The International Finance Corporation (IFC)
and the Global Reporting Initiative (GRI) have launched a
publication that aims to make it easier and more profitable for
companies in emerging markets to adopt sustainability
reporting.
Getting More Value out of Sustainability
Reporting links the GRI’s Framework for Sustainability
Reporting and the IFC’s Sustainability Framework, which includes
environmental and social performance standards for private sector
investment.
The organisations said the publication is a
draft and they hope to gather feedback from companies and
stakeholders.
GRI chief executive Ernst Ligteringen said
sustainability reporting is important for companies in emerging
markets, where credibility, transparency, and the trust of
stakeholders are “so crucial to business success”.
IFC vice president for business advisory
services Rachel Kyte added that good reporting is linked to
corporate strategy.
“Deciding how to report and what to report
helps focus a company’s efforts and resources on tackling the most
important sustainability issues affecting its business,” Kyte
said.
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