Corporate Governance And Social Responsibility: A Case Study Of Wesfarmers

Corporate Governance and Corporate Social responsibility compliance

Describe about the Corporate Governance and Social Responsibility for Business Production.

Introduction

Wesfarmers Limited is an Australian corporation, headquartered in Perth, Western Australia, with benefits mainly in Australian and New Zealand trade, as well as in compounds, fertilizers, coal mining and manufacturing & secure goods. This corporation is a principal metallurgical coal manufacturer and dealer of thermal coal for household power production. We activate the Curragh coal mine near Black water in Queensland’s Bowen Basin and have a 40 percent interest in the Bengalla mine in the Hunter Valley in New South Wales. To carry on in building assessment over the long period of term, Wesfarmers is dedicated to proactively organizing its society and ecological impact (Wesfarmers Resources, 2016).

Wesfarmers is a physically powerful supporter that focuses on delivering acceptable proceeds for its shareholders and it focuses not only on the monetary presentation of the business but also on the five key sustainability   areas  such as individuals, societal support, environment, carbon and energy, and Governance and economic contribution.

In the recent years the sustainability reports have paid attention on presenting information regarding these five factors.

The organization follows various corporate governance rules which govern every corporation in Australia. Corporate Governance has been regarded as the organization of rules, performances and procedures by which a corporation can be intended for and forbidden. The organization has been very proud of their approach to corporate governance and it believes that corporate governance was essential for the ongoing value creation for their shareholders and other stakeholders.

The Corporate Governance framework has been built by the organization’s Board and was underpinned by the corporate governance declaration which was obtainable on the corporate governance section of the website of the corporation. This section includes the access to all the pertinent corporate governance data, including outline of the director, board and committee characters and group policies (Sustainability   Report 2015 Wesfarmers, 2016).

The position of the Board of Wesfarmers was to endorse the planned way of the Group, to direct and check the organization of the association and its trade in attaining its planned plans and supervise good governance practices. The Board aspires to safeguard and improve the wellbeing of its shareholders, while taking into account the wellbeing of the other stakeholders, including its workers, consumers, dealer and the wider society.

In performing its duties and function, the Board has been dedicated to a high standard of corporate governance practice and for nurturing a custom of conformity which values the moral conduct, private and business truthfulness, responsibility and respect for others. The Board maintains the ultimate responsibility for the policy and controls the organization and its trades.

Global Reporting Initiative Guidelines- G4

The Corporate Social Responsibility of the corporation helps in inculcating respect for the workers, consumers and suppliers. It also puts a focus on granting secure workplaces which we were elementary to the manner in which the organization operates. Organization’s communal accountability extends for upholding high principles of moral behavior, environmental accountability and societal involvement.

The organization had been following an approach for its growth and it was consistently associated with the ethics of Global Reporting Initiative which persuades the organization to center and report the crucial substances regarding the corporation and the stakeholders. It has been a new approach which was accepted by the corporation and would develop in the upcoming years as the corporation would accept the GRI G4 standard as a part of the organization (Sustainability   Report 2015 Wesfarmers, 2016).

