In 2017, CEOs from the World Economic Forum’s International Business Council (WEF/IBC) issued the “Compact for Responsive and Responsible Leadership”, which was signed by more than 140 CEOs. The Compact states that “society is best served by corporations that have aligned their goals to the long‑term goals of society” and identifies the UN Sustainable Development Goals (SDGs) as the roadmap for such alignment.
In 2019, the WEF/IBC launched a project for how its members could measure and disclose meaningful and relevant aspects of their performance on environmental, social and governance matters and their contribution to progress on the SDGs on a consistent and comparable basis.
In January 2020, the WEF/IBC launched a white paper titled “Toward Common Metrics and Consistent Reporting of Sustainable Value Creation” with a first proposal for a common, core set of metrics and recommended disclosures that IBC members could use to align their mainstream reporting. The report incorporated well‑established metrics and disclosures for the express purpose of building upon the extensive and rigorous work that has already been done by existing reporting standards.
Following a period of dialogue between the WEF/IBC and companies during the spring and summer 2020, the “Measuring Stakeholder Capitalism - Towards common metrics and consistent reporting” report was published in September 2020, which included 21 core ESG metrics and 34 expanded metrics, along 4 pillars: Governance, Planet, People and Prosperity.
TotalEnergies supports the World Economic Forum’s initiative to propose common ESG metrics for all companies and started to report on the WEF/IBC’s proposed core metrics in its 2020 annual report.