Trust is vital for society and for the global economy to function successfully and efficiently given the fast pace of change in the world today. The economic crisis that began in 2008 continues to challenge us today in part due to (a) the diminished sense of trust between businesses and their stakeholders, and (b) the lack of trust in the data on which businesses report performance and make decisions.
The performance of companies in the area of sustainable development is currently evaluated using the data provided on their website, in their Annual Report and in their Sustainability / CSR Report. Rating agencies rework and interpret the elements provided using criteria and methodologies they have developed in-house to rank companies’ results. It is widely recognized that the approach adopted by rating agencies presents a number of signifi cant shortcomings. The book aims to illustrate the role and functionalities of a robust Global Sustainability Index (GSI) that overcomes these limitations and allows companies to be ranked in a transparent and pertinent manner.
Our goal is to build a global sustainability index to demonstrably increase trust in corporate and business sustainability data and, importantly, allow companies to be compared with others in the same sector driving consciousness and investment. In this way companies working to develop win-win scenarios can be clearly identified (and recognized / rewarded) and those attempting greenwashing exposed. To this end, the GSI will benefit business leaders’ decisions as well as economic and political relations, and consequently the global economy – not to mention society as a whole.