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The WEF annual meeting in Davos includes a strategy session with the WEF International Business Council on mainstreaming ESG (Environmental, Social, and Governance) disclosures.
GRI chief executive Tim Mohin said:
“I welcome the focus by WEF on the transition to more sustainable capitalism, as articulated in the Davos manifesto. Recognition that corporations need to be accountable for their actions is a step in the right direction - but there’s still a long way to go.
The International Business Council’s proposals on ESG metrics rely extensively on the comprehensive disclosures in the GRI Standards. That’s important because impacts that are financially material to businesses themselves, while important, are only half the story. Companies need to consider all their stakeholders – and not only shareholders.
At this gathering of world leaders and influencers we must not shy away from difficult discussions and decisions. Showing leadership and committing to transparency is essential if we are to achieve the progress required to tackle the significant sustainability challenges facing the global community.”