The Aviva convened Corporate Sustainability Reporting Coalition (CSRC) represents financial institutions, professional bodies, NGOs and investors with assets under management of approximately US$2 trillion.

1. June 2012
avivainvestors.com Rio+20: Earth Summit 2012
Towards an agreement on global
corporate sustainability reporting
We are asking participants at Rio+20 to commit to an
agreement on sustainability reporting so that we, as
investors, can help guide the world towards a sustainable
future. In our view, there need only be two core elements
in such a convention.
First, the convention would be a commitment by UN member states to
develop regulations, codes or listing rules that encourage the
integration of sustainability issues within the annual reports of all listed
Paul Abberley and large private companies.
Chief Executive, Aviva Investors
Secondly, we suggest an opt-out for companies that elect not to report
The Corporate Sustainability Reporting on sustainability issues. However, these companies would be required
Coalition (CSRC) was convened by Aviva to explain their reasons to their stakeholders. In other words,
Investors in September 2011.
corporate sustainability disclosure would be on a “report or explain”
The CSRC’s proposals for sustainability basis.
reporting are consistent with the call for
greater corporate transparency in Clause Putting sustainability at the heart of A US$2 trillion coalition
24 of the Rio+20 Zero Draft. capital markets The scale of support amongst investors is
extraordinary. Managers representing
Paul Abberley, Chief Executive of Aviva Investors have a vital role to play in US$2 trillion of ordinary people’s savings
Investors launched the Coalition’s call to ensuring a sustainable future for the have specifically come together to ask for
action at the United Nations Private Sector world. The role of capital markets is to this convention. They are backed by
Forum on Sustainable Energy for All, channel capital to the most productive investor groups representing more than
which was held in conjunction with the uses. However, if the information available US$50 trillion of assets.
66th Session of the UN General is short term and thin then these
Assembly. characteristics will define our markets. It is rare that such a significant grouping
has come together to promote progressive
To include sustainability in our investment sustainability measures.
The CSRC represents investors with
decisions, we need information about the
assets under management of Our proposals
sustainability of companies in which we
approximately US$2 trillion, as well as
invest. Today, while investors know about We are proposing that the convention ask
financial institutions, professional bodies, a company’s profits and cash flows, they
NGOs and other relevant stakeholders. for a “report or explain” standard. If
don’t know about a company’s companies claim that sustainability
sustainability. reporting is too costly, they simply need to
It includes organisations as diverse as the
Association of Chartered Certified Why we need to act now explain why.
Accountants, Global Reporting Initiative, At the moment 75% of companies do not But we believe that most successful
and the Carbon Disclosure Project which report on sustainability issues at all. companies will respond positively. By so
acts on behalf of 551 institutional Without this convention it will be decades doing they will encourage others to do
investors, holding US$71 trillion in AUM. before sustainability reporting is common likewise and become a force for positive
practice across global markets. In the change.
For more information on this proposal, meantime, investors are unable to play the Acting in all our interests
please see: part which the international community
www.aviva.com/earthsummit2012 would like us to play. We also believe that such disclosure is in
all companies’ interests. Reporting is one
For this reason the CSRC is calling for a of the most important catalysts for
Please come to our Side Event commitment to be made at Rio+20 to changes that contribute to the long-term
“Towards a convention on global develop a convention on corporate health of a business.
corporate sustainability reporting” sustainability reporting. This convention
would mandate reporting by companies on The world now needs to move from the
Venue: Barra Arena – Room UN2 issues which are material to their pioneering approach of a minority of
sustainability. companies to a global benchmark of best
Date: Thursday 21 June 17.30-19.00 pm practice for all companies.
An international convention would level
the playing field and engage more We urge you to support our proposals and
(Drinks and Canapés from 16:00 in look forward to working with you towards a
Salao Nobre, Floor 2) companies on the path to business
sustainability. genuinely sustainable future for us all.
Full details overleaf

2. June 2012
avivainvestors.com Rio+20: Earth Summit 2012
Towards an agreement on global
corporate sustainability reporting
Members of the CSRC include, amongst others:
Aldersgate Group Domini Social Investments LLC Peace Child International
Aon Hewitt Global Investment Practice EIRIS PGGM
ACCA Enel Rathbone Brothers
Aviva Environment Agency Active Pension Save the Children
Fund
Aviva Investors Ethos Foundation Schroder Investment Management
Avaron European Sustainable Investment Social Investment for Japan
Forum (Eurosif)
BioRegional F&C Investments Sparinvest Group
BT Pension Scheme Management Forum for the Future Stakeholder Forum
Limited
CA Cheuvreux Fronesys The Co-operative Asset Management
Carbon Disclosure Project FRR Fonds de réserve pour les TD Asset Management Inc
Retraites
Calvert Investment FTSE Thomson Reuters
CBF Church of England Funds Generation Investment Management Traidcraft
CCLA Investment Management Limited Global Reporting Initiative Trillium Asset Management, LLC
Ceres Hermes Triodos Investment Management B.V.
Christian Aid ICAEW UK Sustainable Investment and
Finance Association
Church Commissioners for England Illac Ltd UNCTAD
Church of England Pensions Board Institut RSE UNEP FI
Church of Sweden Kinelea UN PRI
Climate Change Capital Kleinwort Benson Investors University of St Andrews Endowment
Fund
Climate Disclosure Standards Board London Pensions Fund Authority Via Gutenberg
Colonial First State Global Asset MN-Services Vigeo
Management
Corporate Knights Capital Net Balance Management Group Pty VIP eV
Ltd
CorporateRegister.com Limited Net Balance Foundation Limited WWF-UK
Cyrte Investments Numaï Partners Z/Yen
Delta Lloyd Asset Management Pax World Management LLC
“Towards a convention on global corporate sustainability reporting”
Thursday 21 June 17:30‐19:00
Venue: Barra Arena – Room UN2
(Drinks and Canapés from 16:00 in Salao Nobre, Floor 2)
The Corporate Sustainability Reporting Coalition (CSRC) are asking participants at Rio+20 to commit to a convention on
sustainability reporting so that we, as investors, can help guide the world towards a sustainable future.
Join us for a discussion on this important issue, where investors, politicians and NGOs will put forward the strong case for a
convention on corporate sustainability reporting.
Panelists include
Richard Howitt, Member of the European Parliament and Rapporteur on Corporate Social Responsibility (Chair)
Caroline Spelman, UK Secretary of State for Environment, Food & Rural Affairs
Paul Abberley, CEO Aviva Investors
Ernst Ligteringen , Chief Executive Global Reporting Initiative
Derek Osborn, President of the Stakeholder Forum
David Nussbaum, CEO of WWF‐UK