Convincing Features
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Sustainability reporting is a report that is published by organizations to give details about the impact a company is having on the environmental, social, and economic structure of society. In the post-COVID-19 world, sustainability reporting would be more vital and bring renewed attention to the importance of corporate transparency on sustainability issues to sustain trust among all stakeholders. Due to the severe economic downturn, investors are demanding complete transparency, reliability, and consistency in company records. Therefore, investors and other stakeholders need to be kept updated and this update can be non-financial (sustainability) reports, which consider longer-term strategic matters.
The coronavirus pandemic has taken businesses by surprise. No business was ready for this huge crisis in terms of financial or reporting purposes. As a result, many organizations are modifying reports released in December of 2019 and adding some statements about coronavirus. Webpages and other such platforms are also being updated. More are helping different companies in Malaysia to release transparent financial records and determine the losses suffered due to the current pandemic.
Required:
Task 1
Based on relevant literature, prepare an essay reviewing the topic of sustainability reporting in the post-COVID-19 recovery. You are required to include in the review the development of the sustainability reporting concept (incorporate social and environmental reporting, corporate social responsibility reporting, and ethical reporting); and explore the perceived benefits expected from such reporting practices. Discussion is to be based on citation to reliable references wherever appropriate.
Task 2
With reference to relevant literature, critically evaluate whether the provision of non-financial information is compatible with the view that the social responsibility of a business is to increase profits in the post-COVID-19 recovery. In addition, examine the factors that could influence firms’ sustainability reporting practices in the post-COVID-19 recovery. Discussion is to be based on citation to reliable references wherever appropriate.
Task 3
Discuss the requirements of the Global Reporting Initiative (GRI) Sustainability Reporting Guidelines as a framework for sustainability reporting. Comments on how a sustainability report was written based on GRI may be useful to the respective stakeholders of the reporting company. Discussion is to be based on citation to reliable references wherever appropriate.
Task 4
Select one public company listed on Bursa Malaysia in a food and non-alcoholic beverages industry or clothing and footwear industry or restaurant and hotels industry (first come first serve basis). Based on the latest GRI REPORTING GUIDELINES explained in task 3 above, examine the sustainability reporting practices of the chosen company for the most recent TWO (2) years reporting period. You are required to assess the trends, area of focus, and extent of compliance with GRI over the reporting period in the post-COVID-19 recovery. Extracts of examples from the sustainability reporting are required to support your comments wherever relevant.
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