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TETROSE: Your new sustainability report

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isra hawa

on 10 January 2014

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Transcript of TETROSE: Your new sustainability report

: Your new sustainability report
LET'S SET SOME
AIMS
:
1) Go through your current reporting

2) Discuss some options and explain sustainability indices

3) Present our recommendation

4) Take you through some steps to implement it
GRI Reports
Formed in 1997

Promotes sustainability reporting in companies

Suitable for all companies

5 Steps to sustainable reporting:
Prepare
Connect
Define
Monitor
Report

Triple Bottom Line Reports
Coined in 1994 by John Elkington

Preparing 3 different bottom lines

People

Planet

Profit

Full cost involved of doing business

Fundamental principle?

“What you measure is what you get because what you measure is what you are likely to pay attention to” (The Economist, 2009)


Connected Reporting
Positives of TBL
The framework is project specific and flexibility

The scope and level of measurement determined by stakeholders

It is difficult to measure each of the three categories

The three lines are separate so that cannot easily be added up.

It could confuse the stakeholders

Negatives of TBL
Positives of GRI
Improved relationships and trust with stakeholders

Improved internal processes and systems

Improved vision and strategy

Competitive Advantage

Can reduce costs

Negatives of GRI
Costly

Takes time

Opportunity cost of doing this

Compliance vs Conviction

2007

Connected reporting framework and how to guide

Long term investor and executive management

Connection between all sections

Financial and non-financial performance

Concise, rounded and balanced

Overall performance

Positives of Connected Reporting
Reductions in waste and emissions

Raising the profile of a company

Awareness of own actions

Creates clear targets and goals

Gain consumers trust

Identify costs savings

Quantitative

Implementing through compliance

Time consuming

Initial start up cost

Negatives of Connected Reporting
Current Reporting at Tetrose
Not as comprehensive as it could be:

NEGLECTED
- Social
- Supply chain
- Stakeholder engagement

Let's help you change that...
OPTION 2
OPTION 1
OPTION 3
OPTION 4
Integrated Reporting
Developed by the IIRC in 2009:
A method to monetise environmental, social and governance impacts, in a clear, concise, consistent and comparable way.
IR encompasses various capitals used by a company and enhances the value creation process.
Main principles of IR:

Strategic focus and future orientation
Connectivity of information
Stakeholder responsiveness
Materiality and conciseness
Reliability and completeness
Consistency and comparability

Positives of Integrated Reporting
Negatives of Integrated Reporting
Indices
What are your Competitors doing?
S
ee employees and customers as active stakeholders
Collaborate with international, charity organisations and reporting standard bodies
Involve rating agencies
Produce a wide and recognise reporting
Incorporate report with business

Why are they doing this?
Transparency
To reach concrete targets and robust measurement
Ethical trading initiative
Meet reporting requirements

How is this benefiting your competitors?
Boost companies reputation

Social benefits

Increase financial performance

Increase efficiency and waste reduction

Risk management

Improve access to capital

Who else are they engaging with?
Charity organisations
Suppliers
International organisations

WHAT DO WE SUGGEST?
INTEGRATED REPORTING
Let's tell you what you need to do...
Remember your SUPPLY CHAIN!
PRODUCERS (FARMERS)
ENVIRONMENTAL ISSUES:
Food waste
Food security
Animal welfare
Natural resources

SOCIAL ISSUES:
Fair Pricing
PROCESSORS
ENVIRONMENTAL ISSUES:
Food waste
Package
Food security
Renewable energy
Pollution


SOCIAL ISSUES:
Labour issue
Working conditions
DISTRIBUTER AND RETAILER
ENVIRONMENTAL ISSUES:
Environment friendly store
Fuel consumption



SOCIAL ISSUES:
Labour issues
Employee training
CUSTOMER
ENVIRONMENTAL ISSUES:
Food waste
Recycle



Ensure that all parts of the supply chain are incorporated, from both an environmental and social view...

How to implement Integrated Reporting
Why Integrated Reporting?
SUMMARY
A little case study into Sainsbury's Reporting:

Sainsbury's are one of the market leaders within the Supermarket industry.

Their reports:
Are clear, concise and transparent.
Incorporate aligned goals and strategic methods. . Include a
20X20
VISION



Best for food and health
Sourcing with integrity
Respect for our environment
Making a positive difference to our community
Sainsbury's Goals and Promises
A great place to work
Benefits to investors
Improved strategy due to increased awareness of position
Competitive advantage
May lead to cost reductions
May lead to further positive publicity of a company.
May take some time to implement
May lead to increased costs initially
Allows you to tell your story in the best way possible.
Allows the company to see what works and what doesn't.
Helps to understand why you want to do it and what you want to achieve.
Allows you to be innovative and creative
Creates a support system, from the top (board/executive down)
TELL YOUR STORY ON YOUR OWN TERMS. TAKE CONTROL.

