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Dialogue and research: The development of a benchmark’s methodology typically starts with the WBA Secretariat either developing or commissioning a methodology outline.
Methodology development and review: This outline is then reviewed and discussed with the Expert Review Committee (ERC).
Based on the ERC’s feedback, the methodology is finalised and opened for public consultation, after which it is updated, reviewed by the ERC again and published.
Data collection: Data is collected based on the methodology through an online data platform. The form is pre-populated with publicly available information and sent to directly to companies in scope to complete.
Verification and analysis: Once all of the data is received, it is analysed and verified. Following this the scoring guidelines are finalised and the report is written
The ERC is consulted prior to the publication of the report to review and provide input on the benchmarks key findings, lessons learned and the report’s recommendations. The final report and rankings are then made public.
Stakeholder dialogues are an essential way to evaluate and discuss the results of the benchmarking cycle. Based on the feedback received during these dialogues, a revision of the benchmark is developed by the WBA secretariat and the development cycle restarts.
Aviva is one of the world’s largest insurance and asset management companies, its history tracing back more than 300 years. It has operations in 16 markets around the world, but through its investment portfolio, Aviva’s reach extends to a broader and larger group of consumers. The company is a LEAD member of the Global Compact; a founding member of both the UN Principles of Responsible Investment and the UN Sustainable Stock Exchange Initiative. It is also a frontrunner in responsible investments, using its influence to support more sustainable business and ultimately a more sustainable economy and society. Aviva is an active contributor and user of different corporate sustainability benchmarks, including a founding member of the Corporate Human Rights Benchmark. Aviva’s CEO Mark Wilson is a member of the Business and Sustainable Development Commission (BSDC) and is personally committed to driving forward the sustainable development agenda and the creation of the WBA.
The Business & Sustainable Development Commission (BSDC) aims to make a powerful business case for achieving a sustainable, inclusive economy. Its flagship report Better Business, Better World, launched in January 2017, maps the economic prize for companies that align with the SDGs, and shows how to achieve them. The report includes the creation of SDGs benchmarks as one of the key recommendations. The Business Commission aims to make a powerful business case for achieving a sustainable and inclusive economy, if the UN Sustainable Development Goals are achieved. In its flagship report, Better Business, Better World, the Commission describes how business can contribute to delivering these goals. Chaired by Lord Mark Malloch-Brown, the Commission include 37 leaders from business, finance, civil society, labour, and international organisations from around the world.p>
Index Initiative is a centre of expertise in benchmarking corporate performance against stakeholder expectations. It seeks to propel the use of benchmarks to engage and bring purpose and clarity on the role of companies in contributing to the SDGs closest to their core business. A non-profit based in Amsterdam, The Netherlands, Index Initiative’s research and benchmarks are free and accessible to all. Index Initiative will conduct the global consultation on the World Benchmarking Alliance.
The United Nations Foundation builds public-private partnerships to address the world’s most pressing problems, and broadens support for the United Nations through advocacy and public outreach. Through innovative campaigns and initiatives, the Foundation connects people, ideas, and resources to help the UN solve global problems. The Foundation was created in 1998 as a U.S. public charity by entrepreneur and philanthropist Ted Turner and now is supported by philanthropic, corporate, government, and individual donors.