PART 3 – WORD LIMIT (1500+/-100) NEW REPORT ON CORPORATE SUSTAINABILITY REPORTIN
ID: 153470 • Letter: P
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PART 3 – WORD LIMIT (1500+/-100) NEW REPORT ON CORPORATE SUSTAINABILITY REPORTING IN AUSTRALIA A new report – Corporate Sustainability Reporting in Australia – has found corporate sustainability reporting (including economic, environmental, social and governance risks) is improving, but significant gaps remain including in relation to climate-related disclosures. The report, compiled by the Australian Council of Superannuation Investors (ACSI), provides annual analysis of sustainability reporting efforts by the ASX200. This year’s report, which looked at 2016 disclosures, found that most ASX200 companies see the value in sustainability disclosure with 92% undertaking some reporting. The report also found that high standards of sustainability disclosure are increasingly the norm, with over 50% of the ASX200 now reporting to a “Leading” or “Detailed” level (compared to 19.5% in 2008). Further, eighty-five cents in every dollar invested in the ASX200 flows to companies that report to a high standard. In terms of reporting frameworks, an increasing number of ASX200 companies are now apply the GRI Standards. In an emerging trend, 19 of the ASX200 used or referred to the Sustainable Development Goals as a framework. There is still room for improvement though. 42% of ASX200 companies received a “Basic” or “Moderate” rating, and 8% did not undertake any sustainability disclosure. ACSI’s Chief Executive, Louise Davidson, said, “The ongoing challenge for ACSI is to embed greater meaning into companies’ sustainability disclosure. We want companies to identify the sustainability risks they face and articulate the steps they are taking to address them.” This year, ACSI’s report also specifically looked at climate related disclosures, noting four key developments which have increased the prominence of climate risk and disclosure in the Australian investment community: the Financial Stability Board’s Taskforce on ClimateRelated Financial Disclosures (TCFD), Australia’s ratification of the Paris Agreement, the legal opinion from Novel Hutley SC on climate risk and director duties, and the speech from APRA board member Geoff Summerhayes around the regulator’s expectations in this space. More than half of the ASX200 (58%) reported greenhouse gas emissions, and 44% had a policy statement or other statement acknowledging climate change as a risk. However, only 24% disclosed a climate-related or energy efficiency target, and 35% did not measure GHG emissions, have a policy or statement on climate-related risk or a related target in 2016. ACSI is encouraging companies to adopt the best practice framework developed by the Financial Stability Board’s Task Force on Climate-related Financial Disclosures Follow the below link for the full report: 4 https://www.acsi.org.au/images/stories/ACSIDocuments/generalresearchpublic/2017- Sustainability-Report-FINAL.pdf (Source: Global Compact Network Australia, News, 11 July 2017) You are required to: Critically examine the importance of sustainable reporting by organisations and compare and contrast different local and international sustainable reporting frameworks (10 marks) Notes: Students are strongly advised to support your answers by findings of academic studies. Read at least three academic Journal articles related to sustainable reporting and provide citations appropriately.
Explanation / Answer
THE sustainability development goals are a call for action by all countries poor, rich and middle income to promote prosperity while protecting the planet .They recognise that ending poverty must go hand in hand with strategies that build economic growth and addresses a range of social needs including education health social protection and job opportunities while tackling climate change and worldwide environmental protection. The sustainable developmentg goals are the blueprint to achieve a better and more sustainable future for all.They address the Global challenges we face ,including those related to poverty,inequality ,climate environmental degradation ,prosperity and peace and Justice . The goal interconnect and in order to leave no one behind it is important that we achieve each goal and target by 2030.
I am taking UN study report for comparing.
No poverty-----while Global poverty rates have been cut by more than half since 2000 .1 in 10 people in developing regions are still living with their families on less than the international poverty lines of US$1.90 a day., and there are millions who make little more than this daily amount. Significant significant progress has been made in many countries within Eastern and South Eastern Asia but UPTU 42% of the population in sub-saharan Africa continue to live below poverty line. Poverty is more than the lack of income and resources to ensure a sustainable livelihood. It's manifestation includes hunger and malnutrition Limited access to education and other basic service social discrimination and exclusion as well as the lack of participation in decision making. economic growth must be inclusive to providing sustainable jobs and promote equality. Social protection system need to be implemented, support in case of disaster and support in case of economic risk.
Facts and figures
783 million people live below the international poverty line of US dollar 1.90 a day.
In 2016 . Almost 10% of the worlds workers live with their families all less than US $1.90 per person per day.
Globally there are 122 to women aged 25 to 34 living in extreme poverty for every hundred man of the same age group.
Most people living below the poverty line belong to two regions Southern Asia and sub Saharan Africa.
Higher poverty rates are often found in small fridge oil and conflict affected countries.
1 in four children under age 5 in the world as inadequate height for his or her age.
As of 2016 only 45% of the world's population effectively covered by at least one social protection cash benefit.
In 2017 economic losses due to disaster including three major hurricanes in USA and the Caribbean estimated at over 300 billion dollars.
Zero hunger-----right now or soil ,freshwater, Ocean, forest, and biodiversity are being rapidly degraded. Climate change is is putting even more pressure on the resources we depend on, increasing risk associated with disaster such as drought and floods. Many rural men and women can no longer make ends meet on their land, forcing them to migrate to cities in search of opportunities. Poor food securities is also causing million of children to be stunt or too short for the age due to severe malnutrition. A profound change of global Food and Agriculture system is needed if we are to nourish the 815 million people who are hungry today and the additional 2 billion people expected to be undernourished by 2050. Investment in agriculture are crucial to increasing the capacity for agriculture productivity and sustainable food production system are necessary to help alleviate the perils of Hunger.
