» Three Thoughts on Apple and Insanely Great Brand Leadership
7/February/2012 10:21 from Sustainability
It’s hard to think about brand leadership without thinking about Apple, now neck-and-neck with ExxonMobil as the world’s biggest company by market cap. Last week, Apple was top of mind for many of us, with two major pieces of reporting: the UK release of Adam Lashinsky’s book, Inside Apple , which describes in part-admiring, part-unmerciful detail Apple’s tough organizational culture , and the New York Times’s excellent investigation into conditions in Apple’s supplier factories in China . This last piece spurred CEO Tim Cook to email his 63,000 employees as follows: “Some people are qu..
» Companies Get a Boost in Stock from Reporting Greenhouse Gas Info
6/February/2012 22:40 from GreenBiz.com
A new study suggests that companies that publish press releases on their carbon footprints -- and their efforts to shrink those footprints -- see a boost in share value in the days after announcements.
» Making Corporate Reports Relevant - A Call to Action
6/February/2012 14:32 from Corporate Reporting to Stakeholders
The Institute of Chartered Accountants of Scotland (ICAS) has a vision of corporate reporting that is simple: a readable and concise report that tells the story of the business – summarizing the key aspects of performance and prospects – with the detailed disclosures easily available from the company’s website. There is a growing dissatisfaction with a corporate reporting process viewed by many as an exercise in regulatory compliance. Often, stakeholders consider the preliminary results announcement and related presentations to be more relevant and useful than the full annual report. The refo..
» FEE Factsheet on Integrated Reporting – January 2012
4/February/2012 16:35 from Corporate Reporting to Stakeholders
The FEE ( Fédération des Experts-comptables Européens - Federation of European Accountants ) initially published a Factsheet on Integrated Reporting in January 2011, introducing the concept as an emerging approach to reporting by organizations. Since then, debates and developments around integrated reporting have grown and will continue. According to a recent FEE news release, “Integrated Reporting is seen as a major development in corporate reporting. FEE releases a factsheet explaining how integrated reporting differs from traditional reporting and highlighting some of the steps taken by th..
» Business reporting in this economic environment – communication is critical
31/January/2012 10:21 from Corporate Reporting blog
On Thursday 9 February I will be hosting a webcast to share our insights on reporting and accounting in today’s tough environment, explain what investors want to see in the annual report, and look ahead at what’s likely to change. We’ll also take a look at some of the critical issues that both audit committees and we, as auditors, are focusing on before we sign off annual reports. Headline-grabbing economic concerns in Europe are shaking market confidence. And the current after-shocks make it all the more critical that companies communicate clearly to their stakeholders about the impact event..
» The 6 Biggest Trends in Sustainability Reporting
30/January/2012 12:45 from GreenBiz.com
At the GreenBiz Forum in New York City, E&Y offered a preview of the results of a recent survey of trends in sustainability reporting from 24 different sectors.
» Why CFOs Should Care about Integrated Reporting
27/January/2012 20:06 from Corporate Reporting to Stakeholders
On November 15, 2011, the AICPA organized a roundtable discussion in California on behalf of the International Integrated Reporting Council (IIRC). Major investors, companies and other stakeholders had the opportunity to discuss the business case for integrated reporting, as well as the challenges in communicating the benefits. Why should CFOs care about integrated reporting? Because it’s about: 1. Communicating vs. Complying; 2. Reporting the Intangibles; 3. Breaking Down Silos; and 4. Increasing Transparency. To learn more, refer to the article “ 4 Reasons CFOs Should Care about I..
» Canada\'s GRI reporting in 2011 appears on par with 2010
27/January/2012 17:55 from Prizma
Although 2011 GRI reporting in the US seems to be trailing by nearly 30% from 2010, Canada’s numbers remain largely on par. But has push by government and PDAC been effective? Earlier this week, I reviewed a January 2012 GRI spreadsheet which listed sustainability reporters for North America. GRI had sent this spreadsheet to its Organizational [...]
» How Companies Can Meet the New Demand for Fair Play
26/January/2012 15:45 from Sustainability
“Fair” is in the current ether. There is the Occupy Movement, raising questions about the fundamental fiduciary responsibility of corporations and government, whether they are acting (or capable of acting) in the best interests of the public, and how to hold them accountable in any event. There is the ongoing Arab Spring, where another form of citizen power (itself a key inspiration for Occupy) has been challenging and overthrowing regimes across Africa and the Middle East, with emerging reflections and rebounds appearing globally, most recently in Moscow, where suddenly Vladimir ..
