Why is it important to increase positive sustainability change?

Only 1 in 10 businesses globally are taking sustainability action beyond compliance. This is especially important at our time with 7 billion people simultaneously on earth, more that many centuries combined. A culture of sustainability is needed with more businesses knowing their impacts on the environment, society and economy so as to take action to minimise negative impacts and increase positive ones.

Not having a culture of sustainability is the root of all the issues we are facing (for example climate change). Each and every business and professional must use any leverage they have to increase positive change.

GRI Standards (since 1997)

The GRI Standards are the gold standard when it comes to sustainability reporting. 80% of the world’s largest 250 companies report in accordance with the GRI Standards. They are the world’s most complete set of standards which can address all Sustainable Development Goals (SDGs). Α mechanism is also in place to address any impacts that cannot reasonably be connected to the 34 topics, empowering businesses to take solid sustainability action. Furthermore, Under the terms of a Memorandum of Understanding signed in 2010, the UN Global Compact adopts the GRI Standards as the recommended sustainability reporting framework for companies to communicate on progress made.

Claiming to be in accordance with the GRI Standards

To claim that a sustainability report is in accordance with the GRI Standards certain GRI requirements must be met. Basically, these can be viewed as two sets of questions which require specific answers/information so you can claim to be in accordance with the GRI Standards. A first set of questions is about the company (GRI 102: General Disclosures). The second set of questions is about the actions a company is taking to address its most important impacts (material topics). Material topics are defined through a process called materiality, which typically involves a workshop conducted with internal stakeholders, and through stakeholder engagement.

78% of the world’s 250 largest companies report in accordance with the GRI Standards

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Bringing together stakeholders from various sectors across the economy, this initiative seeks to set innovation at the forefront of sustainable development in corporations and destinations.

Joint effort

The worldwide COVID-19 outbreak jeopardises all of the progress achieved so far, in terms of sustainability.

Against this backdrop of increased uncertainty, tourism’s proven resiliency and dynamic nature can be used  to support recovery. Given the sector’s ability to create jobs and enhance inclusiveness, UNWTO calls for a transversal, cross-sector approach to boost sustainable development all over the world.  Tweet This!

Format

Target startups: 

Startups from all over the globe and all economic sectors can participate if they meet the following criteria:

• Be innovative in nature providing value-added solutions
• Be sustainability-driven
• Be scalable: to have potential for international growth and potential to be applied in corporations and destinations (countries, regions)
• Be an Early Stage or Series A startup
• Have a tested pilot and business plan
• Have been accelerated before
• Have a full-time team

All ways of innovation are welcome: new methods, processes, and technologies, among others.

Categories: 

This Competition includes 17 categories, each one representing a Sustainable Development Goal.

Each participating startup should select the SDG in which they can generate the greatest impact.

Evaluation criteria: 

Participating startups are to be assessed according to their:

• Contribution to the Sustainable Development Goals
• Ease of value capture via collaboration with the startup
• Potential business impact
• Maturity of the product/technology
• Maturity of the team and the organization
• Partnership readiness

Benefits: 

Benefits for winning startups include, among others:

• Pitch at a UNWTO Demo Day
• Curated mentorship programme including one-on-one and in-group sessions focused on Intellectual Property (IP), sustainability, business and leadership
• Access to technological support
• Connection to the UNWTO Innovation Network
• Potential pilot project with private sector collaborators and institutions

Download Slides about the Competition

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

FBRH GRI Standards Certified & ISEP recognised Sustainability Course | Venue: London LSE

By registering for the next 2-day FBRH GRI Standards Certified & ISEP recognised course you will be taking the first step in gaining the many benefits of sustainability reporting.

Most importantly, you will gain the knowledge to use the GRI Standards, project manage your own first-class sustainability report and:

• Identify your most important impacts on the Environment, Economy and Society
• Begin taking solid, focused, all-round sustainability action ASAP

References:

This article is based on published information by UNWTO. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the publication’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.unwto.org/unwto-sustainable-development-goals-global-startup-competition

The post WTO Launch Global Competition for Sustainable Development Goals appeared first on SustainCase - Sustainability Magazine.

