B
The five sustainability principles as defined by the Brundtland Commission are the material, economic , life, social and performance domains. TRUE or FALSE
Correct Answer: FALSE
Explanation: It should be SPIRITUAL domain instead of PERFORMANCE domain.
The CSERLUDSOI OERTYH suggests that firms with good sustainability performance differentiate themselves from firms with poor sustainability performance and thus, by sustainability reporting, firms signal their good sustainability performance, which cannot easily be mimicked by non-sustainable firms.
To be effective, the assurance process should not be conducted against a recognized standard.
TRUE OR FALSE
Correct Answer: FALSE
Explanation: To be effective, the assurance process SHOULD BE conducted against a recognized standard.
Sustainability matters are considered material if they:
reflect the organization's significant ESG impacts; or
substantively influence the assessment and decisions of its stakeholders.
TRUE OR FALSE
How many sustainability theories are there?
a. Five
b. Seven
c. Six
d. Answer not given.
Correct Answer: c. Six
The relative importance of the three dimensions ______, _______, and _______ - of sustainability performance with respect to each other and their and contribution to overall firm value creation is affected by whether these sustainability performance dimensions are viewed as competing with, conflicting with or complementing each other and what sustainability theory or theories are applied to define tensions among ESG sustainability performance dimensions.
a. social, cultural and governance
b. economic, social and governance
c. ethnic, cultural and environmental
d. cultural, economic and governmental
Correct Answer: b. economic, social and governance
In applying materiality, organizations are encouraged to closely consider all parts of its organization's value chain. This simply means considering more broadly the impacts of the organization's products and services beyond its operations.
TRUE OR FALSE
Correct Answer: TRUE
Organizations should also set the scope within which materiality will apply. Further, it may consider which of the following?
a. Physical locations of the organization (geographical boundary)
b. Operations within or outside the organization (including the entire value chain)
c. Entities within the organization (organizational boundary)
d. All of the above.
Correct Answer: D
HDSTREIWPSA OTREYH is derived from sociology and psychology and views management as custodians of the long-term interests of a variety of stakeholders rather than as exhibiting self-serving and short-term opportunistic behavior, as under agency theory.
Correct Answer: STEWARDSHIP THEORY
YACLIMTGIE EHRYTO is built on a socio-political view and suggests that firms are facing social and political pressure to preserve their legitimacy by fulfilling their social contract.
Correct Answer: Legitimacy Theory
Once material sustainability matters are reviewed and approved, the next step is for the organization to develop its position and response with respect to each material sustainability matter. The response could be in the form of:
a. Developing policies and procedures
b. Implementing various initiatives, measures or action plans.
c. Setting indicators, goals and targets and a timeframe and, where possible, setting longer term goals (e.g, five-year goals), in line with the strategic objectives of your organization.
d. Implementing new, or changing existing systems, to capture, report, analyze, and manage data requirements associated with each material sustainability matter. e. All of the above.
f. None of the above.
Correct Answer: e. All of the above
This domain provides the necessary attitudinal, value orientation, and acts as he basis for a universal code of ethics. This principle advocates the recognition of the necessary attitudinal orientation as a need for a universal code of ethics.
Correct Answer: Spiritual Domain
The ______ ________ process entails the identification and assessment of the relevant stakeholders and the understanding of their needs and expectations in relation to the organization's sustainability performance.
Correct Answer: stakeholder engagement
______ whether done internally or externally, provides a method whereby the organization can demonstrate the credibility of its sustainability disclosures.
Correct Answer: Assurance
It provides the basis for appropriate behavior in the biosphere.
Correct Answer: Domain of Life
This theory suggests that sustainability activities and performance enhancement of the long-term value of the firm fulfil the firm's social responsibilities, meet their environmental obligations and improve their reputation.
Correct Answer: Stakeholder Theory
What is the Phase 4 of the Materiality Assessment Process?
Correct Answer: Prioritization
Give four (4) sustainability theories.
Correct Answer: Shareholder/Agency Theory; Stakeholder Theory; Legitimacy Theory; Signaling/Disclosure Theory; Institutional Theory; Stewardship Theory
It is developed based on the definition of sustainability as "a dynamic equilibrium in the process of interaction between a population and the caring capacity of its environment, such that the population develops to express its full potential without producing irreversible, adverse effects on the carrying capacity of the environment upon which it depends" provide guidelines for public companies to effectively manage the social, environmental, and financial aspects of the business.
Correct Answer: The Five Principles of Sustainability
What is our class code and course number?
Correct Answer:
Course Number - CMPC 314
Class Code - 1696
_____________ _______ are the risks and opportunities arising from the ESG impacts (i.e., Impacts that relate to sustainably themes such as energy, diversity, human rights, etc.) of an organization's operations and activities.
Correct Answer: Sustainability Matters
To gain a broad knowledge of an organization's sustainability issues, it should understand the context within which the organization operates. This would include ______ and _____ issues that can affect the organization's ability to achieve its intended outcomes related to sustainability.
Correct Answer: external, internal
Once the material sustainability matters have been determined, the organization should reconsider them at least _______.
Correct Answer: Annually/Once a Year
The goal of the firm value maximization under business sustainability can be achieved when the interests of all __________ are considered.
Correct Answer: stakeholders
Materiality assessment process is consisting of different phases, what are those phases? (In proper order.)
Correct Answer: Objective and Scope, Identification and Categorization of Sustainability Issues, Stakeholder Engagement, Prioritization and Process Review.