UAE – DP World has made headlines by becoming the first company in the world to publish a Sustainable Development Impact Disclosure (SDID).
This initiative follows the release of new impact disclosure guidance from the Impact Disclosure Taskforce.
The SDID acts as a framework for both private companies and sovereign entities to showcase how their large-scale infrastructure projects in emerging markets contribute to sustainable development.
It demonstrates the direct impact of their work on advancing the United Nations’ Sustainable Development Goals (SDGs) and closing existing development gaps.
The new disclosure reflects DP World’s commitment to sustainable development, according to Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO.
“This disclosure not only demonstrates our commitment to sustainable development but also sets a path for industry-wide accountability. It’s a call to action, to catalyze positive change and drive sustainable infrastructure development on a global scale,” he said.
The Impact Disclosure Taskforce, led by JP Morgan Development Finance Institution and Natixis, developed the SDID in collaboration with DP World.
By measuring and monitoring the impact of investments, the disclosure aims to foster transparency and accountability in sustainable development.
It provides information to empower global capital markets and aid in informed financing decisions.
DP World’s approach involves a five-step process that aligns with best practices and available resources to measure and disclose the impact of business strategies or national development plans. This process makes the SDID entity-level, impact-oriented, forward-looking, and context-specific.
DP World and the Taskforce are calling for feedback from industry participants during a four-month public consultation period, running from April 18 to September 1.
Feedback will help shape and refine the guidance and ensure it meets specific Sustainable Development Goal-related needs and expectations of investors and lenders.
Those interested can provide feedback by visiting www.orrick.com/IDTfeedback by September 1, 2024.
Arsalan Mahtafar, Co-Chair of the Impact Disclosure Taskforce and Head of J.P. Morgan’s Development Finance Institution, praised DP World’s initiative.
“By publishing its Sustainable Development Impact Disclosure, DP World demonstrates that it intends to manage its business to achieve both financial returns and development impact. I commend DP World for its commitment to promoting sustainable and inclusive economic growth in places where it’s needed most to meet our global goals,” he said.
Cedric Merle, Co-Chair of the Impact Disclosure Taskforce and Head of the Center of Expertise and Innovation within Natixis Corporate & Investment Banking’s Green and Sustainable Hub, emphasized the importance of this collaboration.
“Natixis is pleased to have worked with DP World and JP Morgan in the first Sustainable Development Impact Disclosure. Testing the Sustainable Development Impact Disclosure Guidance will be instrumental to ensure it is delivering the information needed to meet specific SDG-related needs and expectations of investors and lenders. We hope that others will follow DP World’s example in disclosing not only their commitments, but action to foster sustainable development in emerging markets,” Merle said.
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