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Starbucks Corporation—Value Beyond Profit
Fri, February 17, 2:30 to 3:30pm, TBAAbstract
Starbucks released its first Corporate Social Responsibility Report 20 years ago to demonstrate transparency and accountability to its stakeholders, including customers, suppliers, community partners, and investors. Many years have passed, and today the report serves as a major platform for Starbucks to communicate its performance in managing sustainability-related risks and opportunities. The Company’s 2021 Global Environmental and Social Impact Report addresses People, Planet and Governance. It also includes a Sustainability Accounting Standards Board (SASB) Reporting section with data and supporting documents.
This case is designed to introduce students to the emerging field of sustainability reporting, based on the conceptual framework and implementation guidelines developed by the SASB. Since July 2022, the SASB standards are part of the IFRS Foundation and they represent a key resource in developing evidence-based, decision-useful, globally applicable IFRS sustainability disclosure standards.
Using Starbuck’s 2021 Global Environmental and Social Impact Report students are introduced to the structure of the SASB standards including the five Sustainability Dimensions, the General Issue Categories, and Accounting Metrics. The case presents an opportunity for students to appreciate the role of sustainability information in value creation, to develop an awareness of this additional dimension of corporate performance, and to connect the management of sustainability-related risks and opportunities to financial performance.
As a well-known, international brand with an inclusive culture, Starbucks is an ideal company to demonstrate sustainability reporting to diverse audiences in the classroom and beyond.
Eszter Palancz is an Assistant Professor, Teaching Stream in Accounting at the Rotman School of Management, University of Toronto. Her research interest includes Sustainability Accounting and she is an FSA Credential holder from the IFRS Foundation.