Corporate Transparency Sustainability Reporting 2020

Transcription

1 Corporate Transparency Sustainability Reporting 2020 Teresa Fogelberg, Deputy Chief Executive Yritysvastuun ajankohtaiset asiat, June 2, 2014

2 Making sense of sustainability

3 What is sustainability reporting? Disclosure on economic, environmental, social, and governance performance Stakeholder focused Performance bridging (financial and other) Continuous improvement Venue, Date

4 Who is reporting and why? Venue, Date

5 SR: from pioneers to mainstream

6 Global Reporting Initiative USA Secretariat China Colombia India Governance Bodies Brazil Southern Africa Australia Governmental Advisory Group Organizational Stakeholders Training partners Strategic alliances:

7 GRI s mission To make sustainability reporting standard practice by providing guidance and support to organizations

8 GRI Reporting Trend: * Data from the Sustainability Disclosure Database as at 2 April 2014

9 Global Top 20 GRI Reporting Countries Finland # * Data from the Sustainability Disclosure Database as at 26 May 2014

10 % of largest 100 companies per country reporting Finland # 14

11 Alignment other frameworks Global frameworks OECD Guidelines UN Global Compact principles UN Guiding Principles Business Human Rights IIRC Local frameworks on the horizon SASAC (China) SASB (USA)

12 GRI Reporters - Finland Ahlstrom Ekokem Gasum Marimekko Patria Suomen Vaasan Corporation Teollisuussijoitus Aktia Oyj Eläke-Fennia Gustav Paulig Martela PricewaterhouseC Talvivaara Vacon oopers (PwC) Finland Alko Elcoteq Hansel Metsä Group Proventia Tamro Group Vaisala Oyj Alma Media Elisa Oyj Hartwall Metsaliitto/ Rahaautomaattiyhdisty Tapiola Insurance Valio Group METSÄ GROUP Group s Altia Etera ISS Palvelut Metso Raisio Technopolis Vantaan Energia Arctia Shipping Oy Fazer Group Itella Myllykoski Ramirent Teollisuuden Vapo Voima Oyj (TVO) 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 Tuko Logistics YIT OYJ Corporation Componenta Finnair LähiTapiola Onninen Senate Properties Turku Energia YLE CSC Finnforest Lakeuden etappi OP-Pohjola Group Sponda Turku Polytechnic Corporation 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

13 Organizational Stakeholders GRI s core supporters Over 600 diverse organizations From over 65 countries

14 GRI Organizational Stakeholders - Finland Organization Finnish Business & Society (FiBS) Kesko Corporation Tieto Corporation Tofuture Oy Wärtsilä Corporation Other Retailers Sector Commercial Services Other Energy

15 What does GRI do?

16 GRI s Guidelines Guidelines G2 G3 G3.1 G

17 Why G4?

18 G4: Key Points Codifying best practice Focusing on what matters most Championing integrated thinking Making the link to sustainable development

19 Policy initiatives worldwide

20 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

21 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

22 Governments with formal references to GRI In 23 countries GRI is referred to, mentioned or recommended in government and/or market regulator instruments Argentina Australia Austria Brazil Canada Denmark Finland Germany Iceland India Italy Japan Netherlands Norway Pakistan Singapore South Africa South Korea Spain Sweden Thailand UK US

23 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

24 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 Sweden

25 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

26 European Directive Mandatory reporting in the EU on its way

27 European Directive on Non Financial Reporting 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

28 European Directive on Non Financial Reporting Scope employees public-interest entities in the 28 EU member countries employees public interest entities parent undertakings of a large group - This will apply to about EU companies (scope to possibly be enlarged in 4 years)

29 European Directive on Non Financial Reporting 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

30 Future Trends - 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

31 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

32 Measuring business contribution to the new global development goals UN Global Compact (UNGC) GRI World Business Council for Sustainable Development (WBCSD)

33 Kiitos - Thank you - Tack!