According to a new report by the IPBES (Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services), compiled by 145 expert authors from 50 countries during the past three years, nature is declining, globally, at rates unprecedented in human history and the rate of species extinctions is accelerating, too.

The issue

The Report found that, as a result of human activity, one million animal and plant species are now threatened with extinction  Tweet This!, many within decades, more than ever before in human history. Key findings – among many – include the following:

• Since 1980, greenhouse gas emissions have doubled globally, raising average global temperatures by at least 0.7 degrees Celsius.
• Three-quarters of the land-based environment and around 66% of the marine environment have been significantly altered by human activities.
• Plastic pollution has increased tenfold since 1980, while global per capita consumption of materials increased by 15%.
• One in four species are threatened with extinction across terrestrial, freshwater and marine vertebrate, invertebrate and plant groups studied.
• Since 1970, there has been a 300% increase in food crop production.
• 33% of fish stocks were harvested at unsustainable levels in 2015.
• Since 1900, there has been a 16-21 cm rise in global average sea level.

Action: What companies and organisations can do – being aware of impacts is the first step

The Report stresses that “transformative changes” are needed to restore and protect nature, “such as innovative policies by many countries, local authorities and businesses”. Accordingly, companies and organisations can take action and accelerate positive change to protect biodiversity, with the use of the GRI Standards. The GRI Standards are, today, the chosen framework for CSR/ ESG/ SDG/ Sustainability reporting: 80% of the world’s 250 largest companies, report according to the GRI Standards.

Does your company/organisation have a biodiversity strategy?

More specifically, companies can use GRI 304: Biodiversity, and report, responsibly and openly, on potential impacts of operations, products and services on biodiversity, habitats protected or restored, and a range of related disclosures. To describe in their reports their strategy for achieving its policy on biodiversity management. A biodiversity strategy can contain a combination of elements related to the prevention, management, and remediation of damage to natural habitats resulting from the organization’s activities. An example of this is the integration of biodiversity considerations into analytical tools, such as environmental site impact assessments.

Most importantly, by using GRI 304: Biodiversity to provide information on the environmental footprint of their activities regarding biodiversity, organisations and companies will also be addressing the following UN Sustainable Development Goals (SDGs):

• SDG 6: Ensure availability and sustainable management of water and sanitation for all
• SDG 14: Conserve and sustainably use the oceans, seas and marine resources for sustainable development
• SDG 15: Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss

Action: What we can do individually

What does this all mean for the person in the street?

You can take action as an individual: contact organisations and companies through the social media, by email, or by any other means available, and ask what real action they are taking to tackle biodiversity loss and if they have a biodiversity strategy. You can, additionally, ask corporations if they use the GRI Standards to report on their negative and positive impacts and what SDGs they address, through their actions.

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

FBRH GRI Standards Certified and ISEP approved Sustainability Course | Venue: London LSE

By registering for the next 2-day FBRH GRI-Standards Certified and ISEP approved Course you will be taking the first step in gaining the many benefits of sustainability reporting.

References:

This article is based on published information by the UN. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the publication’s meaning. If you would like to quote these written sources from the original please revert to the following links:

https://www.un.org/sustainabledevelopment/blog/2019/05/nature-decline-unprecedented-report/

https://www.bbc.com/news/science-environment-48169783

The post Impacts by human activity threaten 1m species with extinction appeared first on SustainCase - Sustainability Magazine.

Promoting effective water management

Responding to the global water crisis and the 2030 Agenda for Sustainable Development, GRI engaged with leading water stewardship experts to develop a standard that will help companies better understand and manage their water impacts.  Tweet This!

“The lack of access to freshwater affects more than 40% of the global population. In a world where some companies’ GDPs exceed that of whole countries, the business world is expected to rise to the challenge and do its part in addressing these. The aim of the revised water standard is to help companies report what matters, and where it matters, by using credible, context-based metrics,” said Bastian Buck, Chief of Standards at GRI.

The updated standard, GRI 303: Water and Effluents 2018, requires companies to report on water impacts in their value chain, emphasising water stewardship and urging companies to actively manage impacts in the watersheds in which they operate. The standard is, among others, based on the Sustainable Development Goals (SDGs) and, more specifically, Goal 6: “Ensure availability and sustainable management of water and sanitation for all”.

