TimelineĬommit at Initial SPO Evaluation Date Report annuallyĬompany has either already reported according to Task Force on Climate Related Financial Disclosures recommendations, or commits to do so within 24 months of Initial SPO Evaluation Date, to demonstrate forward-looking understanding, management, and disclosure of climate- related risks. This reporting will also include clear and explicit reference to the company’s performance against the SPO Framework. Global Reporting Initiative, or GRI) or pursue an integrated reporting approach, in addition to meeting regulatory disclosure requirements. the Sustainability Accounting Standards board, or SASB) and/or report on holistic economic, environmental and social impacts of the company’s activities and contributions for a stakeholder audience (e.g. Company may use one or more comprehensive reporting frameworks on financially material industry-specific sustainability-related risks and opportunities for an investor audience (e.g. TimelineĬompany has either already reported, or commits to report annually on key ESG factors. Company can also meet this criterion through Public Benefit Corporation, Benefit Corporation or Social Purpose Corporation status. 1ġ Materiality as used throughout the SPO Framework draws upon various recognized ESG reporting frameworks and may differ from the interpretation and application of that term as used in other settings.Ĭompany clearly articulates how positive social and/or environmental impact is embedded in its business model, products and services as they relate to key stakeholders (e.g., customers, employees, suppliers, shareholders and external stakeholders) as evidenced through SEC filings and other publicly available company reports. The SPO Framework also requires that an independent third-party assess the company’s performance against the SPO Framework. These criteria have been established in conjunction with, and supported by, an advisory council (the “Advisory Council”), such as a minimum ESG rating, a stakeholder-centric mission and purpose, best practices on climate responses, value chain, people management, and corporate governance, transparent reporting of ESG practices and matters, and commitments to make meaningful progress on important ESG matters. Under the SPO Framework, a company should meet evaluation criteria across several ESG categories. The SPO Framework is designed to ensure that a company at this stage of development takes into consideration positive ESG outcomes, as well as the need to mitigate negative ESG factors, and is dedicated to meeting a high standard of ESG criteria across its business. The Sustainability Principles and Objectives Framework Approach
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