ECONOMIC	Economic Performance	G4-DMA and G4-EC1
Market Presence	G4- DMA and G4-EC5
ENVIRONMENTAL	Energy	G4-DMA and G4-EN5
Water	G4-DMA and G4-EN8
Biodiversity	G4-DMA and G4-EN11
Emissions	G4-DMA, G4-EN15, G4-EN16,  and G4-EN17
Effluents And Waste	G4-DMA and G4-EN23
Products And Services	G4-DMA and G4-EN27
Compliance	G4-DMA and G4-EN29
Overall	G4-DMA and G4-EN31
Supplier Environmental Assessment	G4-DMA and G4-EN33
Environmental Grievance Mechanisms	G4-DMA and G4-EN34
SOCIAL: LABOR PRACTICES AND DECENT WORK	Employment	G4-DMA and G4-LA1
Labor/Management Relations	G4-DMA and G4-LA4
Occupational Health And Safety	G4-DMA and G4-LA6
Training And Education	G4-DMA and G4-LA10
Diversity And Equal Opportunity	G4-DMA and G4-LA12
Equal Remuneration For Women And Men	G4-DMA and G4-LA13
Supplier Assessment For Labor Practices	G4-DMA and G4-LA15
SOCIAL: HUMAN RIGHTS	Investment	G4-DMA and G4-HR2
Freedom Of Association And Collective Bargaining	G4-DMA and G4-HR4
Child Labor	G4-DMA and G4-HR5
Forced Or Compulsory Labor	G4-DMA and G4-HR6
Supplier Human Rights Assessment	G4-DMA and G4-HR11
Public Policy	G4-DMA and G4-SO6
Anti-Competitive Behavior	G4-DMA and G4-SO7
Compliance	G4-DMA and G4-SO8
SOCIAL: PRODUCT RESPONSIBILITY	Customer Health And Safety	G4-DMA and G4-PR1
Product And Service Labelling	G4-DMA and G4-PR3
Marketing Communications	G4-DMA and G4-PR6
Compliance	G4-DMA and G4-PR9

The corporation would only be feasible as a corporation if in addition to its constant monetary achievement, it sufficiently tackle a variety of other matters which we were both important in their own privilege and which contributed to financial results. The 10 main beliefs which have been mentioned below relate to the sustainability  matters that have been regarded as most material to the organization as a group. Each of the divisions of the organization was applying to these principles for its trade, taking into account the specific situations of its operating atmosphere and was expectant to set its own interior objectives in accordance to these morals. The organization has decided to report against such principles in the present year and also in the future years.

In 2014, the organization made decision suggesting that it would commit to 10 societal and ecological impact morals, addressing the areas which its shareholders told them as significant. These morals cover the regions of individual sourcing, society, surroundings and governance, all of which we would need in order to believe the matter for creating values constantly for its shareholders and stakeholders.

The ten areas of distinction among the sustainability   report of 2014 and 2015 are as follows:

