Green business, business ethics, corporate social responsibility, sustainability, carbon footprint, water footprint, and triple bottom line; some these terms were practically unheard of a decade ago. The ones that were around did not carry the weight they do in today's business world. Sustainability reporting gives a business the opportunity to reach out to stakeholders by providing relevant statistics on organizational practices related to sustainability.
What Is the Global Reporting Initiative?
The Global Reporting Initiative, or GRI, is a self-described network-based organization focused on providing a framework for sustainability reporting. The framework has been, and is being, developed based upon input from people in multiple sectors of society. Seeking consensus from multiple types of stakeholders, rather than just a group of business leaders, or just an environmental group; helps to ensure the framework will provide a strong framework for preparing a sustainability report.
Services Provided by the GRI
The GRI compiles the information from stakeholders and develops a set of sustainability guidelines. In the interest of remaining objective, maintaining credibility, and avoiding a conflict of interest; the GRI does not offer consulting service or engage with those individuals and businesses using the framework. They do offer training; and will review a report to evaluate the self-declared application level associated with the report.
GRI Application Levels
The GRI application levels are A, B, and C. Reports assured by an external agent can add a + symbol to their declared level. Application levels tell sustainability report users how thoroughly the G3 guidelines have been used in the report. The levels also offer the business preparing the report guidance that can be used while working toward reaching an improved state, or higher level. Declaring an application level is a required part of a GRI G3 report.
Global Reporting Initiative's G3 guidelines
The GRI sustainability reporting framework is built upon the G3 guidelines of:
What Is the Global Reporting Initiative?
The Global Reporting Initiative, or GRI, is a self-described network-based organization focused on providing a framework for sustainability reporting. The framework has been, and is being, developed based upon input from people in multiple sectors of society. Seeking consensus from multiple types of stakeholders, rather than just a group of business leaders, or just an environmental group; helps to ensure the framework will provide a strong framework for preparing a sustainability report.
Services Provided by the GRI
The GRI compiles the information from stakeholders and develops a set of sustainability guidelines. In the interest of remaining objective, maintaining credibility, and avoiding a conflict of interest; the GRI does not offer consulting service or engage with those individuals and businesses using the framework. They do offer training; and will review a report to evaluate the self-declared application level associated with the report.
GRI Application Levels
The GRI application levels are A, B, and C. Reports assured by an external agent can add a + symbol to their declared level. Application levels tell sustainability report users how thoroughly the G3 guidelines have been used in the report. The levels also offer the business preparing the report guidance that can be used while working toward reaching an improved state, or higher level. Declaring an application level is a required part of a GRI G3 report.
Global Reporting Initiative's G3 guidelines
The GRI sustainability reporting framework is built upon the G3 guidelines of:
- Strategy and Profile - The Strategy and Profile portion of the report tells the reader how the organization affects stakeholders and also how it handles sustainability impacting factors, risks, and opportunities.
- Management Approach - The Disclosure on Management Aproach portion of the sustainability report should include management's approach to economic, environmental, and social practices.
- Performance Indicators - Performance Indicators can be described as either core indicators or additional indicators. Core indicators are those already established as important to stakeholders in the G3 guidelines. Additional indicators are those indicators established in the guidelines as emerging in importance. GRI provides an indicator search tool to aid with evaluating the status of indicators.
Copyright Laure Justice
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