As highlighted in the section of the report describing the consultation process, a survey was conducted that served as a primary source of information for refining the metrics.
In addition to feedback from International Business Council members on specific metrics, ‘88% agreed that reporting on a set of universal, industry-agnostic ESG metrics and disclosures would be useful for their company, while 91% agreed that such reporting would be useful for the financial markets and the economy more generally’.6
Investors were also included in the survey. Among investors who responded, ‘a clear majority agreed that corporate reporting on a set of universal, industry-agnostic ESG metrics and disclosures would be useful for them. They were strongly supportive of the project’s objectives — to streamline ESG reporting; foster transparency, consistency and comparability; and catalyse a systemic solution that integrates financial and ESG reporting’.7 However, almost all investors support reporting on industry-sector and company-specific metrics. Investors also indicated that ‘ESG information presented by companies should be assured and included in the annual report’.8
As noted above, there are several initiatives underway to create a more coherent global corporate reporting landscape. This IBC Stakeholder Capitalism Metrics project represents a significant contribution to that market-based collaboration.