HomeNewsDiplomatic NewsISAR Honours Winners announced by the UNCTAD

ISAR Honours Winners announced by the UNCTAD

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Geneva, 29 October 2021 (TDI): During the 7th World Economic Forum, the United Nations Conference on Trade and Development (UNCTAD) announced the winners of the 4th ISAR Honours. The head of UNCTAD’s investment research branch, Richard Bolwijn, was present.

The Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting, Honours; have a main goal. That is to raise awareness on national, and international practices on sustainability. The group also reports on sustainable development goals.

According to the note, the Honours recognize policy, institutional, and capacity-building initiatives that encourage and assist enterprises to publish data. That data is on their contribution to the implementation of the SDGs, and assist the government to collect data.

The Head of the UNCTAD division in charge of the awards, James Zhan, issued a statement. Zhan stated that global trends, emphasize the role of sustainability reporting in making the necessary transition, to a more sustainable economy.

Zhan added that it is critical for investors, and consumers, facilitate transparency and encourage sustainable production. He remarked that sustainability reporting is the foundation of sustainable investment.

ZHAN FINAL STATEMENT AND WINNERS OF ISAR HONOURS

Zhan also mentioned that markets require globally standardized sustainability disclosure to price capital; and also redirect it towards the SDG. Zhan noted that environmental, social, and governance products were expanding. ISAR received 40 nominations from 23 countries. Then from these 3 national, and 3 international initiatives won the honors.

The first international winner was the World Business Council of Sustainable Development. Then, in the second place, was Value Balancing Alliance. The final winner was the OECD Centre For Responsible Business Conduct.

Then the first national winner was FSR. The second was the Institute of Certified Public Accountants of Kenya and of Rwanda. Then the last one was the South African Institute for Business Accountants.

BOLWIJN STATEMENT AND ISAR BACKGROUND

The head of UNCTAD’s investment research branch, Richard Bolwijn, was also present. Bolwijn thanked the nominees for their interest, commitment, and efforts in enhancing the quality, and comparability of companies. He referred to the companies reporting their contribution to the 2030 Agenda for Sustainable Development.

ISAR was launched in 2018. Today, ISAR has nearly 150 nominated initiatives by organizations from 40 countries and represents six geographical regions. According to Zhan, this demonstrates progress in sustainability reporting.

Zhan also remarked that it also proved the growing commitment of stakeholders in the private, and public sectors. He then added that this commitment is towards the 2030 Agenda, despite the challenges of COVID-19.

Zhan stated that ISAR Honours could help States to identify, collect, share, and promote good practices. Finally, He also mentioned that ISAR could help them to develop case studies on those good practices, and enhance stakeholder dialogue.

Carla Esparza Arteaga
Carla Esparza Arteagahttps://thediplomaticinsight.com
International Relations student at the Universidad de Navarra in Spain. Main interests are the work of International Organizations like the UN in the scope of humanitarian assistance to vulnerable human beings and the environment

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