NFRCSR (Non-Financial Reporting and CSR) Resource Centre >
International section >
Latest News Notes and related content Detailed map of International section Sitemap
· GRI Global Reporting Initiative >
o Current Priorities >
§ Future Trends > also
· Links > also
§ Resources pointing out government and market leadership in the encouragement of sustainability reporting.
· See also
o related news: Future Trends in Sustainability Reporting: GRI’s new research program (15 June 2010)
§ Several topics will be covered under this program including: also
· Regulations
o Learning & Support >
§ GRI Publications >
· Research & Development Publications >
o Other free publications:
§ Carrots and Sticks – Promoting Transparency and Sustainability (.pdf, May 2010, 96 pp.) - An update on trends in Voluntary and Mandatory Approaches to Sustainability Reporting
· Our research of existing approaches in the selected 30 countries (Australia, Austria, Belgium, Brazil, Canada, Chile, China, Denmark, Ecuador, Finland, France, Germany, Greece, Hungary, India, Indonesia, Italy, Japan, Luxembourg, Mexico, The Netherlands, Norway, Portugal, South Africa, South Korea, Spain, Sweden, Switzerland, United Kingdom, United States) revealed the following:
o A total of 142 country standards and/or laws with some form of sustainability-related reporting requirement or guidance (standards, codes and guidelines)
o Approximately two thirds (65%) of these standards can be classified as mandatory and one third (35%) as voluntary
o A total of 16 standards with some form of reporting requirement at the global and regional level
o A total of 14 assurance standards
· Prepared in co-production of: The United Nations Environmental Program (UNEP), KPMG Sustainability (The Netherlands), the University of Stellenbosch Business School (USB) (South Africa) and The Global Reporting Initiative (GRI)
· See also
o related press release: Governments to play a stronger role in sustainability reporting to ensure a minimum level of disclosure and risk prevention (27 May 2010)
o article at SocialFunds (11 June 2010)
o related pages at UNEP, KPMG Sustainability – The Netherlands
· UNCTAD United Nations Conference on Trade and Development >>
o ISAR (Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting) > e.g.
§ >
· Just Published: e.g.
o 2009 Review of the implementation status of corporate governance disclosures: an inventory of disclosure requirements in 24 emerging markets (.pdf, 8 October 2009, 21 pp.)
§ Areas of Work >
· Corporate Responsibility Reporting > e.g.
o 2008 review of corporate responsibility reporting (.pdf, October 2008, 32 pp.) = 2008 Review of the reporting status of corporate responsibility indicators >
§ 1. C. Voluntary and mandatory CR reporting (pp. 8-11)
· For countries: Nigeria, Philippines, Indonesia, Malaysia, China, Sweden, Canada, United Kingdom
§ Publications >
· Environmental, Social and Governance Disclosure
· FEE (Federation des Experts Comptables Europeens; The European Federation of Accountants) >
o Our Work >
§ Sustainability = Sustainability Working Party (SWP) and Sustainability Policy Group (SPG) >
· Discussion Paper: Sustainability Information in Annual Reports - Building on Implementation of the Modernisation Directive (December 2008; .pdf has 62 pp.) > also
o 4.3 Other related laws and guidance on reporting on environment and social issues (pp. 15-17):
§ Austria, Belgium, Finland, France, Germany, Italy, The Netherlands, Portugal, Romania, Spain, Sweden, UK
o Appendix I - Summary of Responses >
§ Question 3 – Other related laws on reporting on environmental and social issues (pp. 51-53):
· Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Portugal, Romania, Spain, Sweden, UK
o What we do > Advisory > Risk & Compliance > Internal Audit, Risk & Compliance Services >
§ Climate Change and Sustainability Services (CC&S) >
· Latest articles & publications >>
o KPMG International survey of corporate responsibility reporting 2008 (27 October 2008; .pdf has 118 pp.)
§ Or here (.pdf, at KPMG Sustainability - The Netherlands)
o >??>
§ KPMG International Survey of Corporate Responsibility Reporting 2005 (.pdf, June 2005, 55 pp.; at WBCSD)
· Or here (.pdf, at KPMG Netherlands)
· »KPMG believes it is the most comprehensive survey of its kind since its initiation in 1993. With its vast coverage of 1600+ companies, including the top 250 companies of the Fortune 500, the survey provides a truly global picture of reporting trends over the last ten years.«
· See Appendices:
o Mandatory reporting »a summary of mandatory requirements in the countries surveyed as identified by the survey team«;
o Standards, codes & guidelines »on corporate management and reporting«
§ KPMG International Survey of Corporate Sustainability Reporting 2002 (.pdf, 2002, 36 pp.; At GPPi Global Public Policy Institute)
· reportingrse.org (Project sponsor: ORSE - Observatoire de la Responsabilité Sociétale des Entreprises, France; Website launched in April 2010)
o Also English version of website (= reportingcsr.org)
o >
§ Reporting des entreprises = Corporate reporting >
· Européen = European
· National = National Guidance >
o France, Austria, Belgium, Denmark, Norway, The Netherlands, The United Kingdom, Sweden
· Social Investment Forum (USA) > e.g.
o News & Media >
§ Press Releases > e.g.
· More than 50 Investor Groups, Social Investment Forum Urge SEC to Require Environmental, Social & Governance (ESG) Disclosure (21 July 2009) >
o full text of the SIF letter (.pdf, 24 pp.) >
§ II. ESG Disclosure Requirements Worldwide (pages 16-20)
· Regulatory bodies:
o a diverse range of countries have been implementing requirements for companies to disclose material sustainability information to investors:
§ Europe: France, UK, Sweden, Germany, Norway, Denmark, European Commission
§ Austral-Asia: Malaysia, China, Indonesia, Japan, Australia
§ The United States
· Stock exchanges
o Stock exchanges, often working in tandem with government agencies, also have revised their listing requirements to require disclosure of social and environmental data from listed companies or created socially responsible investment (SRI) indices.
§ London Stock Exchange, Johannesburg Stock Exchange (JSE), Sao Paulo Stock Exchange (BOVESPA), Shanghai Stock Exchange, Shenzhen Stock Exchange, Tel Aviv Stock Exchange
· Social Investment Forum & Domini Investments Commend Global Innovations In Corporate Responsibility Reporting As Models For US (15 December 2008; Prepared for Domini Social Investments by Steve Lydenberg and Katie Grace)
o Innovations in Social and Environmental Disclosure Outside the United States (.pdf, 68 pp.), released by Domini Social Investments and the Social Investment Forum, presents case studies of five countries where governments and stock exchanges have taken the lead in social and environmental disclosure: Brazil, France, Malaysia, South Africa, and Sweden.
o The five case studies in Innovations in Social and Environmental Disclosure Outside the United States provide models for regulatory action that could be taken in the United States to promote transparency in financial markets. The report also details actions that have been taken in Australia, China, Denmark, Israel, the U.K., the city of Buenos Aires (Argentina) and elsewhere (Germany, Indonesia, Japan, The Netherlands, Norway, Saudi Arabia, United States (USA)).
· Harvard University >>
o John F. Kennedy School of Government >>
§ The Hauser Center for Nonprofit Organizations >> e.g.
· Initiative for Responsible Investment (IRI) - (formerly the Institute for Responsible Investment at the Boston College Center for Corporate Citizenship) >>
o From Transparency to Performance: Industry-Based Sustainability Reporting on Key Issues (.pdf, June 2010, 101 pp.; Industry-specific KPIs)
§ Co-authored by: Steve Lydenberg, a senior research fellow of the Hauser Center and chief investment officer of Domini Social Investments LLC, Jean Rogers, a principal at Arup, and David Wood, director of the IRI.
§ … Our goal is to encourage the uptake of sustainability reporting in the United States.
§ ... We would also like to acknowledge the review of report drafts and invaluable feedback from Mike Wallace (GRI), Allen White (Corporation 20/20), Adam Kanzer (Domini Social Investments), Mike Krzus (GrantThornton), and Jane Nelson (Kennedy School of Government).
