CSR Guidelines for the Financial Sector - page 70

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Maturity Level
Reporting is a clear practicewith the option and opportunity to benchmark reports within the same sector and in the
global arena. However, for organizations to ascertain their own individual maturity level in this respect, theymay
wish to consider the following:
1. Do you report internally?
2. Do you report externally?
3. If you report, do you report using an internationally recognized guideline?
4. If you report and you don’t use an internationally recognized guideline, do you engagewith your stakeholders to
identifymaterial issues to report on?
5. If you report, do prepare the report internally or does a third party prepare it?
6. How long have you been reporting for?
7. If you have been reporting externally formore than two years, have you held yourself accountable for
commitmentsmade in previous years?
Based on the answers to the above, you can ascertainwhichmaturity level your organization falls within.
Value
Compliance:
The organization
that seeksmere
compliance
provides the sheer
basic reporting
requirement i.e.
financial
statements and as
may be applicable,
basic non-financial
information such
as governance
structure etc.
Lip Service:
An organization
within thismaturity
level probably
reports internally
andmay report
externally but
based on no
specific guideline
and is simply
communicating
activities without
assessing
sustainability,
impact or value of
such activities.
VISION:
An organization
with a vision
towards CSR
reporting is
probably an
organization that is
investing in
identifying the right
resources; all of
human, budget
and time resources
be it internal or
external, to
undertake the task
of preparing such
report. It also
ensures that the
organization is now
actively interested
in capturing the
relevant
information to
prepare a.
Management
System / profit
Center:
An organization
that sees the profit
variable of CSR
Reportingwould be
highly engaged
with its
stakeholders in the
preparation of the
report to ensure
that it
communicates the
material
information and to
maximize on the
potential value
through such
communication.
The organization
would probably
have reported
periodically
communicating its
achievements,
goals and targets.
Full Integration
Growth engine:
An organization
that reports on its
CSR as part of its
business, commits
toCSR publically
and on a regular
basis
communicating its
challenges,
improvements and
all associated data
to ensuring its
communication is
accountable and
transparent.
Maturity
1...,60,61,62,63,64,65,66,67,68,69 71,72,73,74,75,76,77,78,79,80,...87
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