• Register
Return to: Home > News > Standards > World Business Council for Sustainable Development launches the Reporting Exchange

World Business Council for Sustainable Development launches the Reporting Exchange

The World Business Council for Sustainable Development (WBCSD) has launched the Reporting Exchange, an online platform to help businesses navigate the confusing and fragmented world of corporate reporting requirements on environmental, social and governance issues (ESG).

The reporting exchange is a free online resource that allows anybody interested in corporate reporting of ESG information to find out what the reporting requirements are across the world, what reporting resources exist to support those requirements and what management resources exist to help management implement those requirements.

The platform currently hosts 1,776 reporting provisions covering 60 countries which, according to  WBCSD managing director, redefining value & education Rodney Irwin, represent 93% of global GDP.  

The platform will soon launch a Spanish version followed by a Japanese one and French, German, Italian and Portuguese, Irwin announced at the launch event of the English platform in the London Stock Exchange in September.

“Our aim is to build a global community of business, reporters, academics and others who contribute their knowledge and experience of the platform by adding and updating the requirements and resources,” Irwin said. “Sustainability reporting is not a competitive advantage, we want company to compete on performance not on methodology and therefore this resource is there to create that level playing field against which all companies can report transparently their performance and compete on performance not the theory behind the numbers that they produce.”

While the Reporting Exchange was created in partnership with many stakeholders, the brain behind this initiative is Climate Disclosure Standards Board (CDSB) founding director Lois Guthrie who in the mid noughties had the idea of creating a resource giving clarity on the corporate reporting landscape.

“So now we know the landscape or at least 60 countries worth of it, yes it’s confused, yes it’s frustrating as the panellists have said, yes it is bewildering,” she said at the launch event. “However that is not necessarily a bad thing, it is healthy at this stage in the development of our understanding about how we are to collect information necessary for making decisions about a sustainable future.”

Some people have said that these different provisions are a bit like notes on a musical score, Guthrie continued, they just need orchestration to make a more harmonious sound.

“While we work out what to do there is actually a faithful scribe a faultless calculator and a superb bookkeeper that is keeping a record of what is happening to the planet and society and that is in the shape of the carbon cycle, the water cycle, natural systems, the hearts and minds of people. They are keeping the record and if we could read that record it would say crisis,” she said. “So now it is over to you, you’ve got to look at that system and look at what is needed for coherent policy making that is going to protect our society and planet. Have a look at it and come back to us where you see opportunities for synergies.”

The Reporting Exchange can be accessed here

Top Content

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    read more

    FASB: a quest for simpler standards

    FASB chair Russell Golden addressed the IMA 2019 Annual Conference and Expo at the Sheraton San Diego Hotel and Marina, California, on 18 June. IMA immediate former chair-emeritus Alex Eng acted as moderator. Joe Pickard reports.

    read more

    The future of audit, and how to get there

    Two recent reports peer into the future of the audit profession. One analyses what an audit should offer, while the other looks at how the audit process will be carried out. Robin Amlôt takes a closer look at both.

    read more

    EFAA elects new president, focuses on digital future

    EFAA’s new president, Salvador Marin, outlined his key priorities for the next two years at the organisation’s 2019 annual general meeting, while outgoing president Bodo Richardt offered advice. Robin Amlôt reports.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.