News

ACCA news

• ACCA launches discussion paper on climate change at high profile event in Hong Kong, opened by VP Al Gore

• This publication follows on from ACCA research carried out with FTSE Group on the standards of UK climate change reporting, and a workshop held with experts on the issues and current global situation regarding climate change.

• ACCA announces shortlist for the 2007 ACCA UK Sustainability Reporting Awards.

• Following a vigorous shortlisting process, the 15 finalist entrants of the ACCA Uk Sustainability Reporting Awards were announced in September 2007. More than 70 organisations submitted reports this year, including over 10 SMEs and a number of first-timers.

Climate change news

• UK Government launches consultation on Carbon Reduction Commitment

• On 26 June 2007, the UK Government launched the “Consultation on the implementation of the Carbon Reduction Commitment”, which runs until 9 October 2007.

• Survey finds that climate change has no influence on fund managers

• The survey of UK asset managers, carried out by London-based HeadLand Consultancy, found that most institutional investors are not changing their investment strategies in response to climate change.

• Work progressing on publication of a voluntary carbon standard

• Members of the Voluntary Carbon Standard (VCS) committee have announced that the work has been completed and agreement reached on all components of the standard.

Reporting and assurance news

• Annual reports fail to capture innovation

• Annual reports fail to capture the full value of companies’ innovative activities particularly in the services sector, according to research funded by the Economic and Social Research Council.

• Study by SIRAN-KLD shows that nearly half of S&P index companies now disclose information

• The study, which is now in its third year, found that 49 of US companies in the S&P 100 index include environmental, social and governance performance information in their annual disclosures. Thirty nine of these companies also used the GRI Guidelines in preparing these disclosures.

• Sustainability reporting increasing among the world’s biggest brand companies

• The research, carried out by the Global Reporting Initiative, found that 80 percent of the top 15 global brands release reports detailing economic, environmental and social performance. Forty eight percent of the top 100 brands (as ranked by Interbrand and Business Week in the Aug. 7 issue) also issue similar reports.

• AccountAbility launches the AA1000AS revision process

• AccountAbility officially launched the AA1000 Assurance Standard (AS) revision process in July 2007. This new edition aims to be the world's first mainstream corporate accountability standard to be developed using a collaborative wiki process to maximise participation and knowledge sharing.

• Vodafone introduces reasonable assurance of its CR report

• Vodafone has claimed to have become the first Fortune 100 company to have had reasonable assurance of its CR report – ie had its report assured to a higher standard than normal.

Miscellaneous news

• AccountAbility and Consumers International launch new report studying what assures consumers on climate change

• The report, called “What assures consumers on climate change?” looks into how and to what extent consumers can join in the fight against climate change. A survey of 2734 consumers in the UK and the US reinforces previous findings that an increasing number of consumers are concerned about climate change, but that they have not yet matched these concerns with positive action.

• US shareholders interest in social and environmental issues increases

• As of June 2007, the number of social and environmental resolutions brought in front of US shareholders was on track to be the highest ever (as reported by the Social Investment Forum.)

• Eurosif publishes sustainability papers for the food and insurance sectors

• The reports were launched as part of the series of publications aimed at increasing awareness of the key risks facing different sectors. These are risks that are not necessarily covered in financial accounting.

• ASX corporate governance principles released

• The ASX Corporate Governance Council released the updated corporate governance principles and recommendations in Sydney in August 2007. This is the first update of the principles since they were first introduced in 2003.

• Erasmus University Rotterdam launches second cycle of postgraduate programs in CSR Management and CSR Auditing

• The one year postgraduate programs on CSR Management and CSR Auditing is entering its second year at The Erasmus University Rotterdam (EUR-ESAA BV).

• Guidelines on corporate behaviour to be updated

• The OECD Guidelines for Multinational Enterprises are to be revised, following significant criticism for procedural and other failings.

• World's largest insurers to develop sustainability guidelines

• Some of the world's largest insurance companies have started to develop sustainability guidelines. The Principles for Sustainable Insurance will offer guidance on areas such as climate change, access to healthcare and poverty.

• GRI Update

• A summary of GRI activity in the last quarter

• New reports published
• A comprehensive list of the latest reports published is provided by CorporateRegister.com