Sustainability Reporting - Woolworths Essay

2146 WordsMar 24, 20139 Pages
Contents Executive Summary 1 Introduction 2 Defining Sustainability 2 What Sustainability means to Woolworths 3 Corporate Stakeholders of Woolworths 3 Woolworths Drive for Change 5 Integrated Reporting 6 Why Integrated Reporting? 6 Woolworths Integrated Reporting 7 The Future of Integrated Reporting 7 Conclusion 8 Word Count: 1995 Executive Summary This report examines the new world of sustainability reporting, and the complex web of stakeholders. It focuses particularly on the demands for new kinds of transparency which serve the interests of the environment and society. In this report, Woolworths, one of our major competitors has been analyzed in order to understand how they have evolved the concept of…show more content…
Woolworths believes their existence is directly linked to the global environment as well its community. In carrying out its activities, Woolworths believes it must maintain respect for human dignity, and strive towards a society where the global environment is protected. Woolworths are committed in understanding how people feel, their fears and their needs and aligning the business’s focus into addressing those needs in order to build both loyalty from customers and effort from employees (ICAA, 2011). In order to be sustainable over the long term, Woolworths has made sure that their success doesn’t come at the expense of the society, economy and environment as they are a part of it (ICAA, 2011). They believe it not only involves responsibility to understand and manage their impacts, but also gives them an opportunity to achieve lasting and beneficial change that extends beyond their operations (ICAA, 2011). Corporate Stakeholders of Woolworths Woolworths is a significant part of the Australian community and are aware that their actions and operations do have an impact beyond their immediate interactions with customers, employees and shareholders. A result, they are also concerned with reconciling and aligning the demands, needs, interests, and values with suppliers, communities, the environment, and society at large (ICAA, 2011). Woolworths has a number of programs in place to engage with stakeholders. Through these avenues

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