Changing remuneration from a reputational risk into a catalyst for change
REWARD VALUE LAUNCHES ‘PRINCIPLES OF RESPONSIBLE REMUNERATION’
Non-profit organization Reward Value Foundation launched their Principles of Responsible Remuneration (PRR) at the World Economic Forum in Davos. CEOs and board members are increasingly expected to lead a positive change and contribute to a more sustainable economy, which requires making different corporate decisions. Executive remuneration is a lever for guiding corporate behaviour and is the truest expression of a corporation’s real priorities. Non-profit organization Reward Value has developed the Principles of Responsible Remuneration to support and accelerate a positive global transition and to stimulate progress on the UN Sustainable Development Goals (SDGs). The PRR are fundamental guidelines that can support businesses in their transition to become more sustainable and responsible.
The Principles of Responsible Remuneration are supported by leading experts in the field of sustainable business transition, such as André Hoffmann, vice-chairman of the Board of Directors Roche Holdings, Patrick de Cambourg, chair of the EFRAG Sustainability Reporting Board, Bruno Roche, founder and Executive Director Economics of Mutuality Platform and Colin Mayer, professor Saïd Business School and University of Oxford.
| PRINCIPLES OF RESPONSIBLE REMUNERATION (PRR)
PURPOSE PERFORMANCE IMPACT LONG-TERM ENGAGEMENT TRANSPARENT |
Frederic Barge, founder of Reward Value Foundation: “We are very committed to launch the Principles of Responsible Remuneration today. They are developed to accelerate the transition to a more sustainable economy. Together with corporates themselves, as well as consulting firms, institutional investors and the regulatory field we can activate the principles and make them count.”
Businesses and investors are invited to become a ‘signatory’ and demonstrate a leading and forward-looking approach to aligning pay with purpose. Barge: “Changing remuneration from a reputational risk into a catalyst for change will empower companies to be a trusted partner and lead sustainable transition.” Reward Value, together with the UN Global Compact, will host an academic series for which all involved parties can sign up to learn more about the principles, their power and how to implement the Principles in practice / ensure sustainable change.
More information on the principles, the academic series and signatories can be found on Reward Value’s website: www.rewardvalue.org
