How momentum grew this year towards making sustainable development a common framework for companies
Earlier this year, in its fifth annual monitoring and analysis of S&P 500 Index company reporting, the Governance and Accountability institute found that 81% of the companies included published a sustainability or corporate responsibility report in 2015.Sustainability reporting has been gathering speed and momentum: in 2011, the figure was less than 20%.
The Global Reporting Initiative (GRI), which provides the world’s most widely used standards on sustainability reporting and disclosure, says 92% of the G250 (the world’s largest 250 corporations) now report on their sustainability performance.
A number of established organisations, initiatives and frameworks exist to support and enable effective reporting, including CDP, the UN global compact (UNGC), the World Business Council for sustainable development and the Sustainability Accounting Standards Board (SASB). However, for the private sector to be able to align itself with the 2030 sustainable development agenda, an over-arching, common framework is needed.
At the start of 2016, the World Economic UNGC Forum saw the launch of the business and sustainable development commission (BSDC). Its proposition: “Businesses that join global efforts to end extreme poverty and protect the planet’s finite natural resources can reap great rewards and protect their long-term performance.”
The BSDC’s mission is to make the case for why...