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

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60 Carrots and Sticks - Promoting Transparency and Sustainability Country/Region Standards, Codes and Guidelines Norway Portugal reports in the Netherlands although the scope of the engagement varies (not always the whole sustainability report). Mandatory standards � The Norwegian Accounting Act, 1998 requires the inclusion of working environment, gender equality and environment-related issues in the Director’s report. In addition it requires the implementation of measures that can prevent or reduce negative impacts or trends. This requirement applies to all Norwegian-registered companies, which are legally bound to keep accounting records and foreign companies carrying out activities in Norway, which are subject to Norwegian taxation. � The Norwegian White Paper “Corporate Social Responsibility in a Global Economy” (2009) announces the government’s intention to submit for consultation a bill proposing the introduction of an additional provision requiring the largest companies with an accounting obligation to state which ethical guidelines or standards for social responsibility they follow and what the company has done during the accounting year to follow its social responsibility. Companies that do not have any guidelines will be obliged to disclose this. Voluntary standards � Norwegian Code of Practice for Corporate Governance, 2007. The Oslo Stock Exchange, Oslo Børs, stipulates that all companies listed must publish a statement specifying what they have done to comply with the recommendations of the Code. In the White Paper “Corporate Social Responsibility in a Global Economy” (2009) the government urges the Norwegian Corporate Governance Board to incorporate recommendations concerning more detailed reporting of social responsibility in its “Norwegian Code of Practice for Corporate Governance”. http://www.nues.no/English/ Mandatory standards � The 29th Accounting Standard, 2004 issued by the Portuguese government will be replaced by the Financial Reporting Accounting Standard nº 26
Country/Region Standards, Codes and Guidelines South Africa from the 1st January 2010 onwards. It states that organisations are obliged to include environmental assets, provisions, investments and expenses in their financial statements. Even though it is compulsory, most of the companies do not present it in a separate way. � Sustainability Report, 2006 issued by the Portuguese Department of Transportation and Communications. The Portuguese Department of Transportation and Communications has made it compulsory for the companies that are under its guardianship to publish a sustainability report. � Social Balance, 1985. In addition to the annual report, all companies with more than 100 employees are obliged to issue a Social Balance, which includes information relative to employment, labourmanagement relations, occupational health and safety, training, and salaries. In the near future these reports will be mandatory for all companies with more than 10 employees. Mandatory standards � National Black Economic Empowerment Act, 2003. This Act sets out a national framework for the promotion of black economic empowerment (BEE) and requires progress reports to be submitted to government. Reporting against the criteria of this Act and the associated charters has driven the structure of some reports. http://www.thedti.gov.za/ � Employment Equity Act, 1998 seeks to eliminate unfair discrimination in the workplace and implement affirmative action for “designated groups”: black people, women, or people with disabilities. Annual reporting on progress is required. Companies, particularly in heavy industry, reflect the importance of the Act by reporting against the requirements of the Act. It is not, however, a major driver of reporting. www.info.gov.za/view/ DownloadFileAction?id=70714 � Companies Act, 2008 provides for holding directors personally liable for poor performance and poor public disclosure of information. Consequently it is expected to have an important impact on reporting. Accessible at: www.info.gov.za/view/ DynamicAction?pageid=544.za Carrots and Sticks - Promoting Transparency and Sustainability 61
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CARROTS AND STICKS - PROMOTING TRAN
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Contents Forewords 2 1 Executive Su
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Core environmental issues today - c
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in its regulatory role, to ensure a
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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 61: 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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