» GRI Publishes Sustainability Guidance for Event Organizers
26/January/2012 13:00 from SocialFunds.com
By Robert Kropp. Site selection and community impact are among the key issues for which reporting can enhance the accountability of event organizers, the Global Reporting Initiative says.
» Investors speak out on disclosure - Winning the competition for capital
25/January/2012 12:40 from Corporate Reporting blog
I thought I would share with you the attached \' Investor view - Winning the competition for capital \': as it makes for interesting reading. The document outlines key areas that investors would like to see entities disclose and the frustrations they have with current reporting. Our conversations with investment professionals tell us that entities that don’t make their cash and debt disclosures clear and accessible may find it more dif..
» Has GRI Reporting declined by up to 30% in US?
25/January/2012 03:12 from Prizma
Hiding in plain sight: the (incomplete, Jan 2012) numbers of GRI reporters show a nearly 30% decline from 2010 to 2011. And GRI started counting non-GRI reporters. I used to love GRI’s old global reporting spreadsheet. It included a listing of GRI-type reports which came to the attention of GRI. CSR nerds like me were able [...]
» Streamlining the annual report – Losing the excess baggage
23/January/2012 11:04 from Corporate Reporting blog
As we settle back into the reality of January and start to break those well intentioned New Year resolutions, what was planned to be significant change often resorts back to how life used to be. Oh well there’s always next year! Corporate reporting however, unlike many of our resolutions, is experiencing a period of significant change. The demand for change is being driven by various parties fed up with the loss of key messages in lengthy reports that are hard to navigate and that contain immaterial or repetitive disclosures. The FRC report “Cutting Clutter” hits the nail on..
» CPAs help companies measure sustainability
19/January/2012 11:48 from Yahoo! News - Search Results for reporting sustainability environmental social responsibility
In addition to calculating financial information, accountants are compiling and verifying a wide range of environmental and social responsibility data. Even if U.S. regulators don’t require reporting regarding carbon footprints, diversity or green initiatives, more firms are rolling out reports with this information. And they’re turning to accounting firms’ consulting practices – from KPMG to ...
» Which Big Three carmaker wins on low-carbon growth?
18/January/2012 00:00 from Trucost Blog
Sales of light vehicles to U.S. consumers were up 10% in 2011 compared to the previous year . Revenues are growing, but which U.S. carmaker is winning the carbon race? Last year marked the second year of steady expansion for the top three U.S. car firms - General Motors (GM), Ford and Chrysler - after a severe downturn during the global crisis in 2008. The U.S. car industry seems to be on a steady path to recovery, helped by President Obama\'s financial stimulus . GM is in pole position on sales, reporting 234,351 vehicles sold last month , 12% more than Ford and 70% more than Chrysler . The b..
» The state of Green Business 2012
18/January/2012 00:00 from Trucost Blog
Joel Makower, chairman and executive editor of GreenBiz Group comments on the fifth State of Green Business report. Trucost supported the report by contributing data on corporate environmental performance and disclosure. Our 2012 State of Green Business report , our fifth annual, has just been published. I\'m not going to mince words: Things aren\'t going as well as we\'d hoped. For the first time since we began doing our assessment, in 2008, several of the indicators have taken a downward turn. Each year, we take the pulse of sustainable business through the lens o..
» AICPA Encourages IIRC to Leverage Enhanced Business Reporting Framework
17/January/2012 20:20 from Corporate Reporting to Stakeholders
In a December 14, 2011 comment letter to the International Integrated Reporting Council on its discussion paper, Towards Integrated Reporting: Communicating Value in the 21st Century , the American Institute of Certified Public Accountants (AICPA) supported an international framework for integrated reporting and encouraged the IIRC to leverage the preliminary, high level Enhanced Business Reporting Framework. The letter states that: “We agree that there is a need for a new reporting model that brings together the currently disparate pieces and perspectives of business reporting to produce a m..
» Barb Brown to speak at NIRI Cleveland & Society of Corporate Secretaries luncheon
17/January/2012 20:17 from SustainGenuity™
Barb Brown, Principal & Co-owner of BrownFlynn, will speak at this event on February 9 at noon at The Union Club of Cleveland . Her presentation, “Sustainability Reporting and the Investment Community: Basics, Benefits and Trends”, will discuss the trends in non-financial reporting and what they mean to the investment community. Barb will cover: Basics and benefits of sustainability reporting Environmental, social and governance (ESG) ratings and rankings Advantages of different sustainability reporting frameworks such as the Global Reporting Initiative (GRI) and the Carbon Disclo..
