Transcript Slide 1

Corporate Responsibility
Exchange
Paul Rennison – London Stock Exchange
PROBLEM TO SOLVE
 Started with research into the problem of “questionnaire fatigue” for
companies
 Companies on average receiving 7 questionnaires relating to CG,CSR
etc pa
 Average of 7 man days per month spent responding this stakeholder
group
 Realised there are information asymmetries that impact on the needs
of institutions as well
 Briefly: some of the research findings
Proportion of Repetition in Questionnaires
37%
24%
19%
11%
6%
0-10%
4%
11-25%
26-50%
51-75%
76-90%
90-100%
• Questionnaires are found by the majority to be highly repetitive – over three-quarters
of respondents believe over 50% of the average questionnaire is a repetition of information
previously given
APPROACH
 Developed a normalised set of questions which map across to the key
codes, guidelines and questionnaires currently in use: CC, NAPF,
ABI,, BITC, EIRiS, SAM, GRI, CDP
 The core normalised question set needs to be supplemented by
“balancing” questions from the agencies
 Not seeking to set the CR agenda, just helping companies to report
against it
 Consultative and consensual: Steering Group comprising key
stakeholders among companies, institutions and research agencies
THE QUESTION SETS
 Schema will deliver a supra-questionnaire that captures 70 – 80 % of
data requested by all
 Schema also allows for non-core questions to be asked according to
the code or agency involved
 Schema also allows specific proprietary questions to be targeted to
companies or sectors
 We have a process and architecture that allows flexibility to co-opt
new questions for emerging issues (e.g. obesity, OFR) and will be
included via a ratification process
CRE Data Architecture
CRE SCHEMA
 Defines both quantitative and qualitative non-financial data
e.g. “CO2 emissions (tonnes)” vs. “Human Rights policy and declaration”
 Allows definitions of alternative taxonomies for categorising the
same CSR data
e.g. “Strategy, management and operations” or “Social, environmental, economic”
 Defines common data types found within the CSR domain
e.g. “Gas Emissions”, “Energy Consumption”, “Policy Document”
 Time period and applicability data for apportioning and defining the
relevance of data
e.g. “carbon emissions in Europe”, “child labour excluding sub-Saharan Africa”.
CRE SCHEMA
 Allows definition of questionnaire sets, which provide a mechanism
for manual but efficient capture of the data
this data does typically exist in a structured form in enterprise systems so must
be recaptured
 Standardised definitions of third-party requirements and ratings and
their interrelationships and redundancies
e.g. “this data fulfils the requirements of both Global Reporting Initiative EN12 and
Carbon Disclosure Project Q4”
 Reporting definitions and vocabularies
Supports the definition of reports (exceptions and aggregations) that can be
used during research and comparative analysis
Migration to a XBRL based standard
 CRE schema was designed initially as the enabler for a proprietary
software application
 However this underlying platform and data schema are open to all
 It takes concepts and tenets of XBRL to ease future migration
 The London Stock Exchange are engaged with the XBRL Consortia
to evolve the CRE schema into an open set of XBRL taxonomies
and extensions
 Software tools will be made available to the corporate responsibility
community to allow definition of new CSR data requirements and
questionnaires