Corporate Governance And Ethics Practice

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Corporate Governance And Ethics Practice

This report looks at the differences of the sustainability report for year 2011 of the two companies that from the same automotive industry and based in different countries The first company is a Volkswagen Group which is a German multinational automotive manufacturing company based in Wolfsburg and founded in 1937 The area served of Volkswagen Group is worldwide and it produced almost 85 million vehicles in year 2011 It is one of the worlds leading motor automobile manufacturers and has kept the largest market share in Europe for over 20 years Wikipedia 2012 The second company is a Mazda Motor Corporation which is the Japanese automotive manufacturer headquartered in Fuchu Aki Hiroshima and founded in 1920 The area served of Mazda Motor Corporation is worldwide and it produced almost 13 million vehicles for global sales in 2007 Wikipedia 2012

Are all the car manufacturers harmful to society and environment Based on these two firms sustainability reporting both firms have revealed that they are taking their corporate social responsibility seriously which will audit and measure their activities and putting money into green research The two automotive companies of course have to comply with toughening fuel economy regulations reduce the impact of global warming and be more compliant because there is an increasing market demand that new generation of consumers are looking at fuel economy and sustainability mobility for making decision for what they buy For fuel economy regulations according to Feng Amanda 2004 in their report for Pew Center on Global Climate Change that the European Union EU and Japan have the most stringent standard for requirement for gasoline new passenger car fuel efficiencies as shown in their report

For the purposes of this assignment the focus will be on sets out the differences between the reports of the two companies on in terms of the range of issues dealt with in the reports and the depth of the coverage explains to the differences between the two reports in terms of country factors assesses the quality of the reporting in terms of Zadeks 1997 criteria ie inclusivity comparability completeness evolution management policies and systems disclosure external verification and continuous improvement evaluates the extent to which it would be appropriate for the two companies to use a standardized approach and makes recommendations about how each of the reports could be improved and why

DIFFERENCES BETWEEN THE TWO REPORTS IN TERMS OF THE RANGE OF ISSUES DEALTH WITH IN THE REPORTS AND THE DEPTH OF THE COVERAGE

The sustainability reports of these two automakers have look into consideration of ESG criteria Environmental social and corporate governance and making major strides in these similar sustainability issues Management Approach Corporate Governance and Ethics Practice Environmental Protection Product Quality and Safety Workplace Practice Human Rights and Community Practice

In terms of reporting structure Volkswagen Group had divided the report to eight chapters which are strategy economy society CSR projects worldwide sustainability mobility environment key indicatorsfigures and backup On the contrary Mazda Corporate had identified the six chapters which are Mazda CSR management environmental protection social contributions customer satisfaction and respect for people The next few paragraphs of this report will looks at the coverage of the issues dealt in these chapters and the differences between the two sustainability reports

Management Approach

At Strategy chapter Volkswagen Group had disclosed the management approach on CSR strategy in eight pages that covered company new sustainability objectives development of top class team sustainability requirements for suppliers management approach to the sustainability mobility sustainability management of corporate social responsibility stakeholder dialogue global compact cooperation with Biodiversity Conservation Union NABU and the complia

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