The accompanying TOOL for Building Block#14 highlights vitally important issues for organizations to consider in the Diversity, Equity, and Inclusion goal-setting process.
The TOOL is a report, Towards Common Metrics and Consistent Reporting of Sustainable Value Creation, which was launched in January 2020 at the Annual Meeting of the World Economic Forum. The report, which was developed by the International Business Council (IBC), a group of 120 CEOs of the world’s largest companies, presents a set of metrics designed to measure “non-financial” environmental, social and governance (ESG) aspects of business performance and risk in creating long-term value.
These non-financial factors play a vitally important role in “stakeholder capitalism.” Stakeholder capitalism is a system in which corporations do not focus solely on serving the interests of shareholders. Rather they focus on serving the interests of the full range of stakeholders, including customers, suppliers, employees, shareholders, and local communities.
According to the World Economic Forum, the metrics presented in the report are centered on four pillars:
To utilize the tool, click here to download the PDF.