The intent is for the metrics to be reflected in the mainstream annual reports of companies on a consistent basis across industry sectors and countries. "For stakeholder capitalism to become a reality, we must be able to measure companies' performance on environmental, social and governance metrics," said Klaus Schwab, Founder and Executive Chairman of WEF. "By aligning companies with asset owner and asset managers through common, limited and meaningful metrics, we will ensure sufficient capital is available to meet the Sustainable Development Goals," said Brian Moynihan, Chairman and Chief Executive Officer, Bank of America. "Companies can deliver great returns for their shareholders, invest in their employees, share their success with the communities in which they operate and drive progress on societal priorities. "At the request of the IBC, the WEF will continue to consult with interested companies and other stakeholders to further develop and test these metrics and universal disclosures as well as to engage and collaborate with policy-makers, businesses and civil society, it said.
Source: Economic Times January 22, 2020 11:26 UTC