Importance Of Sustainability Report
Sustainability Reporting and its importance in a publically listed company like WealthWise
Sustainability report is the report which is published by the organization and it presents the economic, environment and social impacts that incurs because of the company’s working. The report presents the corporate governance of the company and establishes the link between the company’s strategy and its sustainable economy.
Society expects corporations to behave in a socially responsible way. That is, companies should make sure their behaviour has positive effect on environment, employees, and society. In addition, companies should ensure transparent governance that ensures against corruption.
As corporations downsize, merge, and sold, …show more content…
First, one line of thought emphasizes that sustainable companies can benefit from recruitment and retention of top talent, and improvements in employee productivity. Second, research on environmental sustainability has shown that eco-efficiency strategies focusing on the reduction of pollution, energy consumption, and water conservation may lead to bottom-line benefits by cutting manufacturing costs and expenses at commercial sites. Third, management studies have underscored the importance of protecting company reputations against widening ethical and environmental corporate scandals. For example, public pressure forced DuPont, Nike, and GE to incorporate ethical and environmental considerations into their corporate …show more content…
The role of social responsibility is growing not only among certain investors, but also among strategic managers. According to Maxfield (2008), companies are wise to consider their investments in CSR from a strategic standpoint instead of making those investments under coercion by the market.
The concept has followed a path of evolution, morphing to take on different meanings to different people at different times. Chieffe and Lahey (2009) explored some of the definitions ascribed to CSR, often referred to as SRI. The themes of CSR generally follow common threads and include the elements of environmental concern and protecting the rights of people. Initially, discussing social responsibility followed broad-based references to social responsibility without any definition of what that responsibility encompassed.
It is important for wealth wise to educate their employees about different activities which will help in promoting sustainability within the