Reporting on the SDGs with Double Materiality: A Workshop on Enhancing Corporate Sustainability
Please note, as this is an in-person event, SPACE IS LIMITED and we are currently at capacity. There is no virtual attendance option.
Despite significant efforts, global progress on achieving the Sustainable Development Goals (SDGs) remains insufficient. While the SDG targets and indicators were originally designed for countries to measure their progress, the private sector also plays a critical role in driving these goals forward. Without active and strategic engagement from businesses, many SDG targets are unlikely to be met.
Despite the challenge of the SDGs being developed for Member States, they have resonated strongly with the corporate world. According to the Governance & Accountability Institute, Inc. 2023 research on sustainability reporting, 52% of Russell 1000 companies aligned with the SDGs in 2022 – an increase from 32% in 2019. From the 472 companies aligning with the SDGs, there were 4,170 specific mentions of one or more of the 17 SDGs, with S&P 500 companies making up the majority. This growing commitment is evident across key sectors such as Consumer Staples, Utilities, Real Estate, Materials, and Health Care. However, despite this strong uptake, there are significant challenges in how businesses integrate the SDGs into their reporting practices.
Companies can selectively report on positive contributions to the SDGs while overlooking negative impacts, leading to SDG-washing. Another standard practice in voluntary SDG reporting is that many companies tend to cherry-pick the SDGs that are easier to measure and report on, leading to incomplete and potentially misleading comprehensive assessments on the company’s overall SDG performance. Furthermore, there is a significant lack of comprehensive reporting that assesses SDG impacts across the value chain. This selective approach undermines the credibility of SDG-related information and hinders stakeholders from making informed decisions.
A thorough understanding of the context in which they operate, impacts as well as financial risks and opportunities can help companies align their business strategies with global sustainability priorities. By embedding the SDGs into double materiality assessments, businesses can ensure that their reporting is not only more accurate and credible but also strategically aligned with long-term business success. Moreover, adopting a double materiality approach can help companies advance strategic action on the SDGs, while also helping to uncover potential risks that could arise from ignoring negative impacts on the SDGs.
To ensure that current SDG reporting practices remain credible, relevant and actionable in a rapidly changing reporting landscape, businesses are urged to report on the SDGs through a double materiality approach. This comprehensive assessment allows businesses to set ambitious, SDG-aligned goals that drive meaningful progress and enhance their resilience and value.
To support companies in this strategic integration, GRI and the G&A Institute are co-hosting a workshop on the sidelines of Climate Week and the UN Summit of the Future. The workshop aims to equip corporate sustainability reporters with insights to seamlessly integrate the SDGs into their sustainability reporting practices, ensuring that their reporting and contributions to the SDGs are both impactful and aligned with the evolving global reporting landscape.
Workshop Objectives
To explore current approaches and practices to integrating the SDGs into corporate sustainability reporting processes.
To equip participants with practical insights that facilitate a deeper integration of the SDGs into sustainability strategy and reporting practices, with a focus on double materiality assessments.
To engage participants in discussions with reporting experts on the implications of double materiality for SDG reporting.
To foster a deeper understanding of the interplay between different reporting frameworks, with a focus on the GRI Standards, and how they can be used to drive disclosures on the SDGs.
Target Audience
Corporate sustainability reporters, with varying levels of reporting maturity (from beginners to experienced SDG reporting practitioners).
Program Agenda
05:00 pm | Check-in & Light Refreshments (30 min)
05:30 pm | Welcome & Introduction (15 min)
Prof. David Rosenberg, Baruch College Welcome
Brief introduction of facilitator(s) and participants.
Overview of workshop objectives, agenda, and materials.
Speakers: Prof. David Rosenberg – Associate Professor, Baruch College; Director, Robert Zicklin Center for Corporate Integrity
05:45 pm | The Relevance of the SDGs for Business (10 min)
Overview of SDG progress, recommitment at the Summit of the Future, and implications for business
Implications for businesses / Why do the SDGs matter for business? (Introduction to impact and financial materiality) / Opportunities (business opps / report) + risks for businesses / customers + employees (talent)
Baseline responsibilities for business
Policy references (US)
Speaker: Peter Paul van de Wijs – Chief Policy Officer, GRI
Expected outcome: enhanced understanding of the opportunities and responsibilities the SDGs represent for business as well as the concept of double materiality.