Facts and figures------
Globally 1 in 9 person in the world today or undernourished.
The majority of the worlds hungry people live in developing countries where 12.9 percent of the population is undernourished.
Asia is the continent with the hungriest people two third of the total. The percentage in Southern Asia Has Fallen in recent years but in Western Asia it has increased slightly.
Southern Asia faces the greatest hunger burden with about 28 1 million undernourished people.
Poor nutrition causes nearly half 45% of the death in children under 5 that is 3.1 million 3.1 million children eche year.
One info of the word children Suffer stunt growth. In developing countries the proportion can raise to 1 in 3.
66 million primary school age children attend classes hungry across the developing world with 23 million in Africa alone.
GoodHealth and we'll being.
Ensuring healthy lives and promoting the well being at all ages is essential to sustainable development. Significant stride have been made in increasing life expectancy and and reducing some of the common killers associated with child and maternal mortality but working towards achieving the target of less than 70 maternal deaths per100000 live births by 2030 would require improvement in skilled delivery care. Many more efforts are needed to fully eradicate a wide range of diseases and address many different persistent and emerging health issues.By focusing on providing more efficient funding system, improved sanitation and hygiene increased access to physicians and more tips on waste reduce ambient pollution, significant progress can be made in helping to save the lives of millions.
Facts and figures------
Child health------
17000 for children die each day then in 1990 but more than 5 million children's till die before their 5th birthday each year.
Since 2000 measles vaccine have averted nearly 15.6 million deaths.
despite determined Global progress and increasing proportion of child deaths are in sub-saharan Africa and Southern Asia four out of every five death of children under age 5 occur in these regions.
Children born into poverty are almost twice as likely to die before the age of 5 as those from wealthier families.
children of educated mothers even mothers with only primary schooling are more likely to survive than children of mothers with no education.
Maternal health------
Maternal mortality Has Fallen by 37% since 2000.
In Eastern Asia ,Northern Africa, and Southern Asia maternal mortality has declined by around two thirds.
More women are receiving antenatal care. In developing regions , antenatal care increased from 65% in in 1990 to 83 percentage in 2012.
Only half of the women in developing countries receive the recommended amount of Healthcare they need.
Fewer teens are having children in most developing regions but progress has slowed. The large increase in contraceptive use in the 1990 was not matched in the 2000.
the need for the family planning is slowly being made for more women but demand is increasing at a rapid pace.
HIV/Aids, malaria and other diseases.
7 billion people globally living with HIV in in 2016. Out of which 2.1 million or children under 15.
1 million people have become infected with HIV since the start of epidemic.
Tuberculosis remains the leading cause of death among people living with HIV accounting for around 1 in 3 Aids relater death.
Quantity education-------
obtaining a quality education is the foundation to create sustainable development in addition to improving quality of life access to inclusive education can help equip locals with the tools required to develop innovative solution to the world's greatest problem.
Over 265 million children are currently out of school and 22% of them are primary school age additional e even the children who are attending schools are lacking basic skills in reading and maths. There is increase in enrollment rate in school particular for women and girls. The reason for lack of quality education are due to lack of adequate trained teachers. poor conditions of schools and equity equity issues and and opportunities provided to rural children.
Climate action-------
Climate change is no affecting every country on every continent. It is disrupting National economics and affecting lives costing people communities and countries dearly today and even more tomorrow. Weather patterns are changing ,sea level are rising, weather events are becoming more extremes and greenhouse gas emission are now at their highest level in the history. Without action the world's average surface temperature is likely to surpass 3 degree centigrade the century. Affordable scalable solutions are now being available to enable countries to leapfrog to clear cleaner more resilient economies. The pace of change is quickening as more people are turning to renewable energy and a range of other measures that will reduce emission and increase adaptation efforts. climate change however is a global challenge that does not respect National boundaries. It is an issue that required solution that need to be coordinated at the international level tot help developing countries move towards a low carbon economy. To strengthen the Global Response to the threat of climate change countries adopted the Paris agreement at the COP21 in Paris. Which went into force in November 2016. In the agreement all the countries agreed to work to Limit Global temperature tries to well below 2 degree centigrade. As of April 2018 ,175 parties had ratified the Paris agreement and 10 developing countries had submitted their first report of their national adaptation plans for responding to climate change.
Facts and figures------
From 1880 to 2012 , average Global Global temperature increased by. 85 C.
To put this into perspective each one degree of temperature increase grains yields declined by about 5%. Maize wheat andand other major crops have experienced significant yield reduction at the global level of 40 megatons between 1981 and 2002. Due to warm climate.
Oceans have warmed the amounts of snow and ice have diminished and sea level has risen. From 1901 to 2010 the Global average sea level Rose by 19 CM as oceans expand due to warming and ice melt. The Arctic sea ice extent has shrunk in every successive decades since 1979 with 1.07 millionkm2 of ice loss every decade.
Given current concentration and. Ongoing emission of greenhouse gases.it is likely that by the end of the century the increase in global temperature will exceed 1.5degree centigrade.compared to 1850 to 1900 for all but one scenario. The world's Ocean will warm and ice melt will continue .average sea level rise is dictate at 24 to 30 cm by 2065 and 40- 63 CMS by 2100. Most aspects of Climate Change will persist for many centuries even if emission has are stopped.
Global emission of carbon have increased by almost 50% since 1990.
Emission grow more quickly between 2000 and2010 then in each of the three previous decades.
It is still possible using a wide area of technological measures and change in behaviour to limit the increase in global mean temperature to 2 degree Celsius above pre industrial level.
Major institutional and technological changes will give a better then even chance that global warming will not exceed this threshold.
Conserve and sustainable use the ocean,sea and marine resources
The world ocean day temperature chemistry current and life drive
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