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Corporate Sustainability Reporting - Study Group Members Status report
Project proposal – April 2008
Work commenced – October 2008
Estimated completion – December 2010
| Staff contact
John Tang, CA, MAcc
research.studies@cica.ca
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Project objective and terms of reference Sustainability reporting is about measuring, disclosing and being accountable for organizational performance having economic, environmental and social impacts. A diverse range of stakeholders, including investors, is now demanding transparency about the sustainability of corporate activities. In response, new global reporting standards are being developed — standards that can be used to provide assurance on matters such as the financial implications of climate change issues. Most companies are still in the start-up phase when it comes to sustainability reporting. They are trying to find their way in managing and reporting on corporate social responsibilities, which might mean something different for each company. The objective of this study is to provide practical guidance on corporate sustainability reporting. The terms of reference for this project are: - To identify the objectives of corporate sustainability reporting (also called corporate social responsibility) and the perceived information needs of stakeholders.
- To assess the costs/benefits of sustainability reporting, taking into consideration a company’s strategy for sustainability and stakeholder relations.
- To survey and summarize the research literature on corporate sustainability reporting including the evolution, current practices and regulatory requirements in Canada and internationally.
- To review existing frameworks (for example, the Global Reporting Initiative 2006 “G3” Sustainability Reporting Guidelines) used by companies in preparing sustainability reports, and by organizations, such as the CICA and ACCA, that issue awards for corporate sustainability reporting.
- To examine practices, directions and trends in sustainability reporting, highlighting factors that might enhance the usefulness and effectiveness of reporting to stakeholders.
- To provide recommendations on how to enhance sustainability reporting to stakeholders.
- To suggest ways in which both the CICA and the accounting profession in Canada might contribute to advancing the current state of sustainability reporting taking into consideration sustainability reporting initiatives by the Global Accounting Alliance.
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