scholarly journals The company as a responsible corporate citizen: An analysis of the board’s commitment to sustainability

2011 ◽  
Vol 4 (1) ◽  
pp. 81-98 ◽  
Author(s):  
Ben Marx ◽  
Vanessa Van Dyk
Keyword(s):  
Boards Of Directors ◽  
Stock Exchange ◽  
Corporate Citizenship ◽  
Critical Role ◽  
Sustainability Reporting ◽  
Annual Reports ◽  
Socially Responsible ◽  
Specific Detail ◽  
Johannesburg Stock Exchange ◽  
Responsible Manner

Organisations are increasingly realising that they are members of a wider community and must therefore behave in a responsible manner. The boards of directors of organisations play a critical role in ensuring that companies conduct their business in a responsible and sustainable manner, and in providing accurate, reliable and credible reporting to their stakeholders.The objective of the paper is twofold: to provide a brief overview of the development of corporate citizenship, sustainability and sustainability reporting and the board’s role in this regard; and, secondly, to provide evidence regarding the board’s commitment to sustainability as disclosed in a company’s sustainability reporting. This is achieved through a literature review of current corporate governance and sustainability developments and practices. This review is supported by empirical evidence obtained from assessing the sustainability reporting of companies through a content analysis of the annual reports of companies listed on the Johannesburg Stock Exchange Limited’s Socially Responsible Index. The study found that sustainability and sustainability reporting are widely researched and advocated in the literature, and that companies report a commitment to sustainability, but that these reports lack specific detail concerning the board’s responsibility for and commitment to sustainability.

scholarly journals Integrated reporting vs. sustainability reporting for corporate responsibility in South Africa

2015 ◽  
Vol 29 (29) ◽  
pp. 7-17 ◽  
Author(s):  
Alexandra F. Clayton ◽  
Jayne M. Rogerson ◽  
Isaac Rampedi
Keyword(s):  
South Africa ◽  
South African ◽  
Stock Exchange ◽  
Sustainability Reporting ◽  
Annual Reports ◽  
Integrated Reporting ◽  
Corporate Reporting ◽  
And Performance ◽  
The Impact ◽  
Responsible Manner

AbstractLarge corporates have come under increasing pressure to conduct their business in a more transparent and responsible manner. In order for business to fulfil its obligations under the ethic of accountability stakeholders must be given relevant, timely, and understandable information about their activities through corporate reports. The conventional company reports on annual financial performance, sustainability and governance disclosures often fail to make the connection between the organisation’s strategy, its financial results and performance on environmental, social and governance issues. Recognising the inherent shortcomings of existing reporting models, there is a growing trend to move towards integrated reporting. South Africa has been one of the most innovative countries in terms of integrated corporate reporting. Since 2010 companies primarily listed on the country’s major stock exchange have been required to produce an integrated report as opposed to the former sustainability report. The aim in this study is to review the development of integrated reporting by large corporates in South Africa and assess the impact of the required transition from sustainability reporting to integrated reporting on non-financial disclosure of eight South African corporates using content analysis of annual reports.

scholarly journals Development of mandatory & voluntary instruments of sustainability reporting (SR) according to carrots & sticks 2006 - 2016

2020 ◽  
Vol 10 (1) ◽  
Author(s):  
Ririn Breliastiti
Keyword(s):  
Stock Exchange ◽  
Sustainability Reporting ◽  
Developed Countries ◽  
Asia Pacific ◽  
Annual Reports ◽  
Global Reporting Initiative ◽  
Environmental Reporting ◽  
Government Regulations ◽  
The World ◽  
The Government

