Sber joined the World Economic Forum (WEF) Stakeholder Capitalism Metrics Initiative, which aims to unify existing ESG reporting standards. The initiative should make it easier to evaluate the development of ESG practices of companies from different countries and industries.
“Sber has joined the global movement of the world's leading companies at the invitation of the head of the World Economic Forum. We support the initiative because we are confident that its implementation will help evaluate the contribution to the ESG transformation in terms of obvious and understandable parameters, will make a significant contribution to the sustainable development of all mankind and will be an important milestone on the path to responsible capitalism,” said Senior Vice President by ESG Sberbank Tatyana Zavyalova.
She added that more than 100 global companies have joined the WEF initiative, including Enel, Total, Royal Dutch Shell, McKinsey, S&P, Schneider and others. These companies are integrating Stakeholder Capital Metrics into their annual reports, she said. Sber, the first in Russia, will also include these metrics in its Annual Report, which will be published this spring.
As part of the initiative, Sber undertook to publicly support it, promote further efforts to create a unified approach to ESG metrics and reporting, as well as apply the metrics of the initiative in its reporting and develop its reporting in accordance with international trends and regulation.
“For Sber, joining this global initiative is important because we support and share the vision and common goal - to promote efforts to create a universal approach to ESG indicators and reporting,” Zavyalova emphasized.
In addition, Sber representatives have also entered the global community of ESG practitioners, which operates on an ongoing basis as part of the initiative.
According to Zavyalova, the approach being developed as part of the WEF initiative will allow stakeholders to clearly assess the contribution of companies to ESG transformation in any industries and countries in which they operate, using transparent criteria that are the same for all.
“Achieving this goal is an important milestone on the path to a more responsible and sustainable economic model that takes into account not only financial success indicators, but also the interests of all stakeholders. This approach is designed to ensure long-term sustainability of development,” she said.
The All-Stakeholder Capitalism Metrics initiative aims to unify existing ESG reporting standards, which will make it easier to assess the commitment to the ESG agenda of companies from different countries and industries. A year ago, with the assistance of specialists from Deloitte, EY, KPMG and PwC, the WEF published a set of universal and industry-specific indicators of capitalism of all stakeholders (Stakeholder Capitalism Metrics, SCM), aligned with the UN Sustainable Development Program until 2030 on environmental, social and management topics that industry leaders have found relevant.
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