39 leading social financial investors sent a letter to CEO’s of the 500 largest U.S. companies, urging them to use standardized sustainability reporting measures for year 2000.
According to an Institute for Environmental Management study, 35% of the world’s largest companies
produce environmental reports. 30 multinational corporations, including AT&T, Bristol-Myers
Squibb, British Airways, General Motors, NEC, Nokia, and Shell use the Global Reporting Initiative’s Sustainability Reporting Guidelines, which also contain social performance measures.
The letter’s signatories manage combined assets of over $140 billion. They include Calvert Group, Domini Social Investments, and City of New York and United Church of Christ pension funds. Noted Frank Coleman of Christian Brothers Investment Services, “Corporate social and environmental practices have a profound impact on companies’ bottom-lines. Companies that fail to provide investors
and consumers with more comprehensive, accurate and reliable information will fall behind in the increasingly global economy.”
GRI Sustainability Reporting Guidelines were released in June 2000 after an extensive pilot period.
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