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GRI calls on governments to demand greater transparency from companies

Board members of the Global Resporting Initiative (GRI) have issued The Amsterdam Declaration on Transparency and Reporting calling on governments to introduce policies requiring companies to address publicly environmental, social and governance (ESG) factors.

The declaration states that the root causes of the current economic crisis would have been moderated by a global transparency and accountability system based on the exercise of due diligence and the public reporting of ESG performance. It calls on governments to take leadership in rebuilding a revitalized and resilient economic system through:

Introducing policy requiring companies to report on ESG factors or publicly explain why they have not done so.
Requiring ESG reporting by their public bodies - in particular: state owned companies, government pension funds and public investment agencies.
Integrating sustainability reporting within the emerging global financial regulatory framework being developed by leaders of the G20.