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

valeria.piani@unpri.org