The revised standard puts emphasis on collecting information on water use (e.g. withdrawal, consumption and discharge) and related impacts, including how these are dealt with across the value chain. In addition, companies should report how they manage water as a shared resource and, also, how they manage their impacts locally.

A modular approach

After releasing the GRI Standards in 2016, the standard on water and effluents is the first to be updated by GRI. The modular structure of the GRI Standards allows the Global Sustainability Standards Board (GSSB) to frequently update individual standards, on the basis of the urgency and demand from the field.

The project working group for GRI 303: Water and Effluents 2018 included, among others, representatives from leading water stewardship organisations (for example, the World Resources Institute, the WWF and the Pacific Institute) and members of the mining, beverage and textile industries.

“As the most used sustainability reporting framework, we see it as our responsibility to create credible and robust standards so that companies can measure and report their impacts on the people and society in a meaningful way. This information feeds into internal processes and informs decision-making – accelerating action towards sustainable development,” concluded Mr. Buck.

GRI will present the new standard and answer questions from attendees in two live webinars on 19 September.

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

FBRH GRI Standards Certified and ISEP approved Sustainability Course | Venue: London LSE

By registering for the next 2-day FBRH GRI-Standards Certified and ISEP approved Course you will be taking the first step in gaining the many benefits of sustainability reporting.

References:

This article is based on published information by GRI. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the publication’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.globalreporting.org/information/news-and-press-center/Pages/World-Water-Week-Companies-must-look-beyond-own-operations-to-enhance-water-stewardship.aspx

The post Updated GRI Standard on water and effluents: Companies should report impacts across their value chains appeared first on SustainCase - Sustainability Magazine.

Key facts:

• Average global temperature increased, from 1880 to 2012, by 0.85°C.
• The global average sea level rose, from 1901 to 2010, by 19 cm.
• Given today’s greenhouse gas emissions, by the end of the current century the increase in global temperature will possibly exceed 1.5°C.
• Since 1990, global CO2 emissions have increased by nearly 50%. 

Urgent action must be taken globally to fight climate change and its impacts, including the following:

• increase the use of renewable energy sources
• help developing countries move to a low-carbon economy
• support behavioural, institutional and technological changes
• implement the Paris Agreement and limit global temperature rise to well below 2 degrees Celsius

SustainCase Clean Air Campaign

At SustainCase we have initiated a Clean Air Campaign. Find out how you can #TakePositiveAction and #BePostitiveChange at this link.

References:

This article is based on published information by the UN. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the publication’s meaning. If you would like to quote these written sources from the original please revert to the following link:

http://www.un.org/sustainabledevelopment/climate-change-2/

The post Take urgent action to combat climate change and its impacts: United Nations Sustainable Development Goal (SDG) 13 appeared first on SustainCase - Sustainability Magazine.

GRI and PRI collaborate for action on the SDGs  Tweet This!

The Global Reporting Initiative (GRI), the world’s leading provider of sustainability reporting standards, and Principles for Responsible Investment (PRI), the world’s most important responsible investment initiative,  joined forces to promote responsible investment and business action on the SDGs.

The collaboration between the two organizations, at both a strategic and technical level, is aimed to:

• support GRI’s and PRI’s efforts to align sustainability reporting by businesses with investor expectations, mobilizing capital flows in the direction of sustainable business solutions
• promote projects that support the widespread adoption of sustainability reporting, and
• support reporting on the United Nations Sustainable Development Goals (SDGs) by both businesses and investors

As SDGs will need a $5-7 trillion annual investment, the mobilization of mainstream capital is highly important, with corporations reporting according to the GRI Sustainability Reporting Standards and investors who have signed up to PRI’s six principles representing a significant segment of global capital flows.

According to Tim Mohin, GRI’s Chief Executive, actual progress will only be achieved by aligning “capital investment with sustainable business practices”, ensuring that “sustainability disclosures are decision-useful for all stakeholders, including investors”.

About PRI

• Supported by the United Nations, PRI is the leading global advocate of responsible investment, striving to assist its global network of investor signatories with integrating environmental, social and governance (ESG) issues into investment decisions.
• PRI has introduced, in order to promote the incorporation of ESG considerations into investment practices, six voluntary Principles for Responsible Investment, with over 1,750 signatories from more than 50 countries, representing around US$70 trillion.

