GRI Honored for Advancing Sustainability Reporting in Latin American SMEs

GENEVA, Switzerland, 9 December 2024 – ​The Competitive Enterprise Programme, ​led by the Network of ​the Global Reporting Initiative (GRI) of Latin America and supported by the Secretariat of State ​for Economic Affairs of the Swiss Confederation (SECO), received ​international recognition at the United Nations Honour ​Ceremony on International Standards of Accounting and Reporting (ISAR). This initiative aims to improve ​sustainability practices in small and medium-sized enterprises (SMEs) in global value chains.

Since its inception in ​2016, the programme has recruited ​more than 3,200 companies, 92% of which are ​SMEs operating on international supply networks. By helping these companies to assess and disseminate their ​economic, social and environmental impacts, the Competitive Enterprise Program has strengthened ​transparency and accountability as essential elements of modern corporate resilience and risk ​management.

ISAR recognition and honours

The honours of ISAR, ​established by the United Nations ​Conference on Trade and Development (UNCTAD), highlight the ​outstanding contributions to reporting on sustainable ​development and sustainable development ​goals, particularly among SMEs and developing economies. This ​year’s award highlights the ERM’s ​long-term efforts to integrate transparency and ​accountability into global business practices.

Andrea Pradilla, Director of GRI Latin America, welcomed this success by ​saying: “Thanks ​to our business program ​on competitiveness, we have supported thousands of SMEs in their information travels over the last eight ​years, demonstrating the importance of sustainability reporting to address risks within supply chains ​and improve business resilience

This marks ISAR’s fifth honour for the MCE, after the ​approval of initiatives such ​as the SDG Corporate Tracker in Colombia (2022) and ​collaborations with ​the Philippine Securities and Change ​Commission (2019).

Empower SMEs in sustainability reports

SMEs often ​face difficulties ​in implementing sustainability reports due to limited resources, expertise and access to global frameworks. GRI programs, including Competitive Business and Discovery GRI initiatives, address these barriers ​by ​providing tools, training and resources tailored to the specific ​needs of these companies.

By adopting ERM standards, companies can not only improve their reporting capabilities, but ​also align their activities ​with global sustainability goals. This ​alignment has been essential ​to build confidence and competitiveness in international markets, as stakeholders increasingly demand corporate transparency.

A growing legacy of transparency

The continued ​recognition of ​enterprise risk management by international organizations underscores its fundamental role in promoting corporate sustainability worldwide. Over the years, ​their efforts have ​facilitated the inclusion ​of SMEs in ​the broader sustainability dialogue, ensuring that they make a significant contribution to global development goals. This approach is particularly vital in regions such as Latin America, where SMEs are critical drivers of economic growth and employment.

The Enterprise Competitiveness programme illustrates the ERM’s mission of democratising access to sustainability frameworks, allowing companies of all sizes to accept transparency and accountability. As the programme continues to ​evolve, its impact on regional ​and global value chains should drown and promote ​more sustainable business ecosystems.

Recognition at the ISAR honour ceremony not only validates the work ​of ​the IGR, but also recalls the collective responsibility to integrate ​sustainability at the heart of business practices, ensuring a resilient and equitable future for all.