The Islamic Reporting Initiative (IRI) has today announced that it will participate at the UN Climate Change Conference of the Parties (COP22) and will hold its inaugural roundtable discussion on the first day of the COP22 in Marrakech.
The United Nations Framework Convention on Climate Change (UNFCCC) is held in a different country each year, and this year will be held in Morocco.
“We are delighted to announce that our bid to hold the IRI’s inaugural roundtable discussion as a side event of the COP22 in Marrakech has been accepted. The event will mark another great milestone since the founding of the IRI, and will emphasize its moral commitment to stewardship of the environment as an integral part of sustainable development,” said founder of the IRI Drs Daan Elffers.
The IRI inaugural roundtable discussion will focus on leveraging the potential of Islamic values in addressing the combined challenges of climate change and the global development goals through corporate sustainability and social responsibility (CSR).
Commended by the Organisation of Islamic Cooperation (OIC), the UN Global Compact Foundation, and members in more than 50 countries, the IRI is leading the creation of the world’s first reporting framework for sustainability & CSR based on Islamic values and principles.
OIC: “The OIC is dedicated to preserving and promoting Islamic values of peace, equality, human dignity and environmental prosperity. The IRI, in its journey towards making business responsible through the application of CSR and CSR reporting, has many values aligned with our own. The OIC commends the IRI in its efforts to promote economic, social and environmental prosperity in a manner that is not only impact-oriented and sustainable, but culturally relevant and responsive.”
The COP is the annual meeting for countries working within the UNFCCC and acts as a major driving force behind global efforts that address the challenge of climate change. Last year’s COP21 led to the unprecedented Paris Agreement, which will act to manage global greenhouse gas emissions. The Paris Agreement will formally enter into force once 55 parties, responsible for at least 55% of global emissions, have submitted documents ratifying how they will deliver their Nationally Determined Contributions (NDCs). The recent ratification of the Paris Agreement by both China and the US, the World’s two largest emitters of greenhouse gases, is seen as a major step in this process, but further action is still needed by other countries, businesses and individuals.
The IRI reporting standard can act to help organizations to address their greenhouse gas emissions, alongside placing greater consideration on wider sustainability issues and the need to adapt to the changing climate. In helping to engage and enable an approach based on Islamic values, the IRI has the potential to catalyse progress across the climate change and sustainability agendas. The 57 member states of the OIC account for just over 12% of global carbon dioxide emissions, around 20% higher than the combined emissions of the European Union’s 28 member states. As with many nations across the globe OIC member states are currently developing national visions related to their future economic, social and environmental prosperity.
The IRI provides a basis for businesses to help support their nation’s vision and will help them enable enhanced economic prosperity for all alongside enhancing their ability to deliver upon their country’s nationally determined contributions to the Paris Agreement.
The IRI’s COP22 roundtable provides a fantastic opportunity to engage both organizations that operate to Islamic principles and global businesses who operate in OIC member states. The roundtable will help drive virtuous progress across businesses that operate in OIC member states, to help their nation and the wider global community deliver a sustainable future.