Stakeholder capitalism metrics: RIL, Mahindra, Wipro among 100 firms
More than 100 business houses globally, including Reliance Industries (RIL), Mahindra Group and Wipro from India
New Delhi/Geneva: More than 100 business houses globally, including Reliance Industries (RIL), Mahindra Group and Wipro from India, have committed to including Stakeholder Capitalism Metrics in their annual or sustainability reports, the World Economic Forum (WEF) said on Tuesday.
Of these, more than 50 have already begun including Stakeholder Capitalism Metrics, an initiative of Geneva-based WEF, in their mainstream financial and regulatory reporting. These include PayPal, PwC, Petronas, S&P, Salesforce, Total and Yara International.
The 'stakeholder capitalism metrics' initiative of the WEF, which describes itself as an international organisation for public-private cooperation, seeks to improve the ways that companies measure and demonstrate their performance against ESG (environmental, social and governance) indicators and to enable positive contributions towards achieving the Sustainable Development Goals (SDGs). The project's twin objectives are to accelerate convergence among the leading private ESG standard-setters and to bring greater comparability and consistency to the reporting of ESG disclosures.
During its ongoing Sustainable Development Impact Summit, the WEF said that the international support is growing for the stakeholding capitalism metrics initiative with more than 50 companies having begun reporting these metrics in their 2020-2021 filings, while over 100 have shown support for this initiative so far.