DP World publishes Sustainable Development Impact Disclosure
DP World has published a Sustainable Development Impact Disclosure (SDID), making it the first company globally to adopt and disclose on its development impact in countries of focus in accordance with the recently released impact disclosure guidance from the Impact Disclosure Taskforce.
DP World has invited industry participants and practitioners to share their feedback during a four-month public consultation period, from 18 April to 1 September, to shape and refine the guidance, it said in a communique.
The disclosure serves as a framework for private sector companies and sovereigns to demonstrate how they drive transformation through large-scale infrastructure development into emerging markets and developing economies.
Mr Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO, said: “I am immensely proud to announce the publication of our new Sustainable Development Impact Disclosure, which embodies our commitment to changing what’s possible through infrastructure development. This disclosure not only demonstrates our commitment to sustainable development but also sets a path for industry-wide accountability. It’s a call to action, to catalyse positive change and drive sustainable infrastructure development on a global scale.”
The SDID, which was developed in line with recent disclosure guidance from the Impact Disclosure Taskforce – led by JP Morgan Development Finance Institution and Natixis - uses impact measurement and monitoring to assess the impact of investments in advancing the UN’s Sustainable Development Goals and closing existing development gaps. It fosters transparency and accountability and genuine commitment to sustainable development, while empowering global capital markets to make informed financing decisions based on reliable, publicly disclosed information.
By leveraging existing best practices and resources, a five-step process has been defined to measure and disclose the impacts of business strategies or national development plans.
The SDID is characterised by being entity-level, impact-oriented, forward-looking and context-specific.
DP World and the Taskforce welcomes feedback on the SDID and invites the industry to contribute their insights to further enhance the effectiveness of the guidance. Experts and relevant stakeholders are encouraged to provide feedback by visiting www.orrick.com/IDTfeedback by September 1, 2024, the communique added.
source: Exim News Service: Dubai, April 22