15 November 2013
Corporate disclosure: a roadmap for
consistency
Valeria PianiHead of Investor Engagements
PRI Secretariat
The Principles for Responsible Investment
We aspire to
• 1 …incorporate ESG issues into investment analysis and decision-
making processes.
• 2 …be active owners and incorporate ESG issues into our
ownership policies and practices.
• 3 …seek appropriate disclosure on ESG issues by the entities in
which we invest.
• 4 …promote acceptance and implementation of the Principles
within the investment industry.
• 5 …work together to enhance our effectiveness in implementing the
Principles.
• 6 …each report on our activities and progress towards
implementing the Principles.
1
Insights from 2011 assessment data
Channels used by investors to
collect ESG data…
… and reporting frameworks for
ESG disclosure
Corporate ESG reporting: the investors’
perspective
Provide insights about strategy, risk, governance and future
trends for the business and draw explicit links
Show information on the internal materiality assessment
process
Need for comparability across sectors, regions and years
Interest in benchmarking against previously-stated goals and
tracking progress – indicate the timeframe of targets and
strategies
Focus on short, medium and long term
Ensure consistency with other reports (i.e. financial statements,
codes of conducts etc)
Corporate reporting: the investors’
perspective
Use of new technology to communicate - hyperlinks for more
detailed information
Link content elements through an index, section headings,
diagrams, cross-references, process maps and navigation
symbols or icons.
Substantiate, where appropriate, by credible third-party
research, projections and estimates.
Having multiple reporting frameworks gives companies more
flexibility, but it is easier to disperse information
Regulatory support is key – call for a more coordinated
approach
Investors’ initiatives
Emissions disclosure and
reduction– to improve disclosure
and quality of responses to the
Carbon Disclosure Project
IIRC Investor Network – feedback
to the upcoming framework
Sustainable Stock Exchanges –
role of stock exchanges to increase
ESG disclosure and performance by
companies
UNGC leaders and laggards- Use
of the Communication on Progress
6
Mapping the initiatives…
A roadmap for consistency
Corporate Reporting
Investors
Standard setters
Stock Exchanges /regulators
Policy makers
THANK YOU