Social and Environmental Reporting
This particular research investigation is expected upon transformation for the social and the environmental influences that can also affect the behavior of the corporation that is within the developed countries context. Within the environmental and the social accounting and accountability of literature, the research is based on each levels of disclosures of the environment. The research also shows the growing amount of threats in the environment that are causing disturbance within the environment structure (Higgins, 2015).
The main purpose of this research paper is based on examining the disclosures that are initiatives of the Niko Resources Ltd that is basically a Canada based oil and gas company. Most importantly, the major two blowouts of environment are considered to that of the Bangladesh where there was a blowout in the gas field (Junior et al., 2014). The research has been basically focused itself in reviewing the environmental health of Niko and some of the more incidents that has taken place in Bangladesh and also in the communication media of Niko that includes the press releases , annual reporting and the report of social responsibility (Deegan, & Shelly, 2014). The basic aim of the critical evaluation is to make understanding of the social responsibilities and achieve the media attention for the concern of the public as it had a great impact on Niko’s practice disclosure. The main findings are based on the context that shows how Niko failed to provide any kind of the non-financial information regarding the environmental conditions through the press release and the annual reports (del Mar Alonso-Almeida et al., 2015). The releases are meant to be very important for the local communities. However, in the context of the disclosures of the financial environment, the matters such as contingent liability disclosure, information are adequately provided by the reports that are published annually. All the findings also exceptionally suggests that all the non-financial disclosures are directly associated with the public pressure and can be measured by the negative coverage of media. The research also aims at finding the real motive of Niko’s environmental disclosure and non financial reports that undoubtedly reflects all the survival consideration. The analysis depicts that disclosure behavior of the multinational company in direct relation to the incidents of the environment that actually occurred within a local community (Higgins et al., 2018).
The instant research analyses upon the context that how the company that is disclosing all the environment information through the annual reports strictly indicates the theory of legitimacy with some of the probable explanation for increasing the environmental disclosures. The theory of legitimacy is based on the idea that is based on the concept of continuing the operation carefully as well as successfully (Kuzey & Uyar, 2017). The act of the corporation must be placed within the bounds on what the society actually tries to identifies and is a behavior that s accepted socially. The main purpose behind the research is to extend the applicability and the power of prediction in legitimacy by a clean investigation evaluating that to what extent the reports that are published annually are interrelated with each other. The main purpose of the analysis is based on the attempt of gaining, maintaining and legitimacy repair and also choice of some of the specific tactic of legitimating (Bice & Coates, 2016). One such method is quasi experimental method that can be well adopted for some of the semi-structured sort of interviews and also based on the personnel who belongs to the senor cadre from three magnificent Australian Public sector companies. The research findings indicate the needed supports for the theory of legitimacy and an explanatory factor for all the disclosures of the environment. Also the specifications of the condition of micro-legitimating tactics are used generously for bringing responses to all the threatening legitimacy that is considered mostly for all the issues related to the issues related to the environment. It also relates to the other events that are dependent on the reason and the purpose of gaining the right design. It is also focused upon maintaining the reports that repair and maintain legitimacy within the report structure (De Villiers & Maroun, 2017). The common element that needs to be acknowledging after the intricate analysis is that the main focus of the profit corporation is based on generating the acceptable terms exclusively for the shareholders. It has been analyzed that the corporations are basically socially created and it has been also argued that the existence of the corporation actually depends completely upon the willingness of the of the entire society’s operation allowance (Gary O’Donovan, 2002).
Mining Industry and Global Reporting Initiative (GRI)
The following research analysis involves the review of the submission that has been a segment of the Australian Government Inquiry for managing the corporate responsibilities. Basically the inquiry was originally established for the investigative theory and judging of the fact that whether it should be regulated or not. It is based on the context that the social responsibilities are whether accountable and can be determined by the forces of the markets (Feng et al., 2017). The result that has been evaluated shows that the involved business communities are having some of the overwhelming flavors that approaches towards an anti-regulation concept. The corporations are left along with the flexibility for determining all the social responsibilities that are associated with the context of “enlightened self –interest” that must be retained as the mechanism of guidance as well as the initiatives for facilitating some of the social responsibilities (Dienes et al., 2016). There has been a stark contrast based on the submission from the point of view of the environmental and social organizations that provides upon some counter arguments favoring the view of pro-regulation. Even the government also embraces the perspective of free market that is actually promoted by the business community. It is also decided against the national legislation that actually pertains to the social and corporate responsibility. The whole environmental factor is in crisis and all the actions must be taken in a slow process ass already much damage has been done to the planet. The action plans and the strategies needs to be reversed and it is needed to be considered by the all the business communities all around the world (Gallén & Peraita, 2017). This also looks upon the global calls for the corporation for embracing the theory of sustainable development that is completely consistent with the above concerns. The research also establishes the fact that the business organization out rightly controls the necessary capital that can be used for addressing the issues that are related to the environment and the society. It is also essential for the sustainable development and also reducing any kind of environmental damage and motivating the business houses for adopting some of the business strategies that quests towards achievement of the a sustainable development (Muhammad Azizul Islam, Muhammad Aminul Islam, 2011).
