Sustainability Reporting - Woolworths
Executive Summary 1
Defining Sustainability 2
What Sustainability means to Woolworths 3
Corporate Stakeholders of Woolworths 3
Woolworths Drive for Change 5
Integrated Reporting 6
Why Integrated Reporting? 6
Woolworths Integrated Reporting 7
The Future of Integrated Reporting 7
Word Count: 1995
This report examines the new world of sustainability reporting, and the complex web of stakeholders. It focuses particularly on the demands for new kinds of transparency which serve the interests of the environment and society.
In this report, Woolworths, one of our major competitors has been analyzed in order to understand how they have evolved the concept of …show more content…
Woolworths has many initiatives to engage with customers to confirm, or adapt, to meet their needs and resolve any issues arising. Woolworths monitors consumer sentiment and issues impacting on shopping behavior through continuous qualitative research with focus groups and reviews of issues online, in social media and through our Customer Contact Centre.
As a signatory to the UN Global Compact, Woolworths works closely with its suppliers on ethical as wall as environmental supply chains to ensure compliance. Audits to assess and rate the level of compliance are carried out. Additionally they communicate with suppliers via a quarterly newsletter in which they post all relevant documents to ensure they have easy and up-to-date access to information for better planning and effective use of resources.
Woolworths make use of many channels to engage and communicate sustainability issues with their shareholders including the annual general meeting (AGM) which is open to all shareholders and can address and raise issues and concerns directly with the management and board. In addition, Woolworths provides reports with all information to ensure transparency and accountability.
Due to high employee numbers, Woolworths has identified the difficulty in staff communications. Staff newspapers to provide awareness on sustainability and their strategies have been issued however have been identified