GRI and Sustainability Reporting

Study Notes

Companies now consider disclosure of non-financial data, such as pollution levels and staff welfare, as important as profits.
Environmental reports are voluntary, but companies may base their reports on guidelines like the Global Reporting Initiative (GRI) for sustainability reporting.

Stakeholder inclusiveness: identify stakeholders and respond to their expectations and interests.
Sustainability context: report on the organization's performance in the context of environmental and social resources.
Materiality: report on significant economic, environmental, and social impacts, and aspects that influence stakeholder assessments and decisions.
Completeness: cover material aspects and their boundaries, including scope, time, and activities.

Balance: reflect both positive and negative aspects of performance.
Comparability: ensure consistency of reporting for comparison to historic performance and other organizations.
Accuracy: provide sufficient accuracy and detail for stakeholder review.
Timeliness: report on a regular schedule and in good time for stakeholders to make decisions.
Clarity: make information understandable and accessible.
Verifiability: record and disclose information and processes used in preparing the report.

Strategy and analysis: CEO's statement on sustainability, key impacts, and strategy.
Organisational profile: what the organization does, where it operates, and who it works with.
Identified material aspects and boundaries: entities covered, key impacts, stakeholders affected, and boundary definition.
Stakeholder engagement: who the stakeholders are and how they are engaged.
Report profile: reporting period and frequency.
Governance: governance structures, roles in risk management and sustainability.
Ethics and integrity: organization's values, principles, and standards.

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