Economic invisibility
The economic invisibility of nature was the theme for the 2011 Forum of The Prince’s Accounting for Sustainability Project (A4S). The excellent presentations by His Royal Highness The Prince of Wales, renowned investment manager Jeremy Grantham, and Puma’s Jochen Zeitz are available on the A4S website>>
Road to integrated reporting
KPMG has issued a new booklet on integrated reporting. The booklet covers the questions commonly asked about integrated reporting, the business case for reporting, and includes the South African experience of integrated reporting. Read more>>
Green lighting
Changing your light bulbs can save you a whack in costs and save on carbon emissions. To get the ins and outs of CFLs, LEDs and other trends in green lighting, read this opinion piece by Fred Mitchell. Read more>>
Investors lead the way
On September 20, 2011, an investor-led coalition with $1.6 trillion in assets called on United Nations' member states to require both listed and large unlisted companies to integrate sustainability information with their annual reports or explain why not. Aviva Investors' CEO Paul Abberley announced a "call to action" at the UN Private Sector Forum on Sustainable Energy for All, held alongside the General Assembly. To read the media release Click here >>
If not now, when?
Michael Krzus, the co-author of “One Report” , sets out his latest thoughts on integrated reporting in a new article “Integrated reporting: if not now when?” The article was first published in IRZ – Zeitschrift für Internationale Rechnungslegung 6/2011, p. 271-276, and is reproduced here by kind permission of the publishers C. H. Beck oHG, Munich, Germany (http://www.irz-online.de). To read the article click here >>
Free eBook on integrated reporting
"The Landscape of Integrated Reporting: Reflections and Next Steps" is a compilation of 64 articles by various authors. It offers a good insight into the current issues and challenges of integrated reporting. As Professor Bob Eccles of Harvard Business School says: “ It is a snap shot of the current state of integrated reporting that, to mix metaphors, puts a stake in the ground by which we can evaluate our collective progress over time". To download the free eBook click here >>
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Read blogs from Professor Mervyn King and Leigh Roberts on integrated reporting and sustainability issues |
Excellence in Corporate Reporting Awards 2011
Ernst & Young released the results of its annual awards in September 2011. The annual reports of South Africa’s top 100 companies and top 10 state-owned entities were rated on a mark plan that includes non-financial disclosures. To read the survey results click here >>
Who does what in sustainability reporting
For a comprehensive list of the voluntary and mandatory sustainability reporting guidelines in over 30 countries, take a look at KPMG’s latest “Carrots and Sticks” report. The report also covers international and national assurance standards. It outlines future trends in sustainability reporting, one of which is the move to integrated reporting.
>>Click here
KPMG International Survey of CR Reporting 2011
The KPMG International Survey of Corporate Responsibility Reporting 2011 confirms that corporate responsibility (CR) reporting has become the de facto law for business. It also highlights how companies are increasingly realizing that CR reporting is about more than just being a good corporate citizen; it drives innovation and promotes learning, which helps companies grow their business and increase their organization's value. >> Read more
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FEE issues guide on sustainability reporting frameworks
The Sustainability Group of the Federation of European Accountants (FEE) has issued a guide to commonly used sustainability reporting guidance documents when considering the identification and use of environmental, social and governance (ESG) indicators. The guidance documents selected by the FEE were based on relevance, involvement of European accountancy national institutions, international applicability, and range of technical observations at the international level. Due to a lack of consistency between the documents, FEE suggests a need to find a common methodology on how to use the various documents. In order to reduce the risk of missing material and relevant key performance indicators when deciding what information should be reported, FEE recommends an entity should use the following criteria: relevance, materiality, consistency and reliability. Read more>>
IFAC's new Sustainability Framework
The International Federation of Accountants (IFAC) has released an impressive new version of its Sustainability Framework. It's a guide to organisations on integrating sustainability. IFAC says that embracing sustainability and corporate responsibility from three perspectives—strategy, operations, and reporting—is critical to gaining the trust of stakeholders and the wider public, and ultimately ensuring sustainable value creation. The Framework provides a comprehensive view of some of the current best practices globally in each of the three areas, and is applicable to entities of all sizes and levels of complexity.
To download the Framework click here >>
Report environmental transgressions in South Africa to the Green Scorpions on 0800 205 005
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Need info on sustainability issues and research in SA?
The South African Risk and Vulnerability Atlas offers an up-to-date electronic database and information system. The site consolidates the latest research findings in aspects such as water, forests and biodiversity, as well as social dimensions like human health. The site is continuously updated with new national and international research. The site is the brainchild of the Department of Science & Technology - they hope it will bridge the divide between scientists and policy makers and business decision-makers. >>Read more
South Africa’s Responsible Investing Code
The final Code for Responsible Investing by Institutional Investors in South Africa was released in Johannesburg on Tuesday 19 July 2011. The Code seeks to encourage institutional investors and their service providers (asset, fund managers and consultants) to put in place measures aimed at ensuring responsible investing. The Code is voluntary on an “apply or explain” basis. The Code consists of five principles and related recommendations. This makes South Africa the second country after the UK to have a code for institutional investors.
To download the Code click here >>
To read the Finance Minister’s speech click here >>
Does the market really care?
An often asked question is whether or not investors ('the market') care about integrated reporting, and for that matter sustainability reporting. Author Michael Krzus says: The answer is increasingly "Yes, it does," but the data supporting this claim is all pretty high-level, such as growth in assets being managed by SRI funds and the increasing number of signatories to the UNPRI. Krzus, along with Curtis Ravenel of Bloomberg, Bob Eccles, George Serafeim (also of HBS), wrote a paper, "Market Interest in Nonfinancial Information," that analyzes particular metrics the market is looking at and discusses the implications for managers. The HBS Working Paper is available on this link .
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