Corporate Transparency
–
Sustainability Reporting
2020
Teresa Fogelberg, Deputy Chief Executive
Venue, Date
•
Disclosure
on economic,
environmental, social, and
governance performance
•
Stakeholder
focused
•
Performance
bridging
(financial and other)
•
Continuous
improvement
Venue, Date
Global Reporting Initiative
USA
Australia
Brazil
China
India
Southern
Africa
Secretariat
•Governance Bodies
•
Governmental Advisory Group
•
Organizational Stakeholders
•
Training partners
•Strategic alliances:
To make
s
ustainability reporting
standard practice by providing
guidance
and
support
to
organizations
GRI Reporting Trend: 1999 -2014
* Data from the Sustainability Disclosure Database as at 2 April 2014 11 43 124 147 166 285 385 536 729 1157 1543 1990 2315 2580 2612 324 0 500 1000 1500 2000 2500 3000 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Global Top 20 GRI Reporting Countries
2013
0 50 100 150 200 250 300Finland # 14
% of largest 100 companies per country
reporting
Global frameworks
•
OECD Guidelines
•
UN Global Compact principles
•
UN Guiding Principles Business Human Rights
•
IIRC
Local frameworks on the horizon
•
SASAC (China)
•
SASB (USA)
GRI Reporters - Finland
Ahlstrom Corporation
Ekokem Gasum Marimekko Patria Suomen
Teollisuussijoitus
Vaasan
Aktia Oyj Eläke-Fennia Gustav Paulig Martela PricewaterhouseC oopers (PwC) Finland
Talvivaara Vacon
Alko Elcoteq Hansel Metsä Group Proventia Tamro Group Vaisala Oyj Alma Media
Group
Elisa Oyj Hartwall Metsaliitto/ METSÄ GROUP Raha-automaattiyhdisty s Tapiola Insurance Group Valio
Altia Etera ISS Palvelut Metso Raisio Technopolis Vantaan Energia Arctia Shipping Oy Fazer Group Itella Myllykoski Ramirent Teollisuuden
Voima Oyj (TVO)
Vapo
Atria Felix Abba Kemira Neste Oil Rautaruukki Tieto Corporation Veikkaus Botnia Fiblon Kesko Corporation Nokia Corporation S Group Tieto OYJ VR-Group Cargotec Finavia KONE Corporation Nokia Siemens
Networks
Saga Furs Oyj Tikkurila Wärtsilä Corporation Citycon Fingrid Oyj Konecranes Oilon Sanoma
Corporation
Tuko Logistics YIT OYJ
Componenta Finnair LähiTapiola Onninen Senate Properties Turku Energia YLE CSC Finnforest
Corporation
Lakeuden etappi OP-Pohjola Group Sponda Turku Polytechnic
Diacor Finnpilot Pilotage Lassila & Tikanoja Orion Group SportElite Turun
ammattikorkeakou lu
DNA Finnvera Lemminkäinen OutoKumpu Stockmann Turun University of Applied Science Edita Fortum Lindström Oy Outotec Stora Enso UPM-Kymmene
•
GRI’s core supporters
•
Over 600 diverse
organizations
•
From over 65 countries
GRI Organizational Stakeholders
-Finland
Organization
Sector
Finnish Business & Society
(FiBS)
Other
Kesko Corporation
Retailers
Tieto Corporation
Commercial
Services
Tofuture Oy
Other
Guidelines
G2
G3
G3.1
G4
GRI’s Guidelines
G4: Key Points
•
Codifying best practice
•
Focusing on what matters most
•
Championing integrated thinking
•
Making the link to sustainable
CARROTS AND STICKS
Sustainability reporting policies worldwide –
today’s best practice, tomorrow’s trends in 45 countries
2013 edition
Core Project Partners
: UNEP, GRI, KPMG and Centre for Corporate
Governance in Africa
Carrots & Sticks main findings on sustainability
reporting regulation (45 Countries)
• 180 regulations, 72 % mandatory
• Growing fast
• State owned enterprises
prominent
• Sustainability reporting as stock
exchanges listing requirement
• Report or Explain
In 23 countries GRI is referred to, mentioned or recommended in government and/or
market regulator instruments
Governments with formal references to GRI
Argentina
Netherlands
Australia
Norway
Austria
Pakistan
Brazil
Singapore
Canada
South Africa
Denmark
South Korea
Finland
Spain
Germany
Sweden
Iceland
Thailand
India
UK
Italy
US
Japan
Kinds of policies
-
State Owned Enterprises
- Mandatory reporting (in a certain sector e.g.
Extractives or on a certain topic e.g. GHG)
- Stock exchange listing requrements
- Guidelines recommending sustainability disclosure
- Others
State Owned Enterprises
The following countries have mandatory reporting
requirments for state owned companies:
•
China
•
Denmark (large companies only)
•
Finland
•
France (all large companies)
•
India
•
Netherlands
•
Norway
•
Russia
An example
State-Owned Enterprises as
Vehicles for Corporate Responsibility and
Sustainability
”The Government’s overall objective is for the
companies to generate value and, where applicable,
ensure that specially commissioned public service
assignments are carried out.”
Government Owner Policy
Ministry of Finance Sweden
European Directive
Objectives
- Strengthen transparency and accountability and
ensure a level playing field across the EU
- Increase the relevance, consistency and
comparability of information disclosed in the EU
- Enhance transparency regarding the diversity
policy applied by the undertakings
Scope
- 500+ employees public-interest entities in the 28 EU
member countries
- 500+ employees public interest entities parent
undertakings of a large group
- This will apply to about 6.000 EU companies (scope
to possibly be enlarged in 4 years)
Next steps:
- Council of the EU adopts the Directive as
voted on in the European Parliament (Oct
2014)
- 2 years after entry into force the Directive will
be transposed into national laws of Member
States
- The EU legislation
- GRI’s transition to a standard setting body
- Increasing market regulator involvement
(listing standards)
- The post 2015 development agenda and
the Business Engagement Architecture:
Measuring business contribution to the
new global development goals
Measuring business contribution to the new
global development goals
“This Architecture is designed
to drive and scale up
corporate actions to directly
advance UN goals
. It connects
the dots in the ever-growing
field of responsible business
initiatives, standards and
certifications (…) I am pleased
that the WBCSD and the GRI
have joined us”
***
UN Secretary General Ban Ki Moon,
September 20, 2013 at UN Global
Compact Leaders Summit in New York
Measuring business contribution to the new global
development goals
UN Global Compact (UNGC)
GRI
