In the run-up to next year’s World Summit on Sustainable Development (WSSD), the United Nations Environment Programme (UNEP) has commissioned the Association of Chartered Certified Accountants (ACCA) to assess whether the global accounting profession is meeting the challenges set down at the first Earth Summit in Rio in 1992.
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Companies to be included in the new UK and European tradable FTSE4Good index series will be named by FTSE on Tuesday July 10. On the same day Close Fund Management will also launch the FTSE4Good UK Fund , the first of “The Official Funds for the FTSE4Good indices”. The FTSE4Good indices will go live on Tuesday July 31. Early indications of the index design were released today, following the FTSE4Good Advisory Committee’s confirmation of selection criteria and exclusions.
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The European Commission has delayed the publication of a green paper on a European-wide framework for corporate social responsibility (CSR) that was scheduled for 3 July. Employment and Social Affairs Commissioner Diamantopoulou and Enterprise Commissioner Liikanen were due to present the CSR green paper to the European Parliament in Strasbourg after its planned adoption at the weekly Commission meeting. It is understood that the delay is due to the complex nature of CSR that cuts across a number of policy areas making agreement on a final text between the various Commission DGs involved difficult.
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(Published in The Financial Times of 26 june 2001)
Investors are behind an upsurge in auditing for ethics, says Alison Maitland
The UK-based chip designer ARM Holdings thinks it is doing pretty well by its shareholders, staff, customers and local community. Why then does it feel the need to submit to an independent audit?
Primarily because of mounting pressure from institutional investors, says Jonathan Brooks, chief financial officer of ARM, which joined the FTSE 100 index in 1999 and has been trading for only a decade.
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A new update from GRI, the Global Reporting Initiative for sustainability reporting guidelines.
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csr network, the international corporate social responsibility specialist, is launching its 2001 Benchmark Survey on “The State of Global Environmental and Social Reporting” in early July. As these issues climb higher up the corporate reputation agenda, the document has been in great demand amongst senior marketing and communication directors. In essence, the survey provides unique insights into the environmental and social reporting practices of the 100 largest firms (G100) in Fortune magazine’s Global 500.
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The European Commission has adopted a Recommendation on recognition, measurement and disclosure of environmental issues in the annual accounts and annual reports of EU companies. The Recommendation clarifies existing EU accounting rules and provides guidance to improve the quality, transparency and comparability of environmental data available in companies’ annual accounts and annual reports. The current lack of a common set of rules and definitions means that environmental information disclosed by companies is often inadequate and unreliable. This makes it difficult for investors and other users of financial statements to form a clear and accurate picture of the impact of environmental factors on a company’s performance or to make comparisons between companies.
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A new breed of nonprofit and corporate leader is trading tension and distrust for collaboration to improve corporate environmental practices in significant and lasting ways.
A new report, “Partnering for Sustainability: Managing Nonprofit Organization-Corporate Environmental Alliances,” outlines the factors that contribute to the most effective collaborations. The report is based on a
study by researchers at the University of North Carolina at Chapel Hill that explored the experience and interactions, both adversarial and collaborative, between environmental nonprofits and corporations, and the
factors that determine success.
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Some of the world’s largest information and communications technology companies form an alliance to promote sustainable development.
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On the eve of the CBI annual dinner, the New Economics Foundation (NEF) is calling on all FTSE 100 companies to introduce a stakeholder council into their corporate governance structure or be consigned to the dustbin of history.
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Of the world’s top companies, 64% use their Web sites to disclose social and environmental information of some type, according to a survey by CSR Network, international consultants, of the reporting practices of the firms on *Fortune* magazine’s current list of the
top 100 companies in the world (the Global 100 or G100).
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SustainAbility and International Business Leaders Forum (IBLF) is pleased to announce the launch of its latest report The Power to Change: Mobilising board leadership to deliver sustainable value to markets and society. Power to change explores the shear zone of sustainable development and corporate governance and it shows how and why Boards of Directors of major companies, faced with issues of globalisation and corporate power, are starting to integrate triple bottom line considerations – economic, social and environmental – into their corporate governance responsibilities.
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