While there are many different tools and techniques that can be applied to analyze data and spis, two that have specific relevance to sustainability reporting are normalization and benchmarking. Normalization Normalization is the process of removing the impact of factors that may influence direct comparison of spis. For example, weather impacts the energy use of a building and varies from year to year. Frequently, an annual energy use spi will be normalized for weather (e.g., controlled for the coldness of a winter season) to allow for relevant comparison of energy use from one year to the next. Ghg emissions Another frequent application of normalization for companies is to document greenhouse gas (GHG) emissions on the basis of unit of output rather than an absolute number. Growing companies with increasing activities may have rising absolute ghg emissions, even as they are successfully taking actions to reduce their environmental impact on a per unit or consumption basis. Normalizing ghg emissions for output, such as pounds of CO2 per unit produced, can highlight the impact of companies efforts to reduce energy that otherwise would be masked by just considering absolute emissions.
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The vegetarian evaluation phase includes organizing, synthesizing, and aggregating data. Data analysis is then performed to provide insight by converting data facts into useful knowledge. This includes calculation of spis. Analysis of data is required before performance can be interpreted. Reporting and communication, a component of performance evaluation, is the dissemination of information to stakeholders in a form that they can understand results and their implications and realize what actions are needed. Data Analysis Data analysis can include a variety of techniques including database-driven reporting, spreadsheet analysis, and statistical tests. A business analyst is typically involved in managing this aspect of the sustainable reporting process, and they require both business and technical skills to perform their job. Often the data analysis involves looking for trends when analyzing spis. It can also include comparing performance with a goal or standard or to competitors. This typically involves comparing a performance measure to a baseline.
Data needs to be collected, validated for accuracy, and stored (typically using database technology or computer spreadsheets). Data collection processes must be straightforward and data must be collected systematically and consistently. Sometimes multiple data sources may be required to offset limitations in any one source of first data. In this phase, it is important to assign responsibility of data collection to ensure that it is being collected correctly. This includes quality control to ensure that data are accurate. For example, errors in measurement devices or communication can lead to false data being collected. As the popular saying goes, garbage in, garbage out, which means that that the quality of the analysis is only as accurate or insightful as the quality of the information analyzed. Evaluate performance The goal of the evaluation phase is to convert raw data into useful performance information and knowledge so that organizations can make informed decisions. Key components of the evaluation phase are data compilation, data analysis, and communication.
Sustainable return on Investment. Spis can be used in determining the projects that a business undertakes. Under traditional business finance, a project-such as the purchase of a new piece of equipment would be considered using financial measures, such as payback or return on investment. Spis can be used to calculate a sustainable return on investment (sroi). Sroi determines the full value of a project by assigning monetary values to environmental and social indicators. This allows for the calculation of full costs and benefits of a project to be evaluated and may result in approving projects that would fail traditional financial tests or in not gps moving forward with projects even though their traditional financial measures would support the project. Measure performance, once spis are established and business processes are modified to allow for the necessary data to be captured and recorded, the process of measurement begins.
Energy Use spi, annual organizational energy use is one of the most common spis in sustainability reporting. Greenhouse gas (GHG) emissions, another very common spi, can be calculated from energy usage. Utility bills, such as natural gas or electricity, are the typical data source for energy use. Utility bills provide both cost and quantity of fuel consumed during the billing period (typically one month). Organizations typically are already recording energy cost information into their financial information systems but usually do not enter any information on the amount of energy used. Information on energy used is necessary to calculate an annual energy use spi. Therefore organizations interested in tracking energy and ghg emission information need to modify their business processes and information systems to not only collect energy consumption information. Organizations should take into account the cost and effort required to modify business processes to accommodate the new data requirements when deciding what spis to measure.
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Spis can be further categorized into the three areas covering either the economic, ecological, or social aspects of sustainability. Ghg emissions, water usage, resource depletion, waste generated, pollutants released, biodiversity, and land use. Social Performance Indicator, labor practices, human rights, diversity, philanthropy, wages, and benefits. Economic Performance Indicator, company turnover, profit, quantity of products sold, and market share. Spi examples, a company may select annual net income, annual workplace accidents, and annual water usage as spis.
