Introduction
Had it been implemented, this form of non-financial reporting might have pressured both Exxon and Union Carbide to improve safety and crisis plans
Sustainability reporting
This type of reporting is important for internal and external stakeholders
Sustainability reporting
This global accounting standard helped create guidelines for sustainability-related risk and opportunity
IFRS
In the metaphor comparing IT to IR, this is what IR is referred to as
The Body
This city had thousands die overnight due to a major gas leak in 1984
Bhopal, India
This stakeholders are concerned about unethical working conditions, harmful ingredients, and recyclability of products
Consumers
This economic reason is the reason many developing countries were against implementing another layer of reporting
Stagnant or depressed economies
This event occurred in 1992, in Rio De Janeiro
Earth Summit
After the Exxon Valdez disaster, this financial indicator dropped, making it harder for the company to raise capital
Exxon’s stock price
These are the 4 primary stakeholders mentioned in Table 2.1: Sustainability reporting for decision making
Financial institutions, shareholders, customers, supply chain members
GRI consists of these three universal standards
Economic, environmental, and social
Under GRI, this step defines which parts of your business impacts sustainability, including operations and any partners under your control
Step 1: Setting your boundaries
Following the Exxon Valdez spill, the oil industry faced an increase in this, imposed by governments to prevent future disasters
Environmental regulations
This is the percentage of consumers who prioritize sustainability-focused practices
85%
This sustainability standard was introduced in the 1980s to help companies with performance reporting
Organization for Economic Co-operation and Development (OECD) Guidelines
This was the first framework established for standardizing sustainability reports
Public Environmental Reporting Initiative (PERI)
This highly toxic gas leaked in the 1984 Bhopal disaster, leading to thousands of deaths and permanent disabilities
Methyl isocyanate (MIC)
Consumers are willing to pay this percentage more for sustainable products
9.7%
This report, released in 1987, introduced the modern definition of "sustainable development"
Brundtland report
This organization is superseding GRI because it shares information that has a material financial impact on long-term development by disclosing industry-specific quantitative metrics
Sustainability Accounting Standards Board (SASB)