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Corporate Environmental Reporting

Corporate Environmental Reporting

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Published by Pankaj

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Published by: Pankaj on Jul 09, 2010
Copyright:Attribution Non-commercial

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11/16/2010

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INTRODUCTION:
Corporate Environmental reporting can be defined as a catch-all term thatdescribes the various means by which companies disclose information ontheir environmental activities.
 
It is important to distinguish between theterms environmental reporting and corporate environmental reports(CERs).Corporate environmental reports (CERs) are only one form oenvironmental reporting defined as publicly available, stand-alone reportsissued voluntarily by companies on their environmental activities.Environmental reports can be considered a sort of small world wheremany crucial points in the relationship between a company and itsstakeholders meet together.There can be said to be three categories of environmental disclosures:1. Involuntary disclosure - the disclosure of information about acompany’s environmental activities without its permission and against itswill.
 
Examples of involuntary disclosures are environmental campaigns, press and media exposes and court investigations.2. Mandatory disclosure - the disclosure of information about acompany’s environmental activities that is required by law.3. Voluntary disclosure - the disclosure of information on a voluntary basis.
 
There are two types of voluntary disclosures: confidential and non-confidential. Confidential voluntary disclosures are those required by banks, insurers, customers and joint venture partners that are not publiclyavailable. Non-confidential voluntary environmental disclosures are
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 practically any environmental information the company voluntarilymakes available to the general public.
PURPOSE OF ENVIRONMENTAL REPORTING:
Corporate environmental reporting serves many different purposes for different stakeholders.1.It empowers the people the information they need to holdcorporations accountable, and invites stakeholders more fully intothe process of corporate goal setting.
2.
It permits the investor the harness the power of the capital marketto promote and ensure environmentally-superior business practices.
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It allows companies and their stakeholders to measure companiesadherence to standards set forth in their statement of environmental principle, and their various goals and objectives.
4.
Environmental risk is the internal part of the risks facing everyorganization. Reporting can help to identify such risks, and wherethey could arise, and thus prevent damage to reputation fromnegative publicity on an environmental issue.
BENEFITS:
The benefits derived from environmental reporting can roughly bedivided in two categories: financial and strategic.1 Financial-If a company can demonstrate good environmental performance and anacceptable level of environmental liability to its stakeholders, it may benefit financially in that its share price may increase.
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2 Strategic-Potential strategic benefits include improving the company image and building better relations with relevant stakeholder groups.
How is it used?
Like financial reporting, environmental reporting forces a high level of organizational transparency. Senior management often usesenvironmental reporting as a mechanism to review environmental performance and establish targets and action plans for furtheimprovement. A variety of stakeholders use corporate environmentalreports to assess the performance of companies. Environmental reports provide insight into how well a company is managing its operations toreduce risk, avoid potential liabilities, satisfy public and other stakeholder expectations, and pursue innovative solutions. Environmental reports provide more than just insight into the environmental performance of anorganization; they offer an understanding of the overall environmentalmanagement framework used by the company. Environmental reportingis becoming increasingly common, and is now being utilized by severalsectors, including private companies, academic institutions and localgovernment.Environmental reports often contain a number of common elements
Introduction to the chief executive.
Background information about the organization.
The organization’s environmental policy.
The organization’s overall performance with regard to theenvironment and frequently broken down into smaller businesssections for large organizations.
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