Transcendent, the Spanish consulting firm specializing in Corporate Social Impact, together with its strategic partner, The Impact Management Project (IMP) https://impactmanagementproject.com They have been chosen to announce in Spain a joint initiative recently launched by the five leading international organizations in sustainability reporting systems. This initiative lays the groundwork for what could become a standard framework for corporate sustainability reporting among all of them.
The Big Five, CDP, Climate Disclosure Standards Board (CDSB), Global Reporting Initiative (GRI), International Integrated Reporting Council (IIRC) y Sustainability Accounting Standards Board (SASB) They guide the vast majority of quantitative and qualitative sustainability reports today, and provide the integrated reporting framework that connects sustainability disclosure with financial or other types of reporting.
First steps towards integrated corporate reporting
Through this joint statement, these institutions provide a shared vision of the elements necessary for comprehensive corporate reporting and explain how their frameworks and standards complement the financial accounting regulations, The GAAP (Generally Accepted Accounting Principles), and provide the natural starting point for advancing in this field.
The growing demand for relevant information on sustainability and the impact of companies on society, the economy, and the planet's natural resources, by company stakeholders, particularly responsible investors, consumers, regulators, and governments, requires a common framework and regulations for companies.
The proliferation of initiatives focused on diverse and complex sustainability reports is placing a significant burden on companies, diverting their attention from the activities necessary to achieve the energy transition and generate positive social impact. In fact, there are already nearly 400 reporting initiatives in 64 countries, making comparison and analysis difficult.
Aware of the need to respond to this reality, the Impact Management Project (IMP), the World Economic Forum and the consulting firm Deloitte have promoted this initiative, facilitating the meeting between these leading entities in the sector and expressly supporting its initial conclusions.
Added to all this are three other milestones that foreshadow what the decade we have just begun will be like and that demonstrate that we are facing a new, more conscious and responsible capitalism: The launch of the European Sustainable Investment Plan that will enable the new European Green Deal; the letter from Larry Fink, CEO of BlackRock, the world's leading asset manager; and a new global risk report from the World Economic Forum.
Fountain: Corresponsables.com