About GRI

Having pioneered sustainability reporting since the late 1990s, GRI provides the world’s most widely used standards for sustainability reporting, striving to empower decision makers everywhere – businesses, governments, civil society and citizens –  to take action towards a more sustainable economy and world.

Key facts

• 80% of the world’s 250 largest companies issue Corporate Social Responsibility (CSR) reports using GRI’s Sustainability Reporting Standards
• Under the terms of a Memorandum of Understanding signed in 2010, the UN Global Compact adopts the GRI sustainability reporting guidelines as the recommended reporting framework for companies to communicate on progress made
• GRI’s Certified Training Courses are offered by 89 training partners in 54 countries

References:

This article was compiled using information at the links below. For the sake of readability, we did not use brackets or ellipses but made sure that the extra or missing words did not change the publication’s meaning. If you would like to quote these written sources from the original please revert to the links below:

https://www.globalreporting.org/information/news-and-press-center/Pages/GRI%E2%80%99s-collaboration-with-PRI-boosts-responsible-investment-and-action-towards-the-SDGs.aspx?dm_i=1VZV,57X81,C5W579,K373O,1

https://www.unpri.org/about

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The Global Reporting Initiative (GRI) and the United Nations Global Compact, supported by the Principles for Responsible Investment (PRI), have joined forces and have launched the ‘Business Reporting on the SDGs’ initiative, to promote business reporting on the United Nations 17 Sustainable Development Goals (SDGs).

The best practice challenge

While active involvement by businesses is key to achieving the SDGs, best practice regarding corporate reporting on the SDGs remains to be identified. GRI and the UN Global Compact introduced an innovative action platform to deal with this challenge: Business Reporting on the SDGs is intended to supplement the GRI Standards and the UN Global Compact Communication on Progress, making the most of the UN Global Compact’s Ten Principles and the GRI Standards.

How does it work?

Business Reporting on the SDGs will support businesses in integrating SDG reporting into their existing procedures, to bring about targeted corporate action on the SDGs. The new action platform will provide a mechanism to corporations for reporting on the SDGs within the UN Global Compact Communication on Progress and GRI Standards, offering advice on how to align the two reporting frameworks and, also, on how to extract SDG implementation data from a large number of business reports. It consists of:

• the Corporate Action Group (CAG), a business engagement and peer learning forum, enabling company representatives to engage in finding and promoting ways to contribute to the SDGs

• the Multi-stakeholder Advisory Committee (MAC), made up of the members of the CAG and representatives from various stakeholder groups (such as investors, academics, governments, civil society organizations), guiding the UN Global Compact’s and GRI’s research and analysis

Join the next GRI Certified and ISEP approved two-day course and learn how to take solid, focused action (materiality) to address the Sustainable Development Goals (SDGs) and minimise your company’s environmental, economic & social impacts by employing the world’s most widely used standards.

Key facts

• Under the terms of a Memorandum of Understanding signed in 2010, the UN Global Compact adopts the GRI Standards as the recommended reporting framework for companies to communicate on progress made.
• 80% of the world’s 250 largest companies issue Corporate Social Responsibility (CSR) reports using GRI’s Sustainability Reporting Standards

References:

This article was compiled using a publication by GRI. For the sake of readability, we did not use brackets or ellipses but made sure that the extra or missing words did not change the publication’s meaning. If you would like to quote these written sources from the original please revert to the link below:

https://www.globalreporting.org/information/SDGs/Pages/Reporting-on-the-SDGs.aspx

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Tim Mohin, GRI’s new Chief Executive

In December 2016 Tim Mohin, a well-known sustainability practitioner, advocate and author, was appointed as GRI’s new Chief Executive. Mr. Mohin has tremendous experience with global sustainability, from his years with leading companies and governments. The SustainCase Editor, Simon Pitsillides, interviewed Mr. Mohin on the key challenges facing sustainability today and the opportunities presented by his new role.

Simon Pitsillides: What are the challenges and opportunities presented by your new role as GRI’s Chief Executive?

