Users Perspective of the Oricas Limited 2011 Sustainability Report
The Orica Limited 2011 sustainability report exposed how the firm measured its accountability to its stakeholders when the organisation was undertaking its activities. Additionally, it describes the sustainability of the organisation in accordance with the firms location, size, and the economic sector. Consequently, it shares knowledge on how the firm is trading and using technology as a way of striving to create more chances of prospering the business and improve the communitys worth of life. This is because it outlines social, economical, and environmental effects caused by the firm.
Furthermore, the Oricas Limited methodology of reporting its 2011 sustainability showed the various firm’s obligations and managerial strategies. First, it showed that the reporting methodology can be used in benchmarking and appraising the organisations performance to fit the country’s laws, social norms, and the organisations code of conduct. Second, it explained how the Orica Limited 2011 sustainability reporting methodology highlighted the companys performance in and outside the firms setting (GRI 2011).
GRI Framework Application
The Orica Limited 2011 sustainability reporting is at medium (B) GRI reporting framework. This is a significant level because the 2011 sustainability report assesses the Orica Limited materials position in terms of performance of short-term finances and capabilities of delivering the objectives set by the organisation. What is more, when Orica Limited reports its 21011 sustainability to the stakeholders on the medium level, it gives huge emphasis on exposing information touching the sensitive firms sustainability. Additionally, the GRI medium framework used in 2011 sustainability report outlines how the firm is intending to control the future business risks. Besides, the medium sustainability-reporting framework accommodates the density and sequences of data expected to be disseminated through the sustainability report to the stakeholders.
Independent Assurance in Sustainability Report
The term independent assurance in sustainability reporting is the incorporation of independent companies in the sustainability to enhance the definition of the focus of the companys sustainability reporting to its stakeholders. In our case, the Orica Limited had applied independent assurance in its 2011 sustainability reporting as an indicative way of the business conformity to the set codes of conduct. Because of applying the independent assurance, the company recreated its worth as a way of enhancing its investment trustworthiness. As a result, this will enhance effortlessness for the stakeholders in their attempt to establish a balance between companys interest and the expectations of the stakeholders to the organisations accountability (KPMG 2008).
Case study: Kooragang Island
In the Orica Limited 2011 sustainability report, the Kooragang Island business case is mentioned (Orica Limited 2011). According to the case statement, the incident occurred after the Orica Limited had implemented a program to overcome challenges of sustainability to its stakeholders in 2010. However, it is regrettable that the running program, unless modified, it will not help prevent the recurrence of similar tragedies.
Other activities mentioned in the 2011 Orica Limited sustainability report include the organisations dedication in improving the workforce diversity. The firm is committed to improving the gender and international diversities through implementation of leaders who can lead working members without hurting their cultural and gender diversities (Orica Limited 2011).
In conclusion, the incident in The Sydney Morning newspaper explains that heavy metal, mercury, and ammonia were released in the air, and this posed a significant health hazard (APP 2011). However, in its 2011 sustainability report, the Orica Limited reported to its stakeholders that after the incidence, there were no health dangers. Moreover, the government response to the incident was slow and could not protect the interest of the community in Kooragang Island. Hence, sustainable report was unreliable.
Reference List
APP 2011, ‘Business case study: Government receives Report on Orica Spill’, The Sydney Morning. Web.
GRI 2011, Sustainable Reporting Guide. Web.
KPMG 2008, Sustainability Reporting. Web.
Orica Limited 2011, Sustainability report 2011. Web.