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Why and how to produce your first GRI sustainability report This training is provided by GRI Focal Point USA in collaboration with US Sector Leader Bloomberg
Rina Levy, ESG Analyst – Bloomberg, USA [email protected] Marjella Alma - Manager External Relations – GRI USA [email protected] +1 917 690 0909
Webinar GRI Focal Point USA & Bloomberg, 13 July 2012
Vision of the Global Reporting Initiative
A sustainable global economy where organizations manage their economic, environmental, social and governance performance and impacts responsibly and report transparently.
Question: what
essential information
did we forget to
account for in the past?
Outline for today
Presentation by Bloomberg
GRI Training
GRI Resources
Q&A
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310,000+ ESG
JULY// 13// 2012
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Most Bloomberg ESG customers are financial professionals in major financial centers
CUSTOMER SEGMENTS BY
FIRM TYPE
33
CUSTOMER SEGMENTS BY
SALES REGION
Money Managers
29%
Brokers 21%
Universities 12%
Banks 9%
Corporations
8%
Hedge Funds
7%
Government Agencies
4%
Insurance Companies
3%
Pension Funds
3%
London 30%
New York 28%
Hong Kong 9%
Singapore 6%
Brazil 6%
SF 5%
DU 5%
TO 4%
FF 4%
AL 3%
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…capturing standardized cross-sector and industry-specific metrics.
» 170+ fields
downloadable
» ESG Disclosure
Score most used field
» Environmental fields
get 43% of the hits
» 52 sector specific
fields and more to
come
Relative number of hits per indicator
0.0 2.0 4.0 6.0 8.0
ESG Disclosure Score
% Independent Directors
Size of the Board
CEO Duality
UN Global Compact Signatory
Number of Independent Directors
Number of Employees - CSR
% Women on Board
GRI Criteria Compliance
Number of Board Meetings for theYear
FA ESG <GO>
Percent, June-Sep 2011
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50% OF GRI COMPLIANT COMPANIES HAVE A BLOOMBERG ESG DISCLOSURE SCORE OF 40 AND ABOVE
VS
3% OF THOSE NOT REPORTING ACCORDING TO GRI HAVE A SCORE OF 40 AND ABOVE
STANDARDIZE DATA?
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DOES RAW DATA TELL THE WHOLE STORY?
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RAW DATA ENOUGH?
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TRANSPARENCY EXPANDING ON THE RAW DATA
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NEWS SCREENING ON ESG AND YOUR CORPORATION
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PEER COMPARISON
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…over time, GRI reporters outperform the benchmark
HFA<GO>
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ESG VALUATION
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Rina Levy, MBA
Bloomberg LP-ESG Analyst
+609 279 7046
GRI training
• Implications of G4 Exposure Draft
• G3/G3.1 applicability – valid for 2 years after G4 will be launched – May 2013
G4 objectives
• To be user-friendly for beginners and experienced reporters
• To improve the technical quality, clearer definitions
• To align with other reporting frameworks
• To offer guidance which leads to material reports (“materiality”)
• To offer guidance on how to link the sustainability reporting and Integrated Report - aligned with IIRC
• To provide support to improve data search (XBRL)
Focus for profound revisions
• Disclosure of management approach
• Governance and ethics
• Boundary
• Application levels
• Supply chain
• Topics: GHG, anti-corruption, among many others
And… more on material topics per sector!
G4 timeline
MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN
MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN
2011 2012 2013
2011 2012 2013
Text Revision / Editing Task Force
Preparatory StagePublic Comment
Period 1Public Comment
Period 2
Working GroupsMeet
Final Edit LAUNCHGovernance Bodies give Final Vote
WorkingGroupsFormed
Working GroupsMeet
Launch May 2013!!!
G4 workshops
• Washington DC – 17 July
• Dallas – 2 August
• San Francisco – 29 August
Recent research shows that.. sustainability reporting is de facto law for business sustainability reporting enhances financial value
combined reporting leads to IR data integrity is essential leaders choose external assurance
The largest and most comprehensive survey of CR reporting trends published
Vast coverage of 3,400+ companies
Most comprehensive study since the first report in 1993
KPMG International Corporate Responsibility Reporting Survey 2011
Business case for reporting
Opportunities
Risks
Internal External
Improved business models
Attract investment
Attract talent Stakeholder
dialogue
Competitive advantage
Improved reputation and trust
Waste, CO2 and water reduction Governmental and
stock exchange regulation
Innovation
Supporters of the business case • Principles for Responsible Investment (PRI) [2006]
– Currently represents over $22 Trillion in investment capital
– Close to 1000 signatories
• Investor Network on Climate Risk (INCR) [2003]
– Currently represents over $9 Trillion in investment capital
– 90+ members
• Carbon Disclosure Project (CDP) [2002]
– Currently represents over $71 Trillion in investment capital
– act on behalf of 551 institutional investors
• Institutional Investors Group on Climate Change (IIGCC) [2001]
– Currently represents $6 Trillion in investment capital
– 70 members
• Interfaith Center on Corporate Responsibility (ICCR) [1972]
– Currently represents over $100 Billion
– 300 members
Mainstream involvement
How does GRI help?
