Corporate Social Responsibility Reporting Tools

Posted by Tracey Lloyd Nov 6, 2009

Businesses looking to report to stakeholders in relation to corporate social responsibility initiatives have a wide variety of reporting tools at their disposal. Global Reporting Initiative's GRI G3 Guidelines set out a framework for disclosing details of corporate social responsibility initiatives to stakeholders. The GRI G3 Guidelines have application levels which require increased levels of disclosure. The highest GRI G3 application level is A+ and means that a company has reported on both the core and all elective requirements under the Economic, Environmental and Human Rights Performance Indicators.

The United Nations Global Compact suggests using the GRI G3 Guidelines when preparing a Communication on Progress (COP). A COP is an annual statement of the initiatives, projects, programs, policies and procedures, undertaken by a member of the Global Compact in order to meet the 10 principles. The Global Compact encourages socially responsible business.

The Connected Reporting Framework is another corporate social responsibility reporting tool that can be used in conjunction with the GRI G3 Guidelines. An initiative of His Royal Highness Prince Charles, the Connected Reporting Framework presents sustainability outcomes and financial disclosures in the same document. Environmental impacts, such as carbon emissions, water and energy usage, are the focus of the Connected Reporting Framework.

Another method of reporting performance in relation to environmental impacts is to undertake an environmental audit and release the results to stakeholders. International Standard IS0 19011 details the requirements of an environmental audit.

Companies wishing to have an external audit of their corporate social responsibility initiatives can apply for accreditation through GoodCorporation. GoodCorporation's accreditation process includes undertaking a review of the company's performance across seven key areas including management commitment, employees, environment and community.

It is important that company chooses a corporate social responsibility reporting tool that is suitable for their current size and programs. Developing corporate social responsibility metrics and reports provides an opportunity to engage with the community and seek feedback on the current community concerns and what stakeholders would like to know from the company.

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