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Mercuria Joins Global Business Leaders to Support ESG Convergence by Committing to Stakeholder Capitalism Metrics
27.01.2021

· Today, 61 business leaders, including members of the World Economic Forum and its International Business Council (IBC), have committed to the core Stakeholder Capitalism Metrics released by the IBC

· Stakeholder Capitalism Metrics offer a set of universal, comparable disclosures focused on people, planet, prosperity and governance that companies can report on, regardless of industry or region

· The move signals that private sector leaders view environmental, social and governance factors as critical to the success and long-term viability of all businesses and a unified voice is gathering pace on a global solution for non-financial reporting

· Read more on the Stakeholder Capitalism Metrics and how the initiative encourages greater convergence among sustainability standard-setters and a global solution for non-financial reporting here

Mercuria Energy Group joined a growing coalition of 61 top business leaders across industries to announce a commitment to the Stakeholder Capitalism Metrics, a set of environmental, social and governance (ESG) metrics and disclosures released by the World Economic Forum and its International Business Council (IBC) in September 2020, that measure the long-term enterprise value creation for all stakeholders.

The Stakeholder Capitalism Metrics, drawn from existing voluntary standards, offer a core set of 21 universal, comparable disclosures focused on people, planet, prosperity and principles of governance that are considered most critical for business, society and the planet, and that companies can report on regardless of industry or region. They strengthen the ability of companies and investors to benchmark progress on sustainability matters, thereby improving decision-making and enhancing transparency and accountability regarding the shared and sustainable value companies create.

These leaders and their organizations have today committed to:

· Reflect the core metrics in their reporting to investors and other stakeholders (e.g. annual report, sustainability report, proxy statements, or other materials) by reporting on the metrics most relevant to their business or briefly explaining why a different approach is more appropriate

· Publicly support this work and encourage their business partners to do so

· Promote the further convergence of existing ESG standards, frameworks and principles to support progress towards a globally accepted solution for non-financial reporting on common ESG metrics

In making these commitments, business leaders are signaling that ESG factors are increasingly critical to the success and long-term viability of all businesses. This clearly represents the intent from leading global companies to integrate sustainability into their core strategy, operations and corporate disclosures.

“Stakeholder capitalism becomes now really mainstream,” said Klaus Schwab, Founder and Executive Chairman, World Economic Forum. “The public commitments from companies to report not only on financial matters but also their ESG impacts are an important step towards a global economy that works for progress, people and the planet.”

“At Mercuria we are keen on industry collaboration and cooperation to bring more standardization to the transparency and operation of the commodity supply chain,” said Marco Dunand, CEO of Mercuria. “We see progress in these areas as key to promoting and facilitating the energy transition through encouraging efficiencies and development. We welcome this initiative as an important step forward.”

The World Economic Forum, in collaboration with Bank of America, Deloitte, EY, KPMG and PwC, curated the set of 21 core and 34 expanded metrics over the past two years with the support of over 140 stakeholders.

The metrics include non-financial disclosures centered around the four pillars: people, planet, prosperity and principles of governance. Intentionally built on existing standards, the pillars include metrics such as greenhouse gas emissions, pay equality and board diversity, among others.

By adopting and reporting on these metrics and disclosures, the business community will continue to catalyze greater cooperation and alignment among existing standards and encourage progress on the development of a systemic, globally accepted set of common standards for reporting on sustainability performance.

“We are very pleased to be a part of this initiative. Reporting of standard ESG metrics is key to understanding the impacts of the commodity trading industry, tracking the industry`s progress towards a more sustainable model and helping with the energy transition,” said Mercuria’s Global Head of Compliance Victoria Attwood Scott.

The full list of companies that have agreed to implement reporting on the Stakeholder Capitalism Metrics includes:

1. Accenture

2. Adecco Group

3. African Rainbow Minerals

4. Allianz

5. Banco Santander

6. Bank of America

7. BBVA

8. Boston Consulting Group

9. bp

10. Clifford Chance

11. Credit Suisse

12. Dell Technologies

13. Deloitte

14. Deutsche Post DHL

15. Dow

16. Eni

17. Ecolab

18. Ecopetrol

19. Equinor

20. EY

21. Fidelity International

22. HEINEKEN

23. HP

24. HSBC Holdings

25. IBM

26. JLL

27. Kearney Inc.

28. KPMG

29. Mahindra Group

30. Majid Al Futtaim

31. Mastercard

32. McKinsey & Company

33. Medtronic

34. Mercuria Energy Group

35. Mitsubishi Corporation

36. Mitsubishi UFJ Financial Group Inc.

37. Nestlé

38. Novo Nordisk A/S

39. Palo Alto Networks

40. PayPal

41. Publicis Groupe

42. PwC

43. Reliance Industries

44. Repsol

45. Royal DSM

46. Royal Dutch Shell

47. Royal Philips

48. Salesforce

49. Schneider Electric

50. Siemens

51. Solvay

52. Sony

53. Sumitomo Corporation

54. Sumitomo Mitsui Financial Group (SMFG)

55. Suntory Holdings

56. Takeda Pharmaceutical

57. Total

58. UBS

59. Unilever

60. Yara International

61. Zurich Insurance Group

About the Measuring Stakeholder Capitalism initiative

In August 2019, at the request of its IBC, the World Economic Forum collaborated with Deloitte, EY, KPMG and PwC in a project to identify a set of universal metrics and disclosures – Stakeholder Capitalism Metrics – deliberately drawn from existing standards, focused on the four themes of principles of governance, planet, people and prosperity. In September 2020, following a six-month consultation process with over 200 companies, investors and interested parties, the project published a refined set of 21 core and 34 expanded metrics and disclosures in its report Measuring Stakeholder Capitalism: Towards Common Metrics and Consistent Reporting of Sustainable Value Creation.

The Stakeholder Capitalism Metrics initiative seeks to improve the ways that companies measure and demonstrate their performance against ESG indicators and to enable positive contributions towards achieving the Sustainable Development Goals (SDGs). The project’s twin objectives are to accelerate convergence among the leading private ESG standard-setters and to bring greater comparability and consistency to the reporting of ESG disclosures.

About The Davos Agenda

The Davos Agenda is a pioneering mobilization of global leaders aimed at rebuilding trust to shape the principles, policies and partnerships needed in 2021. It features a full week of global programming dedicated to helping leaders choose innovative and bold solutions to stem the pandemic and drive a robust recovery over the next year. Heads of state, CEOs, civil society leaders and global media will actively participate in almost 100 sessions across five themes. Media can register here.

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