The WBCSD is calling on businesses to commit to reaching net-zero greenhouse gas emissions by no later than 2050. Businesses will need “science-informed” plans in place to reach net-zero. Businesses will also need to declare support for the UN Guiding Principles on Business and Human Rights by creating policies to respect human rights and a set up a human rights due diligence process.
To mark the organization's 25th year of working on accelerating the transition to a sustainable world, the new criteria confirms the position of WBCSD as the leading business organization where companies turn their organizational and (cross-)sectoral and collaborative sustainability ambitions into reality.
The set of five new comprehensive criteria are:
- Set an ambition to reach net zero greenhouse gas (GHG) emissions, no later than 2050 and have a science-informed plan to achieve it.
- Set ambitious, science-informed, short and mid-term environmental goals that contribute to nature/biodiversity recovery by 2050.
- Declare support for the UN Guiding Principles on Business and Human Rights by having in place a policy to respect human rights and a human rights due diligence process.
- Declare support for inclusion, equality, diversity and the elimination of any form of discrimination.
- Operate at the highest level of transparency by disclosing material sustainability information in line with the Task Force on Climate-related Financial Disclosures (TCFD) and align Enterprise Risk Management (ERM) with environmental, social and governance-related (ESG) risks.
The five criteria address the top-three priorities in sustainability challenges: climate emergency, nature loss and inequality. Additionally, WBCSD expects its member companies to strive to the highest standards in corporate governance and transparency, aimed at enhancing the comparability of data for investors and other stakeholders.
Read more about it here.