The Global Reporting Initiative (GRI) released a significant update to reporting standards today, October 5, 2021, including revisions to the Universal Standards (applicable to all organizations reporting in conformance with GRI) and the Oil and Gas Industry Sector standard.
The revised Universal Standards are in effect for reporting from January 1, 2023, with earlier adoption is being encouraged by GRI. The intent of the revisions is to improve transparency for organizational impacts on the economy, environment and people; and to position organizations to be able to respond to emerging regulatory disclosure needs, such as the European Union (EU) Corporate Sustainability Reporting Directive and the International Financial Reporting Standards (IFRS) plans for enterprise value standards.
English versions of the new standards are available for download from GRI. GRI launched its update today with 7,000 attendees worldwide participating including CAPACCIO. GRI will be providing additional information in an upcoming webinar:
- Introduction to Updated Universal Standards on October 12, 2021 at 9:30AM CEST
The GRI standards represent global best practices for public Corporate Sustainability Reporting (CSR) on economic, environmental and social impacts of organizations. Three series of interconnected standards are used for reporting: universal standards applicable to all organizations, sector standards applicable to specific sectors, and topic standards for relevant and material topics for an organization.
For more information or assistance, please contact us at information@Capaccio.com.