Part III.

Environmental Business Issues

Direction: Please fill in the bracket by putting a check mark opposite the
item that corresponds to your answer using the interpretation below.
Numerical Value Description
5 To a very large extent
4 To a large extent
3 To some extent
2 To less extent
1 Not at all
A. Accounting Concerns
To what extent do the following concerns affect the reporting of environmental
information?
1. Regulatory requirements and legal compliance as provided by regulatory
frameworks.
2. External pressures (e.g. those coming from customers, shareholders, etc.)
3. Improvements of companys image and/or reputation.
4. Positive effect in the companys share price, if applicable
5. Financial and operational benefits such as cost reduction and production
efficiency.
6. Effective measurement of the results of the companys corporate social
responsibility (CSR) including environmental performance to achieve
improvements.
7. Promotion of environmental commitments that may positively influence
other companies.
8. Assessment and evaluation of eco-efficiency and/or sustainability of
companys activities.
9. Consideration in other business strategies (e.g. product pricing, budgeting,
etc.)
10. Awards given by relevant award-giving bodies.
11. Management triple-bottom line reporting in the aspects of environment,
social and governance.
12. Others, please specify__________________
B. Principles Application
To what extent do the following principles are applied in reporting environmental
information?
1. Environmental reporting is in accordance with existing sustainability
reporting frameworks (e.g. ISO14000, Global Reporting Initiatives (GRI) or
other applicable frameworks)
2. Information is expressed in terms that are clear and corresponds to the
users needs.
3. Mathematical calculations included in the environmental reports are
accompanied with well-structured explanations.
4. Information reported aims to measure the achievement of set
environmental targets by establishing and reporting Key Performance
Indicator (KPI).
5. Environmental reports aim to show how environmental targets are
achieved and can be improved in the future.
6. Reports are made standardized (use same format) to improve
comparability (e.g. highlight improvements)
7. Reports measure changes of the degree of environmental impact (e.g.
carbon emission) and cover all important aspects of environmental impact.
8. Results to be presented are assessed in relation to current performance to
monitor undesired outcome and prevent outdated information.
9. Financial information disclosed in the report is verified by an independent
auditor.
10. Transparency of the report is assured through provision of valid and
reliable information.
11. Others, please specify________________


C. Disclosures in Annual Reports
To what extent the following environmental information are disclosed in
environmental/annual reports?
1. If there is a limited space in annual report, references to environmental
reports are made.
2. Policies and principles that guide the environmental performance of the
company are included in the environmental reports.
3. Environmental targets and objectives that the company aimed to
accomplish are enumerated in the environmental reports.
4. Company highlights improvements of environmental performance by
disclosing KPI (Key Performance Indicator).
5. Statements referring to compliance with mandatory environmental
obligation are disclosed (e.g. site restoration)
6. Planned environmental audit/study as well as those already performed by
the company are disclosed in the environmental report.
7. Affiliated companies for environmental projects are listed.
8. Environmental investments are fully disclosed.
9. Environmental organizational structure of the environmental management
department is presented in the report.
10. Environmental guidelines used by the company are included in the report.
11. Company disclosure environmental risks associated with its operations
including how it is managed.
12. Environmental research and development projects are disclosed in this
report.
13. Training of staff for environmental operation is included in the report.
14. Environmental-friendly products and processes of the company are
disclosed in the report.
15. Environmental financial information are reported in the financial statement,
if applicable.
16. Corporate commitment in promoting environmental concerns is stated in
this report.
17. Emissions of greenhouse gasses (GHGs) (e.g. Carbon dioxide (CO2),
Methane (CH4), etc.) are disclosed.
18. Consumptions of natural resources (e.g. water) are disclosed.
19. Waste (non-product output) disposal and waste management are
disclosed.
20. Recycling or reuse of materials in companys operation is disclosed.
21. Bio-diversity/wildlife conservation is also disclosed, if applicable.
22. Environmental remediation is publicized by reporting in
environmental/annual report.
23. Environmental incidents/accidents are likewise disclosed in the report.
24. Statements that affect environmental legislation (e.g. involvement in legal
proceedings) are disclosed.
25. Environmental fines and sanctions incurred by the company as a
consequence of environmental negligence are disclosed.
26. Different environmental expenditures are disclosed categorically in
environmental report.
27. Provisions for environmental liabilities are quantified and included in the
report.
28. Recoveries from third-parties including insurance claims are included in
the environmental report.
29. Environmental revenues (e.g. subsidies, tax exceptions, earning from
selling recyclable wastes) are disclosed.
30. External awards and recognitions is reflected in the environmental report.
31. Environmental report includes stakeholders testimonials.
32. Others, please specify_________________


