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The 1992 EC Fifth Action Plan, ‘Towards Sustainability’, expresses the Commission's commitment to ‘sustainable growth’. Detailed in the plan are requirements and areas of improvement which relate, predominantly, to environmental management. However, financial and environmental management conflict in important and fundamental areas. A failure of management practice and European policy to identify and address this conflict will not only prolong the ecological inefficiencies of industry but will isolate intent and action. This study examines this conflict with respect to training, operational time‐horizons, opportunity costs, corporate governance and growth. The Annual Report is the authoritative statement of corporate performance, policy, objectives and culture. Although most reports do provide a broad if summary coverage of the main business activities, such reports are dominated by the needs of financial management. Extensive legislation and professional edicts dictate the contents of these financial reports. From the perspective of the Annual Report, it is a reasonable conclusion that financial performance is a part of whatever constitutes the core values of corporations. From this same perspective, it is also reasonable to infer that in many corporations environmental performance is not a part of corporate core values. This study compares and contrasts the Annual Reports of six environmentally significant companies in Denmark and the UK. The British environmental reports studied are thorough but separate from the Annual Report. On the other hand, the Danish firms incorporate all their environmental reporting within their Annual Reports. Which gives a better expression of a change in corporate core values?.

Combining historic and ethnographic approaches, this article analyzes the current production of colonial heritage in Puducherry, the former capital of French India. The aim is to explore the tensions and paradoxes that manifest themselves in postcolonial processes of marginalization and universalist claims surrounding the production of colonial heritage. Practices of heritage conservation and awareness have a colonial as well as postcolonial history of civilizing mission and claims to universal values, which create tensions in which some perspectives and positions are univerzalised, while others are marginalized. Importantly, this field extends beyond that of 2 heritage itself to encompass a larger set of universalizing claims on cultural, moral, aesthetic and political values. Puducherry, as a marginal colony of what in the context of India was a marginal colonial power, presents an interesting case of double historic marginalization and resulting postcolonial dynamics, as elements of this marginality recur in the present production of its heritage. A history of claims for universal values remains at play in the production of Indo-French colonial heritage surrounding Puducherry; although the dynamics of who is making claims on such values change in the postcolonial context. The ongoing processes of heritage conservation and attempts to produce 'heritage awareness' about the Indo-French heritage of Puducherry show how this heritage not only concerns issues such as political independence, social memory, tourism, economic and urban development, but also turns on conceptualizations of citizenship and heritage as civilizing mission, caught up in historically changing patterns of post/colonial relations and identities.

Industry′s claim to create wealth serves to legitimize the independence of its policies and actions. Yet such a creation process is delusory in an interdependent and indeterminate world grounded in quantum physics, ecology and chaos theory. Contemporary corporate annual reports are prepared from the perspective of discrete industrial entities driven by the dynamic of unlimited growth. Most pressures being applied to change these reports seek merely to complicate, by adding information, rather than to revise by removing organizational boundaries and restating core beliefs. Recent corporate environmental reports, for example, confuse and are of limited use to company analysts; they do little to aid the fundamental transition to sustainable industry. However, a conception of industry as a wealth appropriator within the ecosphere can help, and this understanding gives rise to a new direction for accounting, auditing and environmental reporting. Examples of first steps taken by Denmark in this new direction are given.