CARROTS AND STICKS – PROMOTING ... - Global Reporting Initiative
CARROTS AND STICKS – PROMOTING ... - Global Reporting Initiative
CARROTS AND STICKS – PROMOTING ... - Global Reporting Initiative
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64 Carrots and Sticks - Promoting Transparency and Sustainability<br />
Country/Region Standards, Codes and Guidelines<br />
South Korea<br />
Spain<br />
require reporting on sustainability issues. This has<br />
driven tabulated reporting on sustainability indicators<br />
in many parastatals. The role of the shareholder,<br />
being the government of South Africa, is to ensure<br />
that state-owned enterprises are efficient, well<br />
run and in a position to deliver on government’s<br />
mandate.<br />
Voluntary standards<br />
� Environmental <strong>Reporting</strong> Guidelines, 2004 were<br />
addressed by the Ministry of the Environment. They<br />
developed Environmental Risk Evaluation guidelines,<br />
Environmental Performance Evaluation guidelines,<br />
and Environmental Accounting guidelines.<br />
� Sustainability management (SM) report<br />
guidelines, 2006 reflecting domestic conditions<br />
were addressed by the Ministry of Knowledge<br />
Economy. With regard to Corporate Social<br />
Responsibility in Korea, the Korean government<br />
has adopted “sustainability management (SM)”<br />
as a legal term. Korea adopted SM later than the<br />
United States and Europe and there is an insufficient<br />
number of sustainability reports published (around<br />
150 as of April 2009). However, some Korean<br />
companies such as Samsung electronics, LG,<br />
POSCO, Hyundai Motors, etc., have developed a<br />
strategic approach to CSR.<br />
Mandatory standards<br />
The<br />
� Resolution of 25 March 2002 of the Institute<br />
of Auditing and Accounting states that organisations<br />
are obliged to include environmental assets,<br />
provisions, investments and expenses in their<br />
financial statements.<br />
In addition, the<br />
� National Accounting Plan, 2007<br />
for the Electricity Sector specifies environmental<br />
issues in more detail. The Spanish Inventory System<br />
(SEI) for air quality and protection of the atmosphere<br />
contains accumulated greenhouse gas emissions<br />
(GHG) and other atmospheric contaminants. It is the<br />
official inventory used to track air pollution and is<br />
used to comply with Spain’s reporting requirements<br />
derived from international conventions on climate<br />
change (Kyoto Protocol), in Geneva (regarding
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