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GRI Launched of G4 in Canada - Vancouver and Calgary, June 10, 11, 2013
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Welcome to GRI’s Launch of
#G4 in Canada
Vancouver, Calgary
June 10 & 11, 2013
Vancouver, Calgary, 10, 11 June 2013
Focus on what matters, where it matters
North American G4 Campaign
G4 Campaign Sponsors
Participating
Certified Training Partners & Sector Leaders:
• Boston College • BrownFlynn • Deloitte • ERM • ISOS Group • Lead Canada w/Sustainalytics
• Bloomberg • Clorox • Curran & Connors • Dell • NYSE Euronext • Sprint • The Mosaic Company
8.00 – 8.30 Light breakfast & registration
8.30 – 10.15 G4 Overview & General Update
10.15 – 10.30 Break
10.30 – 11.30 Main Content Changes and Discussion
Agenda
VISION
A sustainable global economy where organizations manage their economic, environmental, social and governance performance and impacts responsibly and report transparently.
MISSION
To make sustainability reporting standard practice by providing guidance and support to organizations
Vision & Mission of GRI
Meanwhile in Europe…
EC Proposal for EU
directive
All large companies in the
EU will have to disclose
information on (a) policies,
(b) risks and (c) results as
regards environmental
matters, social and
employee-related aspects,
respect for human rights,
anti-corruption and bribery
issues, and diversity on the
boards of directors.
16 April 2013
Key objectives GRI
More reporters!
Better transparency!
It’s not just about your report, it’s about
transparency creating real change.
Harmonization & alignment
International North American
Market uptake
And others…
Why G4?
GRI anticipates:
• continued strong growth in sustainability reporting
• increasing interested from report users for clearly-presented and accessible information
• harmonization between reporting tools and systems
• the integration of financial and sustainability reporting
Starting points for G4
• G3.1 Guidelines
o The most up-to-date version of the GRI Guidelines
• G4 Objectives
o Be user-friendly for beginner and experienced reporters
o Improve technical quality, with clearer definitions
o Align with other international reporting references (frameworks)
o Lead to reports that cover material topics
o Offer guidance on how to link sustainability and integrated reporting, aligned with the IIRC
o Improve data access (XBRL)
G4 Launch at the GRI Conference
• Over 1600 people, from over 80 countries
• Over 40 sessions, with close to 200 speakers
North American G4 Campaign Pre-Conference
11 April – GRI @ NYSE, New York
2 May– GRI @ CERES, San Francisco
15 May – GRI @ webinar, online
G4 Local Launch
3 June – GRI @ Sustainable Brands ‘13, San Diego
6 June – GRI @ Sustainability Summit, Kansas City
10, 11 June – GRI @ Deloitte, Vancouver & Calgary
12 June – GRI @ Toronto Stock Exchange, Toronto
19 June & 24 June – GRI @ webinar, online
Before… and after…
Areas of profound revision
Structural changes
• Application levels
• Boundary
• Disclosures on management approach
Content changes
• Supply chain
• Governance
• Greenhouse gas emissions
• Anti-corruption
“Materiality” definition - GRI
“Material topics for a reporting organization should include those topics that have a direct or indirect impact on an organization’s ability to create, preserve or erode economic, environmental and social value for itself, its stakeholders and society at large.”
G4 Updates:
• Explain WHY a topic is material in the sustainability report = Update to GRI’s Management Approach Disclosures
https://www.globalreporting.org/reporting/guidelines-online/TechnicalProtocol/Pages/MaterialityInTheContextOfTheGRIReportingFramework.aspx
Reinforcement of materiality
Reporting organizations will only report what is deemed material, and explain on a topic-level why this is the case.
What currently exists as the GRI Technical Protocol has been incorporated directly into the guidelines.
Defining Material Aspects & Boundaries
Materiality Matrix
22
All = equal
In G4, there is no distinction between ‘core’ and ‘additional’ indicators.
Sector Supplement content is simplified, to be used when selecting material Topics
Sector guidance
In G4, different levels of disclosure are expected depending on an organization’s control and influence.
