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GRI & US Sector Leader - ESG/GRI training
- 1. Why and how to produce your first GRI sustainability report This training is provided by GRI Focal Point USA in collaboration with US Sector Leader Bloomberg Rina Levy, ESG Analyst – Bloomberg, USA rilevy1@bloomberg.net Marjella Alma - Manager External Relations – GRI USA alma@globalreporting.org Venue, Date +1 917 690 0909 Webinar GRI Focal Point USA & Bloomberg, 13 July 2012
- 2. Vision of the Global Reporting Initiative A sustainable global economy where organizations manage their economic, environmental, social and governance performance and impacts responsibly and report transparently. Question: what essential information did we forget to account for in the past?
- 3. Outline for today Presentation by Bloomberg GRI Training GRI Resources Q&A
- 4. JULY// 13// 2012 ESG 310,000+ // Environmental, Social, Governance
- 5. Most Bloomberg ESG customers are financial professionals in major financial centers CUSTOMER SEGMENTS BY CUSTOMER SEGMENTS BY FIRM TYPE SALES REGION Pension Funds // Environmental, Social, Governance Insurance 3% Companies 3% AL Government FF 3% Agencies TO 4% 4% 4% DU 5% London Hedge Money 30% Managers SF Funds 29% 5% 7% Brazil Corporation 6% s 8% Singapore 6% Banks 9% Brokers 21% Hong Kong Universities 9% New York 12% 28% 33
- 6. …capturing standardized cross-sector and industry-specific metrics. Relative number of hits per indicator Number of Board Meetings for the Percent, June-Sep 2011 Year » 170+ fields GRI Criteria Compliance downloadable // Environmental, Social, Governance % Women on Board » ESG Disclosure Number of Employees - CSR Score most used field Number of Independent Directors » Environmental fields UN Global Compact Signatory get 43% of the hits CEO Duality » 52 sector specific fields and more to Size of the Board come % Independent Directors ESG Disclosure Score 0.0 2.0 4.0 6.0 8.0 FA ESG <GO>
- 7. STANDARDIZE DATA? 50% OF GRI COMPLIANT COMPANIES HAVE A // Environmental, Social, Governance BLOOMBERG ESG DISCLOSURE SCORE OF 40 AND ABOVE VS 3% OF THOSE NOT REPORTING ACCORDING TO GRI HAVE A SCORE OF 40 AND ABOVE
- 8. STORY? DOES RAW DATA TELL THE WHOLE // Environmental, Social, Governance
- 9. RAW DATA ENOUGH? // Environmental, Social, Governance
- 10. TRANSPARENCY EXPANDING ON THE RAW DATA // Environmental, Social, Governance
- 11. NEWS SCREENING ON ESG AND YOUR CORPORATION // Environmental, Social, Governance
- 12. PEER COMPARISON // Environmental, Social, Governance
- 13. …over time, GRI reporters outperform the benchmark // Environmental, Social, Governance HFA<GO>
- 14. ESG VALUATION // Environmental, Social, Governance
- 15. Rina Levy, MBA Bloomberg LP-ESG Analyst +609 279 7046 rilevy1@bloomberg.net // Environmental, Social, Governance
- 16. GRI training • Implications of G4 Exposure Draft • G3/G3.1 applicability – valid for 2 years after G4 will be launched – May 2013
- 17. G4 objectives • To be user-friendly for beginners and experienced reporters • To improve the technical quality, clearer definitions • To align with other reporting frameworks • To offer guidance which leads to material reports (“materiality”) • To offer guidance on how to link the sustainability reporting and Integrated Report - aligned with IIRC • To provide support to improve data search (XBRL)
- 18. Focus for profound revisions • Disclosure of management approach • Governance and ethics • Boundary • Application levels • Supply chain • Topics: GHG, anti-corruption, among many others And… more on material topics per sector!
- 19. G4 timeline 2011 2012 2013 MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN Launch May 2013!!! Text Revision / Editing Task Force Working Working Governance Public Comment Working Groups Public Comment Bodies give Preparatory Stage Groups Groups Final Edit LAUNCH Period 1 Meet Period 2 Final Vote Formed Meet MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN 2011 2012 2013
- 20. G4 workshops • Washington DC – 17 July • Dallas – 2 August • San Francisco – 29 August
- 21. Recent research shows that.. sustainability reporting is de facto The largest and most law for business comprehensive survey of CR reporting trends published sustainability reporting enhances financial value Vast coverage of 3,400+ companies combined reporting leads to IR Most comprehensive data integrity is essential study since the first report in 1993 leaders choose external assurance KPMG International Corporate Responsibility Reporting Survey 2011
- 22. Business case for reporting Competitive Opportunities advantage Innovation Attract Improved investment reputation Improved business and trust models Stakeholder Internal Attract talent External dialogue Waste, CO2 and water reduction Governmental and stock exchange regulation Risks
- 23. Supporters of the business case • Principles for Responsible Investment (PRI) [2006] – Currently represents over $22 Trillion in investment capital – Close to 1000 signatories • Investor Network on Climate Risk (INCR) [2003] – Currently represents over $9 Trillion in investment capital – 90+ members • Carbon Disclosure Project (CDP) [2002] – Currently represents over $71 Trillion in investment capital – act on behalf of 551 institutional investors • Institutional Investors Group on Climate Change (IIGCC) [2001] – Currently represents $6 Trillion in investment capital – 70 members • Interfaith Center on Corporate Responsibility (ICCR) [1972] – Currently represents over $100 Billion – 300 members
- 25. How does GRI help? GRI Mission To make sustainability reporting standard practice by providing guidance and support to organizations.
