Total Supports ESG Convergence by Committing to Stakeholder Capitalism Metrics
A growing coalition of top business leaders across industries announced on January 26th, 2021 their commitment to the Stakeholder Capitalism Metrics, a set of environmental, social and governance (ESG) metrics and disclosures released by the World Economic Forum and its International Business Council (IBC) in September 2020, that measure the long-term enterprise value creation for all stakeholders.
“At Total, we believe that transparency is an essential factor in building a trust-based relationship with our stakeholders. As such, Total has strongly supported the WEF’s stakeholder capitalism initiative from the beginning as WEF’s market-based initiative represents an important step towards establishing a commonly accepted ESG reporting framework for all companies. In compliance with existing European and French legal frameworks, Total has a longstanding practice of publishing ESG information in its annual report (since 2012). In addition, Total is also using most of the prominent voluntary reporting frameworks (in particular TCFD and SASB). Total has committed to reference the WEF proposed core metrics in its 2020 annual report, which will be published in March, and to promote the further convergence of existing ESG standards”. Patrick Pouyanné, Chairman of the Board and CEO, Total S.E.