Now is the time for companies to act on sustainability reporting

The World Economic Forum's International Business Council advocates for the urgent adoption of standardised ESG reporting, supporting the move toward mandatory climate disclosures aligned with TCFD and the establishment of the International Sustainability Standards Board (ISSB).

• Business leaders support the G7 and G20 Finance Ministers' move toward mandatory sustainability reporting, specifically those aligned with the Taskforce on Climate-Related Financial Disclosures (TCFD) and the International Sustainability Standards Board (ISSB).
• Standardised and comparable sustainability metrics are viewed as a necessary mechanism to unlock the trillions of dollars in private sector finance required to address climate change.
• Companies are advised to implement ESG reporting immediately rather than waiting for regulatory mandates, using the Stakeholder Capitalism Metrics as a starting point for due diligence and process refinement.
• Effective ESG reporting should be integrated into mainstream financial reporting with the same quality standards, requiring organisational changes in governance, strategy, risk management, and performance management.
• The World Economic Forum’s International Business Council (IBC) developed the Stakeholder Capitalism Metrics (SCM) in 2020, which cover four pillars: principles of governance, planet, people, and prosperity.

APA

Moritz, C. D. S. P. R. B. T. R. E. (2021). Now is the time for companies to act on sustainability reporting. World Economic Forum. https://www.weforum.org/stories/climate-action/now-time-for-action-on-sustainability-reporting/

Chicago

Moritz, Carmine Di Sibio, Punit Renjen, Bill Thomas, Robert E. Now is the time for companies to act on sustainability reporting. World Economic Forum, 2021. https://www.weforum.org/stories/climate-action/now-time-for-action-on-sustainability-reporting/.

Wikipedia

{{cite press release |last1=Moritz |first1=Carmine Di Sibio, Punit Renjen, Bill Thomas, Robert E. |title=Now is the time for companies to act on sustainability reporting |publisher=World Economic Forum |date=4 August 2021 |url=https://www.weforum.org/stories/climate-action/now-time-for-action-on-sustainability-reporting/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{moritz2021now, author = {Moritz, Carmine Di Sibio, Punit Renjen, Bill Thomas, Robert E.}, title = {{Now is the time for companies to act on sustainability reporting}}, publisher = {World Economic Forum}, year = {2021}, month = aug, url = {https://www.weforum.org/stories/climate-action/now-time-for-action-on-sustainability-reporting/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }