9781118122365

Corporate Sustainability : Integrating Performance and Reporting

by ;
  • ISBN13:

    9781118122365

  • ISBN10:

    1118122364

  • Edition: 1st
  • Format: Hardcover
  • Copyright: 11/6/2012
  • Publisher: Wiley
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Summary

Invaluable guidance for complete integration of sustainability into reporting and performance management systems Global businesses are under close scrutiny from lawmakers, regulators, and their diverse stakeholders to focus on sustainability and accept responsibility for their multiple bottom line performance. Business Sustainability and Accountability examines business sustainability and accountability reporting and their integration into strategy, governance, risk assessment, performance management and the reporting process. This book also highlights how people, business and resources collaborate in a business sustainability and accountability model. Looks at business sustainability and accountability reporting and assurance and their incorporation into the reporting process Focuses on how the business sustainability and accountability model are impacted by the collaboration of people, business, and resources Presents laws, rules, regulations, standards and best practices relevant to business sustainability performance, reporting and assurance Organizations worldwide recognize the importance of all five EGSEE dimensions of sustainability performance and accountability reporting. However, how to actually assess sustainability risk, implement sustainability reporting, and obtain sustainability assurance remain a major challenge and best practices are evolving. Straightforward and comprehensive Business Sustainability and Accountability hits on all of the hottest topics around sustainability including multiple bottom line (EGSEE) performance and reporting, related financial and non-financial key performance indicators (KPIs), business social responsibility and environmental reporting.

Author Biography

ANN BROCKETT is the Americas Assurance Leader for Climate Change and Sustainability Services at Ernst & Young. Ms. Brockett serves a broad range of clients to identify and develop alternatives that address emerging risk areas and in providing financial and non-financial assurance services.

ZABIHOLLAH REZAEE is the Thompson-Hill Chair of Excellence and Professor of Accountancy at the University of Memphis. He served a two-year term on the Standing Advisory Group (SAG) of the Public Company Accounting Oversight Board (PCAOB).

Table of Contents

Preface

Acknowledgments

Chapter 1 Introduction to business sustainability and accountability reporting

Introduction

The Case for Sustainability

Current Status of Sustainability and Accountability

Drivers of Sustainability Initiatives and Practices

Best Practices of Sustainability Programs

Principles of Business Sustainability

Business Sustainability and Corporate Accountability Framework

Key performance Indicators

Emerging Issues in Sustainability Reporting

Promotion of Sustainability Development, Performance and Disclosures

Conclusion

Endnotes

Chapter 2 Brief History of Sustainability Reporting

Historical Perspectives

Recent Developments and Initiatives

Status of Business Sustainability and Sustainability Reporting and Assurance

Going Forward

Conclusions

Endnotes

Chapter 3 Business Sustainability and Accountability Initiatives, Reporting and Assurance

Multiple-Bottom-Line Dimensions of Business Sustainability

Usefulness of Sustainability Information

Sustainability Reporting Process

Sustainability Reporting in Action

Promotion of Sustainability Reporting

Mandatory versus Voluntary Sustainability Reports

Sustainability Assurance

Continuum of Assurance on Sustainability Information

Internal controls Relevant to Sustainability Performance

Sustainability Risk Management

Conclusion

Endnotes

Chapter 4 Sustainability, Corporations, Capital Markets and Global Economy

Global Economy and Financial Crisis

Capital Markets

Role of Corporations in Society

Sustainability Information Needs of Investors

Corporate Reporting

Recent Initiatives in Corporate Reporting

Web-Based Corporate Reporting

Predictive Business Analytics

Narrative Reporting

Governance, Risk Management and Compliance (GRC) Reporting

Sustainability Reporting

Conclusions

Endnotes

Chapter 5 Economic Vitality as Component of Sustainability

Introduction

Economic KPIs

Public Trust and Investor Confidence in Public Financial Information

INTERNAL CONTROL REPORTING

Internal Control Reporting Requirements

Benefits of Mandatory Internal Control Reporting

Internal Control over Business and Operations (ICBO)

