The Council of Institutional Investors is calling for standardized sustainability reporting for companies to disclose issues that are growing in significance to shareholders—from climate risk to corporate governance.
The council, a group of pension funds and foundation endowments, on Wednesday announced the adoption of a policy statement that supports a role for independent, private-sector standard-setters in shaping the metrics for that reporting.
Such independent standard-setters could learn from existing financial reporting rule-writers, like the Financial Accounting Standards Board in the U.S., and should similarly have stable funding and technical expertise, and rely on an open, transparent rule-writing process, the statement...