The case for greater transparency got a push today, with the announcement that the Amsterdam-based Global Reporting Initiative (GRI), is launching a U.S. effort to guide more American corporations to adapt GRI's framework to disclose environmental, social and governance performance. Advocates make the case that increased transparency not only tends to boost profitability, but that such details are legally material to corporate financial statements.
Dubbed Focal Point USA, GRI's US initiative debuted today at a breakfast meeting at NYSE Euronext on Wall Street. Pointing out that only hundreds of tens of thousands of US companies strive to document their broader impact, GRI Chief Executive Ernst Ligteringen asked the 230 attendees, 'Why is America letting the world lead in sustainability reporting?" Click here to read more
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