Environmental And Social Reporting- Rolls Royce Group Essay

Environmental And Social Reporting- Rolls Royce Group - Essay Example The company operates four segments of civil aerospace, defense aerospace, marine and energy. The company’s highest revenue generating segment is the civil aerospace which generates around 50% revenue of the group. The company has shown consistently progressive and strong performance over the years and is one of the market leaders in all sectors in which operates with an annual turnover of  £11,124 million and a profit of  £ 848 million. (ROLLS-ROYCE) CORPORATE SOCIAL RESPONSIBILITY: Sustainability reporting provides a chance to the organizations to report information about economic, environmental, social and governance performance to its investors and stakeholders. GRI (Global Reporting Initiatives) provides a framework for the organizations to disclose this information in a much transparent and consistent manner. (GLOBAL REPORTING INITIATIVES) Strategy and Profile: Rolls Royce has committed to serve with new approaches and technologies for sustainable economic growth. It aims to invest for long term, promote innovation and focus on research and development. It sustainability programs are especially designed keeping in mind the environment, its people and the society and communities in which it operates. Its environmental strategy focuses on three areas of reducing the environmental impact of the business activities; further reducing the environmental impact of the products; and developing of new low emission and renewable energy products. Its strategy for its people includes creating a working environment that attracts the best people, enhancing their potential and encouraging them to be involved in the ongoing success of the Group. It intends to serve for the communities in which operates focusing on their development. (ROLLS-ROYCE) Management’s approach and Performance Indicators: Environmental Issues: The company has taken significan t steps in reducing its greenhouse gas emissions. Targets have been made for the reduction and energy consumptions for top 25 energy consumption sites. As a result there has been 5-6% overall reduction in the total GHG emissions. Further the company even invested ?3.5 million for the maintenance and improving projects for sustainable development. It has further put special focus to reduce its environmental footprint in its aviations business by incorporating sustainability in products designs and processes. (ROLLS-ROYCE; LEE. 2000) The company has Environmental Advisory Board who contributes in business strategy and design process. The company is even striving to reduce its environmental footprint created by existing products. For this it has created targets to be achieved for the aviation business for the reduction in CO2 emissions, noise and nitrogen oxide. The company through his core capabilities and experience in nuclear energy also intends to give solutions and address the iss ues zero carbon power generation. (ROLLS-ROYCE) Rolls Royce continues to mark its performance through certifications and third party accreditations like ISO 14001 for its environmental management, its new facility at Seletar received the Green Mark (Platinum) award for having a reduced environmental footprint in construction, retains its Gold status with BitC Index for