DP World Leads Impact Disclosure with New Guide
DP World is leading the way in sustainable development reporting by becoming the first company to release a Sustainable Development Impact Disclosure (SDID).
This report details the company's impact on development in the countries it operates in, aligning with recent guidance from the Impact Disclosure Taskforce.
Open Dialogue for Improvement
DP World is committed to industry-wide progress. They have opened a four-month public consultation period (April 18th to September 1st) to gather feedback on the SDID framework. This feedback will help refine the guidelines for future use.
A Framework for Sustainable Development
The SDID offers a framework for companies and governments to showcase how large-scale infrastructure projects can drive positive change in developing economies. This framework uses impact measurement and monitoring to track progress towards the UN's Sustainable Development Goals (SDGs). This promotes transparency, accountability, and a genuine commitment to sustainable practices. Also, it empowers financial markets to make informed investment decisions based on reliable, publicly available data.
Building on Existing Practices
The SDID leverages existing best practices to define a five-step process for measuring and disclosing the impact of business strategies and national development plans.
Key Characteristics of the SDID
Entity-level: Focuses on the specific company or government implementing the strategy.
Impact-oriented: Measures the actual impact on development goals.
Forward-looking: Considers future outcomes of current actions.
Context-specific: Tailored to the unique circumstances of each project and location.
Invitation to Participate
DP World and the Taskforce encourage industry experts and stakeholders to provide feedback on the SDID framework. This feedback will be used to further improve the effectiveness of these guidelines. You can contribute your insights by visiting www.orrick.com/IDTfeedback by September 1st, 2024.
Arsalan Mahtafar, Co-Chair of the Impact Disclosure Taskforce and Head of J.P. Morgan’s Development Finance Institution: “By publishing its Sustainable Development Impact Disclosure, DP World demonstrates that it intends to manage its business to achieve both financial returns and development impact. I commend DP World for its commitment to promote sustainable and inclusive economic growth in places where it’s needed most to meet our global goals.”
Cedric Merle, Co-Chair of the Impact Disclosure Taskforce and Head of the Center of Expertise and Innovation within Natixis Corporate & Investment Banking’s Green and Sustainable Hub: “Natixis is pleased to have worked with DP World and JP Morgan in the first Sustainable Development Impact Disclosure. Testing the Sustainable Development Impact Disclosure Guidance will be instrumental to ensure it is delivering the information needed to meet specific SDG-related needs and expectations of investors and lenders. We hope that others will follow DP World’s example in disclosing not only their commitments but actions to foster sustainable development in emerging markets”
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Source: DP World
