Mandatory Reporting on Sustainability
I am at the World Business Summit on Climate Change, which we are helping to organize in Copenhagen as a feed in event to COP15. The event features over 800 CEOs of industry and major climate change experts. As a recommendation to be submitted to the UN at COP15, industry is asking that Carbon reporting becomes Mandatory in a companies statutory accounts.
Today the Climate Disclosure Standards Board in conjunction with the Carbon Disclosure project and the big 4 accounting firms launched a globally accepted framework, based on existing standards, for corporate reporting on climate change. This will be interesting for your CFOs – http://www.cdsb-global.org/draft-reporting-framework/
Sustainability and carbon reporting will become mandatory in many countries in the near future. It already is in Denmark, the UK, probably will soon be in Norway, Australia and perhaps even in China. The US is not far behind.
The meetings industry will soon be under pressure to measure their emissions. It wont be optional!Perhaps its time for an industry standard way of measure the GHG emissions of the events sector?
Its interesting that some countries have chosen the Global Compact as their reporting standard. Thankfully sector companies such as MCI and Intercontinental Hotels and associations such as MPI, have already signed the compact so will be ahead of the game.
MCI is working towards its footprint measurement implementing the GreenGlobe Index system and will publish its footprint in the next annual report.
For more info on sustainability reporting