Sustainability Report (SR) has become one of the main reports of the world's leading companies. In 2005, it was found that more than 250 top companies listed on the Fortune 500 had prepared SR separately from the Annual Report. The development of the number of SRs in each country varies. In the developed countries, awareness to compile and issue SR is supported by government regulations so that SR becomes mandatory. In developing countries, SR is still voluntary because there is still no regulation that requires companies to compile and issue SR. The Carrots & Sticks report, compiled and published by KPMG, United Nations Environment Program, Unit for Corporate Governance in Africa & the Global Reporting Initiative (GRI), provided details on the development of mandatory and voluntary instruments in implementing Sustainability Reporting (SR) in various Countries throughout the world from 2006 to 2016. Therefore, this research aims to find out the development of the mandatory and voluntary instruments (government policies) related to SR in the world. This type of research is a literature review. The research instrument used consists of a tabulation containing the development of the mandatory and voluntary instruments (government policy) related to SR in the world, then the researcher conducted an analysis of these findings. The results show that there is an increasing enthusiasm for the application of SR throughout the world. There is an increase in commitment and efforts to achieve transparency and accountability. In countries that have an interest in SR, there has been a significant development, such as 19 countries in 2006, 32 countries in 2010, 45 countries and regions in 2013, and 71 countries and regions in 2016. Indonesia is one of the countries in the Asia Pacific region that has given attention to SR and has its regulations. SR regulations have grown from 180 in 2013 to 400 in 2016, with government regulations dominating 80% of all regulations. Mandatory instruments dominate more than voluntary instruments. Application of SR 30% is for large companies that have been listed on the stock exchange. SR reporting by public companies has covered all sectors on the stock exchange. This development was greatly influenced by the role of the government which encouraged companies to disclose information about sustainability in their annual reports. "Social" reporting instruments show a faster development than "environmental" reporting instruments. 

scholarly journals The repurchase by a holding company of treasury shares held by subsidiaries: A South African perspective

2012 ◽  
Vol 43 (4) ◽  
pp. 33-44 ◽  
Author(s):  
N. Wesson ◽  
W. D. Hamman
Keyword(s):  
South African ◽  
Financial Reporting ◽  
Stock Exchange ◽  
Annual Reports ◽  
Share Repurchases ◽  
Share Repurchase ◽  
Financial Reporting Standards ◽  
Holding Company ◽  
Johannesburg Stock Exchange ◽  
The Uk

This study aims to establish whether the repurchasing of treasury shares by a holding company is a regular occurrence for companies listed on the Johannesburg Stock Exchange (JSE); whether these repurchasing companies have complied with the relevant legal and reporting requirements; and what their stated motivations were for these repurchases.In a sample of 251 companies listed on the JSE from 1999 till their 2009 financial year-end, 120 (47,8%) companies executed share repurchases. Thirty-six (30%) of the 120 companies repurchased treasury shares from their subsidiaries in 55 different transactions, representing 22% of the total number of shares repurchased.Companies which repurchase treasury shares do not always comply with the legal requirements (such as obligatory Security News Agency (SENS) announcements and circulars); and the accounting requirements of International Financial Reporting Standards (IFRS) (relevant to the disclosure of the reconciliation of the number of shares in issue) are applied in an inconsistent manner in annual reports. The most common reason for the repurchase of treasury shares was that the 10% limit (on treasury shares held by subsidiaries) had nearly been reached. Various business purposes were also given. Income tax implications did not seem to be a conclusive motivation for repurchasing treasury shares.The repurchase of treasury shares by the holding company is not allowed in most other countries, like the UK, and presents unique challenges to the South African share repurchase environment. More stringent application of the JSE Listing Requirements, as well as better guidance on the IFRS disclosure requirement on the reconciliation of the number of shares in issue, is needed in South Africa. This will enable stakeholders to make better-informed decisions and will also assist research on share repurchases.This material is based upon work supported financially by the National Research Foundation. However, any opinions, findings, conclusions and recommendations expressed in this article are those of the authors alone, and the NRF does not accept any liability in regard thereto.

scholarly journals How is using of the Indonesian Banking Environmental Disclosure with GRI?

2021 ◽  
Vol 6 (2) ◽  
pp. 135-146
Author(s):  
Rizky Windar Amelia ◽  
Aditya Pandu Wicaksana ◽  
Desi Zulvina ◽  
Syska Lady Sulistyowatie
Keyword(s):  
Content Analysis ◽  
Data Analysis ◽  
Stock Exchange ◽  
Statistical Tests ◽  
Sustainability Reporting ◽  
Annual Reports ◽  
Islamic Banking ◽  
Environmental Disclosure ◽  
Data Analysis Technique ◽  
Analysis Technique

This study aims to determine how the differences in environmental disclosure in conventional banking with Islamic banking using the GRI index. This study found that conventional banking has a higher environmental disclosure than Islamic banking. In addition, the results of this study state that the disclosure of the Islamic banking environment is more representative when using the ISR index when compared to the GRI index. The data used are in the form of annual reports and sustainability reporting of conventional banking companies and Islamic banking listed on the Indonesia Stock Exchange in 2019. The data analysis technique used in this study is content analysis and statistical tests to confirm the results. Keywords: environmental disclosure, GRI index, ISR index, Indonesian Banking

scholarly journals An exploratory study of the effect of country-by-country reporting ambiguities on Johannesburg Stock Exchange-listed companies

