The Group of Friends of Paragraph 47 was formed by the governments of Brazil, Denmark, France and South Africa in June 2012 following the acknowledgement of the importance of corporate sustainability reporting in Paragraph 47 of the outcome document of the United Nations Conference on Sustainable Development (Rio +20). The group is supported by the UN Environment Programme (UNEP) and the Global Reporting Initiative (GRI) in a secretariat capacity. Its founding member governments are all pioneers in sustainability reporting practice and policy.
The Group’s Charter was published on 7 November 2012. It reaffirms the Group’s intention to contribute to the advancement of an international culture of corporate transparency and accountability. The key points are:
The recognition that governments have a primary role to play in moving society towards a sustainable model of development, given their access to soft and hard instruments that can positively influence corporate behavior
The intention to bring governments and other stakeholders together to develop best practice examples of policy and regulation for promoting corporate sustainability reporting
That corporate sustainability reporting should become a widespread practice to allow for a transparent, well-functioning market economy and for the private sector to contribute to sustainable development
To promote the use of, and build upon, existing and widely-used sustainability reporting guidance, such as principles, indicators, and frameworks
Developing countries and Small and Medium Enterprises (SMEs) will be given particular attention in progressing on sustainability reporting if needed
For information on the Group’s activities, please contact email@example.com.