HRH The Prince of Wales Addresses Rio +20 - Measuring What Matters: June 2012, Brazil

A4S held a successful side event entitled "Measuring What Matters: A Coherent Global Framework - Aligning performance indicators for global sustainable development, national Beyond GDP metrics and improved corporate reporting" at Rio Centro on 20th June 2012. The event sought to drive collaboration between the key actors involved in developing performance measurement systems and metrics at a global, national and corporate level. Over 250 stakeholders, including ministers, corporate representatives and NGOs, attended the event. The event featured prominent speakers who are involved in developing better performance metrics to discuss how a roadmap from Rio can create an overarching framework for measuring progress. The event focussed on the three major proposals in the negotiating text: 1. The momentum for a set of goals at the global level that focus on sustainable development 2. Proposals for a set of national performance metrics that go beyond GDP 3. The call for more integrated and robust corporate reporting that helps to redefine business value Our proposition is that in order for these metrics to be transformational, they need to be aligned against the same broad objectives such that they work together to drive change. Work on improved performance measures has been ongoing for some time, and was a key part of the conference discussions. However, crucially, if such metrics are to be transformative, then we must ensure that the goals each level of our economy are aligned such that they work together to drive change. By aligning the information used by governments, businesses, investors and other stakeholders around the same broad objectives, decisions made at each level of our economy should reinforce, rather than contradict, those at other levels. Speakers included: • His Royal Highness The Prince of Wales (via video message) • Caroline Spelman, Secretary of State for the Department of Environment, Food and Rural Affairs, UK • Paula Caballero, Director for Economic, Social and Environmental Affairs for the Ministry of Foreign Affairs, Colombia • Majid Al Suwaidi, Ministry of Foreign Affairs, United Arab Emirates • Dasho Karma Tshiteem, The Secretary of the Gross National Happiness Commission of the Royal Government of Bhutan • Oliver Greenfield, Convenor of the Green Economy Coalition • Paul Druckman, Chief Executive Officer, International Integrated Reporting Council (IIRC) • Ernst Ligteringen, Chief Executive, Global Reporting Initiative (GRI) • Philippe Joubert, Senior Advisor, World Business Council for Sustainable Development (WBCSD) Welcome by Sarah Nolleth, Director, The Prince's Accounting for Sustainability Project. The event was organised by His Royal Highness The Prince of Wales's Accounting for Sustainability Project, The International Integrated Reporting Council, The Green Economy Coalition and Stakeholder Forum. For more information visit http://bit.ly/I9imYK Join us on twitter at http://www.twitter.com/princesa4s