Category	Aspect	Sustainability   Report 2014 (Wesfarmers Resources, 2016)	Sustainability   Report 2015 (Wesfarmers Resources, 2016)	Remarks
SOCIAL: PRODUCT RESPONSIBILITY	Safety	The rate of harms has reduced to 18 per cent in the occurrence of damage across the Group. The Total Reportable Injury Frequency rate was 31.9 and Lost time injury occurrence rate was 7.6.	The rate of harms has reduced to 5.2 per cent in the occurrence of harms across the Group. The Total Reportable Injury occurrence rate was 39.5 and Lost time injury occurrence rate was 7.3 (Wesfarmers, 2015).	Breakdown of LTIFR, TRIFR and employees reimbursement. Safety information for fixed time contractors in  the supply chain where the majority of the team workers employed were contractors.
SOCIAL: HUMAN RIGHTS	Government cooperation	This year, the corporation have liaised with the federal and state governments through one-on- one meetings, other direct and indirect communications and participation in formal consultation processes in relation to variety of issues that affect their business and society, such as competition regulation; GST on imported goods; Liquor licensing, etc.	This year, the corporation have liaised with the federal and state governments through one-on- one meetings, other direct and indirect communications and participation in formal consultation processes in relation to variety of issues that affect their business and society, such as competition regulation; GST on imported goods; Liquor licensing, etc.	Government have cooperated with the people and the businesses in order to help them in improving their efficiency and make them law abiding trades.
Individual’s Development	The Individual development was done on a smaller scale.	This Year the corporation has employed roughly 205,000 people out of which 130,000 we were permanent and 75,000 we were casual workers. Since last year, the organization has a net decrease in their number of employees of approximately 2,300 individuals.	Development of individuals have increased at a larger scale now and now more permanent workers have been employed rather than casual workers.
Suppliers	Since 2013, Coles has been a foremost voice in the growth of a voluntary Food and Grocery Code of Conduct with the Australian Food and Grocery Council. But approval was not obtained by the federal government. Some allegations we were imposed upon Coles that we have engaged in unconscionable conduct.	This year approval was obtained and the code came into force. Also the allegations we were agreed upon by Coles as we decided to pay more than $12 million to the ARC supplier and $324,000 to additional dealer.	Compensation have been provided for the unlawful conduct on the part of Coles.
Ethical sourcing	This year, 4,083 dealer offered house-brand products to their retail trade for resale. Their audit programs covered 3,904 of the factories used to manufacture products for these suppliers. Other factories we were disqualified from their audit agenda because we were careful low-risk due to product type or the location of the factory or supplier. This year, 2,624 factories we were approved, which means there we were no (or only minor) issues identified in an audit.	This year, their audit agenda covered 3,888 factories used to manufacture house-brand products for resale, in a number of countries with lower regulation than Australia, including China, Bangladesh, Thailand, India and Cambodia This year their audit program covered 3,888 factories.	Given the breadth of the trade of the business, Human rights training was not relevant so a percentage was not meaningful.
SOCIAL: LABOR PRACTICES AND DECENT WORK SOCIAL: LABOR PRACTICES AND DECENT WORK	Diversity	More varied workplaces, with 29 per cent of all organization roles now held by women and stable growth in their Aboriginal and Torres Strait Islander workers;	While Wesfarmers’ labor force is made up of 55 per cent women and 45 per cent men as at 30 June 2015, a key chance for the Group is to amplify the proportion of management positions held by women. Women hold 45 per cent of salaried positions and 57 per cent of award or Enterprise Bargaining Agreement roles. This year there was no gap in the majority of payment.	Aggregate Ratio. Given the diversity of their trade, salary information was examined by job level, rather than in aggregate.
Listening to stakeholders	Their customers contact us through emails, letters, websites, telephone calls, social media and personal contact throughout the year. During the reporting period we listened to their207,000 workers through a number of channels, including periodic divisional employee surveys, discussions with unions, etc. As well as conducting independent assessments of investor perception, we listen to their trade shareholders at their annual general meeting and we listen to their institutional investors at regular post-result road shows, strategy and operational briefings, results announcements and other ad hoc meetings.	The corporation has adopted the CSR initiatives and G4 initiatives so that changes can be made and shareholders can take a stand and tell the directors of the corporation. The directors listen to the shareholders as we were the people because of whom the organization has been built up.	Participation of stakeholders have been taken into account and their words have been taken into consideration.
ECONOMIC/SOCIAL/ENVIRONMENTAL: Corporate governance		Their directors bring a mix of skills, experience, expertise and diversity to decision-making	The corporate governance framework has been established by the Wesfarmers Board. An overview of the corporate governance framework, including details about board committee charters, roles, responsibilities and policies with Group-wide application.	All the policies have been governed by the corporation in a adequate way.
ENVIRONMENTAL	Water use and waste	This year, we decreased their waste to landfill by six per cent to 134,706 tonnes and increased theirwaste recycled by 10 p er cent to 281,545 tonnes. This year, the Group recorded water use of 17,000 mega litres.	Despite their efforts to reduce their waste, this year their waste to landfill has increased slightly to 136,093 tonnes and their recycled waste has increased by eight per cent to 303,387 tonnes. Resources, their largest water user,  achieved a 13 per cent reduction in water use this year. This year, their recorded water use was 15,450 megalitres.	As compared to last year  the waste to landfill has been increased with the recycled waste.
Climate change resilience	The organization’s sectors had a range of energy efficiencies initiatives with the Greenhouse gas emission intensity of 64.9 tonnes.	This year, their total scope one and two emissions we were 4,009,504 tonnes CO2. And this year the Greenhouse Gas intensity was 64.2 tonnes.	The Greenhouse intensity have been decreased as compared to last year.
Community contributions	The organization donated $22 million to the social Welfare causes. this year we directly contributed $44.6 million to community organizations, which associate to 1.1 per cent of earnings before interest and tax and 1.7 per cent of net profit after Tax. This was Lower than last Year’s contribution, partially. In addition, this year the organization facilitated donations from the consumers and employees up to $50.8 million	As well as their direct contributions, the Group facilitated donations from customers and employees totaling $53 million this year, which we went to a wide range of community initiatives. Collectively across the Wesfarmers Group we directly contributed $50 million to community organizations this year, which equates to 1.5 per cent of profit before income tax.	The Corporation have made more contributions for the welfare of the community as compared to last year.