§ Subsectors: Airlines, Automobiles, Banks, Conventional Electricity, Paper, Diversified REITs
§ See also
· related news: Report Calls for Mandatory Reporting of CSR Key Performance Indicators (7 July 2010)
o Reports >
· Awards (CRRA) >>
· 2008 CR Debates Podcasts (27 March 2009) >
o 4. Regulate or fail! - CR reporting must be mandatory to effect real change (Length: 21min 01sec)
§ Speaker for: Hannah Ellis (CORE Coalition), Speaker against: William D'Alessandro (Victor House News)
o CorporateRegister & ACCA:
· Towards transparency: progress on global sustainability reporting 2004 (.pdf, 9 September 2004, 64 pp.; At ACCA)
· ESRA The European Sustainability Reporting Association
o In 2006, for the first time, the European participants are focusing on sharing European reporting developments and best practice from both country-specific and regional perspectives. This is (perhaps temporarily, ??) replacing the European Awards scheme and the ESRA acronym now stands for "European Sustainability Reporting Association", whose purpose is "to inspire and improve sustainability reporting in Europe by sharing developments of European countries".
o > e.g.
§ individual country-reports:
· Austria, Belgium, Denmark, Finland, France, Germany, Hungary, Ireland, Italy, Netherlands, Poland, Portugal, Russia, Spain, Sweden, Switzerland, United Kingdom
o These reports are centred around eight main headings, also:
§ Overview of any national government activity
§ Perspectives
· These reports have been submitted by the following groups, Summarising the overall sustainability reporting developments and trends in Europe.
o EC Report
o Eurosif Report
o GRI Report
o FEE Report
§ Move towards mandatory reporting?
· Many countries around Europe are experiencing (or have already experienced) a move towards non financial mandatory disclosures, including France, the UK, Sweden and Denmark. ESRA welcomes this trend and hopes that more countries will follow in the future.
· ESRA will be following carefully any future trends that may occur in reporting as a result of the economic crisis. Some countries may already be witnessing a fall in reporting numbers, but it is hoped that the majority will maintain their commitment to sustainability and transparency.
· For an overall picture of the European reporting situation, visitors to this site can view the General Reporting Trends table to the left of this page. More detailed information can be found in the individual country-reports and country statistics sheets prepared by CorporateRegister.com.
o >??> Browse by Category >
· Special Reports: Non-financial reporting – Danish reporting rules (10 March 2009; By Ben Cooper) - Companies and investment analysts are divided on the benefits of integrating non-financial information into annual reports
o The world’s social reporting laws: Sweden, France, UK, Germany, US, Japan, China, Malaysia, Norway
o See also
§ related blog by Elaine Cohen: irregulate and unintegrate - i think i am a minority (10 March 2009) >
· Regulate or irregulate
· ICAEW (UK) »The Institute of Chartered Accountants in England and Wales« > e.g.
o Technical & Business Topics >
§ Topics >
o Measuring and reporting >
§ Sustainable measurement frameworks >
· Financial and corporate responsibility reporting standards = Mandatory reporting standards and corporate responsibility
· CDSB Climate Disclosure Standards Board >> e.g.
o Copenhagen Update – COP 15 (.pdf, December 2009, 16 pp.): Promoting and advancing climate change-related disclosure >
§ Annex 2: Preliminary findings from an initial review of corporate/securities legislation in key territories and its application to climate change-related disclosures (Australia, Canada, European Union (at EU level), Japan, United States of America)
· PwC PricewaterhouseCoopers > e.g.
o Our services >
§ Audit and assurance >
· Sustainability reporting > also
o Of further interest >
o The proliferation of evolving practices, guidance and regulations relating to the presentation and disclosure of corporate reporting continues to escalate. In this section we examine developments worldwide in the area of corporate reporting and the common themes that are now emerging.
· Toolkit >
o Practical guides >
§ Guide to key performance indicators (June 2006)
o International PwC Sites >
§ PwC UK >>
· Guide to key performance indicators: Communicating the measures that matter (June 2006)
o Narrative business reporting - whether in the form of an Operating and Financial Review (OFR), Management Discussion and Analysis (MD&A), a Business Review or other management commentary - is vital to corporate transparency.
o Although specific regulatory requirements for narrative business reporting are evolving, key performance indicators (KPIs), both financial and non-financial, remain an important component of the information needed to explain a company's progress towards its stated goals.
o >
§ Global version >
· Regulatory environment (page 6):
o The motivation for companies to report financial and nonfinancial KPIs, whether through explicit reporting requirements or good practice guidance, is not restricted to any one territory, it is a global phenomenon.
o An overview of some of the worldwide regulatory requirements and good practice guidance is shown in Exhibit 1
§ UK version >
· Regulatory environment (page 6)
· (historical website ??) CPASR The Centre for Public Agency Sustainability Reporting was launched in March 2005. Its mission is to improve the sustainability performance of public agencies through the practice of reporting. (Melbourne, Australia) >>
o Sustainability Reporting by public agencies: International uptake, forms and practice (.pdf, November 2005; 68 pp.)
§ See »Literature review« >
· 2.6. »Mandatory versus voluntary reporting« (see pages 15-17)
· Corporations and Market Advisory Committee (CAMAC; Australia) >
o Reports >
§ The social responsibility of corporations (.pdf, December 2006, 182 pp.)
· The Australian government is studying how best to induce corporate social responsibility (CSR), weighing the balance between regulatory requirements, voluntary incentives, and market-based inducements.
· Contents:
o Overview
o The international context
o Duties of directors
o Corporate disclosure
§ »The Advisory Committee has been asked to consider whether certain types of companies should be required to report on the environmental and social impact of their activities, in narrative or quantified form.«
§ By way of background and comparison, relevant developments in a number of other countries are outlined, see:
· 4.7. Overseas reporting requirements (pp. 125-135)
o USA, European Union, UK, France, Germany, South Africa, Canada
o Promotion of responsible practices
§ Summary of submissions (December 2006; .pdf has 92 pp.)
o Submissions >
§ Corporate social responsibility: Summary of submissions and individual submissions
o >??>
§ Corporate social responsibility – Discussion Paper (.pdf, November 2005, 128 pp.)
· Parliament of Australia >>
o Parliamentary Joint Committee on Corporations and Financial Services (The committee is established by the (ASIC) Australian Securities and Investments Commission Act 2001.) > Completed inquiries >
§ Corporate responsibility: Managing risk and creating value (Date Completed: 21 June 2006)
· = Inquiry into corporate responsibility and Triple-Bottom-Line reporting, for incorporated entities in Australia
· > e.g.
o Report > View the report as separate downloadable parts >
§ Chapter Six - Sustainability reporting: background and current status >
· Overseas developments
o (United States, European Union, South Africa)
· WINGS Worldwide Initiatives for Grantmaker Support (c/o Asia Pacific Philanthropy Consortium, Quezon City, The Philippines) >
o Information and resources >
§ WINGS publications >
· The Current Landscape of Corporate Social Responsibility - A "mapping exercise" on the definitions, current concepts and practices of Corporate Social Responsibility (CSR) worldwide (.pdf, 2008, 56 pp.)
o Download this report by section:
§ Annex 4 - Legal Environment/Reporting of Corporate Social Responsibility (.pdf, 8 pp.) - Profiles of Legal Environment and Reporting of CSR
· SSRN Social Science Research Network >> e.g.
o Financial Performance, Pollution Measures and the Propensity to Use Corporate Responsibility Reporting: Implications for Business and Legal Scholarship (2009; .pdf has 17 pp.; By Adam J. Sulkowski and D. Steven White, University of Massachusetts at Dartmouth - Charlton College of Business)
§ A brief history of regulation-by-disclosure and CR reporting is presented. The authors then review related business and legal scholarship.
o Social Reporting and New Governance Regulation: The Prospects of Achieving Corporate Accountability through Transparency (2005-?, work in progress; By David Hess, Ross School of Business, University of Michigan)
· Canadian Social Investment Organization (SIO) > e.g.
o Policy & Advocacy >
§ 2009 >
· September SIO Policy Alert: Federal Pension ESG Disclosure Bill Introduced (.pdf, 2 pp.)
o News Release: Robert Oliphant, MP Presents Bill Requiring Pensions Funds to Disclose Environmental, Social or Governance Considerations in Investing (.pdf, 1 pp.; September 15, 2009)
· September SIO Policy Alert: Mandatory ESG Disclosure in Canada and Abroad (.pdf, 4 pp.)
