Geneva, 20 July 2016: The World Business Council for Sustainable Development (WBCSD), the Climate Disclosure Standards Board (CDSB) and Ecodesk have joined forces to create The Reporting Exchange, a free, multi-lingual, global sustainability reporting knowledge platform. This pioneering platform will help business make sense of their non-financial reporting requirements or guidance at national, regional and international levels.
• The Reporting Exchange is a free, collaborative global knowledge platform that helps business users prepare their sustainability information for reporting, by providing one central resource that helps navigate voluntary, compliance and mainstream reporting provisions
• WBCSD, CDSB and Ecodesk have successfully completed a pilot phase of the project and expect to launch a beta release by December 2016
• Businesses, policy makers, NGOs and other interested parties can now register for the free beta release at www.reportingexchange.com
The Reporting Exchange will identify the reporting regulations, rules, policies, practices, initiatives, standards, codes and guidance which make up the reporting landscape as it evolves over time. This platform will provide much needed clarification to business. It will help business users prepare sustainability information for voluntary, compliance, or mainstream reporting purposes by providing one central resource for reporting provisions.
The Reporting Exchange will also be a useful tool for regulators, investors, academics, NGOs and civil society as well as for organizations developing reporting initiatives. The platform will help them find evidence and resources to advocate for greater corporate responsibility and accountability. WBCSD's Global Network (GN), an alliance of CEO-led business organizations worldwide, is supporting the consolidation of reporting requirements from around the world.
The project recently completed a successful pilot phase, and interested users are now invited to register for the beta release of the full platform, which is expected in December 2016.
CEDBS in Brazil, Perú 2021 in Peru and Forética in Spain are leading the Global Network engagement and were part of the pilot testing phase of the Reporting Exchange. Their insights show the practical implications and benefits for companies that will use the platform. For instance, the three partners highlighted the relevance for companies as the platform helps them understand the laws and requirements of the country they operate in as well as international requirements. The feedback of the companies which took part in the pilot phase was directly taken into account and used to improve the platform ahead of its beta phase launch.
WBCSD Global Network partners can find out about engagement opportunities by contacting the Reporting Exchange team directly at hello@reportingexchange.com
The project is funded by The Gordon and Betty Moore Foundation. For further information on opportunities for engagement with this project, please contact Andy Beanland (beanland@wbcsd.org)
Note to editors:
Quotes from the Global Network partners involved in the pilot phase:
"The reporting cycle really helps integrate sustainability into companies’ strategic approach and decision making. The Reporting Exchange will help our member companies navigate Brazil’s complex reporting scenario by providing a common framework and language, and highlight what is relevant to their sector. At the same time, it helps foreign companies understand the country's reporting idiosyncrasies" explained Fernando Malta, member of the Reporting Exchange working group and technical advisor at CEBDS.
Meanwhile, Peru recently enacted the first legislative requirement for companies listed on the Lima Stock Exchange (BVL) to issue non-financial reports. Adriana Quirós, Research and Development Manager at Perú 2021 commented: “Six of our member companies participated in the pilot that was successfully held in March, providing valuable insights into the changing sustainability reporting context both in and beyond Peru. In addition, our motivation was to collaborate with other Global Network partners on a core WBCSD project to ensure that the platform itself works for the Peruvian audience.”
In Spain, Tomás Sercovich, Director External Relations at Forética described how the growing interest of companies to raise their profile internationally will further increase the need for transparency. “In the context of the SDGs and post-COP 21 scenarios, the pressure on companies will increase for greater accountability and better integration of non-financial decision-making. The Reporting Exchange provides a unique platform to help companies navigate the plethora of mandatory and voluntary requirements worldwide. It will help streamline reporting, make processes more efficient and impact more meaningful. Today, companies need to go beyond compliance and into best practice and the Reporting Exchange is an incredibly valuable tool in this process.”