Tim Mohin: I’ve seen, firsthand, how sustainability reporting can change the way a company does business and create positive impacts  Tweet This! for a company’s employees, customers and other stakeholders. I became GRI’s Chief Executive because I truly believe in the transformational power of transparency. I’m focused on figuring out ways to help organizations and their stakeholders get even more out of their investments in sustainability reporting. Thousands of companies all around the world produce sustainability reports, which is a positive development over the past 20 years. But we have not seen change at the scale we need, in order to achieve our end goal: sustainable development. We need companies to dig deeper and discover the additional actions needed to accelerate change. Helping with this process is our biggest challenge at GRI, but also a tremendous opportunity to play a role in creating a better world.

Pitsillides: How will GRI progress under your leadership in getting more SMEs to report in accordance with the GRI Standards?

The Global Reporting Initiative’s Headquarters in Amsterdam

Mohin: It is difficult to overstate the importance of SME-reporting. Around 90% of global economic activity is the result of small and medium enterprises, so we know we cannot achieve our goal of sustainable development without them. Many SMEs lack the resources to produce a full-blown annual sustainability report like large corporations. As a result, most SMEs have refrained from reporting and currently about 10% of the sustainability reports in the GRI Sustainability Disclosure Database are from SMEs. One of the main reasons for this low uptake is that management at most SMEs fails to see the business case for sustainability reporting. Instead, they see reporting as a compliance requirement, rather than a strategic business practice that can directly benefit their companies.

This is why in 2016, together with the Swiss State Secretariat for Economic Affairs, GRI launched the second phase of the program “Corporate Sustainability and Reporting for Competitive Business”. The program aims to help SMEs, based in six developing countries, across three continents (Colombia, Ghana, Indonesia, Peru, South Africa and Vietnam), use sustainability reporting to gain better access to global value chains. Through this program, GRI will develop and pilot a new adaptation of the GRI Standards tailored for SMEs. The goal is to assist them in efficiently using GRI Standards and disclosing their sector specific impacts. After the pilot phase of the program has been successfully conducted in the six aforementioned countries, the SME adaptation of GRI Standards can be made available for wider adoption.

Additionally, the new GRI Standards already give organizations the flexibility to choose to disclose information that is most relevant to them without producing an entire sustainability report. This innovation in reporting lowers the barrier for new reporters but still produces meaningful results. I hope this will spur on much more reporting amongst SMEs.

 

More and more providers of capital are asking tough questions of companies these days. Lending institutions and investors increasingly consider sustainability performance when evaluating companies.

 

 

Pitsillides: Can you provide information on how the EU Directive 2014/95/EU has impacted sustainability reporting and, more specifically, reporting in accordance to the GRI Standards?

Mohin: It is a bit premature to speak about the impact of the EU Directive on Non-financial reporting, as the transposition of the directive into national legislation is still happening. We do know that a large number of companies will start to report as a result of the directive. This will significantly increase transparency across Europe. This is a welcome change since it will give these companies and their stakeholders the information they need to inform decisions that can contribute to sustainable development.

Companies that are subject to the directive can use the GRI Standards to fulfill their reporting requirement. GRI’s Global Sustainability Standards Board developed GRI Standards based on input from a truly diverse set of stakeholders including labor groups, business associations, civil society organizations, and investors. As a result, any organization, in any sector of the economy, anywhere in the world, can use GRI Standards to increase transparency and communicate with all of their stakeholders.

 

Pitsillides: Why the transition from G4 Guidelines to GRI Standards? What does this transition mean, in terms of changes, for businesses and organizations?

Mohin: For organizations that have already adopted G4, the changes are minor. The GRI Standards are built on the G4 Guidelines, which have been restructured into a set of modular, interrelated reporting standards. The GRI Standards include all the concepts and disclosures from G4, in an improved structure and with clearer requirements. The content is organized in a more straightforward way, with less repetition. No new topics have been added to GRI Standards. Throughout the transition from G4 to GRI Standards, care has been taken to preserve the focus on materiality, and to minimize changes to the G4 disclosures and their methodologies.

 

A company’s high performance standards and reputation are intangibles that help to attract and motivate employees.

.

Also read:

Laying the foundation for good communication with responsible CSR/ sustainability reporting

The Value of CSR Reporting

Corporate Social Responsibility (CSR) and the European Union: Directive 2014/95/EU

Research by well-recognized institutions is clearly proving that responsible companies can look to the future with optimism

The post An exclusive interview with Tim Mohin, GRI’s new Chief Executive appeared first on SustainCase - Sustainability Magazine.