» Canada’s Corporate Reporting Awards program celebrates 60 years of excellence
11/January/2012 19:31 from Corporate Reporting to Stakeholders
For 60 years, the CRA has been Canada’s only national program shining a spotlight on Canada’s best corporate reporting models. The program offers publicly-listed companies, and now federal and provincial Crown corporations, a unique opportunity to showcase their commitment to quality corporate reporting. Entrants demonstrate confidence in their reports by submitting them to an independent panel of judges, who are experts in their respective areas. Fifteen Canadian publicly-listed companies and Crown corporations were recently honoured in Toronto at a gala event that marked the diamond anniver..
» Some FTSE 350 firms unprepared for mandatory carbon reporting
11/January/2012 00:00 from Trucost Blog
The UK Government will soon decide whether to make greenhouse gas emissions reporting mandatory in annual reports. Several high emitting FTSE 350 companies will need to improve the accuracy and transparency of their reporting. The Climate Change Act 2008 requires the UK Government to make regulations under the Companies Act 2006 by 6 April to require directors\' reports to include information about greenhouse gas emissions, or explain why it hasn\'t done so. The Government\'s voluntary greenhouse gas (GHG) reporting guidelines advise companies to disclose emissions from operations (Scope 1..
» Getting Off the Couch
5/January/2012 23:12 from The Murninghan Post
The TakeAway: Last year we became conscious of the breakdown in public trust and its civic moral and economic consequences — and what average people can do to make a difference. This year more of us will get off the couch and work to refuel the engines of democracy and capitalism, of liberty and prosperity, to promote community well being, for decades to come. Here’s the beginning of a series on how. “2011 set the table. 2012 has the potential to accelerate the ‘revolution’ toward the new corporation agenda,” Allen White wrote to a group of us the day after New Year’s. “Growing wealth dispar..
» Where\'s the compass for 2012 – what about Zero Impact Growth?
24/December/2011 14:11 from A|HEAD|ahead
It\'s been more than half a year since I last posted a blog on A|HEAD|ahead. I simply wanted to take a break because I wanted to observe for a while and not add to the wave of guessing about what all the incidents and movements that happened in the world (and in parallel) really meant. I had the idea that we seemed to have reached a crucial turning point for some of the most urging questions in our economic, environmental and social agenda. But have we? So, what has happened in the last 6-12 months if you take a look at it from a sustainability perspective? Undoubtedly, too much went into the..
» Michigan State provides roadmap for higher education on supply chain Sustainability
17/December/2011 00:00 from Trucost Blog
Interest in sustainability has experienced exponential growth within academic institutions and GreenBiz.com has run a series of articles highlighting this including recently here Universities Commit to Billion-Dollar Energy Efficiency Investments . Such activities are increasing across university operations, developing educational curriculum to support booming demand for environmental course work and degrees, and increasingly also a focus on the environmental exposure of higher education organizations across their supply chains. Highlighting this developing interest, this January, in pe..
» BHP MOZAL Smelter Back for OECD MNE Review
28/November/2011 18:24 from Prizma
OECD Watch reports that UK National Contact Point for OECD Guidelines for Multinational Enterprises re-initiates BHP Billiton Mozambique Mozal bypass case after IFC Compliance Advisor Ombudsman fails to resolve the issue. In late 2010, a coalition of NGOs had lodged complaints about BHP’s Mozal aluminum smelter with the Johannesburg Stock Exchange (JSE) SRI Index, the IFC’s Compliance/Advisory Ombudsman (CAO) and OECD National Focal Points in Australia and the UK. The case involved a planned bypass that would allow the MOZAL aluminum smelter to operate without exhaust treatment for a period ..
» Global Companies to Lead Unique Integrated Reporting Pilot Program
23/November/2011 19:25 from Corporate Reporting to Stakeholders
The International Integrated Reporting Committee (IIRC) has announced that over 40 leading companies from around the world have been chosen as participants in the IIRC Pilot Programme initiative and the number is growing. These global companies, representing various sectors and industries, met for a two day kick-off event in Rotterdam on October 17-18, 2011. This marked the beginning of a two year journey with the IIRC where they will be given the opportunity to demonstrate global leadership in this emerging approach to corporate reporting. The full list of participating companies is availabl..
