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TETROSE: Your new sustainability report
Transcript of TETROSE: Your new sustainability report
LET'S SET SOME
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
Formed in 1997
Promotes sustainability reporting in companies
Suitable for all companies
5 Steps to sustainable reporting:
Triple Bottom Line Reports
Coined in 1994 by John Elkington
Preparing 3 different bottom lines
Full cost involved of doing business
“What you measure is what you get because what you measure is what you are likely to pay attention to” (The Economist, 2009)
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
Can reduce costs
Negatives of GRI
Opportunity cost of doing this
Compliance vs Conviction
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
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
Implementing through compliance
Initial start up cost
Negatives of Connected Reporting
Current Reporting at Tetrose
Not as comprehensive as it could be:
- Supply chain
- Stakeholder engagement
Let's help you change that...
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
Materiality and conciseness
Reliability and completeness
Consistency and comparability
Positives of Integrated Reporting
Negatives of Integrated Reporting
What are your Competitors doing?
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?
To reach concrete targets and robust measurement
Ethical trading initiative
Meet reporting requirements
How is this benefiting your competitors?
Boost companies reputation
Increase financial performance
Increase efficiency and waste reduction
Improve access to capital
Who else are they engaging with?
WHAT DO WE SUGGEST?
Let's tell you what you need to do...
Remember your SUPPLY CHAIN!
DISTRIBUTER AND RETAILER
Environment friendly store
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?
A little case study into Sainsbury's Reporting:
Sainsbury's are one of the market leaders within the Supermarket industry.
Are clear, concise and transparent.
Incorporate aligned goals and strategic methods. . Include a
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
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
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.
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.
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)
Social and Relationship
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.