The “Better Business, Better World” report by the Business and Sustainable Development Commission (BSDC) presents a sustainable business model, focused on the 17 UN Sustainable Development Goals, that, if embraced by businesses across the globe, will prove immensely beneficial environmentally, socially and businesswise.

“At a time when our economic model is pushing the limits of our planetary boundaries and condemning many to a future without hope, the Sustainable Development Goals offer us a way out.” (Paul Polman, CEO of Unilever, and a commissioner.)

According to the “Better Business, Better World” report by the Business and Sustainable Development Commission (BSDC) sustainable business practices – with the UN Sustainable Development Goals, or Global Goals, as a point of reference – will, in the near future, create, for corporations, tremendous market opportunities in four economic systems.

These four economic systems are:

• food and agriculture
• cities
• energy and materials
• health and well-being

As the report stresses, the transition, by businesses globally, to a sustainable growth model will not be effortless or uneventful. Quite the contrary, it will be “disruptive, with big risks as well as opportunities at stake”. But very rewarding, too, as “businesses adopting this plan will transform their own prospects and could outperform those stuck in yesterday’s economic game: this is about return on capital, not just responsibility”.

Key points of the “Better Business, Better World” report by the BSDC include:

• “First movers” (companies that already act in accordance with the Global Goals) will enjoy a 5 to 15 year advantage

• Achieving the Global Goals will create, for businesses, opportunities worth US$12 trillion by 2030  Tweet This!, with more than 50% of these opportunities located in developing countries

• 15 of 60 market “hot spots” in the four economic systems identified by the BSDC account for 50% of this economic “prize”

• 380 million new jobs could be created by 2030, by achieving the Global Goals in these four economic systems – 90% of which in developing countries

• Progress on all Global Goals must be achieved for all the benefits to materialize

• Sustainability is profitable: attracting employees, investors and customers, creating, through innovation, new business opportunities, achieving cost savings and better financial performance are just some of the benefits enjoyed by sustainable businesses

• A number of innovative companies are already benefiting from the opportunities opened up by the Global Goals

Identify > Measure > Manage > Change, using the world’s gold standard for sustainability reporting to achieve your goals

GRI is a non-profit organization working in the public interest towards a vision of a sustainable global economy. GRI supports and guides businesses, governments and other organizations in perceiving, understanding and communicating the impact of business on major, critical sustainability issues. Issues such as climate change, human rights, corruption and many others.

The goal of GRI and sustainability reporting is to promote change towards a sustainable economy by helping organizations to set goals, measure performance, and manage change.

Key facts:

• Over 80% of the world’s largest 250 corporations issue Corporate Social Responsibility (CSR) reports using GRI’s Sustainability Reporting Standards
• GRI has global strategic partnerships with the Organization for Economic Co-operation and Development, the United Nations Environment Programme and the United Nations Global Compact, with its framework enjoying synergies with the guidance of the International Finance Corporation, the International Organization for Standardization’s ISO 26000, the United Nations Conference on Trade and Development and the Earth Charter Initiative
• GRI is focused on taking action on what matters where it matters: companies identify their impacts on the environment and stakeholders, measure, set targets, take action to minimize their negative impacts and increase their positive impacts, report the outcomes in their CSR report
• Under the terms of a Memorandum of Understanding signed in 2010 the UN Global Compact adopts the GRI Guidelines as the recommended reporting framework for companies to communicate on progress made
• 17 Sustainable Development Goals: The guide “SDG Compass – The guide for business action on the SDGs”, jointly developed by GRI, the UN Global Compact and the WBCSD, details how companies can take action to solve our world’s most pressing problems.

Learn how Today’s Best-Run Companies are achieving Economic, Social and Environmental Success and How You Can Too, [CBC show=”y” country=”cy, gr, tr, il, eg, lb”] by joining the next 2-day FBRH GRI Certified Training Course [/CBC].
[CBC show=”n” country=”cy, gr, tr, il, eg, lb”] by joining the next 2-day FBRH GRI Certified Training Course [/CBC].

