In the Annual report for the ASX there is a section in there on the
environment (page 21 of the 2013 Annual Report, ASX). I was pretty surprised by
this! I mean, I personally think it is cool. The page basically outlines that
the ASX has a longstanding interest and commitment to the environment, and
actively tracks its impact on the environment not only here, but anywhere that
it might affect overseas. It outlines various initiatives that the company is
involved in, and what it does to ensure that the company does what it can to
protect the environment.
My question is why is
this in the Annual Report? I might be cynical but I highly doubt that business
people who work at the ASX care too much about the environment, which leads to
me to think that this part of the Annual Report is a bit of "fluff".
If they give us a quick little report on what they do for the environment, it
makes them look good and compassionate (which they very well might be!) but I
thought it was a weird deviation from what is a solid financial report - to a whole
page dedicated to the environment. But I support people doing better by the
environment, so who am I to complain about them putting this in there? I just
thought it was a little weird.
Hi Heather,
ReplyDeleteI love this post because I am passionate about the well-being of the environment (apart from other things).
So I'm replying to this because it has caught my fancy or in other words something I can relate to.
With your question to the why the environment stuff is mentioned in your company's annual reports, I read in the accounting textbook, chapter one (not the study guide) that to increase equity investor attraction, it is better for company's to be environmental friendly because if we don't look after our environment than the raw materials needed will disappear and then there will be no more businesses...say if a paper company got their raw materials from trees but because of poor environmental management, there's no more tree which means no more paper production. But unfortunately, some businesses don't consider this 'you gotta give some to get some' attitude and just keep taking.
Hey Anna,
ReplyDeleteThanks very much for your comment. You've made some great points. I didn't actually get the textbook for this course, so your insight is greatly appreciated. I think that its such a great positive step towards looking after and caring for the environment - whether it is reluctant or not on behalf of the companies. I think more like this should be done, especially by really large and successful businesses, like the ASX.
Thanks Anna!
Hey Heather I really enjoyed reading your post. It is interesting how companies take the opporunity to talk about issues they care about - the question is are they genuine concerns or a chance to brag, talk themselves up a little??
ReplyDeleteMy company did something similar by talking about their passion for supporting the community, in particular youth support. This is something my family and I are passionate about so it was a good page to read.
I also agree with your comment Anna. I could see why a page about how environemently friendly a company is would appeal to an investor.
Really love your blog Heather!! Great job!!
Check out mine :) http://emilyaitchison.blogspot.com.au/