Annual net income is an economic paper performance indicator to measure the financial progress of the company. Annual workplace accidents are a social performance indicator to measure a companys progress in providing a safe work environment for its employees. Annual water usage is an ecological performance indicator to record the progress a company is making in reducing water usage as a way of protecting the environment. Resources, goal and spi selection can become overwhelming to an organization given the wide reach of sustainability reporting; fortunately, there are well-developed resources available on sustainability goals and metrics. Companies do not need to reinvent the wheel in regards to performance indicator selection. Common sustainability frameworks are available that can help companies choose important spis. Companies can also contract with consultants who specialize in sustainability reporting to assist with prioritization and goal establishment.
Is the goal of the company to change the world? Or is it more simply to document the companys progress on environmental and social impacts? Is the audience for the reporting internal, external, or both? A company will need to evaluate whether its focus is on continuous improvement in its own individual actions or if it is measuring its performance relative to a broader target, such as a reduction in greenhouse gas (GHG) emissions. Key performance Indicators, the next step is to develop key performance indicators (KPIs) that will be used to measure progress toward those goals. A key performance indicator is a performance measure from operational data that is used by organizations to track a particular activity.
Companies need to take into account their financial, human, and information technology resources when selecting kpis. Data collection cost must be factored into performance metric selection. This includes the availability of data and cost to integrate into existing information systems and existing business processes. For some metrics, the business cost may be too high to justify the changes necessary to collect the data required. Smart, there are different methods for establishing kpis, but one typical method is the smart criteria. In smart, a measure has a specific business purpose and is measurable, achievable, and relevant to the success of the organization and can be measured over a specific period of time. Sustainable performance Indicators, in sustainability reporting, a kpi is referred to as a sustainable performance indicator (SPI). Spis are used as a tool to measure a companys sustainability performance and to monitor and report on future progress.
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Steps in the sustainability reporting Cycle. Define performance goals and metrics, measure performance (data collection evaluate performance (includes analysis and reporting). Manage performance, define performance goals and Metrics, the first step is to define the sustainability goals of the company. This is an important action and should guide the rest of the process. While sustainability reporting is meant to be broad and comprehensive to provide a remote full 360 degree view of the company or documentation of the complete ecological and societal impact of a company, it must be bound at a level that is pragmatic and appropriately focused. Typically resource limitations will require a company to take a phased in approach where it focuses on the areas of higher impact and importance and gradually expands to areas of lower impact and importance. Organizations should put their resources into collecting the information that is most relevant to their sustainability efforts. The company should have an overall vision of why it wants to integrate sustainability efforts into its business operations.
Accountability, sustainability reporting Process, sustainability reporting Steps, the process for sustainability reporting is similar to all performance-based business management processes. It involves the same steps, including goal setting, measurement, analysis, and action, but differs in the type of information collected. As with any business initiative, it is essential that management be supportive-in this case of sustainability-and that management provides the necessary financial, technical, and human resources to support each step of the process. The success of sustainability reporting depends on the commitment of the senior management in the organization. Information technology is a major consideration in sustainability reporting. Businesses should be prepared to effectively manage the large amount of information related to sustainability and need to have information systems that can help to integrate sustainability information into their existing corporate reporting systems. These information systems must be designed to communicate performance metrics to decision makers throughout the organization. Large corporate software vendors, such as sap and Oracle, which provide traditional business software, have integrated sustainability modules that help businesses with measuring their social and environmental performance data. In addition, a variety of custom reviews software applications are available to assist businesses with measuring their environmental and social impact.
reporting Program can be abbreviated as srp. Srp - sustainability reporting Program in Undefined. Image source: Image html: html with link: Share this picture: Most popular questions people look for before coming to this page. You can also look at abbreviations and acronyms with word srp in term. Abbreviations or Slang with similar meaning). Sustainable business - managing Finances, human Resources and Accountability - sustainability reporting Process.
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Accounting, auditing accountability journal, emerald Article: Sustainability accounting and reporting: fad or trend? Article information: to cite this document: Roger. Burritt, Stefan Schaltegger, (2010 Sustainability accounting and reporting: fad or trend? Accounting, auditing accountability journal, vol. 23 Iss:. Permanent link to this document:. Org/10.1108/ Downloaded on: references: This document contains references to 57 other the documents Citations: This document has been cited by 12 other documents to copy this document: This document has been downloaded 5947 times since 2010.