CARROTS AND STICKS – PROMOTING ... - Global Reporting Initiative

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18 Carrots and Sticks - Promoting Transparency and Sustainability 4. Inventory of selected legislation, standards, codes and guidelines 4.1 Global 14 The tables are based on desk research and do not represent a comprehensive list. Not all of them refer to integrated, comprehensive sustainability reporting. In the case of mandatory standards, many are linked to a single issue with limited disclosure requirements. Country/Region Standards, Codes and Guidelines The � Global Reporting Initiative (GRI) provides the most recognised global standard with its framework for sustainability reporting. The GRI framework sets out the principles and indicators that organisations can use to measure and report their economic, environmental, and social performance. The cornerstone of the framework is the Sustainability Reporting Guidelines. The third version of the Guidelines – known as the G3 Guidelines – was published in 2006, and is a free public good. Other components of the framework include Sector Supplements and National Annexes. Sector specific supplements provide, amongst other things, sustainability indicators specific to the needs of sectors such as tourism, finance, telecommunications, mining, logistics, apparel and the public service. As of now, three sector supplements have been finalised, the Financial Services Sector Supplement (FSSS), the Electric Utilities Sector Supplement (EUSS), and the Mining and Metals Sector Supplement (MMSS), but a number of others are available as Pilot versions. National Annexes include unique country specific or regional sustainability issues. As of now, GRI has launched a pilot project to develop a National Annex for Brazil. The GRI plays a crucial role in sustainable development as provider of the world’s most widely used sustainability reporting framework. As a network organisation, GRI provides a forum where those who take an interest in environmental, social and governance issues (ESG) and those organisations or individuals working in the Sustainability Reporting field can come together to advance the sustainability agenda. The foundations of the Reporting Framework – the GRI Guidelines – are 14 Although we have made a distinction between mandatory and voluntary standards and codes, it is not always possible to define all of them as strictly mandatory or voluntary. Some find themselves in the “grey zone” in between.
Standards, Codes and Guidelines continuously developed by the network through a multi-stakeholder consensus seeking process to which anyone can contribute. www.globalreporting.org The � UN Global Compact is the world’s largest voluntary corporate citizenship initiative and provides a framework for organisations that are committed to align their operations and strategies with 10 principles in the areas of human rights, labour, the environment and anti-corruption. By 2010 its ten-year anniversary, the UN Global Compact had more than 7 000 participants. These included more than 5 000 business participants, of which approximately 50% were companies with more than 250 employees. Once a commitment is made by the CEO of a company joining the initiative, the company has to integrate the principles into its business operations, contribute to broad development goals (including the Millennium Development Goals), advance the ideals of the UN Global Compact and communicate annually on progress. Business participants are required to submit an annual Communication on Progress (COP) on the Compact website and to share the COP widely with their stakeholders. The COP must contain the following elements: a statement by the CEO expressing continued support for the UN Global Compact, a description of practical actions the company has taken to implement the principles, and a measurement of outcomes. Practical guidance is available on how to create a COP, as well as on how to use the GRI Reporting Framework in this process. www.unglobalcompact.org UN Principles for Responsible Investment � (UNPRI) is an investor initiative in partnership with the UNEP Finance Initiative and the UN Global Compact. Launched by former UN Secretary-General Kofi Annan, the PRI is a set of voluntary best practice principles to assist investors in integrating environmental, social and corporate governance (ESG) issues into investment processes and ownership practices. The PRI now has over 640 signatories, representing over US$20 trillion in assets. Principle six of the PRI asks each signatory to ‘report on their activities and progress towards implementing the Principles’. The PRI’s annual Reporting & Assessment survey is an annual online questionnaire for PRI asset owner and investment manager signatories. The PRI is a voluntary and aspirational framework; however, participation in this survey is the one mandatory requirement for all signatories. Those signatories that do not fulfill this requirement will be publicly delisted from the initiative. PRI signatory responses are aggregated to create the annual PRI Report on Progress. Individual responses Carrots and Sticks - Promoting Transparency and Sustainability 19
Page 1 and 2: CARROTS AND STICKS - PROMOTING TRAN
Page 3 and 4: Contents Forewords 2 1 Executive Su
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Page 17 and 18: Emerging trends at the global level
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Country/Region Standards, Codes and
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5. Country profiles Carrots and Sti
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In June 1997 Herbert De Souza, Beti
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well as a list of companies that vi
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market-based instruments. A small p
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Figure 1: Issues addressed in susta
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Stock Exchange (Brazil) and the Joh
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Annex 1 1. Carrots and Sticks - Pro
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Power’ Options: How Governments C
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An external Advisory Committee cons
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Production Printing process: Printe
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CARROTS AND STICKS – PROMOTING ... - Global Reporting Initiative

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