What is this standard about?
The Global Reporting Initiative (GRI) Standards are a widely recognized framework for sustainability reporting. They help organizations measure and share their environmental, social and governance (ESG) impacts. While voluntary, these standards are used globally to showcase a company’s commitment to sustainability and transparency.
How does this impact my business?
Adopting the GRI Standards can improve your company’s reputation, boost transparency and attract socially responsible investors. It also helps identify opportunities to improve sustainability efforts. However, implementing the standards may require resources for data collection, reporting and stakeholder engagement.
What can I do to get started?
To begin using the GRI Standards, businesses should:
- Familiarize themselves with the GRI framework and GRI reporting.
- Conduct a materiality assessment to identify key sustainability issues.
- Collect and analyze data on environmental, social and governance performance.
- Prepare a sustainability report aligned with the GRI Standards.
- Consider seeking training or consulting services to ensure effective implementation.