» Academic Study Shows Investor Acceptance of XBRL Technology
22/November/2011 21:43 from Corporate Reporting to Stakeholders
A group of academics studying XBRL acceptance have determined that investors are warming up to using XBRL-enabled technology to do their research and make investment decisions. In their study of the effects of exclusive technology choice on the analysis of financial information, a trio of accounting professors found that 66% of non-professional investors chose XBRL-enabled technology to complete a financial analysis task because they perceived it would reduce the time it would take for them to complete the task. The 34% of nonprofessional investors who chose spreadsheets over XBRL-enabled tec..
» KPMG International Survey of Corporate Responsibility Reporting 2011
21/November/2011 22:18 from Corporate Reporting to Stakeholders
According to a recent KPMG survey , leading companies have combined their Corporate Social Responsibility (CSR) reporting and financial reporting, often by merging the two into the annual report. While this has been a valuable stepping stone in building an understanding of how CSR impacts the business, greater value will be gained once both sets of information are treated as part of the company’s comprehensive business performance reporting, both to internal management and external stakeholders. Companies are also quickly evolving the method by which they communicate their CSR information to ..
» CICA seminar on integrated reporting features Robert Herz
20/November/2011 18:12 from Corporate Reporting to Stakeholders
Robert Herz, the recently retired chair of the US Financial Accounting Standards Board (FASB), will be in Toronto, Canada on November 23, 2011, for a breakfast seminar. At the seminar, organized by the Canadian Institute of Chartered Accountants (CICA), Mr. Herz will review the proposals outlined in a Discussion Paper, Towards Integrated Reporting – Communicating Value in the 21st Century . The Paper was published on September 12, 2011, by the International Integrated Reporting Committee (IIRC) with a call for comments by December 14, 2011. The IIRC was established in August 2010 by the Princ..
» US launched Public-Private Alliance for Responsible Minerals Trade
15/November/2011 21:16 from Prizma
The Public-Private Alliance for Responsible Minerals Trade was launched today to promote conflict-fee mineral supply chains in Eastern Congo and the Great Lakes Region of Africa. Will it help resolve conflict minerals related due diligence and reporting concerns of major brands? The goal of this multi-sector initiative is to leverage and promote conflict-free supply chains for so called ‘conflict minerals’ like tin, tantalum and tungsten sourced from Eastern Congo and the Great Lakes region of Africa. This initiative involves a broad range of stakeholders and is expected to harmonize and st..
» Corporate reporting - From compliance to competitive edge
2/November/2011 12:50 from Corporate Reporting to Stakeholders
Today’s business information and reporting is under fire from companies, investors, government and regulators alike. In response, PricewaterhouseCoopers (PwC) has published a paper called \" Corporate reporting - From Compliance to Competitive Edge \" which explains why today\'s business information and reporting is falling short, what\'s driving change, where insight is missing and how companies can take action. This report incorporates some of the findings from the PwC annual survey of the quality of FTSE 350 reporting. (For more information on recent developments, visit the PwC corporate repor..
» What makes a good annual report?
25/October/2011 15:48 from Corporate Reporting to Stakeholders
What’s the secret for a good annual report? It usually boils down to keeping things simple, but keeping them simple these days is a challenge. Rising demands for more disclosure and the integration of sustainability reporting are factors making annual reports ever longer and more complex. Unfortunately, too many annual reports are choked with low-quality information, disconnected content and boilerplate, all of which obscures key messages. Clear, crisp communication, on the other hand, is a sign of strong leadership. It’s also an opportunity to improve engagement and dialogue with stakeholder..
» Amsterdam Roundtable on Integrated Reporting
13/October/2011 14:47 from Corporate Reporting to Stakeholders
An Executive Roundtable on Integrated Reporting was recently organized by the International Integrated Reporting Committee (IIRC) and Duisenberg School of Finance in Amsterdam. It was one of a series of roundtables hosted around the world to encourage the exchange of views on Integrated Reporting among leaders in business, investment, civil society, accounting and the standard setting community. The focus was on the Integrated Reporting Discussion Paper, Towards Integrated Reporting – Communicating Value in the 21st Century , which was launched on September 12, 2011. It was noted that In..