· Hennick Centre for Business and Law (Toronto, Canada)
o >>
§ Corporate Social Reporting Initiative: Report to Minister of Finance (15 June 2010; .pdf has 74 pp.)
· In their report, Corporate Social Reporting Initiative, produced with the generous support of the Association of Certified Chartered Accountants (ACCA), the Hennick Centre and Jantzi-Sustainalytics address the reasons and scope for and the regulation of corporate social reporting…
§ Corporate Social Performance: Reporting Roundtable (7 December 2009) - a roundtable consultation about corporate social reporting and disclosure convened by the Hennick Centre for Business and Law and Jantzi-Sustainalytics, sponsored by ACCA. >
· discussion paper (.pdf, 45 pp.)
· Appendix B (.pdf, 2 pp.) = Mandated ESG Disclosure: A discussion paper on current proposals for regulatory reform (By Eugene Ellmen, Executive Director, Social Investment Organization; Executive summary; November 2009)
· OSC Ontario Securities Commission (Toronto, Canada) >
o Securities Law & Instruments >
§ Instruments, Rules & Policies >
· 51-717 - Corporate Governance and Environmental Disclosure >
o OSC corporate sustainability reporting initiative - Report to Minister of Finance (.pdf, 18 December 2009, 96 pp.)
o See also
§ related news release: OSC announces plans to enhance compliance with corporate governance and environmental disclosure requirements for 2010 (18 December 2009)
· CGA-Canada Certified General Accountants Association of Canada >
o Research & Advocacy >
§ Areas of Interest >
· Sustainability Reporting = Measuring Up: A Study on Sustainability Reporting in Canada – A CGA-Canada report (2005) >
o Download Report >
§ Measuring Up: A Study on Sustainability Reporting in Canada (Part 3) (.pdf, 42 pp.), entitled »The Future of Corporate Sustainability Reporting« > e.g.
· Chapters:
o Future Drivers of CSR, Investor Pressures & SRI, Institutional Investors, Governments & Regulators, Consumers and Employees
o The Role of Government, The Role of Securities Regulators, The Role of Society
· InterPraxis (Canada) >
o Resources > Feature Reports > Corporate Accountability Dialogue >
§ Corporate Responsibility and Accountability in the Global Marketplace (.pdf, 2003, 15 pp.)
· See Appendix 4:
o CSR Legislation and Recent Significant Government and International Initiatives; National and international standards for corporate social responsibility or sustainability as it relates to business practice.
· Economie teoretica si aplicata = Theoretical and Applied Economics > e.g.
o Arhive > 2007 > Nr. 11 / 2007 >
§ New Perspectives on Corporate Reporting: Social-Economic and Environmental Information (By Camelia Iuliana Lungu, Chirata Caraiani & Cornelia Dascalu; .pdf has 6 pp.)
· MUFAD - Muhasebe ve Finansman Ogretim Uyeleri Dernegi = AAFA Assocation of Accounting and Finance Academicians (Turkey; Also English version of website) > e.g.
o Dijital Archieves >> e.g.
§ A review on how CPAs should be involved in environmental auditing and reporting for the core aim of it (.pdf, 16 pp.; By Mehmet Özbirecikli)
· This Paper was presented in "The Balkan Countries' 1st International Conference on Accounting and Auditing" 8-9 March 2007
· Global Corporate Social Responsibility disclosure legislation (.pdf, September 2004, 2 pp.; Or here; By: Annemarie Meisling, assistant attorney at law at Lawhouse.dk)
o »Legislators and other financial rule-makers across the world are telling companies and institutional investors to say what part, if any, social responsibility plays in their business plans.«
· The International Corporate Sustainability Reporting Site > e.g.
o Resources >
§ Articles & reports (English) > e.g.
· Research reports and papers:
o Corporate Environmental Reporting, Review of Policy Action in Europe (.pdf, 2002, 45 pp.; By Tareq Emtairah, IIIEE International Institute for Industrial Environmental Economics, Lund, Sweden)
· SRI World Group >
o SocialFunds.com > News > News Center > e.g.
§ By Category >
§ >> e.g.
· Activist Shareowners Celebrate SEC Reversal of Bush-Era Ruling (29 October 2009) - New ruling from the Division of Corporation Finance would allow shareowner resolutions addressing the financial risks of corporate activities in environmental and social areas.
· SEC Forms Investor Advisory Committee (5 June 2009) - Commission invokes its mandate to protect investors as a factor in the formation of the Committee, which includes in its membership representatives of the social investment community.
o See also related news at:
§ Hear podcast at Sea Change Radio: Democratizing the SEC — to Address Sustainability (3 March 2010)
· Sea Change Radio Host Bill Baue talks with Adam Kanzer of Domini Social Investments about the new SEC Investor Advisory Committee, on which he represents the socially responsible investing (SRI) community.
§ CSRwire: SEC on ESG? (2 March 2010; CSRlive Commentary by Bill Baue) - Is the Security and Exchange Commission Finally Integrating Sustainability and Governance Factors into Regulation?
· … Kanzer and Stephen Davis of Yale's Millstein Center for Corporate Governance, chair of the Investor as Owner Subcommittee, outlined the workplan on ESG disclosure (according to meeting attendee Peter DeSimone of the Social Investment Forum, the socially responsible investing industry organization):
o In April, Subcommittee members will hold a meeting on the benefits of ESG disclosure to investors from a risk management perspective;
o In May, they will look at accounting standards and triggers for disclosure of contingent liabilities in the United States and other markets;
o In June, they will review reporting standards, including the Carbon Disclosure Project (CDP) and the Global Reporting Initiative (GRI), and look at information collected by the European Commission during its six meetings on ESG disclosure over the past year;
o In the summer, the Subcommittee plans to hold a public hearing on ESG disclosure to coincide with another meeting of the entire SEC.
§ GRI Global Reporting Initiative: SEC increasingly shifts its policies to incorporate ESG concerns (10 November 2009)
· Institutional Investors Call on SEC to Require Climate Change Disclosure (5 November 2008) - Fourteen large institutional investors join in request for improved ESG reporting as goal of SEC's 21st Century Disclosure Initiative.
· Environmental, Social and Governance Standards: Glass Half-Empty or Half-Full? (28 November 2007) - The spread of voluntary and mandatory ESG disclosure and performance standards for business raises the question, how robust is implementation and enforcement?
· The Problem with Voluntary Corporate Initiatives Is -- Well, They Are Voluntary (16 January 2007)
· Investors Call on S&P 500 Companies to Use New Global Reporting Initiative G3 Guidelines (5 October 2006)
· Canadian Social Investment Organization Recommends Mandating Global Reporting Initiative (20 September 2006)
· UK Kills Operating and Financial Review of Environmental and Social Information (8 December 2005)
· Institutional Investors Call on SEC, Wall Street, and Companies to Address Climate Risk (11 May 2005)
· Memo From: SRI Analysts To: Companies--Use GRI Sustainability Reporting Platform! (7 October 2004)
· Senate Calls on the SEC to Enforce Environmental Disclosure Regulations (16 July 2004)
· UK Prepares To Mandate Environmental and Social Reporting (28 May 2004)
· Underreporting of Material Environmental Liabilities Persists (23 December 2003)
· Members of Congress Consider Social and Environmental Disclosure in SEC Filings (11 July 2003)
· SEC Urged to Strengthen Rules Governing Corporate Disclosure of Environmental Risks (21 August 2002)
· Companies Skirt Disclosure of Environmental Liabilities (8 April 2002)
· New French Law Mandates Corporate Social and Environmental Reporting (14 March 2002)
· Major UK Fund Manager to Require Environmental Reporting (19 April 2001)
· SEC Asked to Enforce Its Environmental Disclosure Rules (1 February 2001)
o Or / and:
§ OneReport »The Sustainability Reporting Network«
· CSRwire >> e.g.
