Exploring Shared Value in Global Health and Safety Workshop Summary (2016) / Chapter Skim
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7 Measuring and Reporting Corporate Impact
7 Measuring and Reporting Corporate Impact
Pages 85-96
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From page 85... ...
Specifically, Alyson Genovese from the Global Reporting Initiative (GRI) discussed building transparency and trust in sustainability reporting; Sanjay Sehgal from Nestlé presented the company's approach to creating shared value and GRI reporting; Brett Tromp from Discovery Health in South Africa described efforts to include health metrics in corporate reporting; and Joy Phumaphi from the African Leaders Malaria Alliance discussed opportunities presented by the Sustainable Development Goals (SDGs)
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SUSTAINABILITY REPORTING Building Transparency and Trust in Sustainability Reporting Alyson Genovese, Global Reporting Initiative Companies and other organizations issue sustainability reports because of the expectation to disclose to their key stakeholders financial and nonfinancial data about their social, economic, environmental, and human impacts. Sustainability reports are a mechanism for disclosing this information.
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From page 87... ...
However, over time, a myriad of reasons why companies and other organizations report on their sustainability activities has developed. Risk mitigation remains central, but companies and others also view reports from a proactive opportunistic standpoint with benefits that may include recruiting and retaining key talent; attracting new investment opportunities; identifying research and development opportunities; and providing a competitive advantage.
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From page 88... ...
The SDG Compass is designed to help companies understand their existing strategic goals and activities, map them against SDGs, and develop new approaches and activities aligned in the goals. When asked to provide recommendations for how NGOs can engage in the stakeholder processes of developing reporting standards and frameworks and increasing the inclusion of health impacts as part of reporting, Genovese responded that the GRI framework includes a feedback process for stakeholder groups, and the framework is always evolving based partly on this feedback.
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From page 89... ...
SOURCE: As presented by Alyson Genovese on December 3, 2015; available at www.sdgcompass.org. gure 7-1shared value creation sets in place the infrastructure and the metrics on which companies can report.
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In terms of reporting, Sehgal summarized how Nestlé's global reports have transitioned from reporting on achievements to reporting in alignment with the comprehensive reporting standard set by GRI, the GRI G4 criteria. In 2010, Nestlé hired Bureau Vitas Solutions, an external body to ensure that its reports give stakeholders confidence in the accuracy and validity of the reporting as well as the reliability and objectivity of the information.
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INTEGRATING HEALTH METRICS INTO CORPORATE REPORTING Brett Tromp, Discovery Health From his perspective as a chief financial officer, Brett Tromp presented on the importance of health to a company's financial performance and how his company, Discovery Health, is working to integrate health metrics into corporate reporting. To set the stage, Tromp gave a brief overview of Discovery.
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From page 92... ...
Inflation 10. Data security SOURCES: As presented by Brett Tromp on December 4, 2015; African Business Outlook survey, a joint effort among Duke University, South African Institute of Chartered Accountants, and CFO magazine.
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From page 93... ...
. He noted how he was able to mobilize South African finance leaders through a series of key engagements with the private sector and government to incorporate health metrics in corporate reporting, adding that Discovery was the first company in South Africa to include it in their integrated report.
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This matrix enables more focused attention on the interventions necessary to control malaria by the heads of state; strengthens country health management by increasing the availability and use of evidence for political and technical actors; improves performance and policy visibility across heads of state and government and their ministers to drive change; and increases accountability and transparency for heads of state and government, and ministry of health staff, to track action and progress on malaria and reproductive, maternal, newborn, and child health. She noted that the ALMA scorecard and quarterly reports are accessible to members of the public to provide national stakeholders with management insights for action and accountability.
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From page 95... ...
Some of the things that governments have been doing to address this issue were pointed out by Phumaphi. These include mandating businesses to institute family-friendly policies; requiring health insurance plans for all families; mandating tax breaks and subsidies to encourage businesses and other entities to adopt family-friendly policies; providing public funding for family-friendly interventions and services; granting subsidies and funding for public education; funding and maintaining family-oriented public facilities; encouraging family- and youth-friendly policies among public agencies and services; and using its influence to encourage family-friendly policies.
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96 EXPLORING SHARED VALUE IN GLOBAL HEALTH AND SAFETY and developing indicators, and ways to report on them as part of a global plan to upgrade our preparedness as a society, may be necessary, she answered that it is absolutely critical and that the private sector has responsibilities in the shaping and facilitating of preparedness, enabling capacity to be developed, and supporting the building of that capacity.
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