» Integrated Reporting: Performance insight through Better Business Reporting
29/September/2011 13:05 from Corporate Reporting to Stakeholders
KPMG has issued the first edition of the publication Integrated Reporting: Performance insight through Better Business Reporting . It focuses on the challenge of providing better corporate reporting. Many who read this may not be familiar with the topic but, with the publication by the International Integrated Reporting Committee (IIRC) of its Discussion Paper , it is likely to receive more attention in the future. In the past, KPMG has looked at this as “Better Business Reporting” which captures the essence of the subject. The first edition provides some background on Integrated Reporting wi..
» XBRL International Conference – October 2011
27/September/2011 13:08 from Corporate Reporting to Stakeholders
XBRL (eXtensible Business Reporting Language) is transforming business reporting. Does your company seek recognition as a thought leader on XBRL? If you have business interests or plans for business development, do not miss this opportunity to take the stage! The 23rd XBRL International Conference: \" XBRL23: Enhancing Business Performance \" is produced by XBRL International, Inc. and hosted by XBRL Canada. The Conference will be held on October 25-27, 2011 at Le Centre Sheraton, Montreal, Canada. XBRL is an XML-based, royalty-free, open standard for business reporting. XBRL was develop..
» The World is Changing – Reporting Must Too
15/September/2011 14:23 from Corporate Reporting to Stakeholders
The Integrated Reporting Discussion Paper, Towards Integrated Reporting – Communicating Value in the 21st Century was launched on September 12, 2011. It is available for reading online and as a PDF document . The Paper considers the rationale for Integrated Reporting, offering initial proposals for the development of an International Integrated Reporting Framework and outlining the next steps towards its creation and adoption. Its purpose is to prompt input from all those with a stake in improved reporting, including producers and users of reports. The International Integrate..
» Song of Sorrow or Call to Arms? Four Stratagems to Improve Our Politics
12/August/2011 22:29 from The Murninghan Post
The TakeAway: While extremist politics dominate Washington, financial markets continue to seize, and US credit-worthiness takes a beating, advocates of sustainability and good governance need to stop moping and get off the bench. Here are four stratagems to reverse the tide: educate and engage a broader public, hold political candidates accountable, and support Bob Massie for U.S. Senate . What a week this was: in the face of a double-dip recession, the Dow exhibits bipolar behavior, its wild volatility (including the worst trading days since September 2008) an apparent reaction to last Frida..
» Implications of XBRL on Audit firms
25/July/2011 08:50 from Random Comments
The growing requirement for companies to produce financial statements in the XBRL format is now beginning to impact auditing firms. Audit firms need to plan for the coming wave of additional effort required to provide assurance over XBRL documents, and need to be building the cadres of skilled individuals who will provide such support to audit teams. The phase-in periods are quite different by jurisdiction, as is the expected total additional effort. Audit and assurance firms should be exploring the potential impact and planning exactly when and how they will build the skills and acquire the ..
» The Sustainability Ratings Industrial Complex: Breaking the Hold
6/July/2011 21:51 from The Murninghan Post
The TakeAway: The recent launch of the Global Initiative for Sustainability Ratings seeks to bring some order, quality, and accountability to the diverse and booming growth industry of sustainability ratings and rankings—also a topic of the online “SustyChat3” among experts, occurring this week on the OpenEyeWorld platform. Today we celebrate another “movement milestone”, one of several occurring during the month of June: the long-awaited launch of the Global Initiative for Sustainability Ratings ( GISR ), announced at a Washington, D.C. briefing held June 9 th by the nonprofit groups ..
» XBRL and Banking - the coming boom
4/July/2011 07:19 from Random Comments
Why am I so positive and hopeful (no - expectant) about banks using XBRL for credit analysis, and the Dutch are leading the way. The coming deluge of filing in the US, with an additional 8000+ companies financial statements being available in XBRL, will have two very real impact in relation to banking and XBRL. 1. No smaller accounting or financial reporting software will be able to \'ignore\' XBRL, and I fully expect XBRL to be a standard output format for all within the next two years. 2. There will be a steady flow of new applications to analyse the information, with some of those applicatio..
» Human Rights: A Moral and Material Business Concern
30/June/2011 22:08 from The Murninghan Post
The TakeAway: Several sustainability milestones were reached in June, but the greatest of these was the UN Human Rights Council endorsement of the Guiding Principles for Business and Human Rights , which established human rights as both a moral and material consideration for economic enterprise. It’s the end of June, and time to break out the sunscreen and flip-flops. Before sipping those sangrias, we thought it worth reviewing the major milestones occurring this month, which advance sustainability and justice. Among the markers are those involving human rights ; sustainability impact ; inte..