AA1000 Assurance Standard (AA1000AS), 89
accounting profession
attestation engagements, 87
IFAC Sustainability Framework, 31–32
sustainability accounting and, 13–15
sustainability reporting and, 13–15
Achieving Mission Zero, 20
air pollution, effects of, 15
American Electric Power (AEP), 66
American Institute of Certified Public Accountants (AICPA), 88, 104
Anderson, Ray, 17
anticompetitive behavior, 66–67
antitrust legislation, corporate sustainability and, 8–9
Association for the Advancement of Sustainability in Higher Education (AASHE), 104–105
assurances for sustainability reports
standards for, 88–91
Attest Engagements AT Section 101 (AT 101) standard, 90, 91
Ball Corporation, 43, 44, 65, 69
Baxter International Inc., 10
benefits analysis of sustainability, 100–102
biodiversification, sustainability and, 3, 40, 47
boundaries, GRI sustainability reporting guidelines, 37
boycotts
of Nike, 14, 29
of Wal-Mart, 11
brand value, sustainability reporting and, 26
Brundtland Commission, 2
Brundtland, Gro Harlem, 2
business strategy, sustainability management and, 32
Carnegie, Andrew, 8
carpet manufacturing
environmental reforms in, 17
sustainability practices in, 20
Carson, Rachel, 16
certification standards
number of certifications by country, 98
for sustainability assurance, 88–91
certified public accountants (CPA), 87, 91
child labor practices
GRI sustainability reporting guidelines, 62
at Nike Corporation, 29
Clayton Act, 9
Clean Water Act, Wal-Mart violations of, 13
climate change, scientific research on, 2–4
closed-loop systems, financial rewards of sustainability reporting, 24
collective bargaining agreements, 56, 61–62
communities, corporate sustainability and role of, 7–13
compact fluorescent light bulbs (CFL), Wal-Mart installation of, 11
company governance systems, corporate sustainability and, 39
competitive advantage
sustainability practices and, 30
waste management and, 23
compliance-only strategies, costs of, 24
conflicts of interest, sustainability practices against, 26
content management, GRI sustainability reporting guidelines, 33–35, 93–94
coral reefs, environmental damage to, 4
Corporate Register Sustainability Awards, 102
corporate sustainability
definitions of, 4–5
reporting companies, survey of, 82–83
stakeholders in, 6–13
corporate sustainability reports
defined, 13–15
See also sustainability reporting
corruption
anticorruption policies, 65–66
globalization and increase in, 16
governance and protection against, 26
political causes, 66
risk assessments, 65
cost analysis, sustainability reporting and, 102–103
customer privacy, 71
customers
as stakeholders, 6–7, 26–27
customer satisfaction, 70
Cuyahoga River fire, 16
data management practices
customer privacy issues, 71
Dow Jones Sustainability Indices, 83–85
environmental management systems, 94–98
FTSE4Good index series, 86
GRI guidelines for, 33
Department of Justice (DOJ), U.S., 9
developed countries, environmental damage in, 3–4
disclosure standards, sustainability reporting
ethics and integrity, 39–40
governance, 39
identified material aspects and boundaries, 37
management approach and indicators, 40–71
organizational profile, 36–37
report profile, 38–39
stakeholder engagement, 37–38
strategy and analysis, 36
diversity and equal opportunity, 58–59
Domini 400, 81
Donora and Webster, Pennsylvania, pollution disaster, 15
Dow Jones Sustainability Indices (DJSI), 83–84
Industry Group leaders table, 84–85
dynamic random access memory (DRAM) manufacturing, price fixing and, 9
Ecology of Commerce, The (Hawkins), 17
economic aspects, in standard disclosure, GRI sustainability reporting guidelines
economic performance, 41
indirect impacts, 42–43
market presence, 41–42
procurement practices, 43
economic dimension of sustainability, 7–9, 15
in Dow Jones Sustainability Index, 83–84
performance indicators of, 41–43
employee health care benefits, corporate sustainability and, 10–11
energy service companies (ESCOs), sustainability reporting and, 21–22
energy usage, sustainability reporting and, 21–23
environmental aspects, in standard disclosure, GRI sustainability reporting guidelines
biodiversity, 47
effluents and waste, 49–51
emissions, 47–49
energy, 44–45
environmental grievance mechanisms, 54
materials, 43–44
products and services, 51–52
supplier environmental assessment, 54
transport and compliance, 52–53
water, 45–47
environmental damage
costs and risks of, 27–29
history of, 15–17
litigation threats and, 28
scientific research on, 2–4
environmental dimension of sustainability, 11–13
sustainability accounting and, 13–14
