The Global Reporting Initiative (GRI) announced that its Board of Directors has elected institutional investor Christianna Wood as its Chairman, effective 24 November 2013.
Ms. Wood is a member of the board of the International Integrated Reporting Council (IIRC) and the former Chairman of the International Corporate Governance Network (ICGN), a London based investor-led organization whose members collectively oversee $18 trillion in global assets under management. Previously, Ms. Wood oversaw the management of the $150 billion global equity portfolio of the California Public Employees’ Retirement System.
GRI is the global standard for sustainability reporting. Having released its fourth generation of Sustainability Reporting Guidelines (G4) in May this year, GRI provides the most widely adopted multi-stakeholder-based approach to sustainability reporting.
Outgoing GRI Chairman, Herman Mulder said: “With the integration of corporate governance and institutional investors in the recently released G4 guidelines and our stakeholder network, respectively, as well as Christy’s involvement in the IIRC, she is the perfect person to lead the GRI Board in the next phase. Her experience in overseeing the writing of numerous ICGN best practice guidance on behalf of global investors and leading the ICGN board is invaluable, particularly now as the landscape for integrated reporting takes shape. Christy’s appointment also reflects the importance of engaging with reporting organizations, stakeholders and regulators in the US market, which is key to achieving GRI’s mission to make sustainability reporting standard practice worldwide.”
Ms. Wood added: “It is an incredibly important time for investors to be heard as a growing number of companies look to integrate GRI sustainability reporting standards into integrated reporting. With over three quarters of the 4000 largest companies in the world already using GRI standards for sustainability reporting, all stakeholders have a vested interest in maintaining the highest standards of transparency and comparability in the evolution of global reporting.”
Mervyn King, the Chairman of the IIRC and Chairman Emeritus of GRI, said: “During my chairmanship of the GRI board I nominated Christy Wood, the Chairman of the ICGN, to the GRI Board. That nomination was and is a reflection of my trust and confidence in her making a strong and positive contribution towards promoting sustainability reporting. Her appointment now as Chairman of the GRI Board reinforces my belief.”
Paying tribute to the achievements of outgoing Chairman Herman Mulder, Ms. Wood said: “Herman Mulder’s contribution as Chairman of GRI has been tremendous. He leaves the Board and the organization primed and ready for the next phase where sustainability reporting will increasingly equip companies to recognize and manage the complexities of global environmental, social and economic relations and where reporting is set to become standard practice for large companies.”
Christianna “Christy” Wood has over 30 years experience managing performance-based capital on behalf of institutional investors in both public and private markets. Ms. Wood served on the Board of Governors of the International Corporate Governance Network from June 2008 until June 2012, having served as Chairman of the Board from June 2009 until June 2012. Ms. Wood is also a member of the Board of Trustees of Vassar College where she serves on the Investment, Audit, and Budget and Finance Committees and as Chair of the Investor Responsibility Committee. In addition to the Global Reporting Initiative, Ms. Wood is also a member of the boards of H&R Block Corporation, Grange Insurance, The Merger Fund, The International Integrated Reporting Council, and the International Securities Exchange. She was previously a member of the Financial Accounting Standards Board User Advisory Council (2005-2006), the Public Company Accounting Oversight Board Standing Advisory Group (2006-2008) and the International Auditing and Assurance Standards Board Consultative Advisory Group (2007-2009).
Ms. Wood obtained a Bachelor of Arts degree, cum laude, from Vassar College and a Masters of Business Administration degree in Finance from New York University.
GRI was started in 1997 in the United States and the GRI’s international secretariat is now based in the Netherlands with regional offices in the United States, Australia, Brazil, China, India and South Africa.
About GRI
The Global Reporting Initiative (GRI) promotes the use of sustainability reporting as a way for organizations to become more sustainable and contribute to a sustainable global economy.
GRI’s mission is to make sustainability reporting standard practice. To enable all companies and organizations to report their economic, environmental, social and governance performance, GRI produces free Sustainability Reporting Guidelines.
GRI is an international not-for-profit organization, with a network-based structure. Its activity involves thousands of professionals and organizations from many sectors, constituencies and regions.