Global Reporting Initiative - G3.1 Sustainability Reporting Guidelines

The Global Reporting Initiative (GRI) has released guidelines that it describes as the most comprehensive sustainability reporting guidance now available. The G3.1 Sustainability Reporting Guidelines feature expanded guidance on issues including local community impacts, human rights and gender, as well as environmental, product responsibility, labor, governance and other existing GRI categories. GRI is also launching guidance to help companies determine what to measure and report on. The organization says that this publication, Technical Protocol – Apply the Report Content Principles, will allow companies to produce relevant reports more easily.

CICA Conference on Environmental, Social and Governance Issues

Environmental, social and related governance (ESG) issues are emerging as increasingly critical issues for the development of sustainable businesses in Canada and around the world. As a result, there are new risks, opportunities and strategies for which corporate leaders, senior management and business advisors must prepare. The Conference on Environmental, Social and Governance Issues will be held on December 6-7, 2010 at the Renaissance Toronto. It will focus on the most relevant and timely topics. Corporate leaders and experts will share their valuable insights and perspectives on what you need to know to respond to emerging expectations from investors, rating agencies, banks and other key stakeholders.

Canadian Securities Administrators (CSA) - Environmental Reporting Guidance

The Canadian Institute of Chartered Accountants (CICA) commends Canada’s securities regulators for publishing additional guidance to help reporting issuers meet existing environmental disclosure requirements. The aim of the Canadian Securities Administrators (CSA) Staff Notice 51-333 on Environmental Reporting Guidance is to assist issuers in assessing which information must be disclosed on environmental matters, such as risks related to weather patterns or environmental legislation. (Read the CICA Media Release.)

PwC - CSR TRENDS 2010

CSR Trends 2010 is the fourth comprehensive survey of corporate social responsibility reporting trends, benchmarks and best practices. This research was conducted jointly by PricewaterhouseCoopers’ Sustainable Business Solutions practice and Craib Design & Communications, a group of communications consultants with decades of experience in corporate and investor communications. This report is divided into five chapters: Focus; Credibility; Context; Performance; and Accessibility.

Carbon Management: Critical Issues For Strategic Finance

In September 2010, the Canadian Financial Executives Research Foundation (CFERF) issued a report on Carbon Management: Critical Issues For Strategic Finance. It covers a survey of senior finance executives from public and private companies and obtains insights through an executive research forum. The study revealed increased board participation in carbon management and reporting. The level of board involvement is reportedly higher in heavy-carbon emitting firms, where 25% reported that board involvement resulted in the development of a structured emissions management and reporting plan. The study also found that the statutory and regulatory actions taking shape in Canada have the potential to significantly impact the operations of Canadian organizations. In fact, 33% of heavy emitting companies surveyed said they expect the legislation to influence shareholders’ demands for improved carbon management and reporting. While the strategic impact of carbon use on the overall sustainability of organizations seems to be well established across the business community, 54% of public companies surveyed were not at all familiar with Ontario Securities Commission regulations that relate to carbon emissions.

Sustainability in Business Today

A recent study by Deloitte surveyed leading executives across five industry sectors: automotive, consumer products, process and industrial, technology and telecommunications. The objective was to paint a general picture of sustainability activity and to gather their views on several sustainability-related issues, including the way they define sustainability and their speculations on the future of sustainability in business. The vast majority reported that their sustainability priorities were at least partially aligned with their companies’ priorities. Two-thirds indicated that sustainability would have an impact on their overall business model. Read the June 2010 Deloitte study Sustainability in Business Today: A Cross-Industry View.

Environmental, Social and Governance (ESG) Issues in Institutional Investor Decision Making

The Canadian Institute of Chartered Accountants (CICA) has released a Discussion Brief titled “Environmental, Social and Governance (ESG) Issues in Institutional Investor Decision Making.” The brief discusses the findings of interviews with institutional investors and reviews current market and regulatory trends and existing regulatory requirements related to environmental, social and governance issues. It also presents options for improving the provision and use of ESG disclosure for investor decision making.

Business Redefined: Global Trends that are Changing the World of Business

In 2010 Ernst & Young published a report called Business redefined: a look at the global trends that are changing the world of business. It provides an in-depth look at the six most influential trends that will redefine business success, highlighting the key questions that business leaders should be asking themselves right now. The way that business leaders plan for — and respond to — these trends over the next decade will help determine who the market leading companies of tomorrow will be. The report highlights six key trends: 1. the rise of emerging markets; 2. increasing focus on resource efficiency and climate change; 3. the transformed financial landscape; 4. increased role of government in the private sector; 5. the next evolution of technology; 6. fostering a global workforce in dynamic times.

Carrots and Sticks – Promoting Transparency and Sustainability

KPMG recently published a report Carrots and Sticks – Promoting Transparency and Sustainability: An update on trends in Voluntary and Mandatory Approaches to Sustainability Reporting. The study covered 30 countries, including both developed and developing world economies. It revealed that a total of 142 country standards have been developed related to sustainability reporting. Of these reporting standards, 65% are mandatory and 35% are voluntary. In addition, 14 assurance standards have been developed for sustainability reporting.

