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Companies that go "Beyond Reporting" create business value, new report says
Companies now invest heavily in time and money to comply with increased levels of regulation and expectations of improved corporate governance. Yet the push to make companies more “accountable,” either through legislation or voluntary compliance with guidelines, has been slow to inspire confidence among investors and other stakeholders. Critics continue to find fault with big business for not being accountable enough or insufficiently transparent. In response to this issue, a new report from the WBCSD, “Beyond Reporting” explores how companies can obtain value and restore trust by understanding the relationship between accountability and sustainability and their core business strategy. According to “Beyond Reporting,” companies that find value in the sea of reporting, codes and guidelines associated with compliance and corporate social responsibility:
Project Co-chair Travis Engen, President and Chief Executive Officer of Alcan Inc. says, "Everyone wants a simple answer to accountability and reporting but none exists. Each company must define a solution based on their own long-term performance strategy." "Leading companies build sustainable businesses by embedding strong governance and corporate responsibility into their strategies and culture. By earning the trust of their employees, communities, trading partners and the capital markets companies with a culture of corporate responsibility are able to generate value where others cannot." said Samuel A. DiPiazza, global CEO of PricewaterhouseCoopers, the project’s other co-chair. The report looks at the current corporate governance agenda from a unique vantage point, by business for business, and concludes the WBCSD’s broader project on the issue of accountability & reporting. Over 60 WBCSD member companies, accountability specialists and investors participated in this work. Previous WBCSD efforts on this topic include the 2002 report, Striking a Balance. Beyond Reporting has been co-authored by leading companies Alcan, Caterpillar, Environmental Resource Management (ERM), and PricewaterhouseCoopers LLP. WBCSD provides business leadership as a catalyst for change towards sustainable development by promoting the role of eco-efficiency, innovation and corporate social responsibility in business. Through targeted projects, reports and widely circulated e-newsletters, the WBCSD offers companies a platform where they can share best practices. Alcan is a multinational, market-driven company and a global leader in aluminium and packaging, as well as aluminium recycling. With world-class operations in primary aluminium, fabricated aluminium as well as flexible and specialty packaging, aerospace applications, bauxite mining and alumina processing, today’s Alcan is well positioned to meet and exceed its customers' needs for innovative solutions and service. Alcan employs 70,000 people and has operating facilities in 55 countries and regions. PricewaterhouseCoopers is the world's largest professional services organisation. Drawing on the knowledge and skills of more than 122,000 people in 144 countries, we build relationships by providing services based on quality and integrity. "PricewaterhouseCoopers" refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity. Further information
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