Companies Get a Unified Sustainability Reporting System
The IFRS Foundation and the Global Reporting Initiative (GRI) are strengthening their partnership to create a more streamlined approach to sustainability reporting.
This collaboration aims to make it easier for companies to meet the information needs of both investors and other stakeholders.
Optimising Sustainability Reporting Standards
By working together, the IFRS Foundation's International Sustainability Standards Board (ISSB) and GRI's Global Sustainability Standards Board (GSSB) will ensure their standards complement each other. This will help companies effectively report on their environmental and social impacts, risks, and opportunities.
Collaboration in Action: Biodiversity Reporting
A pilot project focusing on biodiversity reporting is already underway. This initiative leverages GRI's recently published "GRI 101 Biodiversity Standard" and the ISSB's upcoming project on biodiversity.
Focus on Investor Needs and Stakeholder Impact
The ISSB will continue to prioritise providing investors with the sustainability information they need for decision-making. The GSSB remains committed to serving a broader audience, ensuring companies report on their most significant sustainability impacts and contributions.
Sustainability Innovation Lab: Building Capabilities
Launched in November 2023, the Sustainability Innovation Lab (SIL) is a joint initiative by GRI and the IFRS Foundation based in Singapore. The SIL builds collaboration among global and local partners to enhance expertise in using both GRI Standards and ISSB Sustainability Disclosure Standards.
Collaboration on Greenhouse Gas Emissions Reporting
In January 2024, the IFRS Foundation and GRI published a joint resource analysing and mapping considerations for greenhouse gas (GHG) emissions reporting under both GRI and ISSB standards.
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Source: GRI
