Using conservation science to advance corporate biodiversity accountability

Biodiversity declines threaten the sustainability of global economies and societies. Acknowledging this, businesses are beginning to make commitments to account for and mitigate their influence on biodiversity, and report this in sustainability reports. The top 100 of the 2016 Fortune 500 Global companies' (the Fortune 100) sustainability reports were assessed to gauge the current state of corporate biodiversity accountability. Many companies acknowledged biodiversity, but corporate biodiversity accountability is in its infancy. Almost half (49) of the Fortune 100 mentioned biodiversity in reports, and 31 made clear biodiversity commitments, of which only 5 could be considered specific, measureable and time?bound. A variety of biodiversity?related activities were disclosed (e.g., managing impacts, restoring biodiversity, and investing in biodiversity), but only 9 companies provided quantitative indicators to verify the magnitude of their activities (e.g., area of habitat restored). No companies reported quantitative biodiversity outcomes, making it difficult to determine whether business actions were of sufficient magnitude to address impacts, and are achieving positive outcomes for nature. Conservation science can help advance approaches to corporate biodiversity accountability through developing science?based biodiversity commitments, meaningful indicators, and more targeted activities to address business impacts. With the “biodiversity policy super?year” of 2020 rapidly approaching, now is the time for conservation scientists to engage with and support businesses to play a critical role in setting the new agenda for a sustainable future for the planet, with biodiversity at its heart

Stakeholder Engagement in Sustainability Reporting: Evidence of Reputation Risk Management in Large Australian Companies

The objective of this research is to examine whether stakeholder engagement in sustainability reporting constitutes the process of managing reputation risks. This research utilises Shrives and Brennan’s (2017) framework of rhetorical strategies of non-compliance to obtain empirical evidence of reputation risk management in the context of stakeholder engagement in sustainability reporting. Quantitative and qualitative methods of content analysis were undertaken on 154 sustainability disclosures in both annual reports and sustainability reports of large Australian companies. This research finds that large Australian companies engage with their stakeholders to manage reputation risks: to increase market share and pre-empt social issues. It is evident that large Australian companies use several forms of rhetorical statements in their sustainability disclosures with respect to reputation risk management efforts. However, there is no evidence that they shirk responsibilities

Barriers to Implementing the International Integrated Reporting Framework: A Contemporary Academic Perspective

Purpose: This paper is motivated by the International Integrated Reporting Council’s (IIRC) call for feedback from all stakeholders with knowledge of the International Integrated Reporting Framework , and specifically of the enablers, incentives and barriers to its implementation. The paper synthesises insights from contemporary accounting research into integrated reporting (IR) as a general concept, and integrated reporting as espoused by the IIRC in the (IIRC, 2013). We specifically focus on possible barriers and emphasise the specific issues we feel could be rectified to advance the , along with the areas that may potentially hinder wider adoption and implementation. Design/methodology/approach: The paper draws upon and synthesises academic analysis and insights provided in the IR and academic literature as well as various directives, policy and framework pronouncements. Findings: The flexibility and lack of prescription concerning actual disclosures and metrics in the could allow it to be used for compliance, regardless of the other benefits lauded by the IIRC. Thus we see forces, both external and internal, driving adoption, with one prominent example being the European Union Directive on non-financial reporting. Because of the different ways in which IR is understood and enacted, there are numerous theoretical and empirical challenges for academics. Our paper highlights potential areas for further robust academic research, and the need to contribute to policy and practice. Research limitations/implications: The paper provides the IIRC, academics, regulators and reporting organisations with insights into current practice and the framework. We highlight the need for further development and evidence to help inform improvements both from a policy and a practice perspective. A key limitation of our work is that we draw upon a synthesis of the existing literature which is still in an early stage of development. Originality/value: The paper provides the IIRC with several insights into the current , and specifically with the enablers, incentives and barriers to its implementation. Also, it provides academic researchers with a number of important observations and an agenda upon which they can build their future research

Planetary Boundaries and Sustainability Indicators. A Survey of Corporate Reporting Boundaries

The aim of this research is two fold: (a) to inquire into the methodological foundations of boundary setting for improved sustainability reporting and (b) to explore current corporate practice in this area, with a particular emphasis on environmental indicators. The paper contends that the boundaries of significant sustainability indicators should encompass all entities over which there is sustainability control, together with indirect impacts arising from activities across the supply chain, and not merely direct impacts caused by entities within boundaries based on financial control. The paper explores, through an empirical study of the sustainability reports disclosed by some of the top FT500 companies, how corporations are setting environmental boundaries in practice. Results show a lack of ambition in the practice of setting organizational and operational boundaries. Most reporting entities define organizational boundaries restricted to financial control, and most of the indirect environmental impacts sought remain undisclose

Sustainable supply chain management in tourism

Sustainable supply chain management (SSCM) encapsulates the trend to use purchasing policies and practices to facilitate sustainable development at the tourist destination. Most research has focused on environmental aspects of manufacturing, while other aspects of sustainability or the challenges for the service sector are largely ignored. Yet SSCM is particularly important for tour operators, as the product depends on the activities of suppliers, such as accommodation, transport and activities. Therefore, tour operators' contribution to sustainable tourism will be more effective through the definition and implementation of policies that acknowledge responsibility for the impacts of suppliers. Exploratory research of SSCM practices amongst tour operators generated a wide range of examples of good practice across the whole supply chain, and recommendations are made for more widespread engagement. Copyright © 2006 John Wiley & Sons, Ltd and ERP Environment

The effect of DEFRA guidance on greenhouse gas disclosure

This paper investigates the effect of the 2009 guidance of the Department for Environment, Food & Rural Affairs on greenhouse gas (GHG) disclosure. The sample comprises 215 companies from a population of London Stock Exchange FTSE 350 companies over four years (2008e 2011). To quantify GHG disclosure, a research index methodology is employed, with information derived from several GHG reporting frameworks. The econometric model is estimated using panel fixed effects. Our findings suggest that the publication of the 2009 guidance has had a significant effect on the level of GHG disclosure, and that corporate governance mechanisms (board size, director ownership, and ownership concentration) also affect the extent of GHG information disclosure. The results also indicate that companies increased their disclosures prior to the 2009 guidance in anticipation of its publication. These results have important implications for the government, suggesting that non-mandatory guidance could increase disclosure as much as do mandatory requirements

Does it pay to be sustainable? Looking inside the black box of the relationship between sustainability performance and financial performance

The last three decades have witnessed a huge amount of research exploring the linkage between companies' sustainability performance (SP), sustainability disclosure and financial performance (FP). Researchers have applied various methods and techniques to investigate this relationship, yet the results remain equivocal. In this article, we look inside this black box by considering various manifestations of sustainability practices and investigating their link with FP. We apply a manual content analysis technique to analyse the sustainability reports of the 100 best-performing US firms. Our results reveal that fragmentation in the results is caused by the SP measurement. Additionally, we note that the interlinkages between different SP dimensions and sub-dimensions are weak and somewhat contradictory. The results help draw important policy implications for the development of an SP reporting framework