Global standard-setters to develop new SDG reporting guidelines

4th March 2019


1web sdg istock 535813258

Related Topics

Related tags

  • Business & Industry ,
  • Corporate Social Responsibility ,
  • Reporting ,
  • sea ice loss ,
  • Global ,
  • Sustainable Development Goals

Author

IEMA

A group of international standard-setters has announced plans to develop improved reporting guidelines for the UN's Sustainable Development Goals (SDGs).

In a paper published last week, participants of the Corporate Reporting Dialogue said they would strive to help businesses better understand the link between the SDGs and financial performance.

By identifying which goals are most relevant to a company's business model, the group hopes to ensure decision-making that promotes financial stability and sustainable development.

The paper sets out how members of the Corporate Reporting Dialogue will work together to provide frameworks and guidance that cover each of the 169 SDG targets.

The Climate Disclosure Standards Board, the Global Reporting Initiative, the International Integrated Reporting Council, the International Organization for Standardization, the Sustainability Accounting Standards Board, and CDP are all signed up.

“We will strive with our further co-operation to enable effective and efficient capital allocation for the benefit of companies, investors, and society,“ the paper states.

“This includes providing frameworks that measure progress toward achieving the SDGs, and providing frameworks that enable a better understanding of the link between the SDGs and company financial performance and risk.“

The paper also articulates the importance of driving integration of financial and non-financial information to demonstrate how companies create value for stakeholders over the short and long-term.

This comes after the Corporate Reporting Dialogue last November announced a two-year project to better align corporate reporting and improve sustainable business practices.

Members will map their sustainability standards and frameworks to identify commonalities and differences, and jointly refine and improve them while taking into account different focuses, audiences and governance procedures.

Ian Mackintosh, chair of the Corporate Reporting Dialogue, said that the current system is not working as harmoniously as possible, resulting in “disjointed definitions with unclear aims“.

“There is a renewed urgency to drive better alignment that can combat reporting fatigue, reduce burden and enable more effective corporate reporting,“ he added.

Image credit: iStock

Subscribe

Subscribe to IEMA's newsletters to receive timely articles, expert opinions, event announcements, and much more, directly in your inbox.


Transform articles

How much is too much?

While there is no silver bullet for tackling climate change and social injustice, there is one controversial solution: the abolition of the super-rich. Chris Seekings explains more

4th April 2024

Read more

One of the world’s most influential management thinkers, Andrew Winston sees many reasons for hope as pessimism looms large in sustainability. Huw Morris reports

4th April 2024

Read more

Alex Veitch from the British Chambers of Commerce and IEMA’s Ben Goodwin discuss with Chris Seekings how to unlock the potential of UK businesses

4th April 2024

Read more

Regulatory gaps between the EU and UK are beginning to appear, warns Neil Howe in this edition’s environmental legislation round-up

4th April 2024

Read more

Five of the latest books on the environment and sustainability

3rd April 2024

Read more

Ben Goodwin reflects on policy, practice and advocacy over the past year

2nd April 2024

Read more

In 2020, IEMA and the Institute and Faculty of Actuaries (IFoA) jointly wrote and published A User Guide to Climate-Related Financial Disclosures. This has now been updated to include three key developments in the field.

2nd April 2024

Read more

Hello and welcome to another edition of Transform. I hope that you’ve had a good and productive few months so far.

28th March 2024

Read more

Media enquires

Looking for an expert to speak at an event or comment on an item in the news?

Find an expert

IEMA Cookie Notice

Clicking the ‘Accept all’ button means you are accepting analytics and third-party cookies. Our website uses necessary cookies which are required in order to make our website work. In addition to these, we use analytics and third-party cookies to optimise site functionality and give you the best possible experience. To control which cookies are set, click ‘Settings’. To learn more about cookies, how we use them on our website and how to change your cookie settings please view our cookie policy.

Manage cookie settings

Our use of cookies

You can learn more detailed information in our cookie policy.

Some cookies are essential, but non-essential cookies help us to improve the experience on our site by providing insights into how the site is being used. To maintain privacy management, this relies on cookie identifiers. Resetting or deleting your browser cookies will reset these preferences.

Essential cookies

These are cookies that are required for the operation of our website. They include, for example, cookies that enable you to log into secure areas of our website.

Analytics cookies

These cookies allow us to recognise and count the number of visitors to our website and to see how visitors move around our website when they are using it. This helps us to improve the way our website works.

Advertising cookies

These cookies allow us to tailor advertising to you based on your interests. If you do not accept these cookies, you will still see adverts, but these will be more generic.

Save and close