The research is based upon the study of the corporate dialogue with other being vulnerable. The dialogues are communicated with the external group that is marginalized for the external groups that increasingly presents the literature of the business for making the social responsibility on the context of corporate learning (Fonseca et al., 2014). The corporate communication promotes the engagement of core corporate responsibility. The whole study is based upon the conditions that underpin the corporate responsibility along with the marginalized stakeholders. There is a detailed part on the analysis of the discourses that approaches towards corporate data spanning and public communication. it also initiates the interviews of the residents that affected the decision of closing the mines. Thus in the case study presentation, the context of limited social and organizational responsibility affirms to the primacy of the interest of business and also co-opts the other vulnerable pursuits of interest. Thus, the case study suggests the declarations of the critical understanding based on corporate dialogues along with other who are vulnerable (Piecyk & Björklund, 2015).
Case Study: BHP
Conclusion:
The subject of CSR continues to put its focus on the on the shareholder’s maximization of wealth and the corporation must recognize a fact that the much larger sect of actor invests a big portion of the making the rents for bringing the welfare. But CSR is not at all limited for making voluntary redistribution for making the corporate rents. It must be concluded that the firms must expect to maximize the profit earning and distribute them among the group of shareholders or rather spend them within the corporation just by charity.
According to the rule of BHP, the concept of sustainability is the ultimate core part that makes the integral part of the organization that determines it make the differences (Bhp.com, 2018). As BHP is a leading global resource based company, the main purpose is to create a valid long term shareholders value through the process of discovery, development and acquisition. Even the organization entertains elements of marketing of the natural resources (Dissanayake et al., 2016).
In accordance to the rule of BHP, the standard of governance are quite critical on the contrast to the creation of long term-term value. BHP also maintains the social licence for operation.
The Board overseas the companies approach towards sustainability. The sustainability Committee also overseas the matters related to human rights that includes the systems adequacies. The Board’s Risk and the committee assists the oversight the risk management system. The remuneration committee is based upon the guidance seeking on the sustainability Committee that determines the performance assessment reaching the score card targets.
The strategies of BHP is based on the concept of owning and operation of large scale, low cost and lifelong upstream assets that can be diversified by some of the commodities that are based on geographical locations and market. BHP focuses on providing and prioritizing on the context of health and safety of the entire community. They also work upon ensuring the year by year improvements for recording the total recordable frequency of injury (Dissanayake et al., 2016). The company also ensures the exposure of the occupational limits for protecting the people who are involved. BHP is also responsible for managing and enabling there individual portfolio resiliently for reducing the emission of greenhouse gases for having an increased amount of productivity. They also have some actively supportive communities that helps them to contribute in the context of social investment along with some contribution for bringing benefits to the communities (Siew, 2015). They even go for raising and managing the environmental compensation for rehabilating the degraded lands that relates to the community holders of the organisation. The program has build upon an additional structure for retention that contains the mechanism for addressing the stakeholders who are concerned for development of the project.
The sustainability framework is basically the heart of everything that is basically done by the company to prosper. BHP puts the effort of respecting human rights and the supporting all the host communities. They share the stewardship of being environment and the local culture support. The company also commits to comply with the laws and all the regulation for maintaining the jurisdiction through which it gets operated and aims for excelling the legal and all the regulatory requirements. BHP approaches for maintaining the sustainability through the mandatory performance for providing the strong foundation for developing and making implementation for the management system of all the assets (Kaur & Lodhia, 2014). The standards are much consistent for identifying and managing the risks across all the business activities.
Critical Evaluation: Niko Resources Ltd
BHP has specific audit plan committee that looks after the effectiveness of the sustainability each and every year. The audits are those sets of results that can be used for creation of detailed management plans that can fill up the identity gaps with valid information.
