GPSNR standardizes sustainability reporting, increases transparency

SINGAPORE—Members of the Global Platform for Sustainable Natural Rubber have agreed on a set of detailed parameters for their annual reporting of progress on sustainability.

Approved at the platform's virtual annual general assembly, which drew more than 120 attendees, the agreement will standardize sustainability reporting in the natural rubber industry from 2022 onwards, GPSNR said in a Dec. 15 release.

The move, said GPSNR, will help reinforce the efforts of member companies that have already included strong sustainability commitments in their natural rubber production and procurement policies.

The ability to transparently report on the same sustainability standards will aid a structural change in the industry to ensure harmonized sustainability reporting becomes the norm, the industry body stated.

The agreement is a "tremendous milestone for the platform and for the natural rubber industry," said GPSNR Director Stefano Savi.

Members, he said, can now better ensure that their products and services are delivered in alignment with GPSNR's principles and can be monitored for continuous improvement.

The reporting requirements, Savi added, "have been agreed upon by upstream and downstream industry stakeholders as well as civil society players to ensure accountability.

"This serves as a testament to our model of driving sustainability, equity and fairness through multi stakeholder collaborations.''

GPSNR member companies, which include rubber producers, processors, tire makers, and automotive OEs and NGOs, account for about 50 percent of global natural rubber volume.

The new reporting system can be viewed here.