Dissecting the next decade of the new millenium

After the decade of relative peace and prosperity that was the ’90s,expectations were that the good times would carry on into the new millennium. Few could have predicted how different the reality would be: the worst terrorist attack in history, two draining US-led wars that continue today, US$150-a-barrel oil and the near-collapse of the international financial system, which led to a worldwide recession we are just now crawling out of. What are the big concerns confronting Canadian business in the next 10 years? Eight business leaders share their thoughts? (Read the article Dissecting the decade in the April 2010 issue of CA magazine online.)

Views on environmental regulation, legislation and taxes

A recent survey by PricewaterhouseCoopers (PwC) provides insight into the views of the international business community on environmental regulation, legislation and taxes. In almost 700 interviews, conducted in 15 countries including Canada, executives shared their perspectives on the impact of climate change; the role of government in protecting the environment; their preferred environmental policy tools; and the ingredients they see as necessary for a global climate change deal. (Read the PwC publication Appetite for Change.)

Good intentions towards corporate social responsibility

When the going gets tough, costly good intentions can go out the window. Company spending has been squeezed by the global recession and budgets for corporate social responsibility (CSR) have suffered disproportionately. A survey of UK businesses by KPMG and Business In The Community found a third of companies cut their corporate social responsibility budgets in 2009. Corporate philanthropy has also been hit, with a study by the Giving USA Foundation revealing that charitable donations by US companies fell by 8% in inflation-adjusted terms in 2008. (Read the article Good Intentions in the Wall Street Journal online.)

Report highlights sustainability reporting trends

A new CSR Insight Report examines various trends in sustainability reporting. Such reporting, for example, has been slower to evolve in the United States than in European countries. In addition, it remains a voluntary practice in most of the world. (Read the article 10 Trends in Sustainability Reporting at Environmental Leader online.)

Investors: Climate-change policies and disclosures needed

Investor groups representing $13 trillion in assets are calling on governments to adopt strong national climate policies that could trigger the flows of private capital needed to build a low-carbon global economy. The groups also are pushing for mandatory disclosure in public company filings of material climate-related risks and the programs in place to manage those risks. The American Institute of Certified Public Accountants (AICPA) has an initiative to participate in the development of universally accepted accounting and reporting standards for sustainable activities and risks that meet the needs of investors and businesses. (Read the article Investor Groups Call for Climate Change Policies and Disclosures at Journal of Accountancy online.)

SEC Comes Clean on Climate Disclosures

New guidance from the US Securities and Exchange Commission (SEC) will prompt companies to reexamine how they explain the effects of climate change on their business in regulatory filings. The clarification from the regulator arrives just as companies with a calendar year-end are putting together their 10-Ks. Investor groups have been critical of companies for their lack of candor about climate-change risk, and of the SEC for allowing them to get away with it. (Read the SEC Press Release and the article SEC Comes Clean on Climate Disclosures at CFO.com.)

CO2 Pact Leaves Businesses Feeling Up in the Air

The agreement achieved at the Copenhagen climate summit leaves business leaders around the world close to where they began, facing uncertainty about how environmental policy will affect their costs and decisions about investments. Companies around the world had hoped the United Nations-sponsored talks would bring clarity on the new rules of the game in a new low-carbon world. They have had to think again. (Read the article CO2 Pact Leaves Businesses Feeling Up in the Air in the Wall Street Journal online.)

Canada - The business of climate change

Climate change is a global business issue of unprecedented significance, affecting entities of all sizes in all sectors. Unlike the recent recession and financial crisis, from which most economies will gradually recover in time, climate change as a formidable business issue is here to stay. It is multidimensional, evolving and complex, presenting new aspects and challenges as time goes by. Risks related to climate change may be physical, regulatory, reputational or legal. Some companies face mitigation risks related to their obligations and expectations about reducing their emissions of greenhouse gases (GHG). The risks faced by others may be related more to the impact of climate change on their business operations and the need to adapt accordingly. Companies’ effectiveness in identifying and addressing climate change risks (and opportunities) and their implications for business strategy is itself an important and distinguishing competitiveness factor. (Read the articles on The business of climate change and Toward the Green Deal in the December 2009 CAmagazine online.)

Global sustainability survey 2009

According to The Sustainability Survey 2009 by SustainAbility/GlobeScan, addressing climate change requires both government and corporate leadership. Failure to reach global agreement in Copenhagen in December 2009 is expected to severely increase the likelihood of catastrophic climate change and new technology is seen as key to addressing climate change. In total, 1,691 sustainability experts from corporate, government, non-governmental, academic/research and service (e.g., consulting) organizations from more than 90 countries responded to the survey.

UK - Taking climate change one step at a time

The Copenhagen climate change summit takes place from December 7, 2009, with environment ministers and officials gathering to try and agree on a successor to the Kyoto protocol of 1997. As the politicians debate international action against climate change, what steps can businesses take to reduce their own carbon footprints? (Read the article One step at a time in CA Magazine online.)

Canada - PwC and Craib publish survey on CSR Trends 3

Our planet is changing and so is the way business is conducted. Phrases like sustainability, climate change, good corporate citizenship and going "green" are no longer part of some fringe discussion — they are now on stakeholders' agendas. This has meant a huge shift in focus for many businesses, as public concern over sustainability has started to impact the bottom line. The business environment is changing. With change comes opportunity. CSR Trends 3 is a practical working tool designed to provide useful insight into corporate social responsibility report trends around the world. The survey’s research was conducted jointly by PricewaterhouseCoopers’ Sustainable Business Solutions practice and Craib Design & Communications, a group of communications consultants with decades of experience in corporate and investor communications.