o CSRwire Talkback: Legal Frontiers Of Sustainability, Part Two: Will Integrated Financial And Sustainability Reporting Become A Legal Mandate? (21 April 2010; By Sanford Lewis) - Is the SEC getting serious about sustainability?
o CSRwire Talkback: Legal Frontiers of Sustainability: Part 1 (4 April 2010; By Sanford Lewis) - Is Sustainability a Fiduciary Duty of Corporate Directors?
o Groundbreaking 93-Page CSR Insight™ Report Just Published On Global Sustainability Regulation, Metrics, and Trends (8 February 2010; Complimentary to all CSR Insight™ Members and Subscribers) >
§ CSR Insight (CEO: Linda Lowson)
· See also related article at Environmental Leader: 10 Trends in Sustainability Reporting (10 February 2010)
o Ontario Legislature Calls for Enhanced Disclosure Requirements (10 April 2009; link ??) - Today the Ontario Legislature passed a motion calling on the Ontario Securities Commission (OSC) to review current corporate reporting standards and to produce recommendations for enhanced disclosure.
o The Latest Corporate Social Responsibility News - Shareholder Activists and Companies Do the Sustainability Dance (28 October 2008; By Bill Baue)
o Investors Call on SEC to Require Better Disclosure on Climate Change and Other Risks (23 October 2008)
· Environmental Finance (Magazine; To subscribe) > e.g.
o Archive >
§ Subject:
· Reporting >> e.g.
o Regulation ‘no solution’ to sustainability reporting drawbacks (25 March 2010)
§ Mandatory reporting is not the right solution for shortcomings in voluntary corporate sustainability reports, experts said this week.
o (historic) Online News > e.g.
§ Mandatory reporting unnecessary, says Context (London, 27 July 2006)
· Most major companies are reporting on their environmental and social impacts voluntarily, making proposals to introduce mandatory reporting redundant, a corporate responsibility consultancy has said.
· Context, which helps produce reports, says that companies are reporting of their own accord and do not need government intervention to increase transparency.
§ Australian parliament pushes for sustainability risk disclosure (6 July 2006)
· An Australian parliamentary committee has recommended that sustainability reporting should not be made mandatory for major companies.
· Ethical Corporation »Magazine, Conferences, Reports« > e.g.
o Europe > e.g.
§ »European Commission: Pushing business-driven corporate citizenship« (16 May 2006)
· »No surprises as the European Alliance for CSR launches, encouraging voluntary corporate social responsibility practice«
o Politics > e.g.
§ UK climate change bill – Low-carbon legislation at last (1 September 2008; By Peter Davis)
o Special Reports > e.g.
§ Legal issues – Ultimate governance: the international regulation of corporate responsibility (11 January 2007)
§ »By Invitation: Ethical reporting and the law« (3 February 2005; By: Phillip H Rudolph, a corporate social responsibility partner in the Washington DC office of Foley Hoag LLP)
o By Invitation > e.g.
§ Book review - The failure of corporate law (8 November 2006)
· Joseph Singer recommends a new text on corporate law from Kent Greenfield
· »The Failure of Corporate Law: Fundamental Flaws and Progressive Possibilities is simply the best and most well-reasoned progressive critique of corporate law yet written.«
o »Search« might be useful.
§ >??> Browse By Category > e.g.
· Non-Financial Reporting > e.g.
o Carbon accounting – Emissions disclosure stacking up (21 July 2009; By Oliver Balch)
o Ceres – Serious about reporting (12 June 2009)
§ Companies should be forced to issue non-financial reports, according to Mindy Lubber, president of Ceres
o The Operating and Financial Review - Testing transparency (4 January 2006)
o Why mandatory reporting has fallen from the EU agenda (19 August 2005; or at Spinwatch)
o Turning on the lights (16 August 2005; Comment on the report »Influencing Power« by SustainAbility & WWF)
o The globetrotter's guide to stakeholder reporting (16 September 2004, 5 pp.)
o Renewed calls for mandatory environmental reporting (28 July 2004)
· Corruption & Lobbying > e.g.
o Corporate lobbying – rising up the CSR agenda (7 July 2005; Columnists; By: Mallen Baker)
· Regulation, Taxation & Legal Developments
· Business & Human Rights Resource Centre
o = Centro de Recursos sobre Empresas y Derechos Humanos = Centre de Ressources sur les Entreprises et les Droits de l'Homme
o > e.g.
§ Simple »Search« and »More search options« can be very useful.
§ Browse the online library, by:
· Issues >
o Other >
· All topics >
o Company policy/steps >
§ Reporting >
§ >
· UN Special Representative >>
o Reports on Corporate Law Tools
§ Leading corporate law firms are working with UN Special Representative John Ruggie to identify, in a series of 42 reports, whether and how national corporate law principles and practices currently foster corporate cultures respectful of human rights.
§ National jurisdictions explored:
· Africa: Algeria, Angola, Botswana, Democratic Republic of the Congo, Kenya, Liberia, Morocco, Mozambique, Nigeria, South Africa, Sudan.
· Asia-Pacific: Australia, China (incl. Hong Kong), India, Indonesia, Japan, Malaysia, New Zealand, Papua New Guinea, Singapore.
· Europe & Middle East: Belgium, Denmark, Egypt, Finland, France, Germany, Italy, Luxembourg, Netherlands, Norway, Russian Federation, Saudi Arabia, Spain, Sweden, United Arab Emirates, United Kingdom.
· North America: Canada, Mexico, USA.
· South America: Argentina, Brazil, Chile, Colombia.
§ The reports follow a template developed by Vanessa Zimmerman, Legal Adviser to the Special Representative. > also
· Reporting:
o 16. Are companies required or permitted to disclose the impacts of their operations (including human rights impacts) on non-shareholders, as well as any action taken or intended to address those impacts, whether as part of financial reporting obligations or a separate reporting regime?
o 17. Do reporting obligations extend to such impacts outside the jurisdiction; to the impacts of subsidiaries, suppliers and other business partners, whether occurring inside or outside the jurisdiction?
o 18. Who must verify these reports; who can access reports; and what are the legal consequences of failing to report or misrepresentation?
· GlobeScan - Global Public Opinion and Stakeholder Research > e.g.
o Research Findings (Free registration required) >
§ Views of Sustainability Experts >
· Mandated Corporate Social Responsibility
· The Economist >> e.g.
o The World In... > 2008 (January 2008) > Business >
§ Sustainable math (By Kate Galbraith) - Environmental reporting for companies needs teeth
o Debates >>
§ Sustainability and corporate responsibility (June 17th - 27th 2008) – Corporate responsibility
· This one off debate focused on the proposition "This house believes that without outside pressure, corporations will not take meaningful action on sustainability."
· UNEP/Wuppertal Institute Collaborating Centre on Sustainable Consumption and Production (CSCP) > e.g.
o Our Projects >
§ Resource Efficiency Instruments (2007) > chapter-by-chapter > Informational Instruments > Sustainability Reporting (.pdf, 4 pp.)
· Claros Consulting >>
o Open disclosure – Sustainability and the listing regime (.pdf, February 2003, 63 pp.)
§ (Also financial impacts of social / environmental performance.)
· Ashridge Business School (UK) >
o Research & Faculty >
§ Ashridge Centre for Business and Society > e.g.
· Current Research on Corporate Responsibility and Sustainability >
o Publications
§ Publications >
· Research Publications Database >
o Subject Area: Sustainability/Corporate Responsibility >> e.g.
§ Board View: Dealing with material non-financial issues (2005; .pdf has 16 pp.)
· Foreword, Executive summary and Overview of case study supplement
§ Demands and Challenges of the OFR (2004; .pdf has 22 pp.)
§ Corporate Accountability – The Case of Denmark (2003; .pdf has 8 pp.)
§ Corporate Responsibility - Who is responsible (Spring 2003; .pdf has 6 pp.)
