Reporting round-up issue 86

March 16, 2006

Defra launches new guidelines for reporting on environmental impacts for businesses, ACCA announces the winners of its UK Awards for Sustainability Reporting and Freshfields scores a first for social reporting in the legal world.

Report Card

The winners of the 2005 ACCA UK Awards for Sustainability Reporting were announced on 23 February, at a ceremony that recognised considerable improvements in the quality of CSR reporting. BT was praised for underpinning its report with detailed performance indicators and for including a ‘hot topics’ section, featuring views on controversial CSR issues from independent experts, in its online report. Unilever was commended for an environment report that makes a strong link between sustainable development and core business issues. And BHP Billiton gained plaudits for an innovative and well-structured web-based report.
The judges said that in future CSR reports should have better quality assurance statements, more disaggregated performance data, and a more concise format. But they were unimpressed by reports that used external commentary statements. “The majority of judges agreed that celebrity endorsements – where a high-profile or well-respected opinion former provides a general testimonial about the report – did not add value to the report,” the judges report states. Contact ACCA www.accaglobal.com/sustainability/awards

Green route

Environment Minister Elliott Morley has urged businesses to report on their environmental impacts, with the help of new guidelines from Defra, which were launched on January 24. Morley said: “All quoted and large companies preparing the new Business Review will need to report significant environmental issues. The Business Review represents a significant advance in narrative reporting standards, including those for environmental reporting”. The guidelines outline how environmental impacts can be measured through key performance indicators, many of which are based on standard business data.
DTI minister Malcolm Wicks said: “Removing the OFR has reduced costs for business. But this does not mean companies shouldn’t report their performance on employee and environmental issues. Indeed, companies are increasingly reporting these issues. This is a trend we are keen to encourage and the new business review will stimulate this further”.
However, corporate requirements for reporting environmental and social issues will remain uncertain until after government consultations conclude on March 24 (see story on page 10). Contact Defra 08459 335 577 www.defra.gov.uk

CSR from the professionals

Freshfields Bruckhaus Deringer has published the first ever CSR report from an international law firm. Its initial report focuses on the company’s London practice but by 2007, Freshfields aims to produce a fully validated and externally audited CSR report that encompasses the whole firm.
Meanwhile, PricewaterhouseCoopers LLP has published its first ever community affairs report on February 15. Richard Collier-Keywood, the management board member with responsibility for community affairs said: “The report outlines the firm’s commitment to supporting the communities in which we work…We want to communicate our performance in this area as part of our wider commitment to being a transparent and open organisation. This report represents a step towards that”. Contact PwC www.pwc.com/uk; Freshfields www.freshfields.com

COMMENTS