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- UNDP teams with GRI, GSG Impact, IFRS, and ISO to set up Sustainability Disclosure and Management Hubs.
- Initiatives in 14 countries will boost sustainability reporting and management standards.
- Focus on capacity building, national priorities, and regulatory development.
The UN Development Programme (UNDP) has partnered with the Global Reporting Initiative (GRI), GSG Impact, IFRS Foundation, and International Organization for Standardization (ISO) to establish Sustainability Disclosure and Management Hubs (SDMHs) in 14 developing and emerging economies.
New Era in Sustainability Reporting
In collaboration with UNDP Financial Centres for Sustainability (FC4S), these hubs will be launched in 2024 across Latin America, the Caribbean, Africa, and Asia. The initiative will focus on enhancing sustainability disclosure, aligning with national development priorities, providing stock exchange guidance, and developing regulations.
Partnership Strengthened
Expanding on the existing partnership with the IFRS Foundation’s International Sustainability Standards Board (ISSB), established at COP27 in 2022, UNDP will lead the SDMH initiative. This collaboration aims to facilitate the adoption of global sustainability standards such as IFRS S1 and S2, GRI Standards, and management standards developed by ISO and UNDP.
“We are excited to collaborate… in launching the SDMHs, a remarkable step forward in advancing global sustainability disclosure and management standards,” said Marcos Neto, UNDP’s Assistant Secretary General.
Execution Plan
In 2024, pilot projects will commence in six countries, expanding to eight more in 2025. These projects will support capacity building, align with national development priorities, and foster regulatory development.
“We applaud UNDP for their leadership in establishing sustainability disclosure hubs. We look forward to partnering closely to support this vital work,” stated Jingdong Hua, ISSB Vice-Chair.
Global Support
The SDMHs will benefit from the expertise and resources of their global partners.
“We are proud to be part of this initiative from UNDP… to increase transparency, support sustainable development, and help companies remain competitive,” remarked Peter Paul van de Wijs, GRI’s Chief External Affairs Officer.
“Our standards are more powerful together. By demonstrating the connection and interoperability between them, we will be building capacity in countries… to more effectively manage sustainability disclosures,” said Sergio Mujica, ISO Secretary General.
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“We expect this to build on… our ongoing efforts to ensure adequate levels of inclusivity from key stakeholders in emerging economies in global sustainability disclosure standard-setting efforts,” noted Nick Hurd, Chair of GSG Impact.
By engaging global expertise, the SDMHs will enhance outreach, communication, and resource-sharing, ensuring the success of this significant initiative.