integration of social and environmental issues places on the organization’.

• Stock market performance: The study is quite clear on how ‘High Sustainability’ firms outperform ‘Low Sustainability’ ones: ‘Investing $1 in the beginning of 1993 in a value-weighted (equal-weighted) portfolio of High Sustainability firms would have grown to $22.6 ($14.3) by the end of 2010. In contrast, investing $1 in the beginning of 1993 in a value-weighted (equal-weighted) portfolio of control firms would have only grown to $15.4 ($11.7) by the end of 2010.’

• ‘High Sustainability firms generate significantly higher stock returns, suggesting that indeed the integration of such issues into a company’s business model and strategy may be a source of competitive advantage for a company in the long-run. A more engaged workforce, a more secure license to operate, a more loyal and satisfied customer base, better relationships with stakeholders, greater transparency, a more collaborative community, and a better ability to innovate may all be contributing factors to this potentially persistent superior performance in the long-term.’

References:

1) http://www.hbs.edu/faculty/Publication%20Files/SSRN-id1964011_6791edac-7daa-4603-a220-4a0c6c7a3f7a.pdf

2) http://www.fbrh.eu/en/csr-sustainability-facts-and-research

Note by the editor: This article was compiled using published information by the Harvard Business School which is located at the link below. For the sake of readability, we did not use brackets or ellipses but made sure that the extra or missing words did not change the article’s meaning. If you would like to quote these written sources from the original please revert to the original link: http://www.hbs.edu/faculty/Pages/item.aspx?num=47307

The post Harvard Business School study: Companies implementing sustainability policies outperform those who fail to do so appeared first on SustainCase - Sustainability Magazine.