The company wishes to provide appropriate CSR reporting and has asked you to advise them with regard to what groups they should consider and to provide a list and descriptions of the information they might provide.

Comment on BP’s social and environmental practices.

today’s information economy. Valuing intangible assets—human capital, environmental capital, alliances and partnerships, brand and reputation—must complement the valuation of conventional tangible assets—factories, equipment, and inventory. Under the rubric of ‘business reporting’, ‘intangible assets analysis’, and ‘value reporting’, a number of accounting groups have launched programmes to explore how accounting standards should be updated to enhance such value drivers. New concepts of risk, opportunity, and uncertainty are likely to emerge.

Source: Global Reporting Initiative, Sustainability Reporting Guidelines, 2002, p. 3. Reproduced with permission of The Global Reporting Initiative (GRI).

(a) What progress do you think has been made in these areas?