- 26. The GRI Guidelines GRI Principles: These guide the content and quality of your reporting. Materiality, boundary-setting, inclusiveness, stakeholder engagement etc. GRI reporting elements: 1. Profile Disclosures Strategy, About, Governance. 2. Disclosures on Management Approach EC, EN, LA, HR, SO, PR 3. Performance Indicators EC, EN, LA, HR, SO, PR
- 27. Display data with a GRI content index As it: • gives you flexibility to reach different stakeholders in different ways. • gives you flexibility to reference already existing content. • enhances ease of access for your stakeholders. • communicates your Application Level.
- 28. A GRI report.. makes use of the G3 or G3.1 Guidelines includes a GRI Content Index and preferably declares an Application Level
- 30. Rationale - Application Levels Objective classification system for G3/G3.1 reports • Signifies to what extent the G3/G3.1 Guidelines have been used in a report. • Meaning: Tells which set & how many disclosures have been addressed in the reporting. A pathway for GRI reporters for incrementally improving GRI reporting
- 31. GRI Application Level Check
- 32. “+” reports More than 70 percent of the G250 and 64 percent of N100 engage major accountancy firms. Reinforce credibility among stakeholders Improve quality of reported information Improve reporting processes Primarily responding to legal requirements Drive performance 0% 5% 10% 15% 20% 25% 30% 35% Source: KPMG International Survey of Corporate Responsibility Reporting 2011
- 33. Trends
- 34. Who’s using GRI?
- 35. American GRI reporters GRI Sector Leaders:
- 36. 95% of Global 250 companies issue sustainability reports – 80% use GRI 3
- 37. USA – 9th place from 74% up to 83% in 3 years 2008 versus 2011 of N100 companies 3
- 38. Reporting trends Absolute reporting figures in the USA US GRI data partner Sustainability Reports in the USA GRI G3 + G3.1 GRI reference Non-GRI sustainability report 46% growth in absolute number of 47 GRI reports (w/ index) 23 2010 - 2011 And counting!! 273 187 141 119 71 2007 2008 2009 2010 2011
- 39. 300 GRI reports by sector in 2010 250 200 150 100 50 0 *Sustainability Disclosure Database data from 1 February 2012
- 40. Data integrity 100% 90% 80% 21 112 415 41 70% 170 60% 167 50% Not assured 40% Externally assured 30% 23 125 446 35 20% 87 10% 40 0% Africa Asia Europe Latin America Northern Oceania America * Data from the Sustainability Disclosure Database as of 12 April 2012
- 41. “Integrated reporting” – international trends 2010 2011 13% 21% Not integrated Integrated 87% 79% *Sustainability Disclosure Database data from 1 February 2012
- 42. GRI Resources
- 43. The GRI Guidelines Free downloads: • G3.1 Guidelines • Sector Supplements (financial services, electric utilities, airports, mining and metals, oil and gas, events, media etc) https://www.globalreporting.org/reporting/late st-guidelines/g3-1-guidelines/Pages/default.aspx
- 44. The GRI Content Index and Checklists Free downloads: • GRI Content Index templates • GRI Checklists GRI recommends organizations to publish the GRI Index template, but any format is acceptable. https://www.globalreporting.org/reporting/reporting-support/reporting- resources/content-index-and-checklist/Pages/default.aspx
- 45. GRI info sharing The Get Started Video https://www.globalreporting.org/reporting/get-started/Pages/default.aspx Learning Publications https://www.globalreporting.org/reporting/reporting- support/publications/Pages/default.aspx GRI Webinars OS – international OS - USA
- 46. GRI Certified Training Courses USA Training Partners Current BrownFlynn and Isos Group https://www.globalreporting.org/reporting/reporting-support/gri-training-and- workshops/certified-training-partners/Pages/United-States.aspx
- 48. The GRI benchmarking tool reportedon and to what extent. Sector: Financial Services
- 49. More involvement with GRI? In addition to getting started with GRI reporting, you can: • Join the Organizational Stakeholder Program • Become a US Sector Leader • Participate in Working Groups • Participate in Governance Structures
- 50. Thank you! More information: www.globalreporting.org http://database.globalreporting.org Venue, Date