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Questions and Answers
What is the primary focus of the 'Governance structure and composition' material topic in the GRI standards?
What is the primary focus of the 'Governance structure and composition' material topic in the GRI standards?
- Disclosure of the company's environmental impact
- Composition of the highest governance body and its committees (correct)
- Assessment of the company's social responsibility initiatives
- Evaluation of the company's financial performance
Which of the following disclosure standards is related to the 'Nomination and selection of the highest governance body' topic?
Which of the following disclosure standards is related to the 'Nomination and selection of the highest governance body' topic?
- Disclosure 102-18
- Disclosure 102-22
- Disclosure 2-10 (correct)
- Disclosure 102-25
What is the focus of Disclosure 102-23 in the GRI standards?
What is the focus of Disclosure 102-23 in the GRI standards?
- Composition of the highest governance body
- Nominating and selecting the highest governance body
- Chair of the highest governance body (correct)
- Governance structure
Which of the following is NOT a topic related to the 'Governance' material topic in the GRI standards?
Which of the following is NOT a topic related to the 'Governance' material topic in the GRI standards?
What is the primary focus of Disclosure 102-18 in the GRI standards?
What is the primary focus of Disclosure 102-18 in the GRI standards?
Which of the following disclosure standards is related to the 'Governance structure' topic?
Which of the following disclosure standards is related to the 'Governance structure' topic?
What is the primary role of the highest governance body in overseeing the management of impacts?
What is the primary role of the highest governance body in overseeing the management of impacts?
Which GRI standard corresponds to the process of identifying and managing economic, environmental, and social impacts?
Which GRI standard corresponds to the process of identifying and managing economic, environmental, and social impacts?
Who is responsible for executive-level responsibility for economic, environmental, and social topics?
Who is responsible for executive-level responsibility for economic, environmental, and social topics?
What is the purpose of consulting stakeholders on economic, environmental, and social topics?
What is the purpose of consulting stakeholders on economic, environmental, and social topics?
Which of the following is a key aspect of the role of the highest governance body?
Which of the following is a key aspect of the role of the highest governance body?
What is the focus of Disclosure 102-20?
What is the focus of Disclosure 102-20?
Which GRI standard corresponds to the process of delegating authority for managing impacts?
Which GRI standard corresponds to the process of delegating authority for managing impacts?
What is the main objective of the World Business Council for Sustainable Development?
What is the main objective of the World Business Council for Sustainable Development?
What is the vision of the society, as described in the content?
What is the vision of the society, as described in the content?
What is the primary purpose of Disclosure 102-30?
What is the primary purpose of Disclosure 102-30?
What is the main focus of the Equator Principles?
What is the main focus of the Equator Principles?
What is the goal of the members of ICMM?
What is the goal of the members of ICMM?
What is the mission of WRI?
What is the mission of WRI?
What is the definition of sustainable development, according to the commission?
What is the definition of sustainable development, according to the commission?
What is the focus of the Principles for Responsible Banking?
What is the focus of the Principles for Responsible Banking?
Who is credited with the phrase 'A global agenda for change'?
Who is credited with the phrase 'A global agenda for change'?
What is a primary component of the 'Statement on sustainable development strategy' disclosure in the GRI standards?
What is a primary component of the 'Statement on sustainable development strategy' disclosure in the GRI standards?
Which disclosure is related to the embedding of policy commitments in the GRI standards?
Which disclosure is related to the embedding of policy commitments in the GRI standards?
What is the primary focus of the 'Processes to remediate negative impacts' disclosure in the GRI standards?
What is the primary focus of the 'Processes to remediate negative impacts' disclosure in the GRI standards?
Which GRI standard is related to the values, principles, standards, and norms of behavior?
Which GRI standard is related to the values, principles, standards, and norms of behavior?
What is the primary purpose of the 'Statement from senior decision-maker' disclosure in the GRI standards?
What is the primary purpose of the 'Statement from senior decision-maker' disclosure in the GRI standards?
Which disclosure is related to the policy commitments in the GRI standards?
Which disclosure is related to the policy commitments in the GRI standards?
What was the title of the report that brought ESG to global attention?
What was the title of the report that brought ESG to global attention?
What are the three areas that ESG reporting addresses business risks across?
What are the three areas that ESG reporting addresses business risks across?
What is the primary goal of ESG reporting?
What is the primary goal of ESG reporting?
What is the expected outcome of ESG reporting for financial markets?
What is the expected outcome of ESG reporting for financial markets?
What is the role of ESG reporting in risk management?
What is the role of ESG reporting in risk management?
What is the expected outcome of ESG reporting for stakeholders?
What is the expected outcome of ESG reporting for stakeholders?
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Study Notes
ESG and Sustainability
- ESG gained significant global attention following the publication of the report "Who Cares Wins: Connecting Financial Markets to a Changing World" in 2004.
- ESG reporting is a form of risk management that addresses business risks across three areas: environment, society, and governance.
Sustainable Development
- The concept of sustainable development was defined by Harlem Brundtland of Norway as "development that meets the needs of the present without compromising the ability of future generations to meet their own needs."
- The United Nations asked to formulate a "global agenda for change" in response to the concept of sustainable development.
Sustainability Initiatives
- The World Resources Institute (WRI) aims to move human society to live in ways that protect the Earth's environment and its capacity to provide for current and future generations.
- The World Business Council for Sustainable Development (WBCSD) is a global organization that promotes sustainable development.
- The Equator Principles (EPs) is a risk management framework adopted by financial institutions to determine, assess, and manage environmental and social risks in projects.
Governance
- Governance structure and composition are critical components of ESG reporting.
- The nomination and selection of the highest governance body, including the chair, are essential aspects of governance.
- The role of the highest governance body in setting purpose, values, and strategy, as well as overseeing the management of impacts, is crucial.
- Effective risk management processes and delegation of authority are essential for managing economic, environmental, and social impacts.
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