Measurement and Accountability: Why Bother? Johanne Gélinas Partner, Sustainability & Climate Change CSIN 2 nd National Conference - Accountability Through.

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Presentation transcript:

Measurement and Accountability: Why Bother? Johanne Gélinas Partner, Sustainability & Climate Change CSIN 2 nd National Conference - Accountability Through Measurement March 2, 2010

1 Measurement and Accountability: Why Bother? © Samson Bélair/Deloitte & Touche s.e.n.c.r.l. and affiliated entities Measurement and Accountability: Why Bother? Measurement Accountability Corporate Responsibility Sustainable Business

2 Measurement and Accountability: Why Bother? © Samson Bélair/Deloitte & Touche s.e.n.c.r.l. and affiliated entities What is driving companies to act? Environmental impact Climate change Product stewardship Workforce practices Responsible sourcing Impact on local communities Communication and reporting Demanding stakeholders Clients / consumers Local communities Shareholders NGOs Governments Employees Suppliers / producers Media Governance Stakeholders require companies to progress along several key sustainability issues Key sustainability issuesCompanies

3 Measurement and Accountability: Why Bother? © Samson Bélair/Deloitte & Touche s.e.n.c.r.l. and affiliated entities Disclosure on sustainability performance is essential to demonstrate accountability Requirements for sustainability performance disclosure (e.g. Quebec public sector) Accounting standards and securities commissions (e.g. climate change risks) Regulatory obligations Carbon Disclosure Project Socially Responsible Investment (Ethical Investment Fund, Fondaction, …) Pressure from inverstors NGO, local communities Clients Employees, tradeunions Stakeholders’ expectations Global Reporting Initiative AA 1000 ISO Dow Jones Sustainability Index UN Global Compact ILO Conventions UN Millennium Dev. Goals OHSAS Standards and guidelines Companies face many pressures regarding disclosure of sustainability performance

4 Measurement and Accountability: Why Bother? © Samson Bélair/Deloitte & Touche s.e.n.c.r.l. and affiliated entities Key elements for building stakeholder trust Companies need to be able to demonstrate progress on relevant sustainability issues, thereby meeting stakeholders’ expectations Key elements: Quality - Credibility Transparency - Disclosure Materiality - Relevance Measurement (Performance management) Accountability (Stakeholder trust)

5 Measurement and Accountability: Why Bother? © Samson Bélair/Deloitte & Touche s.e.n.c.r.l. and affiliated entities Build credibility through quality of information The quality of sustainability information is of strategic importance to corporate communications Factual data Vague claims are considered greenwashing Verifiable data Internal controls and internal audit -> internal accountability, continuous improvement External assurance -> external accountability, stakeholder confidence

6 Measurement and Accountability: Why Bother? © Samson Bélair/Deloitte & Touche s.e.n.c.r.l. and affiliated entities Sustainability issues differ from one industry to another Materiality matrix: stakeholder concern vs. impact to business Sustainability information needs to be put in context Focus on material and relevant sustainability issues Performance without contextPerformance with context Level of water supply Level of water use E.g. Water use:

7 Measurement and Accountability: Why Bother? © Samson Bélair/Deloitte & Touche s.e.n.c.r.l. and affiliated entities Sustainability reporting is embedded in corporate communications XBLR – cross-referencing Stakeholder feedback Quarterly updates Social media GRI - leading reporting framework Top-level commitment 3 rd party assurance Sustainability governance Disclosure on ecosystems services “Layered” reporting ROI of sustainability projects Life-cycle thinking

8 Measurement and Accountability: Why Bother? © Samson Bélair/Deloitte & Touche s.e.n.c.r.l. and affiliated entities And sustainability attributes are part of product marketing Tesco (UK)Walmart (Product sustainability index in development)

9 Measurement and Accountability: Why Bother? © Samson Bélair/Deloitte & Touche s.e.n.c.r.l. and affiliated entities Sustainability reporting and disclosure have to be integrated into a structured strategic approach to sustainability 2. Vision & Strategy 3. Execution 1. Diagnosis 4. Reporting & Disclosure Issues Identification and Prioritisation Strategy and Targets Definition Actions Plans & KPIs Tracking and Performance Disclosure Risks Reputation Financial Social climate Regulatory compliance Market loss Opportunities Cost reduction Innovation Brand and image Market Positioning Talent retention

10 Measurement and Accountability: Why Bother? © Samson Bélair/Deloitte & Touche s.e.n.c.r.l. and affiliated entities Strategic thinking to sustainability leads to value creation Key Issues Environmental impact Climate change Responsible sourcing Human rights Health and safety Governance Impact on communities Reputation Risk Management = Protecting Value “License to operate” Protect reputation and brand Preserve market share and resources New Opportunities = Creating Value “License to grow” Develop new market opportunities and new business models Innovate on responsible products Become an employer of choice Long Term Vision Sustainable company = Manage short-term risks + Grasp long-term opportunities

11 Measurement and Accountability: Why Bother? © Samson Bélair/Deloitte & Touche s.e.n.c.r.l. and affiliated entities Johanne Gélinas Partner Sustainability & Climate Change Deloitte & Touche Tel: Partner Sustainability & Climate Change Deloitte & Touche Tel: Valerie Chort Partner Sustainability & Climate Change Deloitte & Touche Tel: Partner Sustainability & Climate Change Deloitte & Touche Tel: Contacts