“Extent of disclosure” concept
Generic DMA (narrative) per GRI ASPECT
Disclosures on Management Approach
25
Break
Main Content Changes
27
New Disclosures: Supply Chain
Governance & Remuneration
Updated Disclosures
Anti-corruption
GHG Emissions
New GRI Aspects
New GRI Aspects
The New GRI content index
30
You still have to publish a GRI content index in order to classify as a
GRI-based sustainability report
• Core and Comprehensive Option
• Both have focus on process to define materials Aspects and Boundaries
In Accordance – Two Options
For Standard Disclosures with(*), reasons for omission may apply in exceptional cases.
In exceptional cases, if it is not possible to disclose certain required information, the report should
a) Identify the information that has been omitted.
b) Explain the reasons why the information has been omitted.
In addition, the applicable explanation of omission from the list below should be provided:
* A Standard Disclosure, part of a Standard Disclosure, or an Indicator is not applicable; the reason why it is considered to be not applicable should be disclosed
* The information is subject to specific confidentiality constraints; those constraints are to be disclosed by the organization
* The existence of specific legal prohibitions; a reference to the specific legal prohibitions should be made
* The information is currently unavailable. In the case of the unavailability of data, the organization should disclose the steps being taken to obtain the data and the expected timeframe for doing so
The organization should recognize, however, that a large number of omitted Standard Disclosures may invalidate its ability to claim that its sustainability report has been prepared ‘in accordance’ with either the Core or Comprehensive options of the Guidelines.
Reasons for not reporting
35
Example: Dell’s GRI Index
36
Taken from Dell’s 2012 Corporate Responsibility Report
TRUE OR FALSE:
I want GRI to give me a “+”.
I can get this “+” by either having my report checked by GRI or having a third party verify my report.
External Assurance: Before
37
External assurance: After..
Trends in External Assurance of Sustainability Reports: Spotlight on the USA, GRI, March 2013 38
Integrated reporting
Clear references to integrated reporting are included in G4
Two parts
• GRI G4: what to report?
• GRI G4: how to report it? implementation manual
• Sector guidance: online in tables
G4 documents
40
Using the Guidelines: The steps – new section
I. Obtain an overview
II. Choose the preferred “in accordance” option
III. Prepare to disclose General Standard Disclosures
IV.Prepare to disclose Specific Standard Disclosures
V. Prepare the sustainability report
The structure of the G4 Guidelines
General and Specific Disclosures
Regulatory trends
"More governments are making sustainability reporting mandatory.“
In 2006, 58 percent of policies were mandatory; now, more than two thirds (72 percent) of the 180 policies in the 45 reviewed countries are mandatory.
What’s happening in the USA?
Stock Exchange Activity
May 2010 January 2011
• GRI & Other Initiatives:
• OECD MNE Guidelines
• UNGC Principles
• UN Guiding Principles on Business and Human Rights
• GRI & Integrated Reporting
• GRI & Supply Chain
GRI & Harmonization
Harmonization: other initiatives
Where?
Legend, links to OECD/UNGC
Harmonization: other initiatives
Where?
GHG disclosures
* G4 WG with CDP & Climate
Registry
* Aligned with WRI & ISO 14064
Harmonization: other initiatives
Where? Linkage tables in G4
• GRI & Other Initiatives:
• OECD MNE Guidelines
• UNGC Principles
• UN Guiding Principles on Business and Human Rights
• GRI & Integrated Reporting
• GRI & Supply Chain
Harmonization: Integrated Reporting
• GRI & Other Initiatives:
• OECD MNE Guidelines
• UNGC Principles
• UN Guiding Principles on Business and Human Rights
• GRI & Integrated Reporting
• GRI & Supply Chain
Harmonization: supply chain
Supply Chain – G4-12 Describe the supply chain
New Disclosures - examples
Overview of Supply Chain Disclosures in G4, pg 86
New Disclosures - examples
Governance & Remuneration Disclosures, G4 – 34-55
New Disclosures - examples
Remuneration, G4 – 51-55
New Disclosures - examples
What about the Sector Supplements?
Guidance - Sector
New publication
New publication
Guidance – Integrated reporting
57
Guidance - assurance
58
•Learning Services Material
– G4 Bridging Module July 2013
– Standard course & Pathways I: September 2013
– SME course & Pathways II December 2013
•Reports Services - GSI
– Decision on “In accordance” checks: September 2013
– Certified Software for G4 and G4 online
Post G4 Launch - Roll out phase
Thank You
www.grifocalpointblog.org/usa www.griconference.org
60
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