Introduction

Fuji Xerox Australia is a part of a world foremost venture for trade and text management services. With honors from the United Nations and the Banksia Environmental Foundation, Fuji Xerox is a recognized internationally for their promise to the sustainability .

It is an affiliation of Japan- based global entity Fuji Xerox Co Ltd, and a supplementary of the FUJIFILM Holdings Corporation and Xerox Limited in the USA. Within Australia, we function with their supplementary upstream print solutions- one of the leading manages print service supplier in the country (Fuji Xerox, 2014).

Comparison among Sustainability Report 2014 and 2015

Fujifilm Holdings upholds the Fujifilm Corporate Philosophy and elucidate the Fujifilm Group’s move toward to Corporate Social Responsibility (CSR) as a means for satisfying the social responsibilities of the corporation that are basic to this attitude.

The Fujifilm Group’s advance to CSR:

The Fujifilm Group’s Approach to CSR was to provide to the sustainable enlargement of society by putting into practice the Fujifilm Group’s Corporate Philosophy, and sympathetic its Vision through genuine and pale trade actions (Fuji Xerox, 2014).

We are proud of their physically powerful payment to the broader society in which we function. Fuji Xerox has a Workplace Giving Program whereby the company matches worker aid to colleague with gifts making a difference in the local communities and actively cheers donation of time to these reasons.

Fuji Xerox sees CSR as identical with corporate management and struggle to resolve matters for its customers and share value with their a variety of stakeholders by representation “unity of words and deeds” in their trade processes not just within their corporation or within their related corporations but over the entire value chain.

If we were to receive their customers’ trust as their “go-to” answer and service supplier in every circumstance, we must object to be a best corporation by fully put together their CSR attitude into the organization base fundamental their operations.

To attain that purpose, we have redefined prospect and danger in connection to their trade and recognized high-priority themes, which were frankly relevant to management, through conversation with stakeholders and deliberations of management in the CSR Committee. By clearly connecting each business unit’s task and goals to their high-priority management themes, we make sure that all workers see CSR as essential to their core trade, and we employ the individual workers to appreciate how their jobs narrate to their consumers and other stakeholders and thus to be pioneering in the way we do those jobs.

Accordingly, we will expand a civilization in which their faith that CSR was identical with corporate management was far more than a motto as the work of each worker becomes truly synonymous with CSR. We were dedicated to ensure that CSR infuse their trade procedures companywide and to hastening its additional addition with their trade.

The way the organization identify their material issues is based on the Account Ability AA1000 Assurance Standard and Global Reporting Initiative reporting principles (Fuji Xerox, 2014). This rigor helps us to methodically believe their stakeholders’ influence. We use Account Ability’s five-part materiality test, which seek out to recognize and prioritize sustainability  -related subjects.

SOCIAL: PRODUCT RESPONSIBILITY

At Fuji Xerox, the aim has been to solve the organization tribulations of each of their clientele by “building an environment for the creation and effective utilization of knowledge,” thereby sustaining the formation of new value for civilization. Thus, together with causative to the progression of civilization by development firm mutual trust, we aim to generate a civilization in which nationwide and local cultures flourish in all their diversity and people take pleasure in lives of private completion, realizing their hopes and dreams through individual development and growth.

