On October 18th, 2023, Sophia University hosted a seminar titled “SDGs, ESG Management and Sustainability Information Disclosure featuring Mr.Eelco van der Enden, the CEO of Global Reporting Initiatives (GRI). This seminar delved into critical themes concerning the significance of corporate ESG management, the global trend of sustainability information disclosure, and the role GRI plays in the sustainability reporting landscape. And this seminar was supported by International Development Center of Japan.

The event commenced with a lecture delivered by Mr. van der Enden, titled “The Future of Sustainability Reporting.” Mr. van der Enden introduced the influential actors in the ESG and sustainability reporting landscape, including reporting standards, frameworks developers, rankers & raters, the public sector, financial services, audit and the legal profession, asset owners and managers, and more. The lecture also explored the two pillars of reporting governance structure, single-materiality (focusing on the financial implications of sustainability issues on enterprise value creation) and double-materiality (focusing on both financial and impact materiality which considers a company’s impacts on the environment, society, and the economy).

Following the lecture, Professor Masafumi Hikima moderated the discussion posing two thought-provoking questions: “Why has non-financial reporting become so important?” and “Will double materiality become the global standard?”. These questions prompted participants to think more deeply about the topic.

The seminar’s final phase opened the floor for questions and comments. Participants ranging from students, faculty members to professionals, engaged in an interactive session with Mr. van der Enden. Some of the noteworthy questions raised included inquiries about why Japanese companies particularly emphasize double materiality and the affordable infrastructures available to start-ups and SMEs in the realm of sustainability reporting.

With Mr.van der Enden’s expertise and the active engagement of participants, this seminar provided valuable insights into the evolving landscape of sustainability reporting and left us with a food for thought on the future of ESG and sustainability considerations within the corporate world in shaping a more sustainable future.