Ecolab Commits to World Economic Forum’s Stakeholder Capitalism Metrics
Metrics will help Ecolab and other businesses improve environmental, social and governance (ESG) performance and measure long-term enterprise value creation
ST. PAUL, Minn.--(BUSINESS WIRE)-- Ecolab Inc., the global leader in water, hygiene and infection prevention solutions and services, has committed to utilizing the Stakeholder Capitalism Metrics released by the World Economic Forum and its International Business Council to help further advance the company’s environmental, social and governance (ESG) performance.
The Stakeholder Capitalism Metrics are a set of 21 core universal and comparable disclosures focused on people, planet, prosperity and principles of governance that are considered most critical for business, society and the environment, regardless of region or industry.
“For businesses to be successful long-term, in addition to generating economic value, we need to focus simultaneously on the well-being of our people, on the health of our communities and the environment and our use of natural resources,” said Ecolab Chief Executive Officer Christophe Beck, one of 61 business leaders to commit to the metrics. “We strive to be a leader in these areas, and the Stakeholder Capitalism Metrics will further strengthen ESG benchmarking, the development of best practices, decision-making and accountability, and drive greater impact for the benefit of all.”
The World Economic Forum, in collaboration with Bank of America, Deloitte, EY, KPMG and PwC, curated the 21 core and 34 expanded metrics over the past two years with support from more than 140 stakeholders. The metrics were intentionally built around existing standards and are supported by several leading ESG reporting organizations as a consistent way to help track progress on sustainability matters and enhance transparency and accountability for the shared and sustainable value companies create. The metrics include non-financial disclosures, such as greenhouse gas emissions, pay equality, board diversity and others.
Business leaders that commit to the Stakeholder Capitalism Metrics are reinforcing the importance of environmental, social and governance factors to the success and long-term viability of all businesses. Ecolab has committed to being a sustainable and socially responsible company, and to operate with care and concern for the well-being of people and communities.
“Stakeholder capitalism becomes now really mainstream,” said Klaus Schwab, founder and executive chairman of the World Economic Forum. “The public commitments from companies to report not only on financial matters, but also their ESG impacts are an important step towards a global economy that works for progress, people and the planet.”
For more information on the World Economic Forum’s Stakeholder Capitalism Metrics, visit www.weforum.org/stakeholdercapitalism.
About the Measuring Stakeholder Capitalism Initiative
The Stakeholder Capitalism Metrics, deliberately drawn from existing standards, focus on the four themes of Principles of Governance, Planet, People and Prosperity. In 2020, following a six-month consultation process with more than 200 companies, investors and interested parties, a refined set of 21 core and 34 expanded metrics and disclosures were presented in the report Measuring Stakeholder Capitalism: Towards Common Metrics and Consistent Reporting of Sustainable Value Creation.
A trusted partner at nearly three million commercial customer locations, Ecolab (ECL) is the global leader in water, hygiene and infection prevention solutions and services. With annual sales of $13 billion and more than 45,000 associates, Ecolab delivers comprehensive solutions, data-driven insights and personalized service to advance food safety, maintain clean and safe environments, optimise water and energy use, and improve operational efficiencies and sustainability for customers in the food, healthcare, hospitality and industrial markets in more than 170 countries around the world. www.ecolab.com
Source: Ecolab Inc.