6) Sustainability reporting expands a firm’s performance report to include not only economic
performance, but also a firm’s performance as it relates to ________ responsibility.
7) The ________ sustainability reporting framework of guiding principles for establishing an
environmental management system (EMS).
8) The ________ offer guiding principles for sustainability and a framework that integrates
sustainability into management decision making.
9) The ________ is the most widely used approach to sustainability reporting.
10) The two criteria to evaluate frameworks for reporting and evaluating sustainability
performance are ________.
11) The success of a framework or model is often based upon not perfection, but ________.
12) In order to be effective, the sustainability report must provide information about the
organization’s sustainability performance in a relatively straightforward and understandable
manner. In business, this is described as the ________.
13) The ________ is an internationally recognized green building certification system, providing
third-party verification that a building or community was designed and built using strategies
aimed at improving performance across all the metrics that matter most.
Match the sustainability framework with the appropriate definition.
A) Enables organizations to identify and control their environmental impact, continuously
improve their environmental performance, and implement a systematic approach to setting and
achieving environmental targets.
B) Provides a resource summarizing various frameworks used in accounting for sustainability.
C) Provides a sustainability reporting framework of which the G3 guidelines are the cornerstone.
D) Requires ISO 14001 as the environmental management system.
E) Provide guiding principles for sustainability and a framework that integrates sustainability
into management decision making.
14) ISO 14000 ENVIRONMENTAL MANAGEMENT
Diff: 1
Objective: Q8.4 How is sustainability accounting used for reporting performance?
15) EMAS EUROPEAN UNION
Diff: 2
Objective: Q8.4 How is sustainability accounting used for reporting performance?
16) SIGMA GUIDELINES
Diff: 2
Objective: Q8.4 How is sustainability accounting used for reporting performance?
17) INTERNATIONAL FEDERATION OF ACCOUNTANTS (IFAC) SUSTAINABILITY
FRAMEWORK
Diff: 2
Objective: Q8.4 How is sustainability accounting used for reporting performance?
18) GLOBAL REPORTING INITIATIVE (GRI)
Diff: 2
Objective: Q8.4 How is sustainability accounting used for reporting performance?
19) Which sustainability reporting framework focuses on providing guidance to organizations in
creating an environmental management system (EMS)?
A) ISO 14000 Environmental Management
B) EMAS European Union
C) Sigma Guidelines
D) Global Reporting Initiative (GRI)
20) Which sustainability reporting framework was a joint undertaking of the British Standards
Institution, Forum for the Future, AccountAbility, and the UK Department of Trade and Industry
and provides guiding principles for sustainability and a framework that integrates sustainability
into management decision making?
A) ISO 14000 Environmental Management
B) International Federation of Accountants (IFAC) Sustainability Framework
C) Sigma Guidelines
D) Global Reporting Initiative (GRI)
21) Which sustainability reporting framework is the cornerstone of the G3 guidelines?
A) International Federation of Accountants (IFAC) Sustainability Framework
B) EMAS European Union
C) ISO 14000 Environmental Management
D) Global Reporting Initiative (GRI)
22) In order for a model to be accepted throughout an organization and provide a common
language for communicating and understanding issues, the sustainability reporting model must
be
A) Transparent and effective
B) Understandable and efficient
C) Translatable and transparent
D) Inexpensive and understandable
23) To be effective, how must the sustainability report provide information about the
organization’s sustainability performance?
A) In an electronic format
B) In a hard copy format
C) In a relatively straightforward and understandable manner
D) In a timely manner
24) Which of the following is the emerging form of common currency in the built (building’s)
environment?
A) H2O
B) CO
C) H2O2
D) CO2
25) Describe the sustainability reporting framework ISO 14000 Environmental Management.
What specification is NOT included in this framework.
26) What are the four steps required for an organization to receive EMAS registration?
27) What are the G3 guidelines provided by the Global Reporting Initiative (GRI)? Provide
examples.
28) The Global Reporting Initiative give grades to companies. What are the grades and how are
they earned?
29) What is required for a sustainability reporting model to be effective?
Objective 5
1) In integrated reporting, thinking does not include considering long-term success.
2) Integrating reporting combines the financial report and sustainability performance into one
report.
3) An integrated report does not show how business decisions and performance are connected.
4) An integrated report provides insights into an organization’s relationship with its key
stakeholders.
5) An integrated report consists of one report containing ________ and ________ information
about an enterprise’s economic, social, and environmental performance.
6) Integrated reporting moves from rule-bound reporting to ________ reporting to respond to
individual company circumstances.
7) In integrated reporting, trust is improved by shifting from narrow disclosures to greater
________.
8) Which of the following is NOT one of the guiding principles of integrated reporting?
A) Strategic focus
B) Responsiveness and stakeholder inclusion
C) Short-term orientation
D) conciseness, reliability, and materiality
9) Which guiding principle of integrated reporting attempts to moves from the historical
perspective to the long-term perspective?
A) Strategic Focus
B) Connectivity of Information
C) Responsiveness and Stakeholder Inclusiveness
D) Conciseness, Reliability, and Materiality
10) Which guiding principle of integrated reporting attempts to provide stakeholders with
management’s expectations about the future?
A) Responsiveness and Stakeholder Inclusiveness
B) Strategic Focus
C) Conciseness, Reliability, and Materiality
D) Future Orientation
11) Which guiding principle of integrated reporting attempts to improve transparency of
reporting on key economic, social, and environmental issues?
A) Connectivity of Information
B) Responsiveness and Stakeholder Inclusiveness
C) Strategic Focus
D) Conciseness, Reliability, and Materiality
12) The two primary benefits of integrated reporting are
A) Increased production and improved profit
B) Increased good will and improved focus
C) Increased efficiency and improved communication
D) Increased connectivity and improved inclusiveness
13) List and explain how integrated reporting is different from traditional financial reporting.
14) List the five guiding principles of integrated reporting.
15) Define the five guiding principles of integrated reporting.
16) What are the two primary benefits of integrated reporting?
17) Traditional reporting adds more information while integrated reporting attempts to remove
clutter and focus on making key connections clear. What is the challenge must this benefit must
address?
18) Integrated reporting combines two different types of reports into one report to better explain
and enterprise’s ability to create and sustain value. What is the challenge this benefit must
address?
Objective 6
1) What are Novo Nordisk’s long-term financial goals?
2) What are Novo Nordisk’s three dimensions of social performance?
3) Buildings in the United States account for what percentage of potable water consumption?
A) 14%
B) 23%
C) 30%
D) 68%