No hiding place: companies need to demonstrate they pay their fair share
The launch of a new tax reporting standard that seeks to ensure multinationals are much clearer about how much – and where – they pay their taxes has received widespread international support.
The GRI Tax Standard is the first global standard for comprehensive tax disclosure at the country-by-country level. It supports public reporting of a company’s business activities and payments within tax jurisdictions, as well as their approach to tax strategy and governance.
RLI and GRI Resource to Support Efforts to Eradicate Forced Labor in Global Supply Chains
ALEXANDRIA/AMSTERDAM, December 2, 2019 /3BL Media/ – A toolkit to advance reporting on modern slavery has been launched by the Responsible Labor Initiative (RLI), an Initiative of the Responsible Business Alliance, and the Global Reporting Initiative (GRI).
The new resource – announced on the UN International Day for the Abolition of Slavery – provides practical guidance to increase the effectiveness of corporate reporting, underpinning the transparency and accountability needed to support global efforts towards eradicating the scourge of modern slavery.
Recommendations for governments to strengthen business accountability
November 25, 2019 /3BL Media/ - Governments need to do more to help businesses understand, mitigate and improve their human rights impacts – by strengthening transparency and reporting requirements.
This is the key finding of a report from GRI looking at the progress countries have made towards meeting their duty under the UN Guiding Principles on Business and Human Rights, by analyzing the 23 National Action Plans (NAPs) produced by governments so far.
The terms of reference are familiar now to many more institutional owners and their managers (as well as to a growing number of retail investors who are their clients and beneficiaries). This movement began as “socially responsible investing” (“SRI”) which evolved over time to “sustainable & responsible investing” and on to “sustainable & responsible & impact investing” in the 21st Century.
In recent months we’re increasingly hearing and using the simplified term “sustainable investing” and “ESG investing”.
November 13, 2019 /3BL Media/ - GRI, provider of the world’s leading sustainability reporting standards, will welcome four new members to its Board from 1 January 2020.
The Board of Directors oversees the organizations’ work to increase and strengthen sustainability disclosures by companies around the world, helping them communicate how they contribute towards sustainable development.
Eric Hespenheide, chairman of the GRI Board, said:
The big news of this week: The USA is now “officially” withdrawing from the Paris Accord on Climate Change. The one-year countdown to “USA out” is now underway.
In 2015 as the representatives of almost all of the nations of the world gathered in Paris, France for “COP 21” (or “the UN Climate Change Forum, the 21st yearly meeting of the Conference of Parties), an important agreement was reached: the 196 nations would work together to attempt to limit global warming to below 2-degrees Celsius (3.5-degrees Fahrenheit) – or at least to not above 1.5C (2.7F).
By Peter Paul van de Wijs, GRI’s Chief External Affairs Officer
From the inception of the Sustainable Development Goals (‘the SDGs’) through the UN’s 2030 Agenda, GRI has championed the participation of the private sector in measuring and achieving progress. And a huge incentive for companies to get involved is improving their ways of working by embracing sustainable business practices.
Climate Change and Corporate Reporting – the two terms are increasingly coupled now as many more investors and stakeholders are requesting information from publicly-traded companies about their awareness of, and strategies & actions for addressing the many risks posed to the enterprise by climate change.
Important sea change: many more investors are now asking companies for information about their preparation for climate change and some, demanding a report if none has been issued.
Support for companies to go beyond regulatory compliance
October 30, 2019 /3BL Media/ - GRI and the Responsible Minerals Initiative (RMI) launched a toolkit this month to help companies with mineral sourcing in their supply chains to do more to meet the reporting expectations of stakeholders – and a free webinar is set to take place.
There are many voices raised now and joining in the public dialogues on corporate sustainability, citizenship, responsibility, ethics, governance…and more. These fit into the commentary stream on the future of capitalism -- and how to make it work for everyone.
There are rigorous companion dialogues – rapidly growing in number -- related to the role of sustainable investing as many more asset owners and their managers adopt new approaches, many focused on corporate ESG performance and outcomes. We see this as further reinventing of capitalism. Do you?