Finding value in non-financial reporting
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This presentation was given at the annual meeting of Boston College's Center for Corporate Citizenship (BCCCC) on April 12, 2011. The pres
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Finding value in non-financial reporting
- 1. Sustainability Reporting Trends Global Reporting Initiative Finding th V l i N Fi di the Value in Non- Financial Reporting April 2011 Mike Wallace Director, Focal Point USA Global Reporting Initiative wallace@globalreporting.org +1 212 339 0356
- 2. What is non- non financial reporting?
- 3. Comes in all shapes & sizes CSR - Corporate Social Responsibility SD - Sustainable Development ES - Environmental Sustainability y BE - Business Ethics CE - Corporate Ethics p CG - Corporate Governance ESG - Environmental, Social & Governance IR - Integrated reporting What is your “Footprint”? Footprint ? © GRI 2011
- 4. Who Wh really cares? ll ? © GRI 2011
- 5. Increasing Stakeholders and Demand Modern Due Diligence © GRI 2011
- 6. What Wh t are we seeing? i ? © GRI 2011
- 7. GRI’s Vision & Mission GRI’s Vision A sustainably global economy where organizations manage their economic, environmental, social and governance performance and impacts responsibly and report transparently. GRI’s Mission To make sustainability reporting standard practice by providing guidance and support to organizations. © GRI 2011
- 8. Fortune 250 Survey October 2008 • 80% of Global Fortune 250 companies now release CR data • Doubled since 2005 - up from 37% p • Increasingly driven by economic concerns • 74% of top 100 US companies published corporate responsibility (CR) information in 2008 either as part of their annual financial report or as a separate document • Reasons cited: • 70% cited ethical considerations as primary driver for CR disclosures • 50% cited economic concerns as the leading reason • GRI is used by: • 77% of G250 • 69% of N100 in 22 countries © GRI 2011
- 9. GRI Reporting Trends 2000 Year # of Growth reports rate 1818 1800 US Reporters in 1999 1999 11 2000 44 300% 1600 •Bristol-Myers Squibb Bristol Myers 1491 2001 122 177% 1400 •GM 2002 2003 139 166 14% 20% 1200 •P&G 2004 274 65% 1116 •Sunoco S 2005 2006 373 516 36% 38% 1000 2007 709 37% 800 2008 1116 58% 709 2009 1491 34% 600 516 2010 1818 22% 373 400 274 • 586 first- 200 139 166 11 44 122 time reporters 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 in 2010. G2 G3 © GRI 2011
- 10. GRI Reporters (North American Sample) © GRI 2011
- 11. Why should this y matter to you? © GRI 2011
- 12. As a buyer what information buyer, do you expect? When you buy a house, a car, a product or service . . . d t i What information do you deserve? Is it useful & comparable? © GRI 2011
- 13. Shareholder Initiatives & Coalitions Principles for Responsible Investment (PRI) [2006] Currently represents over $22 Trillion in investment capital 800+ 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 $100 Billion 300 members © GRI 2011
- 14. GRI Reporters - Database http://www.globalreporting.org/GRIReports/GRIReportsList/ © GRI 2011
- 15. ESG Analysis of Tech Sector Apple pp x x 7.95 CA --- Dell x x x x 6.14 EMC x 6.86 6 86 Fujitsu x --- HP x x x 7.74 Intel x x x x 7.96 IBM x x x 7.60 Microsoft x x x x 6.54 6 54 Toshiba --- X Updated 2010 © GRI 2011
