Integrated Reporting and Sustainability（8）

ACCA P1考試：P1

2.4 Reporting Frameworks

Several frameworks of public disclosure and accountability have been developed to produce corporate "stand-alone" reports. These include, though are not limited to:

the Global Reporting Initiative (GRI);

the IFAC Sustainability Framework (see Illustration 5); and

the International Integrated Reporting Framework (see section 4).

Illustration 5 IFAC Sustainability Framework

"A web-based tool (published in January 2009) that targets professional accountants working in commerce, industry, the public sector, education and the not-for-profit sector who can influence the way organizations integrate sustainability into their objectives, strategies, management and definitions of success, now has a resources section related to climate change policy developments. Carbon disclosures, cap-and-trade, and green legislative initiatives are among the issues addressed by these new links."

The model highlights issues organisations must address to make sustainability an integral part of their business model.

Designed from four different perspectives—business strategy, internal management, financial investors and other stakeholders—the new

Sustainability Framework illustrates how a commitment to sustainability can help to further improve an organisation's products or services, motivate its people, lower its costs and enhance its reputation.

It challenges conventional ways of thinking on economic, social and environmental achievements and promotes the injection of sustainability leadership into the full management cycle, from making and executing strategic decisions to reporting on performance to all stakeholders.

Source: www.ifac.org/news-events/paib-enews-6

2.5 Global Reporting Initiative ("GRI")

GRI arose from the need to address the failure of the thencurrent governance structures and to respond to changes in the global economy.*

*The following websites provide useful reports to understand the concept of GRI and to see examples of sustainability reporting:

• www.globalreporting.org

• www.shell.com/sustainabilityreport

• www.vaisala.com/en/sustainability/Pages/default.aspx