By Elena Avesani, Principal Product Strategy Manager, Oracle
In July of 2010, France took a significant step towards mandating
integrated sustainability
and financial reporting for all large companies with a new law called Grenelle II. Article 225 of Grenelle II requires that many listed companies on the French stock exchanges incorporate information on the social
and environmental consequences of their activities into their annual reports, as well as their societal commitments for sustainable development. The decree that implements Article 225 of Grenelle II was passed in April 2012.
Grenelle II is the strongest governmental mandate yet in support of sustainability reporting. The law defines the phase-in process, with large listed companies expected to comply in their 2012 reports
and smaller companies expected to comply with their 2014 annual reports. This extra-financial information will have to be embedded in the annual management report, approved by the Board of Directors, verified by a third-party body
and given to the annual general meeting. The subjects that must be reported on are grouped into Environmental, Social,
and Governance categories.
Oracle solutions can help organizations integrate financial
and sustainability reporting
and provide a more accurate
and auditable approach to collecting, consolidating,
and reporting such environmental, social,
and economic metrics. Through Oracle Environmental Accounting
and Reporting
and Oracle Hyperion Financial Management Sustainability Starter Kit organizations can collect environmental, social
and governance data
and collect
and consolidate corporate sustainability reporting data from multiple systems
and business units.
For more information about these solutions please contact
[email protected].
