Can a First-Time Reporter Achieve a High Level Sustainability Report from the Start?

Oct. 29, 2010 - PRLog -- The answer is Yes. Bucyrus International Inc., manufacturer and supplier of surface and underground equipment to the mining industry is a perfect example. The company’s “B+” ambitions for its GRI-based 2009 Sustainability Report were confirmed this week in the External Assurance Statement issued by ISOS Group.

For those unfamiliar with the abbreviation, GRI stands for the Global Reporting Initiative, which is the most widely used framework for sustainability reporting in the world today. Although companies have long reported on their financial performance, they have only recently started to expand reporting activities to include performance in areas affecting human and environmental capital. Companies basing reports on the GRI G3 (Version 3), register reports on an “A”, “B” or “C” status. This shouldn’t be confused as the academic grading system used in the United States, but rather a means for suggesting the extent to which the standard was utilized. Since a sustainability report is much more than a marketing piece, most first-timers begin their journey by publishing at the “C Level”, which requires a minimum of ten performance indicators. A “Level B” requires a minimum of twenty indicators and full transparency in disclosing management’s approach to various issues. Adding a “+” into the equation simply means that a company has received external assurance for their report.

Back to Bucyrus- some may think that the company’s efforts to produce such a report conflicts with the very nature of the industry they serve. Absolutely Not. Bucyrus has joined a long list of other multi-nationals that realize their responsibility to positively influence those that they do business with and who are affected by their operations. In the report, Timothy Sullivan, Bucyrus’ President & CEO expresses their motivation by stating,
“Our customers are challenged with responsibly supplying the resources we all depend on. As a reliable partner, Bucyrus is committed to supporting the innovation and implementation of technologies that allow our customers to meet the demands of increasing global populations with minimal impact on the environment”.
Sullivan’s mission was solidified through a Board resolution that recognizes the moral and strategic value of integrating sustainability across the organization. The facilitation of sustainability-driven initiatives is championed by an internal multi-sectoral sustainable development team. The process for creating an inaugural report was led by Shelley Hickman, Director of Global Communications with executive sponsorship from Marcus Berto, Senior Vice President for the Southern Hemisphere.

Bucyrus was found to be consistent with their management approach, responsive to priority issues expressed by supply chain partners and aware of their current sustainability context. Social aspects of sustainability were highly regarded and reported accordingly since it is the company’s belief that “People” drive the right behaviors, leaving a positive impact on our Planet and generating Prosperity for generations to come. Additionally, ensuring social codes related to human rights have proven successful in minimizing risks to the company.

ISOS Group was contracted by Bucyrus International Inc. to conduct external assurance of the inaugural report for the 2009 calendar year. The scope of the assurance covered the economic, social and environmental performance data, both quantitatively and qualitatively expressed on behalf of Bucyrus International’s headquarters and subsidiaries.  ISOS Group’s comprehensive approach verifies that all data was collected in a consistent manner and reported in accordance with the GRI’s G3 Guidelines. Assurance activities also confirmed the absence of discrepancies and controversies that could conflict with the reported. Bucyrus “B+” level sends a strong message to stakeholders and the growing socially responsible investment community that the company’s actions are credible and that the information reported is accurate and reliable. The company’s efforts are expected to be a catalyst for change in the mindset of its workforce and lead to a greater push for sustainable development from suppliers and customers alike.

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ISOS Group is an innovative, international sustainability consultancy firm that develops and implements advanced sustainability reporting application, enabling entities to better manager human, natural and capital resources. We provide Sustainability Assessments, GRI Sustainability Reporting Certifications, guidance throughout the reporting process and External Assurance of reports in addition to an array of other supporting services. ISOS Group is recognized as Global Reporting Initiative’s Certified Training Partner in the United States. For more information please log on at: www.isosgroup.com or send us an e-mail to info@isosgroup.com.