GRI (Global Reporting Initiative) unveils new global sustainability reporting standards
The Global Reporting Initiative has launched on October 19, 2016 a new set of global sustainability reporting standards aimed at giving companies a common language for communicating on their sustainability policies and strategies.
The new version of the standards comprise 36 modular Standards that guide companies to measure, evaluate and communicate their impacts on the economy, the environment and society. The GRI standards are centered on materiality, allowing companies to focus on the issues that have the biggest impact on the organisation and its stakeholders.
Following GRI reporting standards remains a voluntary initiative from companies but higher sustainability disclosure is a means to increase transparency towards investors who base their investment decisions on non-financial risk assessments. The new GRI standards will replace the G4 Guidelines, which will be phased out by July 1, 2018.
More information globalreporting.org.
Academic Research, ESG, World