GRI and Sustainability Reporting

The GRI and Sustainability Reporting

• 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.

GRI Reporting Principles

Content Principles

• 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.

Quality Principles

• 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.

Disclosures in Sustainability Reporting

General Standard Disclosures

• 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.

Learn about the Global Reporting Initiative (GRI) and the importance of sustainability reporting in companies, including environmental impact and social responsibility.