Achieving transparency in Latin American SMEs
Published date: 09 December 2024
GRI regional program to boost sustainability practices in global value chains recognized by the UN
The Competitive Business Program, an initiative led by the GRI Latin America network with support from the Swiss Confederation’s State Secretariat for Economic Affairs (SECO), has been awarded at the International Standards of Accounting and Reporting (ISAR) Honours Ceremony in Geneva, Switzerland.
The Competitive Business Program is designed to increase the effectiveness of small and medium-sized enterprises (SMEs) by helping them to assess and disclose their economic, social and environmental impacts . Since its launch in 2016, the program has engaged over 3,200 companies – many of which are new to sustainability reporting, and of which 92% are SMEs active in global value chains.
The ISAR Honours is an initiative by the UN Conference on Trade and Development (UNCTAD) that aims to raise awareness and facilitate dissemination of national and international best practices on sustainability and SDG reporting as an integral of corporate reporting, particularly among SMEs and in developing economies.
We are thrilled that a Latin America-led initiative has received an ISAR Honours award for the second time, following recognition two years ago for the SDG Corporate Tracker platform. Through our Competitive Business Program, we have supported thousands of SMEs in their reporting journeys over the past eight years, showcasing the importance of sustainability reporting in addressing risks within supply chains and improving business resilience.
Andrea Pradilla, Director GRI Latin AmericaThis is the fifth ISAR Honour received by GRI and regional partners for efforts to enhance sustainability reporting around the world. Previously, GRI has been acknowledged for the Business Leadership Forum on the SDGs (2023), the SDG Corporate Tracker in Colombia (2022), collaboration with the Colombo Stock Exchange in Sri Lanka (2020) and the engagement with the Philippines Securities and Exchange Commission (2019).
Through various initiatives, such as the Competitive Business and the Discovering GRI programs, GRI Latin America actively engages both experienced and first-time reporters to promote sustainability reporting and the use of GRI Standards.