Following the Global Reporting Initiatives (GRI) and Indonesia Global Compact Network (IGCN) “Sneak-peek session on the tools: Practical Guide to business reporting on the SDGs” on 12th July 2018, GRI and IGCN continued the collaboration to ensure that private sectors contribution to SDGs and their commitment to sustainable business practices are recorded and reported accordingly.
Learning that Indonesia will present the state report on SDG progress in the 2019 Voluntary National Reports (VNR) at the High Level Political Forum on Sustainable Development (HLPF), GRI and IGCN took this opportunity to ensure that the contribution of private sectors to the SDGs agenda are also included in the Indonesia’s report.
Tim J. Mohin expresses ”GRI has 70 plus percent adaptation in private sectors and corporates, well accepted across the world. That shows that report is not just the report, but it is a standard showing the process towards SDGs.” He also explains that GRI is working with many sectors for reporting, “Right now, we (GRI) work with SMEs, public limited corporates and IDX to share the knowledge of sustainability to public. We share on what to do for reporting through coaching to set up the basic data collection and knowledge to facilitate reporters.”
This closed discussion invited IGCN members to knowledge sharing and discussion session on how corporate’s sustainability practices create competitive advantages and meaningful contribution to the sustainable development goals.
Prior to this event, GRI collaborated with Indonesia Stock Exchange (IDX), American Enterprise Institute (AEI) and IGCN to hold another discussion themed “The Roles of CEO and CFO in advancing sustainable business practices and contribute to SDGs”. The aim of this session is to further facilitate learning experience between reporting and non-reporting companies, particularly after the implementation of the regulation POJK 51/2017 of the Indonesia’s Financial Service Authority on sustainability reporting. With the issuance of POJK 51/2017, Publicly Listed Companies are required to disclose about their impacts on social, economic and environment issues. The enactment of this regulation coincides with the significant engagement of private sectors in contributing to Sustainable Development Goals (SDGs).
Sustainability Reporting is one way to capture private sectors contribution to the SDGs and explore how corporation transforms their business practices to be more sustainable and generating positive impacts to society and environment. At present Indonesia’s Financial Service Authority (OJK) has recorded only 9% of listed companies submitting their sustainability report in 2017. For this reason, it is indeed a strategic move to enhance the capacity of the respective 91% of public listed companies to start their Sustainability Reports (SR).