2018 ◽  
Vol 21 (1) ◽  
Author(s):  
Cara Thiart ◽  
George F. Nel
Keyword(s):  
South Africa ◽  
Financial Reporting ◽  
Multinational Enterprises ◽  
Stock Exchange ◽  
Listed Companies ◽  
Annual Reports ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Johannesburg Stock Exchange ◽  
Group Structures

Background: South Africa issued regulations implementing country-by-country (CbC) reporting standards for multinational enterprises (MNEs) on 23 December 2016. Country-by-country reporting will be applicable to all MNEs with a group revenue in excess of R10 billion. Aim: The aim of the study was twofold: to identify ambiguities that might influence the filing obligation and subsequent scope of CbC reporting in South Africa and to quantitatively measure the potential impact of any identified ambiguities. Setting: This study used data from Johannesburg Stock Exchange-listed companies. Methods: The study commences with a review of the relevant regulations and other applicable literature and continues with a quantitative analysis exploring alternative interpretations deduced from this review. Results: The review identified conflicting interpretations of how companies can be categorised as an MNE Group or not, as well as in measuring the revenue threshold. An analysis of the group structures and annual reports of a selected sample of 78 companies showed that the scope of CbC reporting will depend on the definitions applied to an MNE Group and revenue. Conclusion: Further guidance is needed to determine whether non-controlling entities must be considered as Constituent Entities, as well as how to measure revenue (i.e. whether only the International Financial Reporting Standards [IFRS] 15 revenue line item should be used or whether other income should also be included).

scholarly journals The levels of disclosure relating to mine closure obligations by platinum mining companies

2017 ◽  
Vol 20 (1) ◽  
Author(s):  
Joline Sturdy ◽  
Christo J. Cronje
Keyword(s):  
South Africa ◽  
Mine Drainage ◽  
Stock Exchange ◽  
Mineral Resources ◽  
Abandoned Mines ◽  
Annual Reports ◽  
Mine Closure ◽  
Mining Companies ◽  
Johannesburg Stock Exchange ◽  
Platinum Mining

Background: Mine closure obligations are economically significant, and the consequences of insufficient mine closure obligations are of public interest. The incidence of acid mine drainage and the high number of ownerless and abandoned mines in South Africa have brought the consequences of insufficient mine closure obligations in the mining sector into the spotlight.Aim: The aim of this study is to establish the extent to which platinum mines listed on the Johannesburg Stock Exchange (JSE) comply with a recommended disclosure framework.Setting: South Africa is the largest producer of platinum in the world. The study covers all platinum mines listed on the JSE.Methods: Using a framework, a census of the annual financial statements, integrated annual reports and sustainability reports or websites was conducted to determine the level of compliance of disclosure relating to mine closure obligations to the recommended disclosure framework.Results: The results show disclosure relating to mine closure obligations of platinum mines listed on the JSE is inconsistent and not sufficient for stakeholders to understand the scope, key assumptions, parameters or reliability of the assessment and calculation of mine closure obligations.Conclusion: The assumptions used to determine mine closure obligations are specialised and multi-disciplinary. The accuracy and reliability of mine closure obligations will improve dramatically through greater transparency and access to information. It is recommended that the JSE listings for mining companies should require a competent person’s report to provide disclosure on assumptions, key values and processes applied to determine the mine closure obligations. Furthermore, it is recommended that the Department of Mineral Resources implements a mechanism of independent assessment of mine closure obligations by experts on an ongoing basis.

scholarly journals Do the Banks Comply to GRI guidelines for Sustainable Reporting Practices? Empirical Evidence from Bangladesh

2020 ◽  
Vol 2 (2) ◽  
pp. 10-30
Author(s):  
Tanmay Biswas ◽  
Moudud-Ul-Huq Syed ◽  
Brishti Chakraborty ◽  
Reshma Pervin Lima ◽  
Shakila Jahan
Keyword(s):  
Stock Exchange ◽  
Theoretical Perspective ◽  
Sustainability Reporting ◽  
Annual Reports ◽  
Global Reporting Initiative ◽  
Public And Private ◽  
Reporting Practices ◽  
Secondary Sources ◽  
Commerce Law ◽  
Development Goals