D. Disclosures in the Documentation
To what extent environmental information is disclosed in the following documents
or reports that the company produces?
1. Separate environmental report is produced to disclose environmental
information.
2. If deemed appropriate, environmental disclosures are made in the
annual/financial report.
3. Companys website is utilized to include companys environmental
concerns and initiatives.
4. Reports and other documents that are required to be filed to government
include environmental impact of the companys operations.
5. Environmental information are publicized through press releases.
6. Together with other news, information concerning environmental
performance is reported in the company-produced newspapers.
7. Others, please specify_________________
E. Reasons for Non-Disclosures
To what extent the following reasons deter the company in disclosing certain
environmental information?
1. Some environmental expenditure is hard to define.
2. Limited space in annual reports.
3. Some provisions for environmental liabilities are hard to estimate.
4. Some information may be negative to the point of view of the user.
5. Some information is considered confidential by the management to be
disclosed.
6. Others, please specify___________________

A. Disclosures Improvements
Suggestions that can be made to improve disclosures in the financial/annual
reports?
Numerical Value Description
5 To a very large extent
4 To a large extent
3 To some extent
2 To less extent
1 Not at all
1. Clearer disclosures of integration of environment affairs with business
management.
2. Coincides reporting cycles of environmental report annual/financial report.
3. Disclose broader range of environmental performance indicator.
4. Educate users of environmental and annual/financial report to increase
their understanding on the information presented.
5. Provide specific environmental section or subsection in annual reports if
there is no separate environmental report.
6. Better estimation/understanding of contingent liabilities and environmental
investments.
7. Give the environmental departments more control over environmental
information in annual/financial report.
8. Adhere to existing sustainability reporting frameworks.
9. Use benchmarks comparisons.
10. Increase disclosure of relevant ethical and social information.
11. Include supporting evidence to increase transparency of the report.
12. Use performance indicators that highlight improvements.
13. Others, please specify____________________
Part IV. Effects of Environmental Accounting
A. Management Decision-making
1. Environmental expenses and investment are taken into account in costing
companys service (e.g. environmental charge)
2. The company provides funds to be tied up in the environmental projects.
3. In calculating investing options, qualitative and quantitative environmental
benefits and expenses are considered.
4. Other business strategies, please specify____________
B. Financial Performance
1. Development of products that require less input (materials and energy)
2. Reduction of material uses (e.g. rejects and scraps resulting waste
emission).
3. Cost reduction for waste and emission treatment and disposal cost (e.g.
personnel handling waste, storage and landfill cost, fees for disposal and
transport, insurance and liability, site production permit, etc.)
4. Saving for insurance, liability and remediation cost (e.g. reduced risk of
damage, spills, land contamination, and clean-up obligation)
5. Reduced maintenance (labor and material) because of eco-friendly
product designs and cleaner technologies.
6. Additional earnings from sale of new by-products (e.g. waste materials
that were turned to marketable by-products).
7. Future environment savings through anticipation of land policy changes
(e.g. stricter emission allowances, prohibited use of hazardous materials).
8. Others, please specify__________________
C. Competitive Advantage
1. Customer satisfaction that leads to customer preference.
2. Image/reputation is improved.
3. Increased companys share price, if applicable.
4. Better relations with authorities resulting to reduced regulatory compliance
costs.
5. Better credit worthiness with banks, reduced insurance rates, good rating
by investment brokers and agencies.
6. Better public stockholders and community relations.
7. Others, please specify_______________