GRI Mission To make sustainability reporting standard practice by providing guidance and support to organizations.
The GRI Guidelines
GRI Principles:
These guide the content and quality of your
reporting.
Materiality, boundary-setting, inclusiveness,
stakeholder engagement etc.
GRI reporting elements:
1. Profile Disclosures
Strategy, About, Governance.
2. Disclosures on Management Approach
EC, EN, LA, HR, SO, PR
3. Performance Indicators
EC, EN, LA, HR, SO, PR
Display data with a GRI content index
As it: • gives you flexibility to reach different stakeholders in
different ways. • gives you flexibility to reference already existing content. • enhances ease of access for your stakeholders. • communicates your Application Level.
A GRI report.. makes use of the
G3 or G3.1
Guidelines
includes a
GRI Content Index
and preferably
declares an
Application Level
GRI Application Levels
Objective classification system for G3/G3.1 reports
• Signifies to what extent the G3/G3.1 Guidelines have been used in a report.
• Meaning: Tells which set & how many disclosures have been addressed in the reporting.
A pathway for GRI reporters for incrementally improving GRI reporting
Rationale - Application Levels
GRI Application Level Check
“+” reports More than 70 percent of the G250 and 64 percent of N100 engage major accountancy firms.
0% 5% 10% 15% 20% 25% 30% 35%
Drive performance
Primarily responding tolegal requirements
Improve reportingprocesses
Improve quality of reportedinformation
Reinforce credibility amongstakeholders
Source: KPMG International Survey of Corporate Responsibility Reporting 2011
Trends
Who’s using GRI?
American GRI reporters
GRI Sector Leaders:
95% of Global 250 companies issue sustainability reports – 80% use GRI
36
USA – 9th place from 74% up to 83% in 3 years
2008 versus 2011 of N100 companies
37
Reporting trends
US GRI data partner
71 119
141 187
273
23
47
2007 2008 2009 2010 2011
Sustainability Reports in the USA
GRI G3 + G3.1 GRI reference Non-GRI sustainability report
46% growth in absolute number of GRI reports (w/ index) 2010 - 2011 And counting!!
Absolute reporting figures in the USA
GRI reports by sector in 2010
0
50
100
150
200
250
300
*Sustainability Disclosure Database data from 1 February 2012
* Data from the Sustainability Disclosure Database as of 12 April 2012
23 125 446
87
40
35
21 112 415
170
167
41
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Africa Asia Europe Latin America NorthernAmerica
Oceania
Not assured
Externally assured
Data integrity
“Integrated reporting” – international trends
87%
13%
2010
Notintegrated
Integrated
79%
21%
2011
*Sustainability Disclosure Database data from 1 February 2012
GRI Resources
The GRI Guidelines
Free downloads:
• G3.1 Guidelines
• Sector Supplements
(financial services, electric utilities, airports, mining and metals, oil and gas, events, media etc)
https://www.globalreporting.org/reporting/latest-guidelines/g3-1-guidelines/Pages/default.aspx
The GRI Content Index and Checklists
Free downloads:
• GRI Content Index templates
• GRI Checklists
GRI recommends organizations to publish the GRI Index template, but any format is acceptable. https://www.globalreporting.org/reporting/reporting-support/reporting-resources/content-index-and-checklist/Pages/default.aspx
GRI info sharing
The Get Started Video https://www.globalreporting.org/reporting/get-started/Pages/default.aspx
Learning Publications https://www.globalreporting.org/reporting/reporting-support/publications/Pages/default.aspx
GRI Webinars OS – international
OS - USA
GRI Certified Training Courses
USA Training Partners
Current
BrownFlynn and Isos Group
https://www.globalreporting.org/reporting/reporting-support/gri-training-and-workshops/certified-training-partners/Pages/United-States.aspx
Sustainability disclosure database
The GRI benchmarking tool
reportedon and to what extent.
Sector: Financial Services
More involvement with GRI?
In addition to getting started with GRI reporting,
you can:
• Join the Organizational Stakeholder Program
• Become a US Sector Leader
• Participate in Working Groups
• Participate in Governance Structures
Venue, Date
Thank you! More information: www.globalreporting.org http://database.globalreporting.org
