Transparency

Businesses create the most value when they fulfill a societal need in a meaningful way. I often find myself reflecting on this sentiment and the importance of electricity in our modern life. Electricity, the lifeblood of modern society, powers individuals, homes, businesses and, increasingly, other areas such as transportation. In a more connected and digital future, we will rely more on electricity, not less. As a power company that generates and sells electricity, I recognize the great responsibility we have in enabling this future.

Introducing the GRI Sustainability Reporting Standards, the first global standards for sustainability reporting. This animation is a great way to learn more about the standards, which will replace the GRI G4 Guidelines on the 1st July 2018.

GRI’s mission to empower decisions that create social, environmental and economic benefits for everyone, can only be fulfilled if everyone is represented. Once a year, there is an opportunity for experts in sustainability to become part of our governance bodies. We are currently seeking members for a term of 3 years - find out more!

"For most of our history, in fact ... for 99% of our history, we've chosen not to be in the public eye and we've really wanted our brands to engage consumers. And yet times have changed," Mars chairman Stephen Badger said.

"Consumers do want to know more about not only the brands that they're buying, but the company that is behind them," Badger, who is also the great-grandson of the company's founder, Franklin Mars, said.

Badger is right. A recent study by Label Insight, which surveyed 2,000 consumers, found that 94% of respondents would be more loyal to a brand if it offered complete transparency.

GRI Impact Stories present companies that are using the GRI reporting framework to create tangible benefits for their business and stakeholders. Jubilant Life Sciences, an Indian pharmaceutical company, states that reporting has contributed in their overall improved sustainability performance. Read more about the benefits in this interview.

Alliance Data shares how disruptive technologies are reshaping the business and social landscape and creating unparalleled opportunities for the company in its 2017 Corporate Responsibility Report that will be out later this month. In advance of the full report, the abbreviated highlights report shares an overview of 2017, a year that allowed us to thrive and do what we do best - be innovative, smart, trusted, responsible, inclusive and generous.

Transparency is becoming a growing point throughout global supply chains, of which SMEs form a large part. How can policy empower responsible business practices among SMEs? Published today, GRI's new paper examines this challenge, issuing recommnedations to policy makers.

As a standard setter in sustainability reporting, GRI has a responsibility to engage in sustainability reporting and exemplify best practice in doing so. GRI is sharing the process when writing their sustainability report, the problems that faced along the way, and the solutions found. And it all begins with the materiality assessment. ​

Every three years, Schneider Electric defines a new indicator to measure its sustainability achievements which form part of the Group’s non-financial results. The sustainability indicators are presented together with the Group’s financial information: by the CEO at the annual and half-year results, and by the CFO at the first and third quarter results. This integrated communication demonstrates Schneider Electric commitment to making sustainability part of the company’s long-term strategy.

Businesses face the same trends – and challenges – in demonstrating transparency with a growing number of stakeholders. Customers increasingly want to know more about their products, and we’ve seen this first hand at Dell: the number and range of the customer requests we receive is rapidly accelerating, especially about the manufacturing of our products.