In 2020, Crescent Petroleum became an early supporter of the World Economic Forum Stakeholder Capitalism Metrics initiative, which was launched at the WEF 2020 Annual Meeting in Davos. We joined 120 of the world’s largest companies to support efforts to develop a core set of common metrics and disclosures on non-financial factors for their investors and other stakeholders.
These core and expanded set of Stakeholder Capitalism Metrics and disclosures are intended to align companies’ mainstream reporting of environmental, social, and governance (ESG) indicators and to help track their contributions towards the SDGs on a consistent basis. The metrics are deliberately based on existing standards, to accelerate convergence of indicators among the leading private standard-setters and to effect greater comparability and consistency in ESG reporting and disclosure.
The project, developed within the International Business Council (IBC), a community of over 120 global CEOs, seeks to improve how companies measure and demonstrate their sustainability efforts, towards building a more sustainable relationship with our planet. In Appendix C of this report, we have referenced Crescent Petroleum’s alignment with WEF’s Stakeholder Capitalism Metrics.