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Break-out discussion:
what does a super policy look like?
As mentioned above, super policies in the field of
corporate sustainability disclosure are policies that are
mandatory in terms of their application, prescriptive
in terms of their guidance and broad in terms of
their scope. In
Figure 17
we call out several leading
examples of super policies around the world.
Figure 17:
Examples of super policies
POLICY NAME
COUNTRY YEAR AUTHORITY
AFFECTED STOCK
EXCHANGES
DESCRIPTION
Grenelle II
France
2010 Government
Euronext Paris Grenelle II, which was initiated in 2010 but passed in
2012, requires sustainability reporting for companies
with more than 500 employees or more than 100 million
in either revenue or assets. For qualifying firms, it sets
disclosure obligations for 42 social and environmental
fields.The legislation also requires a third-party to verify the
extra-financial information included in the report. Grenelle II
ultimately sets the stage for integrated reporting in France.
Business
Responsibility
Reports
India
2012 Securities
regulator
Bombay Stock
Exchange,
National Stock
Exchange
Following up on the Indian Government’s “National
Voluntary Guidelines” published in 2011, the Securities
and Exchange Board of India mandated the inclusion
of Business Responsibility Reports in the annual reports
of India’s 100 largest listed entities based on market
capitalization at both the National Stock Exchange and
Bombay Stock Exchange. Business Responsibility
Reports include a variety of specific environmental
and social indicators, including energy and water use,
as well as health and safety data, and metrics around
workforce diversity.
Energy
Conservation Act
Singapore 2012 Government
Singapore
Exchange
In 2012, Singapore passed the Energy Conservation Act,
which requires qualifying companies to report on energy
consumption, GHG emissions, energy management
strategies and conservation plans.The Act details a variety
of indicators that must be disclosed, thus providing clarity
for affected reporting entities.
Source: CK Capital
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