Category	Aspects	G4Guidelines	Sustainability Report 2014	Sustainability Report 2015
ECONOMIC	Economic Performance	G4-DMA, EC1, EC2, EC3 and EC4.	Applicable	Applicable
Indirect Economic Impacts	G4-DMA, EC7 and EC8	Not Applicable	Applicable
Procurement Practices	G4-DMA, EC9	Applicable	Applicable
ENVIRONMENTAL	Materials	G4-DMA, EN1 and EN2	Not Applicable	Applicable
Energy	G4-DMA, EN3 and EN6	Not Applicable	Applicable
Water	G4-DMA, EN8	Not Applicable	Applicable
Biodiversity	G4-DMA, EN11 and EN12	Not Applicable	Applicable
Emissions	G4-DMA, EN15, EN16, EN17, EN18, EN19, EN20 and EN21	Not Applicable	Applicable
Effluents and Waste	G4-DMA, EN22, EN23,EN24, EN25 and EN26	Not Applicable	Applicable
Products and Services	G4-DMA, EN27 and EN28	Not Applicable	Applicable
Compliance	G4-DMA, EN29	Not Applicable	Applicable
Transport	G4-DMA, EN30	Applicable	Applicable
Overall	G4-DMA, EN31	Not Applicable	Applicable
Supplier Environmental Assessment	G4-DMA, EN33	Applicable	Applicable
Supplier Environmental Assessment	G4-EN32	Applicable	Not Applicable
Environmental Grievance Mechanisms	G4-DMA, EN34	Not Applicable	Applicable
SOCIAL: LABOR PRACTICES AND DECENT WORK	Employment	G4-DMA, LA1, LA2, LA3	Not Applicable	Applicable
Labor/Management Relations	G4-DMA, LA4	Not Applicable	Applicable
Occupational Health and Safety	G4-DMA, LA5, LA6,	Applicable	Applicable
LA8	Not Applicable	Applicable
Training and Education	G4-DMA, LA10 and LA11	Applicable	Applicable
Diversity and Equal Opportunity	G4-DMA, LA12	Applicable	Applicable
Equal Remuneration for Women and Men	G4-DMA, LA13	Applicable	Applicable
Supplier Assessment for Labor Practices	G4-DMA, LA15	Applicable	Applicable
Supplier Assessment for Labor Practices	G4- LA14	Applicable	Not Applicable
Labor Practices Grievance Mechanisms	G4-DMA, LA16	Not Applicable	Applicable
SOCIAL: HUMAN RIGHTS	Non-discrimination	G4-DMA, HR3	Applicable	Applicable
Freedom of Association and Collective Bargaining	G4-DMA, HR4	Not Applicable	Applicable
Child Labor	G4-DMA, HR5	Not Applicable	Applicable
Forced or Compulsory Labor	G4-DMA, HR6	Not Applicable	Applicable
Assessment	G4-DMA, HR9	Not Applicable	Applicable
Supplier Human Rights Assessment	G4-DMA, HR10 and HR11	Not Applicable	Applicable
Human Rights Grievance Mechanisms	G4-DMA and HR12	Not Applicable	Applicable
SOCIAL: SOCIETY	Local Communities	G4-DMA, SO1 and SO2	Not Applicable	Applicable
Anti-corruption	G4-DMA, SO3, SO4 and SO5	Not Applicable	Applicable
Public Policy	G4-DMA, SO6	Not Applicable	Applicable
Anti-competitive Behavior	G4-DMA, SO7	Not Applicable	Applicable
Compliance	G4-DMA, SO8	Not Applicable	Applicable
Supplier Assessment for Impacts on Society	G4-DMA, SO9 and SO10	Not Applicable	Applicable
Grievance Mechanisms for Impacts on Society	G4-DMA, SO11	Not Applicable	Applicable
SOCIAL: PRODUCT RESPONSIBILITY	Customer Health and Safety	G4-DMA, PR1 and PR2	Not Applicable	Applicable
Product and Service Labeling	G4-DMA, PR3, PR4 and PR5	Applicable	Applicable
Marketing Communications	G4-DMA, PR6 and PR7	Not Applicable	Applicable
Customer Privacy	G4-DMA, PR8	Not Applicable	Applicable
Compliance	G4-DMA, PR9	Not Applicable	Applicable

Sustainability  in its broadest sense underpins their trade. Their liability to interior and outer stakeholders spans the three pillars of sustainability  (Fuji Xerox, 2014).

