Reliance Industries and Mahindra Group on Tuesday joined more than 50 global giants in committing to core stakeholder capitalism metrics a set of environmental, social, and governance (ESG) parameters and disclosures prepared by the World Economic Forum.
The global giants who have made this commitment include Accenture, Bank of America, Credit Suisse, Dell Technologies, Deloitte, EY, HEINEKEN, HP, HSBC Holdings, IBM, JLL, KPMG, Mastercard, McKinsey, Nestle, PayPal, PwC, Royal Dutch Shell, Royal Philips, Salesforce, Schneider Electric, Siemens, Sony, Total, UBS, Unilever, Yara International, and Zurich Insurance Group.
Announcing the details during its online Davos Agenda Summit, the WEF said a total of 61 business leaders have so far committed to the core Stakeholder Capitalism Metrics, which offer a core set of 31 universal, comparable disclosures focused on people, planet, prosperity, and governance that companies can report on, regardless of industry or region.
The move signals that private sector leaders view environmental, social, and governance factors as critical to the success and long-term viability of all businesses, and a unified voice is gathering pace on a global solution for non-financial reporting, the WEF said.
The metrics are aimed at strengthening the ability of companies and investors to benchmark progress on sustainability matters, thereby improving decision-making and enhancing transparency and accountability regarding the shared and sustainable value companies create.
The business leaders and their organizations have committed to “reflect the core metrics in their reporting to investors and other stakeholders (such as an annual report, sustainability report, proxy statements, or other materials) by reporting on the metrics most relevant to their business or briefly explaining why a different approach is more appropriate”.
RIL, Mahindra Join Global Giants in Committing to Stakeholder Capitalism Metrics
