19 November 2013: At its annual meeting, the World Business Council on Sustainable Development (WBCSD) presented its Action2020 plan, launched its first review of corporate non-financial reporting, addressed science as the basis for action, approved changes to the organization’s governance and supervisory body, and appointed Paul Polman, CEO of Unilever, as new Chairman of the Council and its supervising body, the Executive Committee.

The meeting took place in Istanbul, Turkey, from 4-8 November 2013, bringing together over 500 CEOs, senior executives, and members of the Council’s regional network partners from more than 50 countries, to generate business solutions to global sustainable development issues.

The framework ‘From Vision 2050 to Action2020’ aims to rally business to deliver on the economic, environmental and social promises made in the Council’s 2009 report, ‘Vision 2050,’ which plots a pathway to a world in which people live well and within planetary boundaries. Action2020 consists of: societal/planetary goals to be met by 2020; business solutions to meet one or more of the goals; and impact measurement and action monitoring to assess progress at company, sector, and/or country level.

The ‘Reporting Matters – WBCSD 2013 Baseline Report’ is an independent research project conducted in response to the need for transparent and effective non-financial reporting. The review: sheds light on effective non-financial reporting practices; offers examples to stimulate the sharing of best practices; provides recommendations so corporate reports can help companies create value for all stakeholders; and focuses on report users’ experiences.

WBCSD President Peter Bakker said reporting practices must change to ensure that businesses are valued baseed on what is important, and that sustainable companies are better recognized and rewarded. [Meeting Website] [Action2020 Website] [Publication: Reporting Matters – WBCSD 2013 Baseline Report] [WBCSD Press Release on ‘Reporting Matters’] [WBCSD Press Release on Organizational Decisions]