Voluntary Disclosures in Australian Corporate SectorSelect two Australian companies listed on the Australian Stock Exchange (ASX) having voluntary disclosures made on corporate social responsibility (i.e. sustainability reporting) of environmental, social and economic reporting (triple bottom line).
Use Global Reporting Initiative (GRI) web-site for CR1 guidelines(G3 or G3.1 or G4) as well as list of Australian companies providing sustainability report
(https:/Iwww.g lob alrepo rting. org/network/regional-n etworksIgri-f ocal- pointslfo ca I-p oint-austra liaiPa qes/def ault. aspx).
In your essay, critically evaluate environmental, soal and economic reporting followed by each companies whether consistent with the requirements of the CR1 guidelines for the satisfaction of stakeholders to ensure accountability and transparency. Identify the strengths and weaknesses of their reporting and disclosure as well as major differences along with your recommendations how to minimise voluntary reporting and disclosure gaps between them.
Do not attach a copy of the sustainability reporting. lnstead,to verify provide the web address of both Co mpanies.
Specific and descriptive criteria to follow:
(1) There must be an introduction and conclusion section and references, if any, and website address of the selected compan ies where from sustainability reports are down loaded
(2) There must be a brief discussion of the selected listed companies and their operating activities in the respective industry sector. Preferred sectors are mining, utilities, manufacturing etc. being sensitive to environmental and other social and economic reporting.
(3) Adequate discussion on environmental, social and economic disclosure in reference to respective CR1 disdosure guidelines. Abetter understanding of conceptsofvoluntary disclosure as well as reporting is expected
(4) There must be an analysis of reporting practices asin point (3) above whether CR1 disclosure guidelines are properly followed or not. The strengths and weaknesses of reporting should be identified from the stakeholders perspective. In evaluating voluntary Triple Bottom Line (TBL) reporting practices, any relevant comment or recommendation should be taken into account.
(5) The reporting practices of both companies as in point (3) must be compared with a decision which company is in
compliance with respective CR1 disclosure guidelinesthan the other and why and how more compliance is achievable. In evaluating voluntary disclosure practices, any relevant comment or recommendation should be taken into account.