Global Compact Reaffirms Leadership Commitment to Corporate Transparency and Disclosure
Read more
New York, United States of America
(New York, 12 April 2013) – In keeping with its commitment to provide leadership on critical corporate sustainability issues, the UN Global Compact through its LEAD platform has prioritized activities surrounding transparency and disclosure for the coming year.
As part of this dedicated workstream, 15 Global Compact LEAD participants are engaged in a Pilot Programme of the International Integrated Reporting Committee (IIRC). The Programme provides companies with the opportunity to discuss and challenge technical material under development and test its application, as well as provide feedback on the Consultation Draft of the IIRC upon its release on 16 April 2013.
To complement companies’ individual participation in the Pilot Programme, the Global Compact is working collectively with LEAD participants to strengthen the IIRC Framework by identifying trends, commonalities, and points of consensus in an effort to align sustainability communications across the major global reporting initiatives. As a full partner of the IIRC Pilot Programme, the Global Compact also holds seats on the IIRC Council and Working Group.
LEAD’s strategic focus on “Shaping the Future of Reporting” continues ongoing efforts by the Global Compact to put forth cutting-edge thinking and best practice on corporate transparency and disclosure:
- At a November 2012 LEAD Symposium, heads of major global reporting initiatives and senior corporate executives addressed future alignment of the key reporting initiatives and integration of ESG communication into other mainstream channels of communication to investors.
- To improve company-investor communications on ESG information, as well as the ability of financial markets to properly value sustainability performance, the Principles for Responsible Investment (PRI) and the UN Global Compact launched an ESG Investor Briefing Series in 2012. Five briefings are planned for the first half of 2013, with each piloting a common ESG Value Driver Framework developed by Global Compact LEAD companies and PRI signatories.
- In a recent Joint Report with WBCSD to the High-Level Panel of the Post-2015 UN Development Agenda, the Global Compact explicitly calls for the promotion of widespread, comprehensive, and integrated corporate sustainability disclosure that incorporates financial, natural and social capital.
- The Global Compact continues to strengthen its long-standing relationship with the Global Reporting Initiative (GRI) ahead of the launch of the G4 Guidelines at its Global Conference in May 2013.
For more information about the activities of Global Compact LEAD, please click here.