Product details

By continuing to use our site you consent to the use of cookies as described in our privacy policy unless you have disabled them.
You can change your cookie settings at any time but parts of our site will not function correctly without them.
Book chapter
-
Reference no. BEP9029
Chapter from: "Sustainability Performance and Reporting"
Published by: Business Expert Press
Originally published in: 2020

Abstract

This chapter is excerpted from 'Sustainability Performance and Reporting'. As organizations tackle global challenges, the face of our businesses and our economic systems are changing to consider the interest of all stakeholders rather than just shareholders. This book provides a step-by-step approach for organizations to reap benefits from a more sustainable approach. It begins with a brief history of the development of the concept of sustainability as it applies to both performance and reporting. Implementing sustainability in an organization begins with the development of policies which are consistent with the expectations of its stakeholders. An organization's active participation in multi-stakeholder initiatives helps to align the policies with societal trends. Once the policies are developed, a management system is crucial to ensure congruence of policies with actual performance. Then, periodic reporting of performance based on well-recognized standards aids stakeholders to assess an organization's performance. It also helps stakeholders to determine if performance aligns with their expectations. Both internal and external assurances can aid in developing stakeholder trust in the organization's performance and reporting. Finally, the book concludes with a reflection on key messages and potential future actions for continuous improvement.

About

Abstract

This chapter is excerpted from 'Sustainability Performance and Reporting'. As organizations tackle global challenges, the face of our businesses and our economic systems are changing to consider the interest of all stakeholders rather than just shareholders. This book provides a step-by-step approach for organizations to reap benefits from a more sustainable approach. It begins with a brief history of the development of the concept of sustainability as it applies to both performance and reporting. Implementing sustainability in an organization begins with the development of policies which are consistent with the expectations of its stakeholders. An organization's active participation in multi-stakeholder initiatives helps to align the policies with societal trends. Once the policies are developed, a management system is crucial to ensure congruence of policies with actual performance. Then, periodic reporting of performance based on well-recognized standards aids stakeholders to assess an organization's performance. It also helps stakeholders to determine if performance aligns with their expectations. Both internal and external assurances can aid in developing stakeholder trust in the organization's performance and reporting. Finally, the book concludes with a reflection on key messages and potential future actions for continuous improvement.

Related