ACCA sustainability reporting awards today

The country’s Sustainability Reporting Awards organised by ACCA Sri Lanka will reward the country’s most transparent corporates today under the aegis of Chief Guest, Minister of Export Development and International Trade Professor G.L. Peiris. The awards, judged on the global criteria developed by ACCA aligned to the Global Reporting Initiative (GRI) Guidelines for Sustainability Reporting and now permeating thirty countries around the globe, will see four organisations being adjudged winners tonight.

On the theme of Rewarding Transparency, awards are presented to a company each in the large and medium scale categories along with two commendations at a gala ceremony at the Cinnamon Grand.

Past winners include Ceylon Tobacco Company, John Keells Holdings and Diesel & Motor Engineering Company. The judging criteria split into three categories, looks at completeness, credibility and communication with all reports considered by a judging panel of independent experts in sustainability/environmental reporting disclosures. The reporting process conforms strictly to Global Reporting Initiative guidelines in which ACCA has been involved since its inception and has also contributed to the development and launch of G3 in October 2006.

While a well formulated GRI Sustainability report will disclose an organisation’s economic, social and environmental performance and should contain the elements of an organisational profile, governance, management, processes, performance and assurance, the report structure needs to be supported by strategy and profile, management approach and performance indicators and supporting technical protocols.

The updated guidelines titled G3 launched in October 2006 sees new definitions and self tests for key reporting principles, a new strategy and analysis section which involves more disclosure requirements, protocols for each indicator and new adherence structures.

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