Article 9.

Adopt Common Metrics & Standards

An increasing number of corporations are adopting ESG (Environmental, Social, Governance) methodologies and highlighting their SDG-aligned investments (UN Sustainable Development Goals). However, it is time to move to unified metrics, global standards and mandatory disclosure.

There is a movement toward convergence of existing global standards among the standards setters and that is important. Industry has emerged as an important voice in this convergence movement, including through the World Economic Forum’s International Business Council’s Stakeholder Capitalism Common Metrics.

Developing a single global standard for non-financial ESG reporting, which includes reporting on sustainability, will accelerate the ability of people to trust that the goods and services they buy are socially, environmentally and ethically produced. Through new technologies we have the ability to tag, track and trace supply chains in unprecedented ways – so it is time to make this level of transparency the norm.

Measures of success include:

  • Standard reporting, metrics and disclosures achieved
  • ESG standards and goals integrated as core into all business and investment governance, management and value creation
  • Adoption of metrics and visibility of Nature, people and planet in supply chain achieved
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