· University of Nottingham >>
o ICCSR International Centre for Corporate Social Responsibility (UK) >
§ Research > Research Paper Series >
o 32–2005 Corporate Social Reporting and Stakeholder Accountability - The Missing Link (.pdf, David L. Owen, 39 pp.)
§ »The paper critically evaluates the degree of institutional reform, designed to empower stakeholders, and thereby enhance corporate accountability, accompanying current leading edge reporting initiatives.«
· SustainAbility >
o Research & Advocacy >
§ By Theme > Corporate Reporting
o >>
§ Tags: Reporting
· MHCi MHC International Ltd (UK; Managing director: Michael Hopkins) > e.g.
o Publications > Monthly Features > e.g.
§ Governance, The Law and CSR > e.g.
· CSR and Legislation: Legislate or Not? (July 2002)
o >>
§ Masterclass on CSR and Law (2005, 2006)
· EIRIS Ethical Investment Research Services (Head Office: London, UK)
o EIRIS is a leading global provider of independent research into the environmental, social, governance (ESG) and ethical performance of companies.
o >
§ Publications >
· Taking stock: how can leading stock exchanges address sustainability issues and enhance ESG disclosure (.pdf, November 2009, 8 pp.) - Explores the evolving role of stock exchanges, giving an insight into both their current and future role in responsible investment.
· The state of responsible business: Global corporate response to environmental, social and governance (ESG) challenges (September 2007; .pdf has 98 pp. (link to full report ??); By Bob Gordon) >
o Chapter: 2.1 Legislation and regulation (pp. 15-17)
· GRI Global Reporting Initiative > e.g.
o Current Priorities >
§ The Amsterdam Declaration on Transparency and Reporting (March 2009)
· … Therefore the Board of GRI calls on governments to take leadership by:
o 1. Introducing policy requiring companies to report on ESG factors or publicly explain why they have not done so.
o 2. Requiring ESG reporting by their public bodies – in particular: state owned companies, government pension funds and public investment agencies.
o 3. Integrating sustainability reporting within the emerging global financial regulatory framework being developed by leaders of the G20.
o See also:
§ related news at CSRwire: The Amsterdam Declaration on Transparency and Reporting (10 March 2009) - Leaders from business, labor and civil society call on governments to demand greater transparency from companies in this time of crisis
§ Future Trends > also
· Links > also
§ Resources pointing out government and market leadership in the encouragement of sustainability reporting.
· See also
o related news: Future Trends in Sustainability Reporting: GRI’s new research program (15 June 2010)
§ Several topics will be covered under this program including: also
· Regulations
o Learning & Support >
§ GRI Publications >
· Learning Publications >
o Explorations >
§ The Transparent Economy (May 2010; .pdf has 52 pp.) - Six tigers stalk the global recovery—and how to tame them
· Prepared by Volans - The Business of Social Innovation (Co-founder: John Elkington)
· What is the future for corporate transparency and sustainability reporting—sometimes called ‘non-‘ or ‘extra-financial’ reporting? This is the question we tackle in The Transparent Economy, a joint report by Volans and the Global Reporting Initiative (GRI).
· The study included an online survey of the GRI community, focusing on seven major trends—subsequently boiled down into the TIGERS agenda: also
o Government Leadership - the role of governments in leading change towards the Transparent Economy
· Research & Development Publications >
o Other free publications: e.g.
§ Carrots and Sticks – Promoting Transparency and Sustainability (.pdf, May 2010, 96 pp.) - An update on trends in Voluntary and Mandatory Approaches to Sustainability Reporting
§ High Impact Sectors: The Challenge of Reporting on Climate Change (December 2009; .pdf has 88 pp.; Launched at the COP15 Climate Change Summit)
· Section 1 looks at the various mandatory and voluntary disclosure schemes in existence today. The implication of this section is that the disclosure web is growing tighter by the year.
o There is a wide range of initiatives related to GHG accounting and reporting: some are mandatory and some voluntary; some are international and some regional or local; some are for national accounts, some for organisational accounts and some for project accounts; some address the technical requirements of accounting and reporting and some are designed to compel or require accounting and reporting.
o The summary of initiatives (see Table 1.1) looks first at the most prominent standards and guidelines that address the technical requirements of accounting and reporting (be they international or local; required or voluntary), and then at initiatives designed to compel or require accounting, reporting and assurance.
o News & Events >
§ Press Releases >
· GRI announces its 2015 and 2020 goals and launches G3.1 public comment at first day of Amsterdam Global Conference (26 May 2010)
o During the Opening Plenary, GRI’s Chief Executive Ernst Ligteringen outlined two goals for the next decade. Firstly, GRI proposes that environmental, social, and governance (ESG) reporting should become a general practice to help markets and society take informed and responsible decisions. GRI advocates that by 2015 all large and medium-sized companies in OECD countries and fast-growing emerging economies should be required to report publicly on their ESG performance, or if they don’t, explain why.
· NSFM Network for Sustainable Financial Markets > e.g.
o Wealth management in a post-GFC world (.pdf, June 2010, 36 pp.) - Promoting best practice, innovation & sustainable outcomes for industry, consumers & society
§ This report is an initiative of the Wealth Management Working Group of the NSFM, chaired by Greg Chipman (Managing Director, CJC Global and Director, RIAA) and Matt Christensen (Executive Director, Eurosif).
§ >
· Part 2 - Facilitating sustainable investment outcomes
o Recommendations:
§ #13 – Sustainability disclosure & reporting
· OVFA Oesterreichische Vereinigung für Finanzanalyse und Asset Management (= Austrian Association for Financial Analysis and Asset Management) >>
o Corporate Responsibility > e.g.
§ Corporate Responsibility_2.0_2010_englisch (.pdf, June 2010, 39 pp.; By Fritz Mostböck; Also German translation) = ÖVFA Publication Series: Corporate Responsibility 2.0: From Corporate Responsibility to “General Responsibility”
· Based on the 1st ÖVFA Publication on Corporate Responsibility of November 2004 (please refer to www.ovfa.at, www.dvfa.de, www.effas.com, or www.sustainablefinancialmarkets.net for a copy)
· See also press release (2 July 2010) at CSRwire
· IFAC International Federation of Accountants > e.g.
o Commitees:
§ International Center for Professional Accountants in Business (PAIB) > e.g.
· Sustainability Framework (Updated 2010, February 2009)
o >
· This search engine has been developed by IFAC and its members to provide professional accountants in business, small and medium practitioners, and other accountants with access to global resources and information.
· IASB International Accounting Standards Board > e.g.
o Current Projects > e.g.
§ IASB Projects > e.g.
o Management Commentary Discussion Paper (October 2005; .pdf has 96 pp.)
§ »The Board asked the Financial Reporting Standards Board (FRSB) of the Institute of Chartered Accountants of New Zealand to provide staff to lead the project. The UK Accounting Standards Board (ASB), the Canadian Institute of Chartered Accountants (CICA) and the Deutsches Rechnungslegungs Standards Committee e.V. (DRSC) were asked to provide staff to assist with research and drafting.«
§ What is is MC?
· »There is a consistent view among those issuing requirements that MC supplements and complements financial information, providing insights into an entity’s performance that financial statements cannot, and should not, be expected to achieve on their own. This might be achieved through the presentation of non-IFRS financial information and non-financial information.«
§ See Appendix B: Existing requirements for MC (Management Commentary)
· IOSCO, Australia, Canada, European Union (EU), Germany, New Zealand, United Kingdom (UK), United States (USA)
§ >>
· Comment Letters
o Meeting Summaries and Observer Notes
· CRUF Corporate Reporting Users’ Forum
o The CRUF was formed in 2005 as a discussion forum with the aim of helping its participants in their approach to the debate on current and future corporate reporting requirements. In particular, participants are keen to have a fuller input into the deliberations of the International Accounting Standards Board.
· UNCTAD United Nations Conference on Trade and Development >>
o ISAR (Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting)
§ »The objective of ISAR is to promote the transparency, reliability and comparability of corporate accounting and reporting as well as to improve disclosures on corporate governance by enterprises in developing countries and countries with economies in transition.«
§ > e.g.
