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According to the 2023 Carrots & Sticks report, this global trend is part of a wider proliferation of ESG policies around the world, which includes steady growth in the use of the GRI Standards.
Carrots & Sticks (C&S) has been delivered by GRI and the Stellenbosch University Business School, initially with support from the UN Environment Program. For 2023, the initiative saw the addition of two new partners: King’s College London and the University of Edinburgh. The Carrots & Sticks database now analyzes over 2,400 policies from 132 countries.
C&S 2023 tracks a four-fold increase in the number of sustainability policies since 2020, with the continued shift towards more responsible global governance going hand-in-hand with the rise in corporate disclosure and reporting policies for businesses.
Disclosure policies are the most compelling instruments to drive change in corporate behavior. That is why we call on policymakers to adopt effective policies and regulatory frameworks that support the alignment of private sector disclosures with sustainable development. And as the 2023 Carrots & Sticks report reveals, there has been a proliferation of new ESG and sustainability related policies.”
Peter Paul van de Wijs – Chief Policy Officer, GRI