Business Global Reporting Initiative

[Yakub02]

Global Reporting Initiative GRI

The Global Reporting Initiative (GRI) is an international not-for-profit organisation whose mission is to make sustainability reporting standard practice.

GRI promotes the use of sustainability reporting as a way for companies and organisations to become more sustainable and contribute to a sustainable global economy. GRI helps businesses and governments worldwide understand and communicate their impact on critical sustainability issues such as climate change, human rights, governance and social well-being.

This enables real action to create social, environmental and economic benefits for everyone. The GRI Sustainability Reporting Standards are developed with true multi-stakeholder contributions and rooted in the public interest. GRI publish a very influential set of standards on sustainability.

The first GRI guidelines were published in 1999 and have evolved into the GRI Sustainability Reporting Standards (GRI Standards). The standards are used by several thousand organisations, in over 90 counties and are referenced in over 20 stock exchanges and in legislation and regulation in over 40 countries.

The GRI Standards are structured as a set of interrelated standards issued in a modular structure and comprise:

 Universal standards (100 series)  GRI 101: Foundation – sets out reporting principles;  GRI 102: General disclosures – contextual information about the organisation and its sustainability practices;  GRI 103: Management approach – how an organisation manages a material topic and to be used for each material topic in a sustainability report.

 

[Yakub02]

The Sustainability Accounting Standards Board (SASB) SASB is an independent non-profit organisation.

SASB publishes sustainability accounting standards which provide disclosure guidance on sustainability for mandatory filings to the U.S. Securities and Exchange Commission (SEC). SASB produces standards for different industries.

Each standard is comprised of:  disclosure guidance; and  accounting standards on sustainability topics for use by U.S. and foreign public companies in their annual filings with the U.S. Securities and Exchange Commission (SEC).

The disclosure guidance identifies sustainability topics at an industry level, which may be material to a company within that industry, depending on that company’s specific operating context

 

[Ramolak19]

Anyway @Yakub02 like you said in your post comments that the Business Global Reporting Initiative (GRI) is an international standard for sustainability reporting. It provides a framework that organizations can use to measure, report and disclose their economic, environmental and social performance in order to create transparency and accountability.

Business Global Reporting Initiative: also helps companies to identify opportunities for improvement by providing guidance on topics like climate change, human rights, labor practices and anti corruption measures.

I think if you can follow GRI standards, businesses are able to demonstrate their commitment to sustainable development goals while also improving operational efficiency.