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GRI launches first global standards on sustainability reporting

October 28, 2016

GRI launches first global standards on sustainability reporting

By Ping Manongdo
Friday 28 October 2016

The Global Reporting Initiative (GRI) has launched a new set of global standards that offer companies a “common language” for sustainability reporting.

The Amsterdam-headquartered international organisation said the new standards will help companies be more transparent about their impact on the economy, the environment and society.

The new GRI standards - which is built on its previous G4 guidelines and replaces it - allows organisations to handpick reporting topics which are most relevant and substantial to the profitability and sustainability of their business.

In a statement, GRI interim chief executive Eric Hespenheide said that the new standards “make it much easier for companies to report non-financial information, using a well-understood shared language.”

“The Standards are more straightforward, making them accessible to potentially millions of businesses worldwide,” he added.

Under the new framework, businesses and organisations are required to report using three universal standards, namely GRI 101 Foundation, GRI 102 General Disclosures, and GRI 103 Management Approach.

Read more at Eco-Business.

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