Europe Corporate Governance
europe corporate governance
The role of business in sustainable development need of the hour
Introduction:
The land is limited insufficient capacity and only true. Therefore, the increase can occur only during a limited period, until the fitness is improved. This leads to the idea of sustainable development.
In short, sustainable development implies progress that meets the needs the present generation without compromising the ability of future generations of future generations to meet their own needs.
Many cultures throughout human history have recognized the need for harmony between environment, society and the economy. In 1983, the United Nations created an international commission to resolve the conflict between development interests and economic interests Environmental environment that has created problems in the world.
The Commission report "Our Common Future, popularly known as" Brundtland Report "(After the name of its chairman, Dr. Gro Harlem Brundtland) who coined the term" sustainable development suggests that development economy can not stop, but should change course to fit into the Earth's ecological limits. The report notes that undesirable changes are occurring in the atmosphere, soil, water between plants and animals. Nature is generous, but it is also fragile and finely balanced. There are thresholds that can not be crossed without endangering the basic integrity system. The commission warned that we are now close many thresholds.
the company must make money and stay in business and prosper is a core value of any enterprise for profit. At the same time, the business sector must take into account the interests of all stakeholders, including customers, employees, investors, suppliers, governments and society.
The 1990s and early 2000s were turbulent times for the international investor community, with many of shareholder wealth is created and destroyed. Both institutional and retail investors have learned from painful to revisit your assumptions about what is valued tangible and intangible, and has expanded its scope to examine the characteristics that could lead to long-term financial success.
A field performance of the company began to attract attention from investment professionals is sustainable development: a set of responsibilities that directly contributes View the profile of the organization and management of risks, sometimes linked to corporate responsibility.
There is ample evidence that development contributes to sustainable value for its shareholders in a variety of means, not only tangible contributions, such as reducing risk and improving profitability, but also by the creation of intangible assets such that brand equity, human capital, business operations and so follow the path of sustainable development reinforces the intangibles an organization in a number of ways that in turn led to the creation of tangible value for shareholders.
It is now recognized worldwide, following path towards sustainable development of enterprises. These are several approaches. For example, eco-efficiency is based on a sensible proposal that reduces waste and inefficiency in the production process, save money and protect the environment same time. Life Cycle Assessment (LCA) provides a framework for the understanding of defects in materials and potential impacts associated with the provision of services or products in a closed circuit. Sometimes referred to as "cradle to cradle" or "cradle to grave" ACL is like a company in terms of seizure processing and output. This helps to identify inefficiencies that benefit from drainage and produce waste, including contaminants.
Many of these approaches: for example, eco-efficiency, LCA, full cost accounting, industrial ecology, systems – prevention Pollution in office, etc. are new to the business world. Companies wishing to benefit from the transition to a sustainable development path need to prepare and have a longer time horizon and a set of goals than traditional companies.
Achievement and recognition the importance of the sustainable development process typically begins by senior management. However, good intentions are meaningless if it is present only in the minds of some individuals. The values of sustainable development must permeate the entire organization. Changing the culture of a society and prospects requires a contribution to the world – the CEO and staff entering the top, middle, junior and everyone works together.
To make this change to move towards a sustainable development approach is important:
- Prepare a mission statement
- Way to reduce house waste and pollution prevention equipment
- Inform employees about economic trends, environmental and social
- Maintain regular communication lines
- They are committed to community development efforts
- Be committed to honest and accessible public relations
- Measure and report on progress and performance
- Prepare an annual report on Sustainability
Memories Sustainability
Due to rising global interest in sustainable development, practice of sustainability reporting has become. Sustainability reporting involves reporting on economic, environmental and social organization (Also known and three reports on the results). The World Business Council for Sustainable Development defines sustainability report public reports by companies to provide internal and external stakeholders with a picture of the position of companies on the activities in the economic, environmental and social. "
The Global Reporting Initiative (GRI), a multi-stakeholder, international organization whose mission is to develop and disseminate guidelines for the level Global sustainability reporting, has developed the framework for sustainability reporting for companies reporting on economic, environmental and social activities, products and services. The general structure of the sustainability report prepared by IRG contains:
- A statement the CEO describing key elements of the report key
- An overview of the reporting company and the scope report
- A summary and key indicators
- Vision of the reporting company and how integrates economic, environmental and social
- An overview of the governance structure and management systems that exist to implement the vision
- Performance of the social, economic and environmental activity
Sustainability reporting has the potential to provide information critical for economic analysis. This information is provided general information in future financial information which could improve understanding of users report that key value drivers such as the formation of human capital in society, corporate governance, management environmental risks and the ability to innovate.
Sustainability reporting has increased since 1993 and has grown considerably in recent years. The main factors of sustainability reporting companies are:
- Have a good brand image and reputation
- Be an employer of choice
- Maintaining a strong market position
- Win the confidence of financial markets
- Be innovation in developing new products and services and creating new markets
Sustainability assurance
The companies value the overall contribution made to guarantee the sustainability reporting. Organizations at the forefront the presentation of sustainability assurance reports also recognize the key role in ensuring the credibility and usefulness of information flows within the organization, particularly non-traditional and non-commercial use.
Currently, there are only two recognized professional standards for conducting assurance of sustainability reports. These are: AA 1000 – assurance standard developed by the Institute of Social and Ethical Accountability, ISAE 3000 and provided by the verification and certification of the International Standard, which is part of the International Federation of Accountants.
Trends in Sustainability Reporting
Sustainability reporting has become a common practice in many countries like USA, Europe, Japan and Australia. Sustainability reporting is still at an emerging stage in Asia, Latin America, Africa and Russia.
While sustainability reporting is not mandatory in India, a small but significant number of these two subsidiaries multinational and local companies preparing sustainability reports based primarily on the GRI guidelines. However, most of these companies focusing on community initiatives rather than risk governance and communication.
With globalization, Indian companies go that they have much to lose by not following the rules of sustainability reports. and Indian companies see sustainability reporting central social responsibility of business to the philanthropy passive "is not a sufficient response to the heightened expectations.
Conclusions:
The goal of sustainable development requires that companies take responsibility for their social, environmental and economic. The Sustainable development can offer companies the ability to innovate and grow through all levels and operation activity. Decisions correct in a society, if newly exposed to the concept of sustainable development or whether it is advancing its sustainable development program, helps long within the company. It's about making the right decisions and set the right priorities. The basis of the need for positive mind set towards sustainable development. Wider dissemination of sustainability, the greater the likelihood of its success. To achieve this goal, Awareness must be created for students of this generation and the common public through education.
Los nombres de las empresas con mejor gobierno corporativo y en el peor de los continentes?
¿Puede alguien darme una cuenta en bruto de las empresas con y en el peor de gobierno corporativo más es decir, por continentes de Asia, Europa, EE.UU. y si es posible, Sudamérica, Australia y África
Mejores y peores según el cual / qué autoridad?
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