Comments on: Key Issues in the Current Debate on Sustainability Reporting? http://souleconomy.com/key-issues-in-the-current-debate-on-sustainability-reporting/ Connecting Communities Tue, 07 Feb 2012 12:51:52 +1100 http://wordpress.org/?v=abc hourly 1 By: amanda http://souleconomy.com/key-issues-in-the-current-debate-on-sustainability-reporting/comment-page-1/#comment-474 amanda Sun, 05 Oct 2008 09:01:23 +0000 /?p=488#comment-474 Hi Elaine Thank you for your comments and insights. I too agree that companies need to report not only on the good news but also on the issues, and indicate plans for improving on these. Hi Elaine

Thank you for your comments and insights. I too agree that companies need to report not only on the good news but also on the issues, and indicate plans for improving on these.

]]> By: elaine cohen http://souleconomy.com/key-issues-in-the-current-debate-on-sustainability-reporting/comment-page-1/#comment-467 elaine cohen Fri, 03 Oct 2008 12:37:53 +0000 /?p=488#comment-467 hi, whilst the combination of financial and non-financials into one report sounds like a nice easy compact way to present all stakeholders with one comprehensive information pack, I tend to think this is not the way to go. Annual financial reports and sustainability reports are produced for different audiences, thought there is of course overlap. The nature of the reports are entirely different - financials being constrained by legaleze and accountanteze and long lists of numbers who all but the most competent of financial analysts have no idea what or why they are there. Sustainability reporting is about the other purpose - the things the company does other than make and money (to use Cristine Arena's core question). Its the story of how the Company interacts and impacts on stakeholders, backed up with sets of pertinent and explanatory data. The sustainability report has scope to be creative, passionate and unique to the spirit of each company. The worst thing that could happen to sustainability reporting would be to depress its spirit by contraining it to financial reporting regulations and frameworks. I fully agree that materialilty should link to financial performance and this can be reflected in the sustainability report. Actually I just yesterday sent some feedback to Deloitte (didnt get a response yet). They have , amidst big fanfare, issued their first sustainabiltiy report. It is not GRI referenced or indexed, follows no known reporting framework, extremely light on data , omits material issues and reads like a marketing brochure. I was astounded that a business of this stature who does actually behave in a highly responsible way, by all accounts, should produce a report of such little depth, when the level of professional reporting worldwide has advanced so greatly over the past few years. Anyway, i think im a rambling, as you can see, i have a passion for reporting (it's my profession) and am always happy to engage in the debate. I am also a certified Assurance provider, and clearly support the need for external assurance, not only to check the data, but to ensure the reporting company is clear on the reporting expectations around materiality and bad news issues as well as good news. Thanks for raising these issues. elaine social business consultant potential one, israel, www.potential-one.com hi, whilst the combination of financial and non-financials into one report sounds like a nice easy compact way to present all stakeholders with one comprehensive information pack, I tend to think this is not the way to go. Annual financial reports and sustainability reports are produced for different audiences, thought there is of course overlap. The nature of the reports are entirely different – financials being constrained by legaleze and accountanteze and long lists of numbers who all but the most competent of financial analysts have no idea what or why they are there. Sustainability reporting is about the other purpose – the things the company does other than make and money (to use Cristine Arena’s core question). Its the story of how the Company interacts and impacts on stakeholders, backed up with sets of pertinent and explanatory data. The sustainability report has scope to be creative, passionate and unique to the spirit of each company. The worst thing that could happen to sustainability reporting would be to depress its spirit by contraining it to financial reporting regulations and frameworks. I fully agree that materialilty should link to financial performance and this can be reflected in the sustainability report.
Actually I just yesterday sent some feedback to Deloitte (didnt get a response yet). They have , amidst big fanfare, issued their first sustainabiltiy report. It is not GRI referenced or indexed, follows no known reporting framework, extremely light on data , omits material issues and reads like a marketing brochure. I was astounded that a business of this stature who does actually behave in a highly responsible way, by all accounts, should produce a report of such little depth, when the level of professional reporting worldwide has advanced so greatly over the past few years.

Anyway, i think im a rambling, as you can see, i have a passion for reporting (it’s my profession) and am always happy to engage in the debate. I am also a certified Assurance provider, and clearly support the need for external assurance, not only to check the data, but to ensure the reporting company is clear on the reporting expectations around materiality and bad news issues as well as good news.

Thanks for raising these issues.

elaine
social business consultant
potential one, israel, http://www.potential-one.com

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