By Louis D. Coppola, Executive Vice President, G&A Institute
I recently returned from The Netherlands where the next iteration of the Global Reporting Initiatives’ Guidelines was released at the annual global GRI conference (which took place in GRI’s home city, Amsterdam).
There were many changes announced regarding the “G4” –the next generation of GRI reporting guidelines. These include the removal of the familiar “A-B-C” Application Level system; a stepped up concentration on materiality; and, further alignment with existing recognized standards like CDP and UN Global Compact.
We will have more comments for you going forward — be sure to make the new GRI guidelines part of your summer reading; you can download them at www.globalreporting.org
There were many significant developments being discussed by conference attendees. Some highlights we tuned in to: The International Integrated Reporting
Council or IIRC has released its consultation draft of its framework for integrated reporting. These guidelines are intended to pave the way for sustainability leadership companies to combine their financial reporting data with their sustainability data in creative and beneficial ways.
Take a look at www.theiirc.org — and submit your feedback as part of the public consultation process.
Ceres and INCR in collaboration with NASDAQ OMX released a draft consultation paper to set out a roadmap for stock exchanges around the world to establish standards for disclosure of ESG information. This initiative is part of a growing effort to make sustainability disclosure a consistent requirement for corporate listing on stock exchanges. You can read the draft at www.ceres.org to keep up with the parallel movement of the SSEI or Sustainable Stock Exchanges Initiative.
The European Commission (EC) recently adopted rules for companies with more than 500 employees to publish a sustainability report (or explain why it does not publish) — an approach intended to disclose more information on corporate strategy, results and risks in six areas — environmental, social and employee related matters, human rights, anti-corruption and bribery.
You can find out more online: http://eur-lex.europa.eu/ Photo Caption (above) In Amsterdam: Marjella Alma, GRI Focal Point USA (left); Louis Coppola, G&A Institute (center), USA Data Partners for the GRI; Mike Wallace, GRI Focal Point USA (right).