SUSTAINABILITY PERFORMANCE REPORTING SYSTEM: RECOMMENDATION AND CONCLUSIONS

CONCLUSIONS

Guided by the all the above discussions, this paper recommend:

Specification and definition of CRS KPI’s in alignment with world sustainable development KPI’s useable for CRS reporting within industry and across industries, developed through industry specific and across industries multistakeholder processes under the joint coordination of UNGlobal Compact and World Business Council for Sustainable Development.

From Carroll’s Pyramid to Elkington Triple Bottom Line (TBL) reporting deficiencies has been identified operational wise. While TBL reporting was viewed as a step ahead of Carroll’s descriptive model by putting forward a case for non -financial reporting of information about company’s impact on sustainability showing both positive and negative items placed in public records. But, it did not provide a clear methodology for CRS performance information gathering and reporting.

Nonetheless, the number of companies publishing CRS reports is on the increase attributed at least partially to TBL reporting model. Because, its lack defined methodology, there are high degrees of variability in CRS reports in comparison to financial performance reports as such it rarely meet stakeholder’s expectations. Analysis show that CRS reports produced through systematic disclosure of impact would allow for comparison of companies on their impacts though KPI specification. Scholastic attempt to develop CRS reporting system was found lacking operational process methodology and KPI’s specification and definition. So, CRS performances reporting system was design through the introduction of IIA methodology as driver pre-conditioned by CRS KPI’s specification and definition. A cross check of Companies Act (2006) revealed CRS KPI’s specification was excluded from review though recommended in CORE report (2010). A validation empirical studies was carried out through analysis of FTSE 100 sample companies CRS reports KPI’s contents and findings shows that CRS KPI’s is in state of Chaos with implication for futuristic corporate reputational damage and uncertainties about meeting world sustainable development performance targets. It was on this basis, this paper recommends that industry specific and cross -industries multi-stakeholders processes to be convened under the banner of global businesses associations to voluntarily fix the CRS KPI’s chaos problems for “Integrated Impact Assessment Driven Corporate Responsibility and Sustainability Performance Reporting System” to be operational.