Whether we are workers, clientele, business associates or the broader society, theirstakeholders anticipate the corporation to act as a high-quality business inhabitant by ruling the right balance among financial, ecological and communal deliberations. The Sustainability  Report of the organization details the organization’s financial, communal and ecological presentation.

Environmental sustainability   is well–entrenched in their trade, because of long-lasting promise to ecologically accountable goods design and an extended creator responsibility.

Fuji Xerox technology and services we were intended and administered to recover sustainability  presentation for clients.

As financial globalization persist quickly along with proceeds in information technology, civilization faces dispute that are fetching more and more hard to determine as we produce ever superior in both level and difficulty. Matters that command instant act assorts from the progressively more severe worsening of the worldwide surroundings to Japan’s rapidly falling birthrate, aging inhabitants, and moribund local vivacity, the broaden digital divide, and the rising danger of natural tragedies.

Category	Sustainability   Report 2014	Sustainability   Report 2015
ECONOMIC	The Australian economy was generally flat in 13/14. The corporation have achieved consolidated revenues of about AU$1 billion in 13/14.But there was no CO2 certification with the Carbon Reduction Institute (Fuji Xerox, 2015).	Fuji Xerox Believes hat conducting social contribution activities in order to fulfill their obligation towards community, improve the initiative and self realization ability if each other of the workers. Revenue (consolidated) and Net income before income taxes (consolidated) for fiscal 2014 was 1188.9 billion yen and 91.9 billion yen respectively. Contribution to CO2 reductions at our customers’ offices to 3,206 kt-CO2. Efforts are being made both in our products and our business activities toward three issues: reducing global warming, preserving natural resources, and reducing the risk of chemical substances.
ENVIRONMENTAL	As a billion dollar corporation it has been committed to the principle of UN Global Compact  accountable procurement and sharing the commitment to the sound environmental, social and governance practice with the supplier as it was essential.	The corporation  have made efforts to grasp material flow for decreasing environmental burden, works on decreasing the emission of C02 that cause global warming, pro active use of resources have been made, etc.
SOCIAL: LABOR PRACTICES AND DECENT WORK	Hiring of talented people and offering training to enable their business transformation.	Total number and rate of new workers have changed, benefits have provided to full time workers tat were not granted to temporary or part time workers, etc.
HUMAN RIGHTS	With regard to conflict minerals, the corporation policy has been made to avoid, honestly or ultimately being implicated with conflict or abuse of human rights.	The corporation has identified different categories of social issues in order to concentrate on the broad spectrum of contemporary issues. And have identified a high-priority management theme through a procedure that takes account of social situations. The corporation also operates on a morale of CSR, etc.
SOCIETY	They have built a foundation of ethics and integrity they minimize he impact on planet and add value to the society.	Complying with laws and carrying out trade in a fair and honest manner. Corporation supports the United nations Global Compact and has become a signatory in 2002. Annual loss of natural resources which have taken place was 13million hectares in which share of FSC certified wood was about 5 percent, Social issues related to logging have emerged, etc.
PRODUCT RESPONSIBILITY	By making a Good product and providing serives they were able to deliver value to their consumer bottom-line and drive environmental benefits.	Offer safe and secured products for use which can be observed from the report which indicates that the number of severe accidents have been 0, contribution towards decreasing the omission of Co2 have increased to 3,729kt-CO2, etc. Aims to enhance customer satisfaction