This paper explores the degree and nature of sustainability reporting practices of listed banks in Bangladesh in compliance with the Global Reporting Initiative (GRI) guidelines. Data are gathered from annual reports through content analysis of 29 banks listed in the Dhaka   Stock   Exchange (DSE) and Chittagong Stock Exchange (CSE) for the period between 2011 and 2018. Stakeholder and legitimacy theory is the theoretical perspective underlying the study. The findings of the study revealed that 0% in 2011 and 17.14% in 2018 disclosed sustainability reports in line with GRI. On the other hand, the disclosure of sustainability information trend has increased from 32% in 2011 to 59% in 2018 considering 22 categories of information where most of the banks disclosed the highest information relating to green banking (C7) least information relating to public policy (C19). The major limitations of the study are the size of the sample, only secondary sources of data, and descriptive. This study only involved 29 listed banks in DSE and CSE. The policymakers (Bangladesh Bank, Ministry of finance, commerce, law, and environment), management of the respective organization, the NGOs, and professional accounting bodies can progress to enact and amend corporate laws for effective sustainable reporting design for the public and private entities. This research recognizes the gap of sustainable reporting practices to implement the vision of 5'ps (people, prosperity, partnership, peace, and the planet) according to UN Sustainable Development Goals (SDGs) 2030.

scholarly journals Cointegral Crystalization Of Triple Bottom Financial Reports And The Performance Of Hydrocarbon Companies

2021 ◽  
Vol 23 (11) ◽  
pp. 500-515
Author(s):  
Sunday A. Effiong ◽  
◽  
Ahakiri, F. Idiege ◽  
Fadenipo A. Adesola ◽  
Okoi, John Obono ◽  
...  
Keyword(s):  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Secondary Data ◽  
Sustainability Reporting ◽  
Mandatory Reporting ◽  
Least Square ◽  
Annual Reports ◽  
Environmental Disclosure ◽  
Bottom Line ◽  
Financial Reports

The study considered the co-integral consequences of Triple Bottom Line financial reports of listed hydrocarbon companies on their financial outlooks. It was conducted to evaluate the crystalized correlation of responsible hydrocarbon companies on their financial fortunes. In simple terms, the research looked for answers to the question of whether it is financially worthwhile for corporate citizens to be responsible. The study employed the expos facto design where secondary data were obtained from the annual reports of the listed hydrocarbon companies on the floor of the Nigerian Stock Exchange. The least-square multiple linear regression analysis methods were employed to establish the degree of financial crystallization consequential to the adoption of the triple bottom reporting format. Social, economic, and environmental reports of the studied listed hydrocarbon companies were co-integrated with the returns on assets of the companies, to establish the level of crystallization of the explanatory variables with the response variable. The crystallized results revealed that economic disclosure and environmental disclosure have limited significant crystallization characteristics on the returns on assets, while social disclosure showed significantly positive crystallization characteristics with returns on assets of the studied companies. Arising from these findings, therefore, the study recommended that a mandatory reporting framework be put in place for hydrocarbon companies listed on the floor of the Nigerian Stock Exchange to encourage sustainability reporting.

scholarly journals A survey of the extent of corporate social disclosure: the case of banking companies in India

2008 ◽  
Vol 5 (4) ◽  
pp. 452-458
Author(s):  
Mohammed Hossain ◽  
Mohmood Ahmed Momin
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Human Resource Development ◽  
Business Strategy ◽  
Banking Sector ◽  
Stock Exchange ◽  
Corporate Citizenship ◽  
Community Services ◽  
Annual Reports ◽  
Corporate Social

The study provides the level of corporate social responsibility disclosure of the Indian banking sector. Corporate citizenship is the business strategy that shapes the values underpinning a company’s mission and the choices made each day by its executives, managers and employees as they engage with society. The bank in the society plays not an important role in any country but also behave a good citizen. Within this framework we investigated 38 banks listed on the Mumbai Stock Exchange and considered only annual report for the year 2002-03. The result shows that Indian banks are disclosing considerable amount of social information in the annual reports. The study also reveals that almost 90per cent of sample banks disclose human resource development, staff training and social/community services information. The study at least has given a scenario of the position of corporate social responsibility in Indian and especially in banking sector which is practicing as a voluntarily and acted as corporate citizen. However, more in-depth study is needed to the financial sector in the developing countries in order to understand the status of the corporate social responsibility in the world as a whole

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