The main key issues that are met out with the sustainable development goals are based on the three basic concepts:
- Taxes and royalties
- Chains of supply
- Employment
- Proper Governance
- Environment
- Health, capability and the social inclusions.
The organization directly contributes with the some of the achievements like, direct business activities, social investment framework and broad economic contribution. The organization deeply focuses upon the products that are produced and the way it can be produced in a better way. It also focuses on the host of the government that includes the elements of royalties and taxation. The company pay for the employment opportunities both in directly and directly.
The sustainability report of BHP aligns to the International Council on Mining and Metals’ Sustainable Development Framework. It is prepared according to the policies and procedures of the Global Reporting Initiatives Standards for comprehensive reporting level. Globally, the company communicates via the Annual General Meeting and the corporate publications that also initiates the market and media releases. Even at both local and regional level each of the assets are required for the plan, implementation and for engaging the activities of document stakeholders (Higgins & Larrinaga, 2014). The company internal channels are worthy enough to be talked about with keen monitoring of the perception survey of the employees. Generally, the contents of the Sustainability Report are actually shaped by the annual materiality assessment that is actually based on the sustainability reviews and the risks that has been analyzed.
Reference:
Bhp.com. (2018). BHP Sustainability Report 2017. [online] Available at: https://www.bhp.com/-/media/documents/investors/annual-reports/2017/bhpsustainabilityreport2017.pdf [Accessed 6 Sep. 2018].
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Deegan, C., & Shelly, M. (2014). Corporate social responsibilities: Alternative perspectives about the need to legislate. Journal of Business Ethics, 121(4), 499-526.
del Mar Alonso-Almeida, M., Marimon, F., Casani, F., & Rodriguez-Pomeda, J. (2015). Diffusion of sustainability reporting in universities: current situation and future perspectives. Journal of cleaner production, 106, 144-154.
Dienes, D., Sassen, R., & Fischer, J. (2016). What are the drivers of sustainability reporting? A systematic review. Sustainability Accounting, Management and Policy Journal, 7(2), 154-189.
Dissanayake, D., Tilt, C., & Xydias-Lobo, M. (2016). Sustainability reporting by publicly listed companies in Sri Lanka. Journal of cleaner production, 129, 169-182.
Feng, T., Cummings, L., & Tweedie, D. (2017). Exploring integrated thinking in integrated reporting–an exploratory study in Australia. Journal of Intellectual Capital, 18(2), 330-353.
Fonseca, A., McAllister, M. L., & Fitzpatrick, P. (2014). Sustainability reporting among mining corporations: a constructive critique of the GRI approach. Journal of Cleaner Production, 84, 70-83.
Gallén, M. L., & Peraita, C. (2017). The relationship between femininity and sustainability reporting. Corporate Social Responsibility and Environmental Management, 24(6), 496-508.
Gary O’Donovan, (2002) “Environmental disclosures in the annual report: Extending the applicability and predictive power of legitimacy theory”, Accounting, Auditing & Accountability Journal, Vol. 15 Issue: 3, pp.344-371, https://doi.org/10.1108/09513570210435870
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Higgins, C., Stubbs, W., & Milne, M. (2018). Is sustainability reporting becoming institutionalised? The role of an issues-based field. Journal of Business Ethics, 147(2), 309-326.
Junior, R. M., Best, P. J., & Cotter, J. (2014). Sustainability reporting and assurance: A historical analysis on a world-wide phenomenon. Journal of Business Ethics, 120(1), 1-11.
Kaur, A., & K. Lodhia, S. (2014). The state of disclosures on stakeholder engagement in sustainability reporting in Australian local councils. Pacific Accounting Review, 26(1/2), 54-74.
Kuzey, C., & Uyar, A. (2017). Determinants of sustainability reporting and its impact on firm value: Evidence from the emerging market of Turkey. Journal of cleaner production, 143, 27-39.
Muhammad Azizul Islam, Muhammad Aminul Islam, (2011) “Environmental incidents in a developing country and corporate environmental disclosures: A study of a multinational gas company”, Society and Business Review, Vol. 6 Issue: 3, pp.229-248, https://doi.org/10.1108/17465681111170984
Piecyk, M. I., & Björklund, M. (2015). Logistics service providers and corporate social responsibility: sustainability reporting in the logistics industry. International Journal of Physical Distribution & Logistics Management, 45(5), 459-485.
Siew, R. Y. (2015). A review of corporate sustainability reporting tools (SRTs). Journal of environmental management, 164, 180-195.
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