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

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40 Carrots and Sticks - Promoting Transparency and Sustainability Country/Region Standards, Codes and Guidelines Ecuador intellectual capital in the management’s review was included in the Financial Statements Act in 2001. In 2009 these requirements were expanded to also include CSR in general. According to a new section 99A in the Financial Statements Act stateowned companies and companies with total assets of more than EUR 19 million, revenues more than EUR 38 million and more than 250 employees must report on their responsibility to society (CSR). The new requirements on mandatory CSR reporting are required for financial statements for 2009 and onwards. The new rules for 2009 and onwards are expected to have an impact, as all the companies encompassed by the new rules must consider their approach to CSR and report about this approach. The explanatory notes to the amended law and accompanying guidance documents refer to and encourage the use of the Global Reporting Initiative Sustainability Reporting Guidelines. www.eogs.dk Voluntary standards � The Social Index, 2000 is a tool for measuring a company’s degree of social responsibility on a score from 0 to 100. It requires external verification and certification to use the Social Index for external reporting. 27 organisations and companies have joined the Social Index, which mainly has an influence on companies’ responsibility for employees. Now PriceWaterhouseCoopers has the secretariat for the Index. www.detsocialeindeks.dk Mandatory standards Environmental Management Law, 1999 � issued by the Ministry of Environment. This law sets the principles and guidelines of the environmental policy. It determines the obligations, responsibilities, level of participation of the public and private sectors in environmental management, and states allowable limits controls and sanctions on this matter. Art 40. – Any natural or legal person that, during business or industrial activities, determines that they could cause or are causing environmental damage to ecosystems, must inform the Ministry in charge. www.ambiente.gov.ec Both of the regulations outlined below are based on the
Country/Region Standards, Codes and Guidelines above legislation. Regulation of the Environmental Management Law for the Prevention and Control of Environmental Contamination, 2002 issued by the Ministry of Environment. This regulation sets the permits granted to activities that have an impact on the environment. Art 98. – Annual Report. – The company or natural person that causes discharges, emissions or spills towards the environment, including sewer systems, shall report them at least once a year to the entity that issues the permit for discharges, emissions and spills, in order to obtain the corresponding management administrative authorisations. www.ambiente.gov.ec. � Environmental Regulation for Hydrocarbon Activities, 2001 issued by the Ministry of Environment, and Ministry of Energy and Mines. This regulation aims to regulate hydrocarbon activities related to exploration, development and production, storage, transportation, industrialisation and commercialisation of crude oil, oil derivatives, natural gas and related activities that are susceptible to causing environmental impacts in the area of direct influence, in each case defined by the corresponding environmental analysis. Art 11. – Annual Environmental Report. – Before January 31st every year, control subjects shall present the annual report of environmental activities performed during the previous year, as part of the annual report of contract activities. This report shall describe and assess budgeted environmental activities executed, in relation to the ones that are part of the abovereferred annual schedule of activities. www.ceda.org.ec � Mining Law, 2009 issued by the Sector Ministry, the National Mining Company, and the Regulations and Control Body. This mining law regulates the sovereign rights of the Ecuadorian State to manage, regulate and control the strategic mining sector, in accordance with the principles of sustainability, precaution, prevention and efficiency. This law excludes oil and other hydrocarbons. Art 47. – Halfyearly reports. – Those entitled to benefit (smelting and refining plants) shall present half-yearly reports of their activities to the Sector Ministry, including the information required by the relevant authority, with a summary of the investments and Carrots and Sticks - Promoting Transparency and Sustainability 41
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 and 24: Standards, Codes and Guidelines Eco
Page 25 and 26: Country/Region Standards, Codes and
Page 41: Country/Region Standards, Codes and
Page 77 and 78: 5. Country profiles Carrots and Sti
Page 79 and 80: In June 1997 Herbert De Souza, Beti
Page 81 and 82: well as a list of companies that vi
Page 83 and 84: market-based instruments. A small p
Page 85 and 86: Figure 1: Issues addressed in susta
Page 87 and 88: Stock Exchange (Brazil) and the Joh
Page 89 and 90: Annex 1 1. Carrots and Sticks - Pro
Page 91 and 92: Power’ Options: How Governments C
Page 93 and 94:
An external Advisory Committee cons
Page 95 and 96:
Production Printing process: Printe
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CARROTS AND STICKS – PROMOTING ... - Global Reporting Initiative

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