environmental management systems (EMS)
International Organization for Standardization (ISO) Standard 14001 for, 94–98
environmental policy, ISO 14001 standard for, 96
Environmental Protection Agency (EPA), U.S., 16
environmental vision statements
corporate sustainability reporting on, 36
ethics and integrity disclosures, 39–40
European Union (EU), emission controls, 29
external assurances, sustainability reporting
AA1000AS (2008), 89
accounting firms, 87, 92
AICPA Auditing Standards Board, 91
Attest Engagements AT Section 101, 90–91
environmental management systems, 94–98
financial statement audit, 87–88
GRI sustainability reporting, 93–94
ISAE 3000 standard, 89
nonaccounting assurance firms, 92
return on investment, 91–92
services cost, 93
external benefits of sustainability reporting, 25–27
ExxonMobil Corporation, lawsuit against, 28
Exxon Valdez disaster, 28
financial performance
sustainability management and, 24–25
financial statement audits, 87–88
fire and police protection, corporate sustainability and role of, 7
Garbage Patch, 99–100
Generally Accepted Accounting Principles/Standards (GAAP/GAAS), sustainability assurances and, 88
Global 250 (G250) companies
corporate sustainability reporting by, 82
globalization of business, corporate sustainability and, 5–6
Global Reporting Initiative (GRI)
assurances for sustainability reports, 93–94
companies reporting under, 71
content guidelines in, 34
disclosure standards, 36–71
future predictions, 103–105
sustainability reporting guidelines, 33–34
governance disclosures, 39
governance structure
GRI sustainability reporting guidelines, 33
integrated report, 74
organizational social capital and, 39
sustainability practices and role of, 7, 26
governmental agencies, sustainability reporting in, 19
government assistance, 41
governments, corporate sustainability and role of, 7–13
G4 reporting framework, sustainability reporting guidelines, 33
Hawkins, Paul, 17
hazardous waste disposal
reduction of, 23
Hazelwood, Joseph, 28
Hillel (rabbi), 27
human capital, sustainability management and, 72
Humanix 200 Global Index, 83
human rights practices, 63
human rights protections
sustainability practices and, 29
See also diversity and equal opportunity; indigenous rights
implementation of environmental management system, ISO 14001 standard for, 96–97
indigenous rights
sustainability practices and protection of, 63
indirect economic impact, 42–43
Integrated Reporting (IR) Framework
content elements, 74–75
financial capital, 72
guiding principles, 73–74
human capital, 72
manufactured capital, 72
natural capital, 72–73
objectives, 72
social and relationship capital, 72
integrative sustainability organization, 24–25
Interface Inc, 14, 17
Achieving Mission Zero of, 20
Intergovernmental Panel on Climate Change (IPCC), 2–3
internal management
IFAC sustainability framework and, 32
sustainability reporting and unification of, 20–21
International Federation of Accountants (IFAC), sustainability framework of, 31–33
International Organization for Standardization (ISO) Standard 14001
benefits of, 95
certifications, 98
checking, 97–98
implementation and operation, 96–97
management review, 98
planning, 96
policy, 96
International Standards on Assurance Engagements (ISAE) 3000, 89
investment services community, sustainability reporting and, 83–86
investment, sustainable development as criterion for, 6–7, 27
job creation, corporate sustainability and, 8
KLD Domini 400 Index, 83
KPMG International Survey of Corporate Responsibility Reporting, 6
reporting companies included in, 82
labeling responsibilities, in Ball Corporation sustainability report, 69
labor practices
company sustainability management and, 6, 11
See also employee health care benefits, corporate sustainability and; stakeholders in corporate sustainability
litigation, sustainability and risk of, 28
management structure
environmental management system review, ISO 14001 standard for, 98
GRI sustainability reporting guidelines, 40
manufactured capital, sustainability management and, 72
marketing communications, 70–71
market presence, 41–42
materials usage
sustainability reporting and, 23
media reports, sustainability reporting and, 84
Medicaid, Wal-Mart employees on, 10
Mid-Course Correction (Anderson), 17
monitoring and checking of environmental management system, ISO 14001 standard for, 97–98
monopolistic practices, corporate sustainability and, 8–9
Morgan, J. P., 8
Morningstar Japan Social Responsible Investment Index, 83
National Association of Energy Service Companies (NAESCO), 22