- 16. Technology Hardware Technology Software & Services Social Corporate Overall 2010 Company Environment Governance ESG Score Leadership d hi Employees l Stakeholders k h ld Apple 28 3 11 7 14 63 CA, Inc. 25 4 14 16 9 68 Dell 27 8 16 8 21 80 EMC 26 5 19 12 14 76 Fujitsu 13 7 10 10 18 58 HP 26 8 16 10 25 85 Intel n/a n/a n/a n/a n/a n/a IBM 24 9 20 12 20 85 Microsoft 29 7 15 17 15 83 Toshiba 19 7 13 10 18 67 Maximum score 30 10 30 15 30 115 (possible) © GRI 2011
- 17. Market Evolution 300,000+ subscribers globally 3,500+ companies and climbing ESG Aspects •Emissions •Energy Consumption •Human Rights •Policies •Board Make Up Board Make-Up Built around GRI © GRI 2011
- 18. How do they compare? (FY2008) ESG Total Energy Community % Total GHG Total Waste Company Disclosure Consumption spending Independent (‘000 tonnes) (‘000 tonnes) Score (‘000 Mwh) (mln US$) directors Apple 37.96 130.00 247 2.2 --- 87.50% CA, Inc. 40.28 --- --- --- 5.26 91.67% Dell 53.24 528.54 --- 90.66 26.40 83.33% EMC 44.91 371.62 727.51 --- --- 81.82% Fujitsu 45.83 ---- 13798 33.95 --- 20.00% HP 45.83 1713 --- 91.83 46.20 90.00% Intel 66.20 3500 5643 83.80 102 83.33% IBM 52.31 2500 6598 103.13 179.30 91.67% Microsoft 43.06 257.7 192.79 --- 865.20 80.00% NEC 59.26 1980 --- 48.00 7.90 33.33% Toshiba 51.39 3510 16138 281.52 --- 28.57% © GRI 2011
- 19. Why should this y matter to you? © GRI 2011
- 20. NASDAQ OMX Sustainability Index © GRI 2011
- 21. 100% 120% 140% 160% 180% 60% 80% 0-Jan-00 12-Feb-04 25-Mar-04 6-May-04 17-Jun-04 © GRI 2011 29-Jul-04 9-Sep-04 21-Oct-04 2-Dec-04 13-Jan-05 24-Feb-05 7-Apr-05 19-May-05 30-Jun-05 11-Aug-05 22-Sep-05 3-Nov-05 15-Dec-05 26-Jan-06 9-Mar-06 20-Apr-06 1-Jun-06 13-Jul-06 DOW JONES SUSTAINABILITY INDEX 24-Aug-06 5-Oct-06 16-Nov-06 28-Dec-06 8-Feb-07 22-Mar-07 3-May-07 14-Jun-07 26-Jul-07 6-Sep-07 18-Oct-07 29-Nov-07 10-Jan-08 21-Feb-08 3-Apr-08 15-May-08 26-Jun-08 7-Aug-08 18-Sep-08 30-Oct-08 11-Dec-08 22-Jan-09 5-Mar-09 DOW JONES INDUSTRIAL AVERAGE 16-Apr-09 28-May-09 9-Jul-09 20-Aug-09 1-Oct-09 12-Nov-09 Dow Jones – Ind. Avg. vs. SI Source: Bloomberg 24-Dec-09
- 22. Bloomberg – Reporters vs. Non © GRI 2011
- 23. How else can you find value? Supply Chain Financial Markets, Private Equity & Exchanges Integrated Reporting Government Uptake G4 Development © GRI 2011
- 24. Supply Chain Ripple Customer Training Suppliers GRI Stakeholders © GRI 2011
- 25. Mainstream Uptake (May 14, 2010) © GRI 2011
- 26. Mainstream Uptake (Jan 31, 2011) © GRI 2011
- 27. International Integrated Reporting Committee (IIRC) http://theiirc.org © GRI 2011
- 28. Early Adopters of Integrated Reporting © GRI 2011
- 29. Global Regulatory Review "More governments are making sustainability reporting mandatory.“ • 142 regulatory i t l t instruments t addressing sustainability reporting exist in the 30 p g countries • 65 percent of the standards are classified as mandatory, the rest are considered voluntary © GRI 2011
- 30. What b t Wh t about G4? © GRI 2011
- 31. Global Reporting Initiative Thank you Mike Wallace Director, Focal Point USA Global Reporting Initiative wallace@globalreporting.org wallace@globalreporting org +1 212 339 0356