Sustainability Reporting Rodney Ndamba · • ‘Sustainability Reporting is the practice of...
Transcript of Sustainability Reporting Rodney Ndamba · • ‘Sustainability Reporting is the practice of...
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Sustainability Reporting
Rodney Ndamba
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Agenda
Develop the capacity of
participants to understand
the fundamentals and
context of sustainability
reporting
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SESSION 1
INTRODUCTION AND DEFINITION OF
SUSTAINABILITY REPORTING
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• ‘Sustainability Reporting is the practice
of measuring, disclosing, and being accountable
to internal and external stakeholders for
organisational performance while working
towards the goal of sustainable development’
• ‘A Sustainable report provides a balanced
and reasonable representation of the
sustainability performance of the reporting
organisation, including both positive and
negative contribution’
• “The Global Reporting Initiatives (GRI
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Defining Sustainability Reporting
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Sometimes known as…
• Non Financial Reporting
• Environmental, Social and
Governance (ESG)
Academic
• Silent Accounting (Prof. R.B Gray)
• Shadow Accounts (Dr. C Dey)
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SESSION 2
LOCAL CONTEXT OF
SUSTAINABILITY
REPORTING
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Local facts• There are only 2 companies in Zimbabwe
whose annual reports are registered with
GRI;
• 3% of ZSE listed companies 2008 Annual
Reports could disclose information on
environmental sustainability;
• Regulatory Framework remains weak to drive
or advance sustainability reporting;
• Some companies are emerging to take
sustainability reporting seriously;
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Local facts
• Sustainability reporting sometimes is misunderstood in many local companies as an event that produces a report rather than a business approach or process ;
• Lack of business case for sustainability reporting;
• Preoccupied by managing the present without thinking of the future;
• Corporate enclave and short termism ;
• Business ideologies are still very traditional;
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Pitfall s
• Missing out on responsible Investors;
• Missing out business opportunities
• Creating an unsustainable business
culture & companies;
• Promoting uncompetitiveness;
• Damaging reputational capital;
• Eroded stakeholder capital (Social
Trust Capital)
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***Learning Lesson***
‘It take twenty (20) years to build
reputation and five (5) minutes to
destroy it.
If you think about that, you’ll do
things differently’
Warrant Edward Buffet
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The Ideal …..
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• Genuine Sustainability reporting ;
• Sustainable Stock Exchange Practices
(JSE, Singapore, Shanghai, Hong Kong);
• Thinking Sustainability in business
decisions as culture;
• Sustainability Performance Assessment
and long term business success;
• Competitiveness on the basis of
sustainable business values;
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So what need to happen ………….
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• Evolution of Zimbabwean business culture towards ‘Sustainability business practices, thinking and Best practices’ (Leading Practices);
• Daring to have companies in Zimbabwe counted in the World;
• Principle based culture rather rule based (considering international voluntary codes, practices and frameworks).
• Paradigm Shift in Corporate Leadership thinking;
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***Learning Lesson***
“Its no longer about how much
profit you have made,
….but how you have made it”
Responsible Investors
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SESSION 3
• FUNDAMENTALS OF
SUSTAINABILITY REPORTING
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GLOBAL REPORTING INITIATIVES
(GRI) – SUSTAINABILITY REPORTING
GUIDELINES
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OVERVIEW OF GRI
FRAMEWORKS
• The framework is mainly driven from the goals of sustainable development and transparency imperative
• The framework is intend to serve as generally accepted framework for reporting on an organisation’s economic, environmental and social performance.
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Orientation of Framework
The Framework are divided into
two parts:
Part 1: Reporting Principles and
Guidelines
Covers principles of:
• Materiality,
• Stakeholder Inclusiveness;
• Sustainability Context;
• Completeness;
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Orientation of Framework
Part 2: Standard Disclosures
Covers:
• Strategy and Profile;
• Management Approach;
• Performance Indicators;
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APPROACH
Sustainability Reporting is not
an event but a
PROCESS
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What are the key Processes?
• Phase 1: Prepare – Planning your Sustainability reporting process (could take 1 months
• Phase 2: Connect – Stakeholder Engagement (Could take 1 month)
• Phase 3: Focus your efforts ( deciding material issues to report on) ( Could take 1 month)
• Phase 4: Monitor – building your report (could take 6- 9 months)
• Phase 5 : Report – Report writing and communicating the report (Could take about 3 months)
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Profile Disclosure:• Stakeholder Engagement • Principal Risks and Opportunities• Disclosure of Management Approach• Governance
Performance Indicators
• Economic impact
• Environmental Impact
• Social Cohesion:
- Human rights- Labour Practice & Descent work - Gender- Society- Product Responsibility
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Report Content
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Framework Developments
• G1 (no longer in use)
• G2 (No longer in use
• G3 (superseded)
• G3.1 (in use)
• G4 (Piloting and in use)
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G3.1: Application Levels
• Profile Disclosure - 20 Indicators
• Level C - 10 Indicators
• Level B - 20 Indicators
• Level A - 79 Indicators +
• Sector supplements
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G4 Guidelines *****
New guideline
which are Based
on the Principle of
‘Comply or
Explain’
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G4
Overview
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SESSION 4
THE APPLICATION
AND BUSINESS
CASE
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So who gets involved in the
process?
• The Whole company
• Sustainability Team needs to composed of:
�Finance
�Marketing
�Production
�Human Resources
�Engineering ,ETC
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So, What’s the Business Case
• Help Manage risks and
opportunities;
• Build reputation;
• Connects departments;
• Help manage costs;
• Keep management and staff
thinking
• Motivate innovations;
• Develop competitive advantages15 April 2014 28
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SESSION 5
YOUR HAND IN
DOING IT………………
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• Technical Capacity development
through training and continuous
performance reviews;
• Technical Assistance during the
Sustainability Reporting process;
• Application level and Assurance
of your report;
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Insaf………………….
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Current Reporters….
• Turnall Holdings (GRI Registered)
• Dairiboard Holdings (GRI
Registered)
• Zimplats (Not Registered with GRI)
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Closing Remarks
Businesses in Zimbabweneed to ‘balance today’sprofits with tomorrow'ssustainability’………
……Consider the history theyare leaving for the nextgeneration as ‘TransientCaretakers’ on planet Earth
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Thank you!!!
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…in touch with us in Zimbabwe
Email address:
Website:
www.instituteforsustainabilityafrica.org
Phone :+263 (0) 773 057 384
+ 263 (0) 8644108755
Address : 7 Capri Road
Highlands, Harare
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Our VISION
‘Advancing
Sustainability
Initiatives
for Africa’
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