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

FBRH GRI Standards Certified and ISEP approved Sustainability Course | Venue: London LSE

By registering for the next 2-day FBRH GRI-Standards Certified and ISEP approved Course you will be taking the first step in gaining the many benefits of sustainability reporting.

References:

This article was compiled using a report by the Business and Sustainable Development Commission. For the sake of readability, we did not use brackets or ellipses but made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the links below:

http://138.197.42.254/uploads/BetterBiz-BetterWorld.pdf

http://businesscommission.org/news/release-sustainable-business-can-unlock-at-least-us-12-trillion-in-new-market-value-and-repair-economic-system

The post BSDC: Achieving the UN Sustainable Development Goals will create, for businesses, opportunities worth US$12 trillion appeared first on SustainCase - Sustainability Magazine.

The UK-Cyprus Enterprise Council, in association with RCB Bank and PGD Strategy Ltd presented in London, at the Connaught Hotel in Mayfair, on the 26 January 2017, the seminar “Cyprus Banking and the financial services sector”.

Our editor Simon Pitsillides addressed the event, speaking on “CSR: Building trust with key stakeholders in the banking and financial services sector”, as stakeholder engagement is one of the main pillars of CSR/ sustainability reporting in accordance with the Global Reporting Initiative (GRI) Guidelines.

A key question every company should ask is: Which stakeholders can hold your company back or stop it from reaching its objectives?  Tweet This!

This is followed by action: identifying your company’s most important impacts on these key stakeholders (e.g. clients, suppliers, shareholders, local communities, NGOs or local government), stakeholder engagement and the process of measuring, managing and changing. Such a structured, methodical approach has many benefits:

1) The interests of your key stakeholders are aligned with the objectives of your company, by taking continuous action to remove possible obstacles to successful outcomes.

2) Through engagement and with action to address your stakeholders’ reasonable concerns and interests, trust is built with your key stakeholder groups. A solid foundation is provided for your company to succeed in the long-term by building and maintaining a favourable reputation and relationships with key stakeholders.

3) A solid foundation, for good communication with responsible CSR, is created.

Good communication is evermore important in the digital age we live in. Information is instantly and freely accessible throughout the globe and this applies to companies, too: people are able to instantly access information about your company’s policies, the impact of its activity, its reputation, with or without your consent. Whether you are aware of it or not, conversations could be taking place about your company and people take action and make choices based on what information they have available. Research by well-recognized institutions is clearly showing that responsible companies can look to the future with optimism. A CSR/Sustainability report done responsibly proves and communicates your company’s positive contribution to our world.

Other speakers at the seminar included:

• Peter Droussiotis, Chairman, UK-Cyprus Enterprise Council and Chairman, PGD Strategy Ltd
• HE Euripides Evriviades, Cyprus High Commissioner to the United Kingdom
• lgor lshchenko, Head of RCB London
• Sir Christopher Pissarides, Nobel Laureate in Economics and Regius Professor of Economics, London School of Economics
• Dmitry Chudakov, Senior Vice President, Head of Domestic Business, RCB Bank Ltd

Key facts about the Global Reporting Initiative:

• Over 80% of the world’s largest 250 corporations issue Corporate Social Responsibility (CSR) reports using GRI’s Sustainability Reporting Standards
• GRI has global strategic partnerships with the Organization for Economic Co-operation and Development, the United Nations Environment Programme and the United Nations Global Compact, with its Standards enjoying synergies with the guidance of the International Finance Corporation, the International Organization for Standardization’s ISO 26000, the United Nations Conference on Trade and Development and the Earth Charter Initiative
• GRI is focused on taking action on what matters where it matters: companies identify their impacts on the environment and stakeholders, measure, set targets, take action to minimize their negative impacts and increase their positive impacts, report the outcomes in their CSR report
• Under the terms of a Memorandum of Understanding signed in 2010 the UN Global Compact adopts the GRI Standards as the recommended reporting framework for companies to communicate on progress made
• GRI provides its well-recognized Standards to address the 17 Sustainable Development Goals set out by the UN. The guide “SDG Compass – The guide for business action on the SDGs”, developed by GRI, the UN Global Compact and the WBCSD, details how companies can take action to solve our world’s most pressing problems.

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