Corporate Sustainability Reporting
Corporate Sustainability is a business approach that creates long-term consumer and employee value by not only creating a “green” strategy aimed towards the natural environment, but taking into consideration every dimension of how a business operates in the social, cultural, and economic environment. Also, formulating strategies to build a company that fosters longevity through transparency and proper employee development.
Corporate sustainability is an evolution on more traditional phrases describing the ethical corporate practice. Phrases such as corporate social responsibility (CSR) or corporate citizenship continue to be used but are increasingly superseded by the broader term, corporate sustainability. Unlike the other phrases that focus on “added-on” policies, corporate sustainability describes business practices built around social and environmental considerations.
Indian and Global Sustainability Frameworks
Following are the frameworks which the Sustainability Framework addresses :
- Basic requirements
Environmental legal requirements, laid down by the Govt. of India Occupational, Health & Safety legal requirements, laid down by the Govt. of India Social legal requirements, laid down by the Govt. of India Corporate level EHS&S; requirements, if any
- SA 8000:2014
◉ Social Accountability 8000, or SA 8000, is a code of conduct verification and a factory certification program that began in October 1997, in an effort to bring Social Accountability to the workplace.
◉ The concept of social accountability is not a new one, the goal being to improve global working conditions. SA 8000 is designed to enforce existing international agreements, including International Labor Organization conventions, the Universal Declaration on Human Rights, and the UN Convention on the Rights of the Child.
- OHSAS 18001
◉ OHSAS 18000 is an international occupational health and safety management system specification. It comprises two parts, 18001 and 18002, and embraces a number of other publications.
◉ OHSAS 18001 is an Occupation Health and Safety Assessment Series for health and safety management systems. It is intended to help an organization to control occupational health and safety risks. It was developed in response to widespread demand for a recognized standard against which to be certified and assessed.
◉ OHSAS 18001 was created via a concerted effort from a number of the world’s leading national standards bodies, certification bodies, and specialist consultancies.
◉ This standard “Occupational Health and Safety Assessment Series (OHSAS) Specification, OHSAS 18001″ was officially released in April 1999. The OHSAS 18001 standard includes the principles laid down in BS 8800 (guideline issued by British Standards Institution in 1996). OHSAS 18001 has been developed to be compatible with the ISO 9001 (Quality) and ISO 14001 (Environmental) management systems standards in order to facilitate the integration of quality, environmental, and OH&S; management systems in organizations, should they wish to do so.
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