This report details the performance of 350 companies assessed in the Food and Agriculture Benchmark. The underlying datasets are available to download online: 2023 Food & Agriculture Benchmark ranking
We can be expecting many more of these benchmarks, across all sectors, when the ESRS reports – mandatory for companies subject to CSRD – are released.
Governance, Strategy and Impact, Risk & Opportunity management are key reporting areas in both the ESRS and ISSB-IFRS-S standards.
Governance & Strategy was also one of the 4 measurement areas in this benchmark.
It focused on the integration of sustainable development objectives and targets into companies’ core strategy, business model and governance structure.
The report explains that “it captures companies’ overall commitment to sustainable development, including whether the company’s highest governing board is responsible for leading its progress on sustainability targets, as well as its stakeholder engagement and lobbying activities”.
The number 1 (Unilever) in this benchmark scored 63.2 out of 100 on Governance & Strategy, number 35 (Carrefour) scored 42.5, number 183 (ICA Gruppen) scored only 18.8.
These are surprisingly low numbers, even for the top-performers. Just think about it: the score “captures companies’ overall commitment to sustainable development”.
If you are aiming for the world to trust that you are truly committed to sustainability, you need to focus on strategy and governance – it will set the pace for all the rest.
The standard-setters know this, which is why you will have to disclose in detail on these processes. They will also be key areas of scrutiny for your auditor following the instructions in IAASB 5000.
And there is no excuse for bad performance here.
Off-the-shelf – CSRD-compliant and ESRS-ready – sustainability strategy, governance & reporting software is available to help you.
It’s neither expensive, nor complicated and the ROI is very high – your chances of strategic success triple. You just need to really want to get better.
You are welcome to contact us if you want to know how.