· >
o Just Published: e.g.
§ 2009 Review of the implementation status of corporate governance disclosures: an inventory of disclosure requirements in 24 emerging markets (.pdf, 8 October 2009, 21 pp.)
· Areas of Work > e.g.
o Corporate Governance Disclosure
§ The aim of this project was to assist developing countries and countries with economies in transition in identifying and implementing best corporate governance practices to achieve better transparency, financial disclosure and accountability.
§ > e.g.
· Guidance in Good Practices in Corporate Governance Disclosure (June 2006; .pdf has 53 pp.)
o UNCTAD draws upon recommendations for corporate governance disclosure contained in documents from other international organizations and national governments, as well as the deliberations of the ISAR. For reference purposes, the guidance also contains a list of national and international resources on corporate governance disclosure.
o > e.g.
§ Chapter 2: Non-Financial Disclosures > also »Material Issues Regarding Stakeholders, and Environmental and Social Stewardship«
· an issues paper on implementation of corporate governance disclosure requirements (.pdf, 2003, 17 pp.)
· five case studies on implementation of corporate governance disclosure (2003; Brazil, France, Kenya, the Russian Federation, the United States)
· Selected Issues in Corporate Governance: Regional and Country Experiences (.pdf, 2003, 65 pp.)
o Corporate Responsibility Reporting > e.g.
§ Guidance on Corporate Responsibility Indicators in Annual Reports (.pdf, 2008, 66 pp.)
§ 2008 review of corporate responsibility reporting (.pdf, October 2008, 32 pp.) = 2008 Review of the reporting status of corporate responsibility indicators
§ Disclosure of the Impact of Corporations on Society (.pdf, 2004, 121 pp.)
o Environmental Accounting and Reporting
· Publications >
o Environmental, Social and Governance Disclosure
· PwC PricewaterhouseCoopers > e.g.
o Today's challenges > e.g.
o Our services >
§ Audit and assurance >
· Sustainability reporting > also
o Of further interest >
· Developments
o The proliferation of evolving practices, guidance and regulations relating to the presentation and disclosure of corporate reporting continues to escalate. In this section we examine developments worldwide in the area of corporate reporting and the common themes that are now emerging.
· Toolkit >
o Practical guides >
§ Guide to key performance indicators (June 2006)
§ Consulting >
· Sustainability > e.g.
o Services:
§ Reporting and assurance of non-financial information
o Publications
o Sustainability country links >
§ Australia, Canada, Denmark, Mexico, Russia, South Africa, Sweden, UK, US (= Sustainability and climate change)
o International PwC Sites >
§ PwC UK >>
· Guide to key performance indicators: Communicating the measures that matter (June 2006)
o Although specific regulatory requirements for narrative business reporting are evolving, key performance indicators (KPIs), both financial and non-financial, remain an important component of the information needed to explain a company's progress towards its stated goals.
· >>
o PwC corporate reporting blog (David Phillips, senior corporate reporting partner)
· SAM – Sustainability Investing (Zurich) >
o Publications >
§ SAM Sustainability Yearbook (with PwC) >??>
· Executive Summary and Excerpts of Sustainability Yearbook 2005 (.pdf has 36 pp.; Written together with PwC) >
o Focus: The Move Towards Mandatory »Narrative« Reporting (.pdf; See page 20)
· ICC International Chamber of Commerce >
o Business in Society > e.g.
§ Non financial reporting = ICC views on economic, environmental and social reporting (Policy Statement; 4 March 2005)
· Content:
o The rationale, Evolution, Frameworks should be voluntary and flexible, International reporting frameworks, SRI, balanced approach to reporting
o Press >> e.g.
§ ICC applauds non-financial reporting by companies (15 March 2005)
· »ICC is keen to keep the process voluntary. It is "seriously concerned" that several governments are now ordering companies to provide non-financial information in their normal financial reports. Such regulation, ICC says, is likely to lead to "a mechanical and lowest-common denominator" approach to reporting." The reports "will be of little or no value to the wide range of stakeholder audiences." Instead, governments should support existing global initiatives for voluntary reporting.«
· OECD Organisation for Economic Co-operation and Development > e.g.
o By Department > OECD Secreteriat > DAF Directorate for Financial and Enterprise Affairs > International Investment >
§ Guidelines for Multinational Enterprises (or here)
· »Enterprises should apply high quality standards for disclosure, accounting, and audit. Enterprises are also encouraged to apply high quality standards for nonfinancial information including environmental and social reporting where they exist. The standards or policies under which both financial and non-financial information are compiled and published should be reported.«
· UN Global Compact > e.g.
§ A Communications on Progress (COP) is an annual description of actions taken in support of the Global Compact, made available to stakeholders.
§ It is expected of all companies participating in the Global Compact every year, and must be communicated publicly to stakeholders through annual financial, sustainability other prominent public reports, websites or other communication channels.
o News & Events >>
§ Archive > News Archive >>
· Global Investors Ask Companies to Disclose Anti-Corruption Measures (27 April 2010)
· Investors Step Up Pressure on Corporate Responsibility Reporting (12 February 2010) - This is the third year that investors have engaged with UN Global Compact participant companies on the issue of transparency.
o See also
§ Related article at SocialFunds:
· Investors Call on 86 Global Compact Signatories to Produce Annual Communication on Progress (19 February 2010)
· Investors Give New Twist to Good COP/Bad COP (12 January 2009) - "A coalition of investors worth over USD 3 trillion has today launched an initiative to help police the corporate responsibility reporting of companies as diverse as Air France, GAP Inc and LVMH (Louis Vuitton Moët Hennessy)."
· ILO International Labour Organization >
o Offices, Departments and Programmes >
§ Employment >
· The Multinational Enterprises Programme is responsible for the promotion and follow-up of the Tripartite Declaration of Principles concerning Multinational Enterprises and Social Policy (MNE Declaration) >
o Research (Publications) >
§ WP 99: Public policy, reporting and disclosure of employment and labour information by multinational enterprises (MNEs) (.pdf, 2005, 25 pp.; By: Michael D. Urminsky)
· Also on national reporting requirements in France, Belgium and United States
· ICCR (Interfaith Center on Corporate Responsibility; USA) > e.g.
o News/Media >
§ Press Releases > e.g.
· Investors send letter to UN Special Representative on human rights urging meeting (.pdf, 10 October 2006, 13 pp.) > see
o Recommendation on »Disclosure of Non-Financial Performance«
o Attachment 2: Comments on »Reporting on Non-Financial Performance« Paper
o See also:
§ at Business & Human Rights Resource Centre:
· Letter to UN Special Representative on business & human rights John Ruggie regarding human rights impact assessments & non-financial reporting (10 October 2006)
· Reporting on Non-Financial Performance (7 August 2006; .pdf has 4 pp.)
o »Public reporting is essential for improving the impact of business activity on human rights. Reporting is a vehicle for greater transparency, accountability, and building trust between companies and their stakeholders. Just as financial disclosure underpins the proper functioning of capital markets, so too can disclosure of social and environmental performance support a high-performing society.«
· WRI World Resources Institute (Washington, DC) > e.g.
o Governance & Access >
§ Publications >>
· World Resources 2002-2004 (1 July 2003) >
o Chapter 6. Driving Business Accountability (.pdf, 30 pp.)
§ »Business transparency and accountability are prerequisites for better environmental governance. Public disclosure is the face of a new and more participatory approach to regulating the environmental performance of businesses.«
o Markets & Enterprise >
§ Projects >
· ENVEST: Environmental Intelligence for Tomorrow's Markets
o Ensures that the financial implications of environmental opportunities and risk are properly understood by financial institutions, investors and issuers and are appropriately reflected in the world’s capital markets.
o >
§ Publications >
· Undisclosed Risk: Corporate Environmental and Social Reporting in Emerging Asia (June 2009; By Dana Krechowicz and Hiranya Fernando; .pdf has 32 pp.)
o This report focuses on corporate transparency on environmental risks, and lays the groundwork for understanding environmental disclosure and reporting issues in emerging markets through an investor lens.
o Undisclosed Risk: Corporate Environmental and Social Reporting in Emerging Asia examines the current state of public corporate sustainability reporting in English by the ten largest companies in each of six Asian countries—India, Indonesia, Malaysia, Philippines, Thailand and Vietnam.
o To put the results in context, we also examine the regulatory and non-regulatory drivers in place in each country to encourage corporate disclosure on sustainability risks.
o Undisclosed Risk is part of a multi-report research project between WRI and the International Finance Corporation (IFC)
· IFC International Finance Corporation > e.g.
o Topics A-Z > e.g.
