A coalition of sixty-one top business leaders from all sectors, including Eni, is committed to supporting the Stakeholder Capitalism Metrics, a series of environmental, social and governance (ESG) metrics issued by the World Economic Forum and the International Business Council (IBC) with the aim of measuring the creation of long term corporate value for all stakeholders. The announcement was made on 26 January 2021, on the occasion of the World Economic Forum held in Geneva.
We strongly support this initiative. Only together can we create lasting and tangible value for a more sustainable future.
A universal method for measuring ESG performance
Through the agreement, leaders and their organisations commit to:
- Adapting reporting for investors and other stakeholders (such as annual reports, sustainability reports and delegated statements) to the core metrics, presenting the most relevant metrics for the business or briefly explaining why a different approach is more appropriate
- Lending public support to this tool and encouraging business partners to do likewise
- Further promoting convergence of the existing ESG standards and principles towards the common metrics, so as to facilitate progression towards a globally accepted solution for non-financial reporting
The metrics, derived from existing disclosures and standards, offer a core set of twenty-one common and comparable indicators focused on People, Planet, Prosperity and Principles of Governance, aspects that are considered central to business, society and the Planet, and which companies can report on regardless of their sector or region.
Integrating the metrics into our values
The four pillars of the metrics, People, Planet, Prosperity and Principles of Governance, are already part of our mission and our way of operating.
We want to be measurable and transparent in our decarbonization strategy - accounting for the greenhouse gas emissions generated along the entire value chain - as well as in the activities we carry out with our people and the communities that host us.
Sustainability is key to create value
Eni has joined the agreement to support the Stakeholder Capitalism Metrics as confirmation of the importance of environmental, social and governance (ESG) performance for our business model.
Today, we are already ranked as a leader in the main international ESG ratings and we are recognised in the reference ESG indices. In addition, we have also been recognised by specialised research institutes.
This initiative is in line with Eni's reporting activities. Most of the indicators are already included in Eni's Integrated Annual Report, which is prepared as an integrated report. Indeed, Eni began the process of integrating non-financial information into its financial statements with the publication of the first integrated financial statement in 2011.
Eni has always supported initiatives that favour ESG performance standardisation and comparability, as demonstrated for example by the company's commitment to the Task Force on Climate Related Financial Disclosure of which Eni is a member.
By joining the Stakeholder Capitalism Metrics, we can share in a universal and comparable method for measuring the results achieved in these areas, further improving the transparency of reporting for investors and all stakeholders.
Sustainability in all its forms is integrated into our mission, which is directly inspired by the United Nations Sustainable Development Goals (SDGs) .
The importance we place on sharing methods and solutions on these issues can also be seen in our path of common growth and development involving our suppliers, where we ask them to share new ideas and experiences, together with values and objectives, on environmental, social and economic sustainability issues.
In particular, with the Open-es digital platform, Eni intends to immediately promote the adoption of the Stakeholder Capitalism Metrics with its suppliers and all players involved in the energy transition process.
Indeed, the Open-es ESG data model will be based on the core metrics defined in the WEF Measuring Stakeholder Capitalism initiative, with a simple and flexible approach suitable for all companies in the energy industry, from SMEs to the big players.
Open-es, created by Eni in partnership with BCG and Google Cloud, will be open to all companies that share these principles and will guide them on a path of growth and development on the values of sustainability, aimed at a widespread awareness throughout the value chain.
Read more on sustainability at Eni
Selected contents on this issue.