Sustainability Reporting Assurance - What is Sustainability Reporting Assurance ?

-Sustainability means continuity in common sense approach, in business sense you may like question whether the business you are in today will naturally live or die.

-Reporting is about informing and disclosing information to the stakeholders, shareholders and other interested parties as it may ne deemed necessary.

-Assurance means the correctness and truthfulness of the data and information

  

Sustainability reporting has become important in view globalization of business and protecting the interest of its shareholders and stakeholders and keeping them informed about social, environmental and business performance. This has largely become important due to the fast depleting natural resources and protecting the rights of future generations of all living.

 

What is ‘(corporate) social responsibility’

There is a wide range of names being used to refer to ‘(corporate) social responsibility’, such as sustainable business, sustainable development, corporate accountability, ethical sourcing or ethical supply chain management, value chain management and good corporate citizenship.

 

What are the international standards or best practices to prepare sustainability Reporting?

·         ISO 26000 is an international standards par excellence and acceptable worldwide, The standard refers to  seven principles which are :

·         Accountability for the organisation’s impacts on society and the environment;

·         Transparency in the organisation’s decisions and activities that have impact on

·         society and the environment;

·         Ethical behaviour at all times;

·         Respect, consider and respond to the interests of the organisation’s stakeholders (e.g. employees);

·         Accept that respect for the rule of law is mandatory;

·         Respect international norms of behaviour, while adhering to the principle of respect for the rule of law; and

·         Respect human rights and recognise both their importance and their universality.

 

 

 

And further core subject

Seven core subjects

After recognising the seven principles, an organisation should address the following core subjects in order to identify the issues and priorities that are relevant for the organisation:

·         Organisational governance;

·         Human rights;

·         Labour practices;

·         Environment;

·         Fair operating practices;

·         Consumer issues; and

·         Community involvement and development.