§ Environmental and Social Sustainability >
· Environmental and Social Standards >
o Performance Standards and Guidance Notes >
§ Performance Standard 1: Social and Environmental Assessment and Management System
· Publications >
o Publications by Topic:
· Getting More Value Out of Sustainability Reporting (June 2010; .pdf has 32 pp.; By IFC and GRI)
o … IFC has therefore partnered with GRI to offer this Good Practice Note for interested companies on how to improve their sustainability reporting using the GRI Guidelines in conjunction with IFC’s Sustainability Framework.
o This guide is designed to help companies develop systems that respond to the Performance Standards requirements around reporting. Consequently, the current version is being released as a “Road Test” draft to solicit feedback on its usefulness. A final version will be published in 2011, following the completion of the standards review and update.
o >???>
§ Opportunities and Obstacles for CSR Reporting in Developing Countries (.pdf, March 2004, 60 pp.; By Dara O'Rourke, University of California, Berkeley; Prepared for the Corporate Social Responsibility Practice of the World Bank Group)
o >>>
§ IFC Private Sector Development Blog >>
· Gender and Business Performance: Compliance vs. Voluntary Reporting? (23 October 2008)
o See also:
§ related press release at IFC: IFC Partners with Global Reporting Initiative to Improve Corporate Reporting on Gender Issues (Washington, D.C.; 17 September 2008)
§ Wikigender’s Gender and Corporate Social Responsibility (CSR) page
· foei Friends of the Earth International >
o What We Do
§ Our program on Economic Justice - Resisting Neoliberalism challenges the current economic model by exposing and resisting corporate power and the new Global Europe strategy, while identifying and promoting initiatives that generate sustainable livelihoods.
o Resources >
§ Publications >
· Economic Justice - Resisting Neoliberalism >>
o international right to know: empowering communities through corporate transparency (2003; .pdf has 24 pp.; Friends of the Earth US)
o big business rules? corporate accountability and the johannesburg summit (2002)
o towards binding corporate accountability (2002)
· GPPi Global Public Policy Institute (Berlin) > e.g.
o Consulting >> e.g.
§ Review of the Global Reporting Initiative (Projection duration: November 2005 - May 2006) >
· Publications >
o Trends in non-financial reporting (.pdf, November 2006, 50 pp.) >
§ 3.2. Analyzing drivers and levers behind non-financial reporting > e.g.
· 3.2.5. Government pressure could be a powerful lever behind non-financial reporting but government activism appears to be leveling off (pages 24-28)
o Events > e.g.
§ GPPi Discussion Series > e.g.
· Conference “Business Unusual: Partnerships as Strategic Investments” (Berlin 12-13 December 2005)
o Workshop: Building a Business Case for Sustainability Reporting (Summary by Julia Hartmann)
· FEE (Federation des Experts Comptables Europeens; The European Federation of Accountants) >
o Our Work >
§ Sustainability = Sustainability Working Party (SWP) and Sustainability Policy Group (SPG) >
· News > e.g.
o FEE Position on ESG Disclosure - FEE contribution to EC ESG Disclosure Workshop of 25 February 2010 (.pdf has 5 pp.)
o FEE Roundtable on the Public Sector and Sustainability “Accounting, Sustainability and the Public Sector - policy and accountability, a route map” (8 July 2009, Brussels)
§ This roundtable focused on how sustainability in the public sector can be improved and integrated both in terms of policy and reporting with a live audience.
§ Issues that were addressed include non-financial indicators, impact of the crisis, public procurement, and sustainability reporting.
· Publications > e.g.
o Press Release: Public Sector to drive sustainability and lead by example (21 December 2009)
§ Call for Action: The public sector should report on sustainability as part of its normal accountability as this should go beyond financial terms. Government policy needs to be linked to key non financial and to financial indicators in combination. The concept of sustainability and the related reporting concepts need to be better developed in the public sector.
o Discussion Paper: Sustainability Information in Annual Reports - Building on Implementation of the Modernisation Directive (December 2008; .pdf has 62 pp.; Press Release)
§ See also
· related downloadable files from FEE - Eurosif Roundtable on “Sustainability Disclosure” (29 April 2009; At the European Parliament, Brussels)
· related article in Eurosif's EU Insider (May 2009): Eurosif co-organised with FEE a roundtable on “sustainability disclosure” hosted at the European Parliament and will participate in upcoming workshops organised by the European Commission
o … The EC concluded by announcing that the outcomes of these workshops could well be a regulatory decision about how to better include ESG disclosures into company annual reports. The conclusions of these workshops will be discussed during an EU-wide conference to be organised by the Spanish Presidency in late March 2010.
· Europa >> European Commission >>
o Employment, Social Affairs and Equal Opportunities > What we do > Partners > Corporate Social Responsibility (CSR) >
§ Related Documents >
· Corporate social responsibility - National public policies in the European Union (.pdf, September 2007, 100 pp.) >
o 2. Ensuring Transparency >
§ Reporting Framework (for countries: Belgium, Denmark, Spain, France, The Netherlands, Austria, Sweden, United Kingdom)
o Enterprise and Industry >
§ Policy highlights > Sustainable and responsible business > Corporate social responsibility >
· Reporting and disclosure > Workshops on the disclosure of environmental, social and governance information
o Each workshop looked at ESG disclosure from the perspective of a different set of stakeholders (available are Summaries of discussions, Presentations and Background documents):
§ Workshop 1 – the enterprise perspective (18 September 2009) - Enterprises (the providers of ESG information) >
· Summary (.pdf, 14 pp.) >
o National approaches to ESG disclosure in the European Union (Denmark, Spain, France, Sweden; pages 5-6)
· See also related news: European workshops on the disclosure of environmental, social and governance information (13 October 2009)
§ Workshop 2 – the investor perspective (30 October 2009) - Investors (mainstream and SRI), financial analysts, accountants, rating agencies > e.g.
· Summary (.pdf, 22 pp.) >
o Regulation (pages 10-11)
· Background documents:
o National laws and policy intiatives:
§ France policy on CSR reporting, Michel Doucin (.pdf has 11 pp.; 26 October 2009; In English)
§ Bilan de application de la loi NRE, ORSE (.pdf has 69 pp.; April 2004; In French)
§ Rapport sur application de la loi NR, French Government (.pdf has 49 pp.; August 2007; In French)
§ France Grenelle I - 3 août 2009 (.pdf has 6 pp.; In English & in French) = France – A law with important provisions regarding social and environmental disclosure = The Grenelle 1 Act of 3 August 2009 – Article 53
§ CSR in Dutch corporate governance code (.pdf has 2 pp.)
§ Dutch Transparency Benchmark for ESG disclosure (.pdf has 4 pp.)
§ Workshop 3 (4 December 2009): Civil society and NGOs, consumers, media >
· Workshop 3: Civil society, consumer and media perspectives - Summary of discussions (.pdf, 22 pp.)
§ Workshop 4 (27 January 2010): Trade unions >
· Workshop 4: The perspective of Trade Unions - Summary of discussions (.pdf, 28 January 2010, 18 pp.)
· See also
o news at GRI Global Reporting Initiative: 4th European ESG Workshop – Trade unions and public authorities (3 February 2010)
§ Workshop 5: Public Authorities (29 January 2010) >
· Summary of discussions (.pdf, 22 pp.)
