UNCTAD launched the pilot edition of ISAR Honours on 24 October 2018.
Nineteen initiatives were submitted, from which the top seven recipients of ISAR Honours were chosen. The results of the ISAR Honours were unveiled during the during the 35th meeting of the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting held in Geneva. For the pilot edition all other twelve initiatives were acknowledged.
Honourees
National Category
FSR-Danish Auditors, Denmark CSR Award 2018
For its initiative “CSR Reporting 2018 awards”
FSR is Denmark’s trade organization of auditing, accounting, tax and corporate finance, with 600-member firms and 5,000 individual members.
It aimed to showcase what good sustainability reporting looks like for the benefit of other companies, providers of financial capital and society at large, through award and associated analysis.
Its work includes developing criteria for the award and populating specific questions (24 main questions and 105 sub-questions developed in 2018) as part of the analysis and pre-assessment for the award.
The analysis and pre-assessment were designed to provide statistical insights on sustainability reporting practices among the 50 largest listed and non-listed companies in Denmark.
“The aim of the ISAR Honours to support efforts on enhancing the quality of companies’ reporting on their contribution to the 2030 Agenda for Sustainable Development is an effort that FSR – Danish Auditors share, and the reason why are participating in the initiative.
Denmark has a long history of corporate sustainability reporting and although many companies do well, our analysis shows overall that the robustness and reliability of the sustainability reporting is still not good enough.
Through our awards we wish to push and showcase what good reporting looks like for the benefit of other companies, providers of financial capital and society at large.
Bringing this to scale and discussing this at international level is very encouraging for us”.
Ms. Pernille Risgaard, Project Leader and
Ms. Birgitte Mogensen, Chair, CSR committee,
FSR – Danish Auditors
B3 Accounting, Brazil
For its initiative “Report or Explain for the SDGs”
In 2017 B3 in partnership with the Global Reporting Initiative (GRI) has launched the “Report or Explain for the SDGs” initiative, aimed at stimulating transparency of the listed companies’ strategies and actions in relations to the 17 SDGs.
B3 through an online survey recommends listed companies to annually state the sustainability reporting taking into account SDGs or request to explain, if not reported. It helps companies to improve reporting practice by offering “Report or Explain” workshop twice per year.
The initiative was born as a voluntary adherence by listed companies on B3 to encourage disclosure of ESG related information that is increasingly demanded by investors.
“We consider this ISAR Honours recognition very relevant to the development agenda of the Brazilian market and our clients, listed companies and investors.
This demonstrates that we work to enable and connect the private sector practices to sustainability and the SDGs, especially.”
Sonia Aparecida Consiglio Favaretto
Director, B3, Brazil
Ministry for Economy and Finance, France / Ministry for Financial Markets and Consumer Affairs, Sweden
For its “Strategic Partnership for Innovation and Green Solutions”
The Strategic Partnership for Innovation and Green Solutions was signed on 17 November 2017 in Göteborg.
It is a far-reaching and ambitious joint force in advocating for the greening of economies at national, European and world level, and in helping both countries to fulfill the SDGs.
The partnership covers four priority areas, one of which being “Green finance for climate- resilient economies” that focuses on developing tools to finance the transition towards low- carbon and climate-resilient economies and establish an appropriate framework to allow companies and financial institutions to go green as quickly as possible on the political, institutional and private sector level.
Respectively, two major events have been organized: the Climate Finance Day and a Conference on Green Finance.
“It was obvious for both countries to apply together to “ISAR Honours 2018”, as a recognition of the work already performed, and as a powerful means to increase our outreach to public and private stakeholders and convince them to go green”.
Ms Odile RENAUD-BASSO
General Director of the French Treasury
Green Finance Taskforce, UK
For its initiative “Best Annual Sustainability Report Award”
HM Treasury and the Department for Business, Energy and Industrial Strategy co-hosted the Green Finance Taskforce, which brought together leading experts from the financial sector, academia and civil society, forging partnership between Government and financial service sector.
Established in September 2017, Green Finance Task Force consulted more than 140 organizations through over 40 industry workshops and roundtables over a six-month period, identified over 100 possible recommendations, designed an evaluation criterion to prioritize recommendations and published its final ‘Accelerating Green Finance’ report to Government on 28 March 2018 that outlined 30 recommendations grouped under 10 themes.
Professor Carol Adams, Durham University Business School, UK
For his publication ”The Sustainable Development Goals, integrated thinking and the integrated report”
This publication from the International Integrated Reporting Council (IIRC) and ICAS, in partnership with the Green Economy Coalition has been developed to help organizations enhance their contribution to the SDGs, whilst reducing corporate risk and increasing opportunities that arise from sustainable development issues.
The report, authored by academic Professor Carol Adams, is centred on the concept of the six capitals, which is a fundamental feature of Integrated Reporting. It addresses how, through efforts to transforms the capitals to create value for themselves and for others, organizations can make a material contribution to the SDGs, as well as clarify how they are mitigating or alleviating any detrimental effects.
International Category
World Business Council for Sustainable Development, in partnership with Climate Standards Disclosure Board and Ecodesk
For the online platform “Reporting Exchange”
Aimed at scaling up robust and high-quality integrated sustainability reporting, the World Business Council for Sustainable Development, the Climate Standards Disclosure Board, the Ecodesk and many contributing partners built the Reporting Exchange.
It is a free, online single platform for easy access and use, with most comprehensive and up-to-date information on sustainability reporting requirements from mandatory regulation to supporting guidance, voluntary standards and stock exchange listing from 60 countries and 70 sectors.
With country-specific information, impact is translated from global reach to local change. Comprehensive database allows an analysis of international and national reporting developments.
Platform provides tailored information, linking reporting requirements for a specific sector to the SDGs.
“We are thrilled to be recognized for this collaborative project that supports the meaningful integration of ESG information into companies’ reporting cycles and processes.
It’s a testament to the hard work the team and partners have carried out, and the role that reporting can and does play in building a more sustainable future “.
Rodney Irwin
Managing Director
WBCSD’s Redefining Value Program
Aviva (Project Everyone)
As founding partner of the “World Benchmarking Alliance”.
Aviva looks to improve the quality and availability of sustainability reporting and delivery of the SDGs through its own practices and through promoting collaborative action.
Aviva is a founding partner of Project Everyone, an initiative, backed by the UN and the Gates Foundation that aims to make everyone aware of the SDGs.
It is spearheading the establishment of free, public, transparent and authoritative league tables of companies’ contribution to the Sustainable Development Goals.
In September 2017, alongside the UN Foundation, Index Initiative, the Business and Sustainable Development Commission (BSDC) and Dutch, Danish and UK governments, Aviva launched the global consultation to establish the World Benchmarking Alliance that engage with a range of governments and wider stakeholders worldwide.