Investment in Internal Control

INTEGRATED FINANCIAL AND INTERNAL CONTROL REPORTING

Conclusion

Endnotes

Chapter 6 Corporate Governance Dimension of Sustainability

Corporate Governance Definition

Drivers of Corporate Governance

Global Convergence in Corporate Governance

Sarbanes-Oxley Act of 2002

Dodd-Frank Act

The United Kingdom’s Financial Regulatory Framework

Listing standards related to Corporate Governance

Corporate Governance in the Post-crisis

Corporate Governance Functions

Board Committees

Managerial function

Compliance Function

Internal Audit function

Legal and financial advisory function

External audit function

Monitoring function

Proxy Voting for Sustainability

Corporate Governance KPIs

Corporate governance Emerging Issues and Challenges

6.14 Corporate Governance Reporting and Assurance

Conclusion

ENDNOTES

Chapter  7 The Social Dimension of Corporate sustainability

Introduction

Social Performance

SOCIAL KPI’s

CORPORATE SOCIAL RESPONSIBILITY (CSR)

International Organization for Standardization (ISO) 26000

Profit

People

Planet

CSR Issues

Globalization-related CSR

Employee-related CSR

Product and marketing-Related CSR

Supply Chain-related CSR

Stakeholder-related CSR

CSR and Financial Performance

CSR Performance Measurement

CSR PROGRAMS

COMPONENTS OF CSR

CSR REPORTING

Conclusion

Endnotes

Chapter 8 Ethical Dimension of   Sustainability

Business Ethics

Ethics and Law

Ethics KPIs

Workplace Ethics

Training and Ethics Education

Corporate Culture

Corporate Codes of Ethics Rules and Best Practices

Financial Reporting Integrity

Ethics Reporting

Conclusion

ENDNOTES

Chapter 9 The Environmental dimension of Sustainability Performance – Government Policy: Societal Forces and Environmental Management

Introduction

Emerging environmental issues

Environmental Key Performance Indicators

Environmental Protection Agency (EPA)

Climate Risk Disclosure

Global Environmental Initiatives and Regulations

Kyoto Protocol

The Kyoto mechanisms

Monitoring emission targets

European Union Emissions trading system (EU – ETS)

Carbon Reduction Commitment (CRC)

California Assembly Bill 32

Copenhagen Accord 2009

Montreal Protocol

The United Nations

The World Bank Carbon Finance Unit's (CFU)

Societal actors influencing corporate environmental behavior

World Wildlife Fund (WWF)

UN Global Compact

Clean Air Initiative

International Council for Local Environmental Initiatives (ICLEI)

Coalition for Environmentally Responsible Economies (CERES)

Interfaith Center on Corporate Responsibility (ICCR)

Investor Network on Climate Risk (INCR)

International Organization for Standardization (ISO)

ISO 50001

Environmental management systems

Environmental reporting

Environmental Assurance and Auditing

Conclusion

Endnotes

Chapter 10 Business Sustainability in Action, Global Initiatives and Emerging Issues

Introduction

Global Initiatives on Business Sustainability

United Nations Global Compact (UNGC)

Organization for Economic Co-operation and Development

Coalition for Environmentally Responsible Economies (Ceres)

Social Accountability International (SAI)

American Society for Quality

Global Reporting Initiative (GRI)

The International Integrated Reporting Committee (IIRC)

Relevance of ISO Standards to Business Sustainability

ISO 9000

ISO 14000

ISO 26000

ISO 31000

ISO 50001

Macro Sustainability Issues

GHG reporting trends

Water Management

Sustainability KPIs

Business Sustainability in Action

Emerging Issues in Sustainability

Conclusion

Endnotes

Chapter 11 Future of Business Sustainability, Sustainability Reporting and Assurance

Introduction

The Emergence of Business Sustainability

Sustainability Reporting

Importance of sustainability reporting

Guideline on Sustainability Reporting

Materiality and Sustainability Reporting

Role of Gatekeepers in Sustainability Reporting

The use of XBRL in Sustainability Reporting

Mandatory Sustainability Reporting

Sustainability Reporting in Action

Sustainability Assurance

Sustainability Assurance Guidance

Reasonable Versus Limited Assurance Engagements

Attestation and Direct Engagements

Content and Format of Sustainability Assurance Reports

Sustainability Risk Assessment

Sustainability Assurance and Internal Control

Emerging Trend in Sustainability Reporting

Sustainability Assurance in Action

Sustainability Database

Conclusion

Endnotes

About the Authors

Index

Rewards Program

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