For the World Benchmarking Alliance, corporate accountability is a process that helps companies to transform so that they play their part to help build a fairer and more sustainable world.
To be effective, corporate accountability requires all stakeholders to act within their sphere of influence to make the impact that companies are having on people and planet consequential to their success; to incentivise companies to change, by rewarding the leaders and penalising the laggards.
What is the World Benchmarking Alliance's role in the corporate accountability process?
Firstly, it’s to research and analyse the impact of companies on people and planet though our benchmarks, which reflect the voices and needs of those who are most affected by the decisions of companies. We make our benchmark free and publicly available to everyone so that all stakeholders can better understand and compare the impact of individual companies against their peers over time.
Secondly, we seek to empower stakeholders to use our benchmarks to make informed actions – rewarding companies who are transforming in line with global agendas such as the Sustainable Development Goals, and penalising the ones that are performing poorly or not complying with regulation.