Video Interview: Mike Wallace of GRI at the New Economics Institute Strategies for a New Economy Conference
Recorded live at the New Economics Institute Strategies for a New Economy Conference on June 9, 2012, Mike Wallace speaks about how his work as Director of Focal Point USA for the Global Reporting Initiative, which provides sustainability reporting standards and guidelines, advances the new economy movement. "Unless we have data that's comparable put out in a standardized form, we can't make any decisions or pass any judgments" about sustainability, says Wallace. He points out that stock exchanges around the globe are starting to require their listed companies to provide environmental, social, and governance (ESG) data using GRI reporting guidelines, and Bloomberg, the business and investment information company, now includes ESG data on 300,000+ terminals worldwide. Finally, the US government is taking important strides into sustainability reporting with an executive order "that basically says, if you are a federal agency or department, you need to produce a strategic sustainability performance plan -- that's fabulous!" says Wallace. "But if you look at the fine print, you'll see that their definition of sustainability is about energy, waste, and water. But sustainability is about much more than just energy, waste, and water." Wallace points out that currently between 12 and 18 federal agencies or departments produce sustainability reports of one form or another using GRI guidelines, but there's still a long way to go before the US governent reports on sustainability comprehensively in a standardized way.
Mike Wallace is the Director of the Global Reporting Initiative's Focal Point USA. His primary task is the implementation of the Focal Point program in the United States and Canada. With almost 20-years of international experience in the sustainability field, he has lived and worked in Australia and Europe. Mike has worked with corporations, non-profits, and government agencies on the development, implementation, and integration of sustainability programs. A recognized expert in the field, he speaks and writes internationally on the subject of sustainability and reporting and has specific expertise in how the financial markets use sustainability information.
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