Government Wants Voluntary Sustainability Reporting
Tuesday, 27th March 2012 at 10:41 am
The Federal Parliamentary Secretary to the Treasurer, Bernie Ripoll, has told the Global Reporting Initiative Conference in Melbourne that sustainability reporting should be voluntary.
The Global Reporting Initiative (GRI), with the support of the Australian Government, is holding its first regional conference on Sustainability and Integrated Reporting in Melbourne.
Australian leaders and opinion formers from business, government and civil society are at the Conference with the theme of Innovate – Integrate – Collaborate.
Ripoll told the Conference that sustainable development is now more important than ever before – and he encouraged Australian companies to lead the way.
Chair of the international integrated reporting council Prof Mervyn King has told the Conference that short term capital is yesterday’s game and corporate reporting is no longer fit for purpose.
He told the conference that today, it’s about how the company is making its money not how much has the company made.
He agreed with Bernie Ripoll on voluntary reporting saying ’legislation results in a tick the box exercise' which is another reason for the rejection of compulsory reporting.
Organisers say the Australian GRI Conference on Sustainability and Integrated Reporting the Conference will help bridge the divide between organizations in Australia and the Asia Pacific region, and international developments in integrated reporting.
The outcomes of this Conference will help inform GRI’s thinking on integrated reporting and the next generation of its Sustainability Reporting Guidelines – G4.