The Brazilian stock exchange is calling on listed companies to publish sustainability reports as the country prepares to host the key Rio+20 summit later this year.
BM&FBOVESPA is recommending that as of this year, companies issue sustainability reports – or explain why they do not. The objective is to encourage listed companies to report information.
The exchange wants to contribute to a “growing international trend” and cites the Johannesburg Stock Exchange, which made sustainability reporting a listing requirement in 2010.
It is mandatory for listed companies in France and Denmark, and for state-owned enterprises in Sweden, BM&FBOVESPA said, adding that the European Union is also considering mandatory sustainability reporting.
“This report-or-explain initiative will encourage the adoption of sustainability reporting by a steadily growing number of listed companies,” the exchange said.The goal is to make the data publicly available at Rio+20, the United Nations Conference on Sustainable Development in Rio de Janeiro in July. The event takes place 20 years after the ‘Earth Summit’ in the city in 1992. The exchange will hold training workshops for companies later this month in partnership with the Global Reporting Initiative.
“This report-or-explain initiative will encourage sustainability reporting”
Earlier, the exchange said it has donated part of the profits from its December 13 trading session to all the NGOs listed on BVS&A, the Environmental & Social Investment Exchange.
Brazil has 55 signatories to the UN Principles for Responsible Investment, including BM&FBOVESPA. There are 16 asset owner signatories. Link