A report from Norges Bank Investment Management has called for businesses to improve metrics to ensure they disclose ‘relevant, quantitative and comparable information on environmental, social and governance (ESG) issues’.
Norges also set out that ESG reporting should ‘use established standards, starting with disclosures based on the GRI Standards’.
GRI Chief Executive Tim Mohin said:
“Disclosures based on the GRI Standards offer data that help investors, companies and other stakeholders to make informed decisions. This report from Norges Investment Management reinforces the importance of comprehensive ESG disclosures for investors.
We commend Norges’ call for companies to disclose both direct and indirect carbon emissions. Climate change is a global emergency and, for most companies, the majority of their carbon emissions are indirect. Companies must measure, disclose and manage these impacts if we are to tackle the climate crisis.
For more than 20 years, GRI has enabled reporting on impacts that are material to the environment and society. Focusing solely on the financial implications of the reporting company will not further sustainable development nor will it ultimately serve the long-term interests of investors.”
Full press release on GRI
Full report "Responsible investment 2019" on Norges Bank Investment Management
© GRI - Global Reporting Initiative
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