INSIGHTS
Fronesys supports Aviva stance on sustainability reporting
Fronesys has joined the initiative led by Aviva Investors to convene a Corporate Sustainability Reporting Coalition (CSRC), which is calling on United Nations (UN) member states to commit to develop a policy framework on corporate sustainability reporting.
The focus of the initiative is the Rio +20 Earth Summit on sustainable development, which has its 20th anniversary in June 2012. Aviva’s initiative is inviting heads of state and heads of government to take action.
The convention is proposing (see attached PDF) that UN member states at Rio +20 commit to develop national regulations mandating the integration of material sustainability issues in companies’ Annual Report & Accounts. We are also advocating effective mechanisms for investors to hold companies to account on the quality of their disclosures – eg through an advisory vote at the AGM.
The production of a report and accounts that integrates sustainability throughout will help create the right kind of discussions within boardrooms, throughout firms and encourage investors to think about the sustainability of the firm. We believe this will help capital to be allocated to more sustainable, responsible companies and strengthen the long term sustainability of the financial system.
Already countries like India and Brazil are exploring mandatory sustainability reporting and this initiative will be encouraging other countries to embark on the same journey. Clearly, the introduction of integrated reporting offers one key mechanism for bringing sustainability into the mainstream of corporate reporting.
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