CARROTS AND STICKS – PROMOTING ... - Global Reporting Initiative

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22 Carrots and Sticks - Promoting Transparency and Sustainability 4.2 Regional Europe Standards, Codes and Guidelines information requests CDP seeks to encourage private and public sector organisations to measure, manage and reduce emissions and climate change impacts. A ‘responding company’ is a company that receives and responds to the CDP Information Request. A request covers: 1) Management’s views on the risks and opportunities that climate change presents to the business, 2) Greenhouse gas emissions accounting, 3) Management’s strategy to reduce emissions and/ or minimise risk and capitalise on opportunity; and 4) Corporate governance with regard to climate change. The response to the information request provides a high level of visibility and accountability to all stakeholders including institutional investors. Information received through the annual CDP questionnaire on a corporation’s greenhouse gas emissions is stored in the CDP’s database. The information is readily available to investors and stakeholders. www.cdproject.net Assurance standards � The International Standard on Assurance Engagements (ISAE) 3000, Assurance Engagements other than Audits or Reviews of Historical Financial Information was developed by the International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants (IFAC). IFAC is the body responsible for issuing international accounting and auditing standards for the accounting profession. ISAE 3000 came into force in December 2003 and is used by accounting firms to guide their assurance engagements on sustainability reports. www.ifac.org � AA1000 Assurance Standard (AA1000AS), 2008 issued by the UK-based AccountAbility provides a comprehensive approach to holding an organisation to account for its management, performance and reporting on sustainability issues by evaluating the adherence of an organisation to the AccountAbility Principles (AA1000APS) and the reliability of associated performance information. It was developed through a multi-stakeholder process and is designed to help ensure that reporting and assurance meets stakeholders’ needs and expectations. www.accountability.org.uk Mandatory standards � EU modernisation directive, 2003: Directive 2003/51 (the ‘Modernisation Directive’) amended the Accounting Directives and added that European companies are required to also include non-financial information in their annual and consolidated reports if it is necessary for an understanding of the company’s development, performance or position.
Country/Region Standards, Codes and Guidelines Such reporting should include environmental and employee matters and key performance indicators, where appropriate (in consistence with Commission Recommendation 2001/43/EC). Member States may choose to exempt small and medium-sized companies from those non-financial reporting obligations in their annual reports. Another amendment of the Accounting Directives (Directive 2006/46) introduced an obligation for listed companies to include a corporate governance statement in their annual report. By November 2009 all Member States have transposed the Modernisation Directive and most of the Member States have transposed Directive 2006/46 in their national laws. � The European Pollutant Release and Transfer Register (PRTR) established on the basis of the European PRTR Regulation 166/2006/EC, which came into force in February 2006. The Regulation has incorporated the provisions of the UN-ECE Protocol on Pollutant Release and Transfer Register under the Aarhus Convention, which was adopted at the Ministerial Conference ‘Environment for Europe’ in Kiev in May 2003 and has been ratified for the European Union by Council Decision 2006/61/EC. It requires operators of facilities undertaking activities specified in Annex I to report on emissions and specific substances. http://www.bipro.de/__prtr/index.htm � In accordance with the Integrated Pollution Prevention and Control Directive (IPPC), 1996 Member States are required to lay down permit conditions for operators to control, monitor and report emissions from IPPC installations. Member States also have to provide data on implementation to the Commission. http://ec.europa.eu/environment/air/pollutants/ stationary/ippc/summary.htm Voluntary standards The EU Eco-Management and Audit Scheme � (EMAS), 1995 is a management tool for companies and other organisations, requiring them to evaluate, report and improve their environmental performance. The scheme has been available for participation by companies since 1995 (Council Regulation (EEC) No. 1836/93 of 29 June 1993) on a voluntary basis. Originally it was restricted to companies in the industrial sector, but since 2001 it has been open to all economic sectors. It was revised in 2009 (Regulation EC No. 1221/2009). This revision came into effect on 11 January 2010. One of the aims of this revision was to strengthen the rules on reporting through core performance Carrots and Sticks - Promoting Transparency and Sustainability 23
Page 1 and 2: CARROTS AND STICKS - PROMOTING TRAN
Page 3 and 4: Contents Forewords 2 1 Executive Su
Page 5 and 6: Core environmental issues today - c
Page 7 and 8: in its regulatory role, to ensure a
Page 9 and 10: of the comprehensive “corporate s
Page 11 and 12: There is a large variety of regulat
Page 13 and 14: of the GRI sector supplements as we
Page 15 and 16: “The vision of the Danish Governm
Page 17 and 18: Emerging trends at the global level
Page 19 and 20: assurance standards are evolving wh
Page 21 and 22: Standards, Codes and Guidelines con
Page 23: Standards, Codes and Guidelines Eco
Page 27 and 28: Country/Region Standards, Codes and
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Country/Region Standards, Codes and
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5. Country profiles Carrots and Sti
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In June 1997 Herbert De Souza, Beti
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well as a list of companies that vi
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market-based instruments. A small p
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Figure 1: Issues addressed in susta
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Stock Exchange (Brazil) and the Joh
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Annex 1 1. Carrots and Sticks - Pro
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Power’ Options: How Governments C
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An external Advisory Committee cons
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Production Printing process: Printe
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