The #OECD_bizfin Global Sustainability Report 2024, confirms worker experience with failed corporate disclosures by multinational enterprises:
- Voluntary reporting is not effective, what little reporting is happening is only on climate while social is still not happening.
- Corporate reporting is neither consistent nor reliable, there is a 20% gap between disclosures (86% market capitalisation) and externally verified disclosures (66% of market capitalisation).
- Half of the GHG reduction targets set by companies go beyond 2030 target set by the Paris agreement.
- Social is not happening even post-covid.
- Employee representation on boards of directors is just 14% of global market cap, meaning 86% of the listed equities market lack a worker perspective on social issues.
- 81% of shareholders report having policies on shareholder engagement yet only 70% report practices for stakeholder engagement.
What all this means to me is we need the Global Sustainability Report to create greater urgency for effective corporate approaches on climate and social issues. OECD member countries should be setting a higher standard with their state owned enterprises, especially on social disclosures and practices.
This starts with accepting the need for verifications and trade unions as the only credible source for verifying social disclosures.
Today we released the OECD Global Corporate Sustainability Report 2024. This first edition analyses how market practices related to corporate sustainability are evolving among listed companies globally.
The report reveals that globally 86% of companies by market capitalisation disclosed sustainability-related information in 2022. Two-thirds used external service providers to review the information disclosed.
Read more: oe.cd/5su
Caio de Oliveira, CFA; Adriana De La Cruz; Valentina Cociancich
Chairman - Founder, CEO at DarkPulse Inc. Aerospace & Defense, Smart Infrastructure
3moIs there a reason your Regional Operations Manager Jim Saitow likes to continually harass myself and our employees on LinkedIn by posting libelous false Information? And now that you’ve been notified are also now civilly responsible?