SIGN UP NOW: Leaders and climate activists from the World Economic Forum and more discuss sustainable solutions

Klaus Schwab
Klaus Schwab, founder and executive director of The World Economic Forum and author of “Stakeholder Capitalism.”

  • For businesses, taking action on climate change requires moving from strategy to action.
  • Leaders in the finance and CPG sectors will share how to make actionable outcomes that will tackle climate change.
  • On April 20, 2021, Insider is hosting a free virtual event at noon ET, featuring speakers from the World Economic Forum and Deloitte.
  • Click here to register for this free virtual event.

There’s work to be done in the fight against climate change.

Insider’s virtual event “Act to Impact: Keeping our Promises to the Planet,” presented by Deloitte, takes place Tuesday, April 20, 2021 at noon ET, and includes live conversations with Insider editors and leaders from large corporations in the finance and CPG sectors, climate activists and experts, artists and scholars, as well as climate tech changemakers.

Session will discuss actionable and measurable outcomes, advanced sustainable solutions across sectors, how transformative technologies can help take action forward and what part art and society at large play in the climate change movement.

Speakers include:

  • Punit Renjen, CEO, Deloitte Global
  • Professor Klaus Schwab, Founder & Executive Chairman of the World Economic Forum
  • Elizabeth Yeampierre, Executive Director of UPROSE and Co-chair of the Climate Justice Alliance
  • Rodger Voorhies, Global Growth & Opportunity Division, Bill & Melinda Gates Foundation
  • and more!

Register For “Act to Impact: Keeping our Promises to the Planet”


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Bank of America, KPMG, Mastercard, and some 60 other top companies adopt new ESG metrics

Brian Moynihan, the chief executive of Bank of America.
Brian Moynihan, the chief executive of Bank of America.

  • Some 60 major companies have agreed to adopt a new ESG reporting framework. 
  • ESGs are metrics that measure a company’s environmental, social, and governance progress. 
  • The effort is being led by the World Economic Forum and the International Business Council, run by Bank of America CEO Brian Moynihan. 
  • Visit Business Insider’s homepage for more stories.

Executives from Bank of America, Mastercard, KPMG, and about 60 other large companies announced Tuesday they’ll be adopting a new reporting framework for environmental, social, and governance standards (ESGs) in partnership with the World Economic Forum. 

Other companies that have signed on to this reporting framework include Salesforce, Unilever, Dell, and Sony. 

ESG standards are a set of criteria used to measure a company’s performance on things such as how the company is impacting the environment (like its amount of toxic emissions), how it manages relationships with its employees (does it encourage employees to volunteer), and how the company runs internally (boardroom diversity).

If widely adopted, these standards, called “Stakeholder Capitalism Metrics,” have the potential to transform what it means to operate a large corporation. It could make it standard procedure for a major company to report its ESG metrics, just like it’s standard (in fact, required) for a company to report on its financial metrics. 

Many in the business community see ESG metrics as a concrete way to advance stakeholder capitalism, the leading economic theory today that says companies are responsible to all stakeholders, including their employees, customers, the environment, as well as their shareholders. 

“We have to deliver great returns for our shareholders and help drive progress on society’s most important priorities,” Brian Moynihan, CEO of Bank of America, and chairman of the International Business Council, said in a statement. “That is stakeholder capitalism in action.”

The next step in a trend

In September, the World Economic Forum and the International Business Council (IBC), run by Bank of America CEO Brian Moynihan, partnered with “the Big Four” accounting firms to create the reporting framework of 21 ESG standards. The big four – Deloitte, PwC, EY, and KPMG – provide financial auditing and other professional services. 

Insider recently spoke with Klaus Schwab, World Economic founder and executive chairman, about the more than 60 companies signing on to these metrics. 

“At the moment you have a situation where a company reports mainly about their intentions. Now we have to walk the talk,” he said. 

Read the original article on Business Insider