STAKEHOLDER CAPITALISM METRICS
- January 27, 2021
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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STAKEHOLDER CAPITALISM METRICS
Subject : Economics
Context : 61 business leaders, including members of the World Economic Forum and its International Business Council (IBC), have committed to the core Stakeholder Capitalism Metrics released by the IBC.
Concept :
- Stakeholder Capitalism Metrics offer a set of 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 metrics include non-financial disclosures centredaround the four pillars: people, planet, prosperity and principles of governance.
- Intentionally built on existing standards, the pillars include metrics such as greenhouse gas emissions, pay equality and board diversity, among others.
- By adopting and reporting on these metrics and disclosures, the business community will continue to catalyse greater cooperation and alignment among existing standards and encourage progress on the development of a systemic, globally accepted set of common standards for reporting on sustainability performance.