A coalition of 61 business leaders has announced its commitment to the Stakeholder Capitalism Metrics, a set of ESG metrics released by the World Economic Forum.
The Stakeholder Capitalism Metrics is a set of 21 disclosures that companies can report on which the WEF says strengthens the ability of companies and investors to benchmark progress on sustainability. This improves decision-making and enhances transparency and accountability regarding the shared and sustainable value companies create. The metrics include non-financial disclosures centred around the four pillars: people, planet, prosperity and principles of governance. The pillars include metrics such as greenhouse gas emissions, pay equality and board diversity, among others.
The organizations have committed to:
- Reflect the core metrics in their reporting to investors and other stakeholders (e.g. annual report, sustainability report, proxy statements, or other materials) by reporting on the metrics most relevant to their business or briefly explaining why a different approach is more appropriate
- Publicly support this work and encourage their business partners to do so
- Promote the further convergence of existing ESG standards, frameworks and principles to support progress towards a globally accepted solution for non-financial reporting on common ESG metrics
“Stakeholder capitalism becomes now really mainstream,” said Klaus Schwab, Founder and Executive Chairman, World Economic Forum. “The public commitments from companies to report not only on financial matters but also their ESG impacts are an important step towards a global economy that works for progress, people and the planet.”
The full list of companies that have agreed to implement reporting on the Stakeholder Capitalism Metrics includes:
African Rainbow Minerals
Bank of America
Boston Consulting Group
Deutsche Post DHL
Majid Al Futtaim
McKinsey & Company
Mercuria Energy Group
Mitsubishi UFJ Financial Group Inc.
Novo Nordisk A/S
Palo Alto Networks
Royal Dutch Shell
Sumitomo Mitsui Financial Group (SMFG)
Zurich Insurance Group