§ Workshop 6 - final workshop and discussion of hypothetical scenarios (25 February 2010) >
· Summary (.pdf, 24 pp.)
o In preparation for the final workshop, 5 hypothetical scenarios were developed for what European public policy on ESG disclosure could look like in 2015.
o The chosen scenarios were designed to reflect, in as balanced a way as possible, some of the policy choices raised by participants, including (but not limited to):
§ changing or not changing current policy;
§ pursuing regulatory or non-regulatory options;
§ addressing ESG disclosure by enterprises only or by all entities;
§ regulation that sets just principles or regulation that sets principles and key performance indicators (KPIs);
§ a strictly European approach or a global approach.
o For ease of reference, the scenario descriptions were divided into regulatory and nonregulatory action.
o Scenarios:
§ Scenario 1: No change
§ Scenario 2: European transparency benchmark, and new requirement on stock-exchanges
§ Scenario 3: Voluntary European standard for ESG disclosure covering process and KPIs, and new mandatory disclosure requirement on investment funds
§ Scenario 4: Strengthened mandatory principles at EU level, and two sets of internationally recognised KPIs
§ Scenario 5: Principles, KPIs and right-to-know set in EU regulation, and international framework covering process and KPIs
· See also
o Trucost: ESG disclosure rises up agenda in Europe (July 2010 – Newsletter – Issue 1) - … In his role as Trucost's Executive Chairman, Paul Druckman provides insight into the latest developments.
§ ESG disclosure is likely to form an important part of a renewed EU Corporate Social Responsibility strategy, to be adopted in 2010/11.
o News at GRI Global Reporting Initiative: Concluding European Workshop on ESG disclosure takes place – where to go from here? (1 March 2010) >
§ GRI’s Note, based on the submission to the European Commission = Beyond Voluntary Laissez-Faire Reporting: Towards a European ESG Disclosure Framework (.pdf, February 2010, 12 pp.)
§ Background documents: e.g.
· 3. Position papers
· 4. National laws and policy initiatives
· Multi-stakeholder Forum on CSR >
o Plenary meeting 2009 = “CSR Review meeting” CSR Multi-Stakeholder Forum (10 February 2009, Brussels) > e.g.
§ Watch recorded highlights of the CSR Forum meeting
§ CSR policies of EU Member States (2007 publication, DG Employment and Social Affairs) (.pdf has 100 pp.)
§ Review and recommendations from stakeholder organisations:
· European Coalition for Corporate Justice (ECCJ) (.pdf has 5 pp.)
· Friends of the Earth Europe (FoEE) (.pdf has 2 pp.)
· International Federation for Human Rights (FIDH) (.pdf has 4 pp.)
· Research Group for an Alternative Economic Strategy (GRESEA) (.pdf has 2 pp.)
o Plenary meeting 2006 = European Multistakeholder Forum on CSR: Review Meeting (7 December 2006) >
§ Review of recommendations by stakeholders: e.g.
· Review of recommendations by European Commission (.pdf has 65 pp.) = Compendium of actions by European Commission
· (Note: nothing about mandating reporting on environmental / social issues)
· Update on CSR policies of EU Member States (.pdf, 145 pp.) > e.g.
· Denmark
· France
· Portugal
· Sweden
· Reference documents >
o Corporate Social Responsibility (key policy documents)
§ Communication on CSR titled »Implementing the Partnership for Growth and Jobs: Making Europe a pole of excellence on CSR (.pdf, 13 pp.) « (see also at PreLex)
· Published: 22 March 2006
· See also: critical Briefing Paper (22 March 2006) on this Communication by Richard Howitt (MEP, European Parliament Rapporteur on the CSR Green Paper and MEP representative on the European Commission Multi-Stakeholder Forum) & related articles at EurActiv: Open dispute between Commission and NGOs on CSR (23 March 2006), CSR initiative provokes NGO protests (21 March 2006), Friends of the Earth Europe: Commissioner Verheugen hijacks EU process on CSR (13 March 2006)
§ Communication of July 2002
§ Green Paper of July 2001
o Internal Market >
§ Financial Reporting >
· Accounting >
o Directives, Regulations and other official documents > e.g.
§ Directive 2006/46/EC of the European Parliament and of the Council of 14 June 2006
· (10) Companies whose securities are admitted to trading on a regulated market and which have their registered office in the Community should be obliged to disclose an annual corporate governance statement as a specific and clearly identifiable section of the annual report....Furthermore, where relevant, companies may also provide an analysis of environmental and social aspects necessary for an understanding of the company's development, performance and position.
§ Modernisation and updating of accounting rules:
· Directive 2003/51/EC of the European Parliament and of the Council of 18.6.2003 (Accounting Modernisation Directive)
o ...»To the extent necessary for an understanding of the company's development, performance or position, the analysis shall include both financial and, where appropriate, non-financial key performance indicators relevant to the particular business, including information relating to environmental and employee matters;«...
o ...»The review shall be a balanced and comprehensive analysis of the development and performance of the business and of the position of the undertakings included in the consolidation taken as a whole, consistent with the size and complexity of the business. To the extent necessary for an understanding of such development, performance or position, the analysis shall include both financial and, where appropriate, non-financial key performance indicators relevant to the particular business, including information relating to environmental and employee matters.«...
o See also, e.g.:
§ News at CSR Europe: European Commission Work Programme 2010: a strong emphasis on CSR (8 April 2010)
· In the Annex 1 of its Work Programme 2010, entitled "Strategic initiatives scheduled for adoption in 2010", the European Commission highlights the outline of the Communication on CSR it will publish for 2010-2011.
· As said page 20, the Communication … »will address the question of how enterprises disclose environmental, social and governance information.« …
· European Parliament >>
o EMPL Committee on Employment and Social Affairs > e.g.
§ Activities > e.g.
· Adopted reports > e.g.
o Richard Howitt: 21 December 2006
§ Report on corporate social responsibility: a new partnership > e.g.
· CSR Instruments > e.g.
o ... 27. Reiterates Parliament's support for integrated social, environmental and financial reporting by companies backed by regulation, perhaps with a minimum threshold to avoid disproportionate cost for smaller enterprises; calls for in-depth research on implementation of minimum requirements for social and environmental reporting within the 2001 Commission Recommendation on Environmental Disclosure, the 2003 Accounts Modernisation Directive, and the 2003 Prospectus Directive, supporting effective transposition across all Member States, and undertaking consultation on the potential for strengthening these requirements when they are next reviewed, including interpretations of the materiality of social and environmental risk under existing disclosure requirements; ...
· Explanatory Statement > e.g.
o ... To 'depolarize' our own debate on mandatory versus voluntary approaches, the European Parliament should confine itself to repeating our positions of 2002 and 2003 for a single piece of new legislation for integrated social, environmental and financial reporting by companies - at least for larger companies. No more, no less. It is the ultimate "appropriate regulation" simply requiring transparency, so that voluntary, market-based responses are enabled amongst potential company recruits, investors and consumers...
· See also, e.g.:
o Procedure file at Legislative Observatory
o related article at Norwich Union Risk Services: 'Time to test' corporate social responsibility claims (13 March 2007)
o Report on the Communication from the Commission concerning Corporate Social Responsibility: A business contribution to Sustainable Development (28 April 2003; Rapporteur: Philip Bushill-Matthews)
o Report on the Commission Green Paper on Promoting a European framework for Corporate Social Responsibility (30 April 2002; Rapporteur: Richard Howitt)
· Europa > Documents > European law > Summaries of legislation > e.g.
o Environment > e.g.
§ Sustainable Development > Sustainable development instruments >
· Promoting corporate social responsibility
o Internal Market >
§ Company Law > Corporate Accounting
· EurActiv »EurActiv.com is now the leading online media on European Union policies. Launched in 2000.«
o Policy sections >
§ Public Affairs > News >>
· Study calls for more accountability of EU corporations (30 May 2008)
o Relating to a study by ECCJ: Fair Law: Legal Proposals to improve corporate accountability for environmental and human rights abuses (.pdf, May 2008, 33 pp.; Written by: Filip Gregor, GARDE programme of the Environmental Law Service and Hannah Ellis, The Corporate Responsibility (CORE) Coalition) > e.g.
§ Proposal 3: Mandatory Environmental and Social Reporting (pp. 27-33)
§ Social Europe > also