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• Responsible business practice for large organisations
• Large Org Forum

Initiatives

• CRI - Corporate Responsibility Index
• GRI - Global Reporting Initiative
• UNGC - UN Global Compact

Responsible business practice for large organisations

The Responsible Business Practice Project (funded by Federal Treasury) recognises business’ lack of certainty on how to engage with the Responsible Business Practice (RBP) agenda. 

Transparency, trust, confidence and comparability are emerging as key themes in the new economic and environmental climate.

The Project is currently working to establish key global initiatives - to build a trusted hub of international and local resources.

These include the following -

UN Global Compact: a commitment to a universal set of principles from which to conduct responsible business practice and connect with a global community   

Global Reporting Initiative: the international framework in sustainability reporting

Corporate Responsibility Index: robust management and benchmarking tool

Each initiative is linked to an international body ensuring a global approach to corporate responsibility.    

In addition, the CRI Leaders Network (ANZ, EnergyAustralia, Toyota and Westpac) have mapped the three initiatives for cross-referencing – see Making the Way Clear. These documents were created by practitioners, for practitioners and we welcome your active feedback.  

Where do I start?

Two complementary structures provide a foundation and framework (respectively) for corporate responsibility in Australia.

1. The UN Global Compact (UNGC) and a number of directly associated UN initiatives (such as the UNPRI) provide the normative foundation for all aspects of corporate responsibility.  That is, the UNGC provides a set of foundation principles, endorsed by the UN General Assembly and backed by associated instruments, that underpin more detailed frameworks and tools. While general principles provide an excellent foundation – something more is needed by business if it is to make tangible progress in improving performance:  "What gets measured gets managed" -  there needs to be a framework for measurement.
    
2. Of the available frameworks, the best, most widely endorsed internationally is the Global Reporting Initiative (GRI).  Furthermore, the GRI has been 'mapped' to the UNGC – an exercise that has demonstrated the neat fit between the two.  The combination of the two elements (UNGC+GRI) represents ‘foundation + framework’.  Although each is a separate piece, the combination of elements is stronger than the parts (and the combination makes each part stronger).
    
3. There is now space at the top for the development and application of a series of tools – each specifically designed to meet the needs of a different segment of the economy.  The key to this model is that each and every tool must meet a basic design requirement – that it be consistent with the GRI/UNGC framework/foundation.  This then allows for a variety of tools to be developed and for competition and innovation, in this space, while maintaining the integrity of the system as a whole.
   
   The Corporate Responsibility Index (CR Index) has now been mapped to the GRI – which means that it can be offered as a tool that meets the requirements of the GRI/UNGC.  The CR Index is a strategic management tool designed by business for business, providing a systematic process that assis ts companies to identify their non-financial risk, as well as develop and improve corporate responsibility in line with their business strategy. It provides a benchmark for companies that are committed to managing, measuring and reporting their impact on society and the environment.
    
   Other tools such as our national SME Responsible Business Project resources (currently being developed), will have this same ‘family resemblance’. Over time we will work to map other key frameworks to this model. 

Guiding principles of the HUB :

• Acknowledge excellent initiatives already underway in Australia
• Avoid duplication
• Draw together key stakeholders and innovators to facilitate the flourishing of national networks and laboratories of best practice
• The overall Responsible Business Practice project will be characterised by inclusivity and creativity culminating in the building of a national hub – a collaborative ‘neutral’ entity.

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