The CEO of BEEKAY Company, a listed mining company, is in discussing with the Chairman whether or not the company should adopt a triple bottom line (TBL) reporting system in order to demonstrate BEEKAY Company's level of sustainable development. BEEKAY Company's competitors are increasingly adopting TBL reporting and the Chairman feels that it would be beneficial to follow suit. The CEO, on the other hand, feels that pursuing TBL reporting would be expensive and is not necessary.

Required

(a) Explain what TBL reporting involves and how it would help demonstrate BEEKAY Companys sustainable development. Support your explanation by including examples of proxies that can be used to indicate the impact of the factors that would be included in a TBL report.

(b) Discuss how producing a TBL report may help BEEKAY Company's management focus on improving the financial position of the company. Illustrate the discussion with examples where appropriate.

(c) DANDEE is a large region with a rugged, beautiful coastline where rare birds have recently settled on undisturbed cliffs. However, today, many communities in DANDEE suffer high unemployment. Government initiatives for regeneration through tourism have met with little success as the area has poor road networks, unsightly derelict buildings and dirty beaches and has discovered substantial tin reserves in DANDEE. With new technology, mining could be profitable, provide jobs and boost the economy. A number of interest and pressure groups have, however, been vocal in opposing the scheme including wildlife protection representatives, villagers worried about the potential increase in traffic congestion and noise, environmentalists, and anti-capitalism groups.

Required

Explain the conflicts between the main stakeholder groups in this scenario and discuss how the conflicts could be resolved.