ABSTRACT
This research document is issued by a common belief of G.B.S. and of the dedicated research group, on the need to deepen the environmental investigation and report topics.
The environmental topic has progressively gained an increasing relevance as a business parameter. The adoption of the Corporate Social Responsibility (CSR) view and consequently of the triple bottom line philosophy in business management (financial, social and environmental) made it necessary to widen the data collection process to the social and environmental phenomena.
The European Commission itself issued the 2001/453/CE Recommendation on “Recognition, measurement and disclosure of environmental issues in the annual accounts and annual reports”. In reason of homogeneity and territory comparability, such issues need to be taken into account, even if not legally binding yet for Italian companies.
Given these premises, the working group pursued the following objectives:
- verifying the effects on ordinary reporting, given the potential implementation of the 2001/453/CE recommendation;
- proposing changes to the base standards, in order to include the environment (that is to say the community stakeholders whose interest it is referred) in the calculation of Added Value and its allocation;
- ending up by drafting the Chart of Accounts of environmental parameters.
TABLE OF CONTENTS
Introduction
I The Working Group
II Document Purposes
III The Document Structure and Methodological Approach
IV Papers Overview
PART ONE
The influences on the financial statement and on the calculation of added value of the Recommendation 2001/453/CE.
1.1. The Financial Statement Widening as a Result of the Environmental Details Introduction
1.1.1. The Objectives and the Application Scope of the Recommendation
1.1.2. The Definition, identification and evaluation of the Environmental Costs
1.1.3. The Changes Due to Annual and Consolidated Report
1.1.4. The Balance Sheet and Profit & Loss Accounting Schemes Adapted for 2001/453/CE
1.2. The Consequences with regards to the Added Value Calculations
1.2.1. The A.V. in G.B.S. Methodology
1.2.1.A – General Set-up and A.V. Calculation
1.2.1.B – The A.V. Allocation
1.2.1.C – Community and Environment
1.2.2. – The New Tables for the Calculation and Allocation of the A.V.
PART TWO
The Disclosure of Environmental Information
2.1. Programs, processes and environmental certifications
2.1.1. From ISO 14001 to EMAS
2.1.2. Ecolabel and LCA (Life Cycle Assessment)
2.1.3. The Emission Trading
2.2. The Environmental Leading Documents
2.2.1. The EMAS and the Environmental Statement
2.2.2. The Environment according to the National Council of the Accountant with a Degree in Economics
2.2.3. The Environment according to the National Council of the Accountant Technicians
2.2.4. The Environment according to the FEE “Fédération des Experts Comptables Européens”
2.2.5. The Environment in Cantieri project
2.3. The Environmental Report as an independent document in practice and in the FEM (Enrico Mattei Foundation) model
2.3.1. The Environmental Report and its Evolutional Perspectives
2.3.2. Social Reporting Standards
2.3.3. The FEM Model
2.4. The Environment in CSR-SC orientation
2.5. The Environment according to CERES (Coalition for Environmentally Responsible Economies)
2.6. The Environment in the GRI Sustainability Report
2.6.1. Objectives and Contents of 2002 Standard
2.6.2. The Environmental Performance Metrics in 2002 Standard
2.6.3. The G3 2006 Policy Lines
2.7. A Comparative Synthesis
PART THREE
The environment in G.B.S. Standard and some development proposals
3.1. The Environment in the Current G.B.S. Standard for Social Report
3.2. Guidelines and First Drafting Challenges of the Environmental Section
3.3. The Minimum Quality and Quantity Contents
3.4. The Suggested Plan of Accounts
APPENDIX
I The Environmental Plan of Accounts
II Environmental Glossary
III The Difference Between G3 Guidelines (Draft, Version for public comments” and Ultimate G3 Guidelines
