The Global Reporting Initiative, commonly known as GRI, plays a significant role in the world of sustainability reporting, corporate disclosure, and risk mitigation. Founded in 1997, GRI developed the world’s most widely adopted sustainability reporting standards, the GRI Sustainability Reporting Standards, or GRI Standards for short. Multi-stakeholder input is critical to the success and wide adoption of the GRI Standards. Top stakeholder considerations include public interest as the driving force, economic value-add to reporting corporations, and community and environmental well-being.
The GRI Standards focus on:
- Advancing sustainable development
- Creating consistency in sustainability reporting
- Prioritizing efficiency and effectiveness in sustainability reporting
- Utilizing reported information to improve performance.
Compiling yet another report (often outside of one’s traditional job description) may sound burdensome. However, the concrete value-adds and intangible benefits that cascade through an organization which reports on sustainability support this venture. Sometimes viewed as auxiliary, or not tied to the bottom line, sustainability reporting can be given a poor reputation. It is aligned with more business drivers than you think!
Ultimately, organizations “think” in risks and opportunities. This same concept can be applied in the world of sustainability reporting. Organizations are challenged to consider their impacts on various stakeholders as well as how to mitigate the potential impacts to their own organization.
The benefits are numerous, but to name a few…
What and How to Report
In order to realize the benefits of reporting, it is critical to understand the reporting components. Diving head first into GRI Sustainability Reporting can be overwhelming, but breaking it down into smaller, more familiar steps, is a great way to start.
Sustainability reporting revolves around how to create value for your organization while contributing to the greater good. The following concepts might sound familiar: materiality, systems, data gathering, goals, and communication. From there it’s about picking key topics, understanding the data and systems around those topics, setting goals, and then communicating those successes. This is the core of sustainability reporting.
Schedule a 15 minute consultation with one of our Sustainability experts to explore how you can benefit from Sustainability Reporting today:
At CAPACCIO, we live our mission of “Helping Industry and the Environment Prosper”. We align EHS with your overall business objectives to strategically position you for success. Our unique approach combines our extensive EHS experience with innovative tools, such as our EHS Dashboard™, to effectively address your challenges. Our comprehensive solutions have resulted in award-winning EHS and overall business performance for our clients. We are certified WBENC, WBE. To learn more visit us at www.capaccio.com.