natural capital, sustainability management and, 72–73
Nike Corporation, 29–30
noncompliance with laws and regulations, 69
nondiscrimination policy, 61
nonprofit organizations, sustainability reporting in, 19
occupational health and safety, 56
sustainability and, 10–11, 27
oceans, environmental damage in, 3–4
operational benefits of sustainability reporting, 21–25
operation of environmental management system, ISO 14001 standard for, 96–97
organizational profile, in standard disclosure, GRI sustainability reporting guidelines, 36–37
organizational structure
sustainability reporting impact on, 24–25
See also governance structure
Organization for Economic Co-operation and Development (OECD) countries, GRI reporting guidelines and, 54
Our Common Future (Brundtland), 1
overfishing, statistics on, 3–4
ozone-depleting substances (ODS), 48–49
packaging technology, sustainability and, 12
performance indicators
GRI sustainability reporting guidelines, 41
pesticides, environmental effects of, 16
planning for sustainability, ISO 14001 standard for, 96
price fixing, economic impact of, 8–9
privately held companies, sustainability reporting in, 19
product responsibility and safety, 26
quality standards, GRI sustainability reporting guidelines, 34–35
Recycled Energy Development (RED) Corporation, 22
renewable fuels and materials, use of, 44
reporting principles and guidance, GRI sustainability reporting guidelines, 33–34
reputation building, sustainability reporting and, 26
risks of ignoring sustainability, 27–30
cost analysis of, 102–103
RobecoSAM, 86
Rockefeller, John D., 8
Samsung Electronics, 9
Securities and Exchange Commission (SEC) regulations, 28–29
Sherman Antitrust Act, 8, 9
Silent Spring (Carson), 16
social capital, sustainability management and, 72
social dimensions of sustainability
corporate sustainability reporting on, 9–11
GRI sustainability reporting guidelines, 54–71
socially responsible investing (SRI)
sustainability as criteria for, 81
spill incidents, 14, 28, 50
stakeholders in corporate sustainability, 6–13, 26
reporting by, 84
standard disclosures
GRI sustainability reporting guidelines, 35–71
standardization of sustainability reporting, 103
Standard Oil Trust, 8
standards for sustainability assurance, 88–91
stock price performance, sustainable development and, 103
strategy and profile, in standard disclosure, GRI sustainability reporting guidelines, 36
supplier stakeholders, corporate sustainability and, 7
sustainability accounting
defined, 13–15
IFAC framework, 31–32
Sustainability Accounting Standards Board, 75–79
sustainability balance scorecard (SBSC), 20–21
sustainability reporting
benefits analysis, 100–102
benefits of, 20–27
content guidelines, 34
cost analysis, 102–103
current status of, 104
defined, 13–15
disclosure standards, 35–71
economic dimension, 15
external assurances, 87–94
external benefits of, 25–27
financial rewards of, 24
future predictions concerning, 103–105
GRI guidelines, 33–71
guidelines for, 31–80
history of, 15–17
IFAC sustainability framework, 31–32
internal benefits of, 20–21
IR framework, 72–75
operational benefits of, 21–25
organizational rewards of, 24–25
quality guidelines, 34–35
responses to, 81–86
social dimension, 14
standardization, 103
sustainability accounting and, 13–15
Sustainability Accounting Standards Board, 75–79
See also corporate sustainability
sustainability, risks of ignoring, 27–30
sustainable, definitions of, 1–2
thermal energy, as power source, 22
training and education programs, 58
Turbosteam (Recycled Energy Development subsidiary), 22
uninsured citizens, Wal-Mart employees as, 10–11
United Nations Environmental Programme (UNEP), 2
United Nations World Commission on Environment and Development Conditions, 1–2
United Parcel Service (UPS), 36–37, 41, 55–59
Vanderbilt, Cornelius, 8
Vietnam War, social responsible investing as response to, 15
volatile organic compounds (VOCs), carpet manufacturing and, 14
Wal-Mart
Clean Water Act violations of, 13
corporate sustainability practices of, 8, 10–13
employee health care benefits at, 10–11
growth and sales figures for, 8
labor boycotts of, 11
workers’ rights violations by, 10
waste reduction, materials usage, 23
water consumption and usage, water pollution, effects of, 45–46
water quality discharge, 49
water usage, sustainability and, 23–24
workers’ rights violations, corporate sustainability and, 10
working conditions
sustainability reporting and, 25
See also labor practices; occupational health and safety
World Meteorological Organization (WMO), 2