05:55 pm | Current State of SDG and Corporate Sustainability Reporting(15 min)
Insights from G&A Institute Sustainability Reporting In Focus 2023
Trends in global and regional sustainability disclosures regulation
Speaker: Louis Coppola – Co-founder & Executive Vice President, G&A Institute
Expected outcome:participants will gain insights into current trends in sustainability reporting and the implications and opportunities for SDG reporting.
06:10 pm | The SDGs in Sustainability Reporting (15 min)
Overview of how SDGs are embedded in key sustainability reporting frameworks and standards
The SDGs and the GRI Standards (incl. overview of tools that facilitate reporting on the SDGs (An Analysis of Goals and Targets)
Expected outcome:A clear understanding of how current sustainability reporting frameworks and standards, with a focus on the GRI Standards, align with the SDGs. Participants recognize that integrating SDG reporting is a straightforward process for organizations already engaged in sustainability reporting, thereby encouraging broader adoption and more effective disclosure on the SDG-related impacts, risks and opportunities.
06:25 pm | Q&A (5 min)
06:30 pm | Navigating the Interplay of SDGs & Double Materiality Fireside Chat(25 min)
This session will bring together industry leaders and reporting practitioners to share their experiences and approaches to embedding SDG considerations into double materiality processes. The discussion will explore current approaches, challenges, and lessons learned in integrating SDGs into double materiality approaches and processes.
Topics to be discussed:
Starting with impact materiality
Defining sustainability value creation
Interplay between negative impacts and value destruction
Integrating impact and financial materiality
Evolving regulatory landscape
Moderator: Louis Coppola – Co-founder & Executive Vice President, G&A Institute
Speaker:Nola Richards – Executive Head: ESG & Sustainable Business Vodacom Group
07:00 pm | Breakout Session (30 min)
This session will bring together industry leaders and reporting practitioners to share their experiences and approaches to embedding SDG considerations into double materiality processes. The discussion will explore current approaches, challenges, and lessons learned in integrating SDGs into double materiality approaches and processes.
Participants will break into small groups to discuss their own experiences, challenges, and solutions in how companies are prioritizing topics that are material from both impact and financial perspectives, sharing practical insights and strategies.
Facilitators:
Steven M. Rothstein – Managing Director, Ceres Accelerator for Sustainable Capital Markets
Theresa Spandel – Senior Analyst at Climate & Company
Dan Osusky – Chief Research Officer at International Foundation for Valuing Impacts (IFVI)
Matthew Rusk – Head of North America, Global Reporting Initiative at GRI
Members of Governance & Accountability Institute
07:30 pm | Plenary Discussion (30 min)
In this dynamic plenary session, each breakout group will present their takeaways and approaches to the large group. A panel of experts and industry leaders will then provide feedback in a shark tank-style discussion, offering insights, feedback, and recommendations on the approaches presented.
This interactive format will address the most pressing concerns of the audience, stimulate deeper discussion and analysis, and provide participants with actionable takeaways:
Identifying material SDG-related topics
Challenges in integration
Measuring Impact and performance
Moderator: Louis Coppola – Co-funder & Executive Vice President, G&A Institute; Peter Paul van de Wijs – Chief Policy Officer, GRI; Camila Corradi Bracco – Senior Policy Coordinator, GRI
Expected outcomes:Participants will gain a comprehensive understanding of how businesses are approaching the interplay of SDGs in double materiality assessments. Based on feedback, they will leave with practical and actionable takeaways.
7:55 pm | Closing remarks (5 min)
Recap of key takeaways
Speaker: GRI & G&A
08:00 pm | Networking (30 min)
08:30 pm | End
Discussion Leaders
Louis Coppola, EVP & Co-Founder, G&A Institute
Peter Paul van de Wijs, Chief Policy Officer of the Global Reporting Initiative (GRI)
Camila Corradi Bracco, Senior Coordinator Policy, Government Affairs & Strategic Relations of the Global Reporting Initiative (GRI)
Matthew Rusk, Head of North America, Global Reporting Initiative (GRI)
Please note, as this is an in-person event, SPACE IS LIMITED and we are currently at capacity. There is no virtual attendance option.