The standards of the Global Reporting Initiative (GRI) create a universal language for all organizations and ensure transparent disclosure of a company’s impacts on sustainable development. GRI regularly updates its Standards to ensure continuous improvement and in the interest of meeting the needs of multiple stakeholders.
Currently, GRI´s Global Sustainability Standards Board (GSSB) is reviewing the Universal Standards. Significant changes are foreseen:
- A more focused approach to identify an organization’s material topics considering its most significant impacts.
- Revisions to reporting principles and concepts in GRI 101: Foundation 2016.
- Revisions to the reporting model in GRI 101: Foundation 2016 focusing on the accordance criteria.
- Revisions to GRI 102: General Disclosures 2016.
- Integration of human rights disclosures into the GRI Standards.
- Integration of business conduct and due diligence concepts into GRI 103: Management Approach 2016.
The update allows for increased transparency on the disclosure of sustainable development impacts in all reporting organizations and the alignment between the GRI Standards and the UN Guiding Principles on Business and Human Rights, as well as the OECD’s guidelines and tools on responsible business conduct.
The release of the update on the Universal Standards is expected in the second quarter of 2021.
For more information on how we can help apply the GRI Standards in your organization, please contact us at firstname.lastname@example.org