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

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54 Carrots and Sticks - Promoting Transparency and Sustainability Country/Region Standards, Codes and Guidelines Luxembourg set out the definitions and calculation methods for environmental performance indicators to be disclosed. Major revisions aside from that include the following: (1) If companies wish to report in accordance with the guidelines they are required, amongst other things, to: include summary lists and tables for major indicators; report on the status of environmentally conscious investment or financing, and report on the status of biodiversity conservation and sustainable use of biological resources. (2) Companies are recommended to take measures for improving the reliability of environmental reporting and prepare an environmental report with a greater focus on stakeholders’ views. www.env.go.jp Assurance standards � Practical Guidelines for the Assurance of Sustainability Information, 2007 issued by the Japanese Association of Assurance Organisations for Sustainability. The guidelines set out specific steps and procedures to be followed in assurance engagements of sustainability information. The Guidelines are broadly consistent with ISAE3000. Members of the Japanese Association of Assurance Organisations for Sustainability include not only accounting firms but also some certification bodies. The guidelines have helped narrow the gap between accounting firms’ assurance procedures and those of certification bodies. http://www.j-sus.org/index.htm Voluntary standards The Ten Principles of Corporate Governance, � 2006 issued by the Luxembourg Stock Exchange. These principles were initiated following the European Commission launch of an Action Plan aimed at enhancing corporate governance within the European Union in 2003. The scope is to be in line with international practice and the recommendations of the European Commission, whilst taking into account the interests of all the stakeholders. The Ten Principles and their recommendations are highly flexible and are based on a “comply or explain” system. These principles are complementary to
Country/Region Standards, Codes and Guidelines Mexico Luxembourg legislation. The Ten Principles are broken down into recommendations with principles. Recommendation 1.1 “Corporate governance framework” highlights that companies should disclose the essential aspects of their corporate governance framework in their Corporate Governance (CG) Charter. Recommendation 1.6 specifies that the CG Charter should be updated as often as necessary to accurately reflect at all times the company’s corporate governance framework. It should be posted on the company’s website, with an indication of when it was last updated. Recommendation 1.7 specifies that companies should publish a CG Chapter in their annual report, describing all the relevant events connected with corporate governance that took place in the preceding financial year. If the company does not fully implement one or more of the recommendations, it should explain its decision in the CG Chapter of its annual report. http://www.bourse.lu/application;JSESSIONID_BD L=CgR9KvLVfvSyJNDwytTyJH2yn72THnFbY7wm7 GVQGf5GNfv5r6Gx!-1750491907!-1686929846?_f lowId=PageStatiqueFlow&content=services/ CorporateGovernance.jsp Voluntary standards Clean Industry Certificate (CIL), 1997. � CIL is the result of the environmental/operational improvement of companies, motivated by the National Program of Environmental Audit that the Federal Environmental Protection Agency is implementing. This voluntary audit was implemented as a result of the General Law on Ecological Equilibrium. From the beginning to date, 7,616 CILs have been awarded by the federal authority, and during 2008, 902 CILs were awarded. The CIL was the first certificate on environmental themes to be developed in Mexico and, because of this, it has become an obligatory reference for Mexican companies, mainly for those whose industrial processes generate a big volume or concentration of toxic waste. Currently, it is a trusted ‘voluntary certificate’ with high acceptance by the interest groups linked to environmental issues and therefore, for the companies concerned, it is of great Carrots and Sticks - Promoting Transparency and Sustainability 55
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CARROTS AND STICKS - PROMOTING TRAN
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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 55: 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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