Commitment to transparency: 60 companies come together to
Dec 30, 2023 5:58:13 GMT
Post by account_disabled on Dec 30, 2023 5:58:13 GMT
The context in which companies now operate has been transformed by climate change, the destruction of nature, social unrest regarding inclusion and conditions at work and Covid-19. The global pandemic has fundamentally aggravated equality and access to new economic opportunities . Businesses that want to continue to prosper must develop their resilience and improve the way they operate. How should they do it? Through long-term commitment to sustainability and the creation of value that people and the planet demand . The IBC has attempted to lead this path. In 2017, he led a commitment of more than 140 CEOs to align their corporate values and strategies with the UN Sustainable Development Goals (SDGs) to try to better serve society. At the 2019 meeting, IBC members reaffirmed the importance of environmental and social governance and Socially Responsible Investment (SRI), as well as aspects of business performance that create long-term value while taking risks. In this context, the World Economic Forum (WEF) has presented the conclusions of the project in which they define metrics for the creation of sustainable value, launched at its annual meeting in January 2020.
This project, developed within the IBC, seeks to improve the ways in which companies measure and demonstrate their contributions towards creating more prosperous, fulfilled societies and a more sustainable Phone Number List relationship with our planet. They also point out that companies must increase transparency to be more viable and valuable in the long term . This work outlines the essence of stakeholder capitalism : the ability of the private sector to harness the innovation, creativity and power of people and teams to generate value for shareholders, for all members of society and for the planet in general. . From January to July, an intensive consultation period took place with more than 200 companies, investors and other key players. This provided valuable feedback that allowed for the development of a set of universal metrics aligned with the SDGs: 21 core metrics that primarily focus on activities within the organization's own boundaries and 34 expanded metrics that have a broader value chain scope. , conveying impact in a more sophisticated way or in a tangible way, such as in monetary terms. They represent a more advanced way of measuring and communicating sustainability and value creation.
More than 60 companies have already committed to following this set of measures and their announcement will take place in a panel on 'Implementing stakeholder capitalism' together with WEF founder Klaus Schwab, Salesforce CEO Marc Benioff , and Bank of America CEO Brian T. Moynihan, among others. In total, 61 companies from different sectors and locations around the world have signed the pledge, including Siemens, PayPal, Heineken, Deloitte, Sony, Unilever, Dell and Royal Dutch Shell. The companies, with these principles, commit to being transparent and publicly reporting on their greenhouse gas emissions, as well as the consumption of single-use plastics and water consumption . Likewise, with respect to their workers, participating companies will include data on equal pay, well-being rates, diversity and inclusion. Another element is the document's call as 'Prosperity', which focuses on taxes paid and economic contribution, derived from the fight against corruption. "The purpose of the coalition is to demonstrate that CEOs and board members are taking environmental and social factors seriously , and the agreement to report the figures shows that it is not just a symbolic gesture, but an effort at transparency "It's a demonstration that these CEOs support non-financial reporting being as rigorous as financial reporting," Maha Eltobgy, senior director of the WEF, told Fast Company .
This project, developed within the IBC, seeks to improve the ways in which companies measure and demonstrate their contributions towards creating more prosperous, fulfilled societies and a more sustainable Phone Number List relationship with our planet. They also point out that companies must increase transparency to be more viable and valuable in the long term . This work outlines the essence of stakeholder capitalism : the ability of the private sector to harness the innovation, creativity and power of people and teams to generate value for shareholders, for all members of society and for the planet in general. . From January to July, an intensive consultation period took place with more than 200 companies, investors and other key players. This provided valuable feedback that allowed for the development of a set of universal metrics aligned with the SDGs: 21 core metrics that primarily focus on activities within the organization's own boundaries and 34 expanded metrics that have a broader value chain scope. , conveying impact in a more sophisticated way or in a tangible way, such as in monetary terms. They represent a more advanced way of measuring and communicating sustainability and value creation.
More than 60 companies have already committed to following this set of measures and their announcement will take place in a panel on 'Implementing stakeholder capitalism' together with WEF founder Klaus Schwab, Salesforce CEO Marc Benioff , and Bank of America CEO Brian T. Moynihan, among others. In total, 61 companies from different sectors and locations around the world have signed the pledge, including Siemens, PayPal, Heineken, Deloitte, Sony, Unilever, Dell and Royal Dutch Shell. The companies, with these principles, commit to being transparent and publicly reporting on their greenhouse gas emissions, as well as the consumption of single-use plastics and water consumption . Likewise, with respect to their workers, participating companies will include data on equal pay, well-being rates, diversity and inclusion. Another element is the document's call as 'Prosperity', which focuses on taxes paid and economic contribution, derived from the fight against corruption. "The purpose of the coalition is to demonstrate that CEOs and board members are taking environmental and social factors seriously , and the agreement to report the figures shows that it is not just a symbolic gesture, but an effort at transparency "It's a demonstration that these CEOs support non-financial reporting being as rigorous as financial reporting," Maha Eltobgy, senior director of the WEF, told Fast Company .