Sustainability Reporting And Its Importance Essay
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, two key issues of organizations are a growing concern: losing the creative competencies needed for sustainability and engaging the necessary resources for innovation.
CSR requires managers to consider all factors including natural environment, social welfare, and economic prosperity. As a consequence, corporate decision makers “face a great deal of ambiguity in understanding the issues, the implications of these issues for their organizations, and ways to respond to these issues” (Sharma, 2010: 683). Environmental issue have made senior members of companies and business to give careful consideration on this issue.
A shift from compliance to proactive corporate sustainability is gaining ground as more companies are taking advantage of…