Buenos Aires, the capitol city of Argentina, has mandated sustainability reporting for companies of more than 300 employees and with incomes larger than the established small and medium enterprise scale.
Effective immediately, companies with more than 300 employees will have to make yearly sustainability reports based on their social, economic, and financial sustainability. Details on the specific reporting requirement have not yet been specified, but the new decree establishes that reporting must be accessible to the public and will be based on the Global Reporting Initiative G3 indicators, on AccountAbility 1000, and Ethos indicators and principles.
The city´s Production Ministry will be in charge of implementing the new law and monitoring progress with help from other ministries including environment, urban planning, and finance.
Companies of less than 300 employees can voluntarily adhere to the upcoming reporting guidelines, and in exchange, will be eligible for financial benefits, such as promotional soft loans and technological investment incentives.
Individuals will be able to refute Sustainability Reports, and trigger state audits, although details of this mechanism have not yet been made available.
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