Elements	Sustainability   Report 2014	Sustainability   Report 2015
Guidelines	The 2014 report has been made as per the Global Reporting Initiative G4 Core Guidelines. The governance of the business and the strategic direction has been decided among Fuji Xerox Australia and Fuji Xerox Asia Pacific. The business would work as per Asia Pacific guidelines.	The corporation’s Sustainability  report was equipped in accordance with the Core of the G4 Sustainability   Reporting Guidelines of the Global Reporting Initiative. The corporation consulted the 2012 edition of the Japanese Ministry of the environment’s Environmental Reporting Guidelines (Fuji Xerox, 2015).
Factors	The organization believes conclusion of official appraisal was impacted by a number of factors including: the organization reorganize  corresponding with the last phase of the yearly presentation appraisal process, at which time system modifications we were required to reproduce new reporting lines and conclusion of official review we were postponed. Worker  statistics in theirpresentation organization scheme include new starter who may not yet have come into the performance appraisal cycle.	Growth in corporate value as a company committed to CSR, through the increasing influence if socially responsible investing and ESG investing.

Socio- Economic Changes in 2014

Economic- In this year, with the current weather and augmented cost force a center has been put on monetary sustainability   which has been seriously significant. Paper product has been used to make a sustainable environment at low cost (Fuji Xerox, 2014).

Environmental and Social- Through their goods, services and answers we are able to transport value to their customers’ bottom line and make ecological reimbursement through Green Print technologies and services, sustainable paper supplies including new NCOS carbon neutral certified goods and optimized print surroundings.

Economic- For the purpose of economic development the organization have made changes by giving answers and services to contest the exact desires of the consumers (Fuji Xerox, 2014).

Environmental and Social- with different deals in mind, the organization was creating new values by developing products that seamlessly integrate the environmental technologies which we have developed. More effective utilization of resources should be done.

SOCIAL: HUMAN RIGHTS

PART C Conclusion and Recommendations

Both of the Corporations which have been mentioned above in Part A and Part B have different lines of trade. One deals with coal mines and the other organization deals with the management of paper and documents services. Both have made various improvements in order to make a sustainable future for the upcoming generation and also to make use of the resources efficiently.

We have also made various economic and social changes which have helped the environment in one way or the other. So it has been highly recommended that we should also make certain products and services which would be used by the individuals in such a manner that would not only would be beneficial for the present but can be utilized in the same way by the future generation. The corporations should try to include all the G4 guidelines which have been made for the betterment of the consumers.

The organizations should also such products which should not be hazardous and harmful if any consumer uses it. All the Corporate organizations should adopt such initiatives which would help the society as whole as people live in the community so we should take responsibility to make the society a better place to live.

Any harmful or unconscionable act should be avoided so that the corporation can work effectively for attracting more consumers.

Prior to the study and analysis of the  which have been done in this report it was understood by the accountant that corporate governance include the rules which govern all the corporate organizations in Australia. The organization had various responsibilities towards its corporation and people and at the same time the employees also had an obligation to act in such a manner as defined and asked for. But it was also the duty of the  people of the organization that we should not be indulged in any kind of unlawful act and at the same time should behave and act in accordance with the society welfare.

All the corporations should be abide by the provisions of ASX principles i.e. Australian Stock Exchange in order to be listed as a public entity and for the purpose of getting recognized in a lawful manner.

Corporate Social responsibility was a new concept which has been adopted by the organizations for working for the benefit of the society. It was established in order to avoid any kind of unlawful acts such as insider trading and oppression which we were seen as keen acts which every organization faces.  All such rules and laws have been followed in order to work for the benefit if the public and in such a manner so that we should not be harmed. 

The sustainability   of every report of the organization reports the cases related to any environmental. Social or economic governance actions which have taken place in the year and what all things the organization would keep in mind for avoiding any other further acts.

By studying both the sustainability   reports of the corporations it has been understood that all the organizations have now being aware and have decreased such acts as we have adopted CSR initiatives and also some Global Integrating Initiative guidelines so that all the standard disclosures can be made by the people who have fear to speak up and report such acts. The employees can also do make aware the directors by blowing whistle and making them aware about such acts which could take place in future.

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