Leading Sustainable Performance - Essay Sample

Introduction

Within the United Arab Emirates, precisely in Abu Dhabi, there is more focus given to the sustainability concept. The government, stakeholders, non-governmental organizations, customers employees and customers are concerned about the two ideas: Economic, Social and Environment or Profit, People and Planet' and Triple Bottom Line. Various studies have been conducted to research the positive outcomes brought about by corporate sustainability in Abu Dhabi. Corporate sustainability involves a series of activities. These activities include; exploration in accountable reporting, assessment of risks, governance, sustainability of the business and reporting (Wan Ahmad, Brito & Tavasszy, 2016).

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Recently, many companies in Abu Dhabi have started adopting integrated reports, whose assurance is provided by Auditors. Looking at the list of companies that are leading in sustainability performance, I will major on one that deals with activities that could harm people and environment. The company is an energy provider that has made relentless efforts in ensuring that gas and oil resources in the country are maximized for the benefit of the customers and the state at large. Abu Dhabi has been ranked fourth on having the national oil reserves in the world. The country has an oil production of more than two million barrels a day.

Moreover, the company has created mutual relationships that are beneficial with its stakeholders. The company is well aware of the responsibilities to the stakeholders as an energy supplier. Different decisions and opinions are reviewed to provide and maintain a perspective globally. Opportunities are also created putting first the interests of shareholders of which in turn improves the company. The success of the company and is relationships has been made possible by a determined corporate organization that makes sound decisions and measures the performance of its activities. The structure of the corporate administration ensures quality, the safety of the employees and contractors, reputational risks are effectively managed, and the company's mission is upheld.

Looking at the type of venture, securing the environment is such a massive test for the company. The company has endeavored to make the workplace safe and has resolved a productive strategy in guaranteeing that the environment is conserved. Furthermore, the company is relentless in the pursuit of delivering affordable and positive energy. It takes a significant consideration on the emanation of the greenhouse gas. It converts the gases emanated to cleaner or instead gases that have the least effect on the environment. Transport and distribution of oil is also another key area the company has worked to improve. The less the spills, the safer the environment and people because fuel and other sources of energy are a fire risk.

Sustainability performance reports that comply to EGSEE are compiled after certain periods every year. The staff of the company has been trained to provide the reports through workshops. The digital reports are availed to the public and can be found on the website of the company. It is also worth mentioning that the Global Reporting Initiative prepares the statements. The criteria used in the assessment of the company has factors like Risk Management, corporate governance, innovation management and code of conduct (Cunha & Moneya, 2016).

Conclusion

In conclusion, many challenges are associated with corporate reporting. The company in the discussion has tackled most of them. As mentioned earlier, the corporate organizational structure ensures that the reports are value-relevant to different stakeholders and that the reports are forward-looking. The reports prepared also involve information relevant to EGSEE dimensions of sustainability report hence are clear, transparent and reliable.

References

Cunha, D. R., & Moneva, J. M. (2016). Environmental Reporting of Global Oil Companies. International Research Journal of Finance and Economics, 158, 84-97

Wan Ahmad, W. N. K., de Brito, M. P., & Tavasszy, L. A. (2016). Sustainable supply chain administration in the oil and gas industry: A review of corporate sustainability reporting practices. Benchmarking: An International Journal, 23(6), 1423-1444.