Create a strategic plan and work together on how to integrate your objectives
Decide as a company that this is what you want to do
Be clear on what you want to achieve and why.
Leave behind old mind set and traditional reporting
Working through the process – use best tech
Be concise
SOCIAL ISSUES:
Responsibility to society regarding health
Responsibility to provide adequate health information on packaging
Measure the performance of sustainability leaders:
Dow Jones Sustainability Index (DJSI)
Began in 1999, the first major sustainability index to be launched.
Tracks the performance of the top 10% of the 2500 largest companies in the world.
Selected based on criteria, such as:
Long-term economic, environmental and social performance.
Recently added: United Parcel Service and Bank of America.
Removed: Johnson & Johnson, HSBC and Bayer.
FTSE4Good
Launched in July 2001.
Challenge companies to become open and transparent regarding their business practices.
2011, the ESG (Enviro/social/Governance) ratings were introduced.
These measure a company's risk and performance characteristics.
Selected based on criteria: Environmental management, climate change, supply chain labour standards, human and labour rights, corporate governance and countering bribery.
References
The International IR Framework. Available at: http://www.theiirc.org/wp-content/uploads/2013/12/13-12-08-THE-INTERNATIONAL-IR-FRAMEWORK-2-1.pdf Accessed: 7.1.2014

ACCA Global Sustainability Insight. Available at:http://www2.accaglobal.com/pubs/general/activitiesx/library/sustainability/reporting_pubs/tech-tp-air2.pdf Accessed: 7.1.2014

Abeysekera, I. 2013. A template for integrated reporting. Journal of Intellectual Capital, 14 (2), pp. 227--245.

· Atos.net. 2013. Atos enters the Dow Jones Sustainability Index World. [online] Available at: http://atos.net/en-us/home/we-are/news/press-release/2013/pr-2013_11_12_01.html [Accessed: 8 Jan 2014].

· Djindexes.com. n.p. S&P Dow Jones Indices » Dow Jones Sustainability Indices » Overview. [online] Available at: http://www.djindexes.com/sustainability/ [Accessed: 8 Jan 2014].

· GreenBiz.com. 2013. Volkswagen, Panasonic stand out on Dow Jones Sustainability Index. [online] Available at: http://www.greenbiz.com/blog/2013/09/13/volkswagen-siemens-panasonic-sustainability-leaders [Accessed: 8 Jan 2014].

· The Economist. 2009. Triple bottom line. [online] Available at: http://www.economist.com/node/14301663 [Accessed: 8 Jan 2014].

· the Guardian. 2013. FTSE4Good Index Series: measuring environmental and social standards. [online] Available at: http://www.theguardian.com/sustainable-business/ftse-index-measuring-environmental-social-standards [Accessed: 8 Jan 2014].

accounting for sustainability. 2009. connected reporting. [online] Available at: http://www.accountingforsustainability.org/wp-content/uploads/2011/12/Connected-Reporting-A-practical-guide-with-worked-examples-17th-December-2009.pdf [Accessed: 30 Nov 2013].

accountingforsustainability. n.d. accounting for sustainability. [online] Available at: http://www.accountingforsustainability.org/wp-content/uploads/2011/10/Consolidated-Case-Study-FINAL.pdf [Accessed: 30 Nov 2013].

Accountingforsustainability.org. 2013. The Prince's Accounting for Sustainability Project | Integrated Reporting. [online] Available at: http://www.accountingforsustainability.org/connected-reporting [Accessed: 30 Nov 2013].

Corporate.aldi.co.uk. 2014. ALDI - Fairtrade. [online] Available at: https://corporate.aldi.co.uk/en/responsibility/suppliers/fairtrade/ [Accessed: 8 Jan 2014].

Globalreporting.org. 2014. Get Started. [online] Available at: https://www.globalreporting.org/reporting/get-started/Pages/default.aspx [Accessed: 8 Jan 2014].

IIRC. 2013. The International IR Framework. IR. [report].

Spar-strategy2sustain.com. 2014. SPAR Strategy 2 Sustain. [online] Available at: http://www.spar-strategy2sustain.com/climate.asp [Accessed: 8 Jan 2014].

Theiirc.org. 2013. The IIRC | INTEGRATED REPORTING. [online] Available at: http://www.theiirc.org/ [Accessed: 18 Nov 2013].

Triple Pundit: People, Planet, Profit. 2013. The World’s Most Sustainable Retailer? Marks & Spencer’s 2013 Plan A Report. [online] Available at: http://www.triplepundit.com/2013/06/marks-and-spencer-2013-plan-a-update/

Your.asda.com. 2014. Sustainability | Fairtrade & Organic. [online] Available at: http://your.asda.com/sustainability-fairtrade-and-organic [Accessed: 8 Jan 2014].

Sainsbury’s Annual Report, 2013. Available at: http://annualreport2013.j-sainsbury.co.uk/media/30869/sainsburys_ara.pdf (Accessed 08.01.2014)
Financial
Manufacture
Intellectual
Human
Social and Relationship
Natural
IIRC Pilot Programme Business Network
–Discuss and challenge developing technical material. Test applications and share learning experiences
Black Sun Database
– Reporting examples, aid your journey, illustrates emerging practices.

The International IR Framework, 2013.
Full transcript