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Research Outline
Prepared for Colin S. | Delivered March 29, 2020
Business Sustainability Standards
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Goals
Identify the most widely used and best regarded sustainability standards for both investors and for operating firms. For each, provide a brief description of the standards and examples of companies that use them.
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Early Findings
Investors
Global Reporting Initiative (GRI) Standard
The Global Reporting Initiative (GRI) standard is the "
most widely used sustainability reporting standard
."
74%
of the 250 largest companies in the world use the GRI.
The GRI standards are "
the first global standards
for sustainability reporting. They feature a modular, interrelated structure, and represent the global best practice for reporting on a range of economic, environmental and social impacts."
The GRI standards cover
economic, environmental and social impacts.
All companies begin with the Foundation, General Disclosures and Management Approach standards, and then the rest of the standards are industry specific.
A full list of companies using the standards can be found
here
, which includes Yum! Brands, Inc, Xcel Energy, XPO Logistics, Inc., Workday, The World Bank,
W
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r
l
d
W
i
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Technology LLC, Walgreens Boots Alliance, Wells Fargo & Company and more.
Sustainable Accounting Standards Board
The Sustainable Accounting Standards Board standards are popular with investors as they focus on
"materiality."
The SASB "
connects businesses
and investors on the financial impacts of sustainability."
There are
77 industry-specific standards
.
These standards are used by
UBS, Nordea, Glenmede, and o
thers.
Other Standards
While the GRI standards are by far the most popular, other
popular standards i
nclude CDP and the Dow Jones Sustainability Index (DJSI). The International Integrated Reporting Council (IIRC) is a new standard that is gaining popularity.
Other
standards mentioned
were The Organisation for Economic Co-operation and Development (OECD Guidelines for Multinational Enterprises), UN Global Compact (Communication on Progress), and International Organization for Standardization (ISO 26000 Guidance on social responsibility).
Research Summary
The initial research focused on identifying and describing standards for investors, as well as identifying commonly used sustainability standards for business. However, the initial research was unable to identify any standards specific to operating firms.
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