TRIPLE BOTTOM LINE Reporting and Accounting Standard Lays Groundwork for Managing Corporate Social Responsibility

The business of business is business - or at to the terminal degree it used to be! It was not too keen-sighted agone when companies single-mindedly pursuing the bottom line and shareowner apprize were handbilled morally justified in their own right. How clock suck up changed. With the entrance of the stakeholder society: transparency, incarnate governance, accountability, human beings rights - these are the bracing maxims of today. According to the 1999 Millennium Poll on Corporate cordial Responsibility, by PricewaterhouseCoopers, which surveyed 25,000 consumers, Two in triad citizens want companies to go beyond their historical role of qualification a profit, paid taxes, employing people and obeying laws; they want companies to contribute to broader societal goals as well. Lets consider the green movement as an example. In the ago 10 years, environmental issues have shifted from being a bash movement for bunny-huggers to a global concern in realism politics. Wi tness the Rio humans Summit in 1992, the success of the German Green political party in Europe, the Kyoto Protocol on addressing climate change in 1997. The spill-over effect into the business empyrean has been self-evident. Thousands of companies world-wide are signing up to voluntary environmental standards, much(prenominal) as the International Standards Organisations 14001 environmental Management System, the United Nations breeding Programmes International Declaration on Cleaner Production, or the accountable Care Code of rehearse of the chemicals industry.

Triple-Bottom-Line Reporting At yearbook meetin gs, concerned shareholders are increasingly ! calling on directors to account for the social and environmental impact of their corporations operations. While environmental, health and golosh reports are now increasingly common, reports that tackle social issues such(prenominal) as human rights and child labour are not. Says damn shame Robinson, the UN High Commissioner for Human Rights: In the last a few(prenominal) years, perceived corporate complicity in human rights abuses has damaged corporate reputations and, in some cases, share... If you want to get a all-inclusive essay, sound out it on our website: BestEssayCheap.com

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