Transitioning to the New GRI Global Standards: Up-to-the-minute News and Analysis

Transitioning to the New GRI Global Standards: Up-to-the-minute News and

Analysis

Chelsea ReinhardtGlobal Reporting Initiative (GRI)

@GRI_Secretariat

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Background on GRI

1997GRI founded in Boston by UNEP, Ceres, and the Tellus Institute

2000G1 – First ever Guidelines released

2002G2 Guidelines

2006G3 Guidelines

2011G3.1

2013G4 Guidelines

2016GRI Standards

2015 GRI establishes separate Standards Board (GSSB)

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NEW Set of modular GRI Standards G4 Guidelines and G4 Implementation Manual

What are the GRI Standards

• The GRI Standards incorporate the key concepts and disclosures from the G4 Guidelines and G4 Implementation Manual, but with a new and improved structure and format

• The Standards are issued by the Global Sustainability Standards Board (GSSB), GRI’s independent standard-setting body

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Why move from guidelines to ‘Standards’?

• A more flexible and future-proof structure: ensuring the GRI Standards remain up-to-date and relevant

• Greater suitability for referencing in policy initiatives: to help drive further uptake of credible sustainability reporting

• A global common language for non-financial information: one universal framework to meet all sustainability reporting needs, from comprehensive reports to issue-specific disclosures

The GRI Standards will deliver:

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Summary of new features and improvements

New modular structure

New format with clearer requirements

Content clarifications

Greater flexibility and transparency in using the Standards

3 universal Standards, applicable to all

33 topic-specific Standards, organized into Economic, Environmental, and Social series

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These include:• The definition of ‘impacts’ as

related to materiality• Reporting on other material

topics (not covered by the GRI Standards)

• Reporting the ‘topic Boundary’• Reporting on topics if the

Boundary extends beyond the organization





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Content clarifications - Boundary

The topic Boundary now describes:• where the impacts occur for each

material topic, and• the organization’s involvement

with the impacts (e.g., whether it causes, contributes to, or is directly linked to the impacts through a business relationship)

The Boundary concept has been simplified and better aligned with key references (i.e., UN Guiding Principles on Business and Human Rights and the OECD Guidelines for MNEs)





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Greater flexibility and transparency

• Designed primarily to be used together to prepare a report in accordance with the Standards

• Core and Comprehensiveoptions from G4 continue (with minor changes)

• Selected Standards can also be used to report specific information

• This is called a ‘GRI-referenced’ claim

Preparing a report in

accordance with the Standards

Using selected GRI Standards





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Implications for reporters

• This is not ‘G5’ – the key concepts and most disclosures from G4 carry through

• Reporting Principles, management approach (DMA) and the emphasis on reporting only material topics remain

• Some disclosures have been clarified, and some content has been relocated to reduce duplication

For organizations already reporting in accordance with G4, impacts on the reporting process should be relatively minor

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Resources:

• Detailed ‘Mapping G4 to the GRI Standards’ document, showing changes from G4 by topic (Aspect) and disclosure

• New half-day training module offered through GRI’s Certified Training Partners

Timeline and additional resources

• Recorded webinars and presentation on key changes

• Translated versions for languages (expected 2017)

• ‘GRI Standards Pioneers’ program for early adopters

‘Mapping G4 to the GRI Standards’ document

For more detail, see: globalreporting.org/standards

The Standards will be required for all reports published on or after 1 July 2018 –earlier adoption is encouraged.

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What can you expect in the future?

• Periodic updates of topic-specific Standards – with schedules published well in advance

• Continued alignment with other reporting frameworks and the Sustainable Development Goals

• Standards that better reflect leading-practice and emerging trends, while still maintaining global relevance

www.globalreporting.org

GRIBarbara Strozzilaan 3361083 HN Amsterdam

The Netherlands

[email protected]

For more detail, see: globalreporting.org/standards

Thank you