Executive summary
Melbourne water supply drinking water and recycle water and mages the Melbourne’s water supply chain sewage treatment, and major drainage system.WTP of Melbourne water is the largest waste water treatment plant in Victoria. The present report has discussed the component of social responsibility of Melbourne water and evaluates its impact on the social and environmental sectors. The last section of report has discussed the literature review of CSR policy in context of Social and environmental factors. Finally recommendation has been made on the government intervention on same and issue to have a better and prosperous future.
Introduction
Melbourne water has vision of enhancing “life and livability ‘of the community in Melbourne.
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CSR is a concept of practice. The CSR information and documentation has also criticism in present year (AASB 2015).
The studies has documented that a rise in the demand for the information related to CSR activities of the company. The studies have shown numerous methods for the discloser of CSR activities of the company (ACCC 2015). But if we analyze the situation in practical scenario we can conclude that the CSR reporting has faced both legal and ethical uncertainty (JT Mentzer 2012). The main challenge is faced when company has revealed unfavorable details or criticism response. Therefore the main dilemma the company’s are facing is the manner in which information of the company should be revealed taking in account ethical, legal and effectiveness criteria. It has communicated to the public through namely through various reports as labor report, CSR statement, personal letters, website, visit to various campuses and newspaper release. Overall the MELBOURNE WATER practices shows its intention on issue of disclosing CSR information and the policies adopted by the MELBOURNE WATER is being deafened by many author. Various article has presented two major issue faced by the corporation while communicating to public on legal restriction compliment and the reply made to critics (SA Samaha 2014). But
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government etc. It is also known as societal cost as the cost incurred by the environmental degradation ,adverse impact on property and welfare of the individuals,
These costs are the most important cost and occur when all the remediation approaches doe by the company fall outside the management control. The cost falls up within the preview of regulatory agencies to take or ask for specific corrective measures to be taken. The external environmental cost has the most devasting consequences than the other three costs. The company should prefer environmental cost reporting to account for the environmental cost.
Inland steel an US conglomerate has been penalized with the civil penalties of $54.5 million with clean up cost in East Chicago still meal.
Recommendation
The CSR practice for Australian listed companies shown lack on interrogated practice and reporting. The companies need innovative thinking and strong leadership in this context. The deep rooted social, economical and environmental problems can only be addressed when astron CSR policy is on the board. Therefore it’s being recommended that the government need initiatives to make the make CSR policies mandatory for the