Member of the ACIG Board Aleksey Shipov takes part in the workshop "New Vision of the Value of Companies and the Future of Markets: the Role of Sustainable Development Ratings"

On September 30, 2013, the workshop "New Vision of the Value of Companies and the Future of Markets: the Role of Sustainable Development Ratings" organized by the Russian Union of Industrialists and Entrepreneurs, the European University in St. Petersburg and the Global Initiative for Sustainability Ratings (GISR) was held. Member of the ACIG Board Aleksey Shipov took part in the workshop.

At the workshop, Vice President of Tellus Institute, GISR Founder, Steering Committee Co-Chair and Director of Technical Programs, Co-Founder and former CEO for the Global Reporting Initiative (GRI) Allen White held a webinar and presented the GISR stance and the architecture of a global standard in this field which is under development by the international group of experts at the moment.

Publishing sustainable development ratings which estimate environmental, social and managerial aspects of companies’ activities can have a direct impact on their reputation, capital dotation costs and relations with consumers, business partners, authorities and society. It is suggested that starting from 2015 sustainable development ratings should be drawn up according to an approved transparent and reliable method stipulated in a global standard.

At the workshop participants also exchanged opinions on development of ratings as an instrument of assessment and influence. They agreed on the point that in the nearest future sustainable development ratings can become a powerful analytical tool for promoting corporate responsibility principles, effective and ethical corporate governance and management and financial markets recovery.