A global policy framework on sustainability reporting:Report or Explain Victoria Whitaker GRI Australia
How do we manage a transition to a greenand sustainable economy? • By making information on • environmental • social • economic pillars widely available • This happens through sustainability reporting
• Around 5000 reporting companies worldwide• 95% of Global Fortune 250 companies release sustainability information data up from around 80 percent in 2008 and 50 percent in 2005.• 82.000 Transnational Companies and 45.000 Listed Companies - the majority does not yet report• Report or Explain approach to sustainability reporting policy is needed
Report All large companies – listed, private, and public – should disclose their sustainability performance, or explain why they don’t.
GRI’s partners - ICorporate Sustainability Reporting Coalition Led by Aviva Investors, the coalition - convened for the Rio+20 Conference – calls on United Nations member states to commit to develop a global policy framework that requires listed and large private companies to integrate sustainability information throughout their annual report and accounts – or explain why if they do not do so.Aviva plc Delta Lloyd Asset Management Rabobank PensionfundAviva Investors EIRIS Sparinvest GroupAssociation of Chartered Certified Accountants Environment Agency Active Pension Fund Stakeholder ForumBT Pension Scheme Management Limited Ethos Foundation The Co-operative Asset ManagementCA Cheuvreux FRR Fonds de réserve pour les Retraites TraidcraftCarbon Disclosure Project FTSE Trillium Asset Management, LLCCalvert Investment Generation Investment Management Triodos Investment Management B.V.Ceres Global Reporting Initiative UN Global CompactChurch of Sweden Hermes University of St Andrews Endowment FundClimate Change Capital Illac Ltd Via GutenbergColonial First State Global Asset Management MN-Services VigeoCorporateRegister.com Limited Numaï Partners VIP eVCyrte Investments PaxWorld Management LLC WWF-UK
GRI’s partners - IIGreen Economy Coalition (GEC) A multi-stakeholder coalition whose vision is ‘A resilient economy that provides a better quality of life for all within the ecological limits of the planet’. The coalition’s mission is to accelerate the transition to a new green economy. www.greeneconomycoalition.org
The future we want – Zero Draft, Para. 24• Zero draft version (version 10 Jan 2012): We call for a global policy framework requiring all listed and large private companies to consider sustainability issues and to integrate sustainability information within the reporting cycle.• Proposed text: We call for [commit to develop] a global policy framework requiring all listed and large private companies to consider sustainability issues and to integrate sustainability information within the reporting cycle [or explain why if they do not].
What a report or explain principle?• It can be introduced in several ways: • smart ‘soft’ regulation • mandatory measures • or stock exchanges listing requirements.• Companies retain the choice of reporting frameworks and indicators, and even whether to report. Therefore, it can be voluntary!
UN Secretary General Ban Ki-MoonFebruary 16, 2012, New York: “Let us work together to forge a global policy framework for companies publicly disclosing information on sustainability performance – and explaining why if companies do not.”
Thank you Victoria Whitaker GRI Australia email@example.comUNAA Melbourne, 16 May 2012