{"id":138,"date":"2017-08-31T09:39:52","date_gmt":"2017-08-31T04:09:52","guid":{"rendered":"http:\/\/ga-institute.com\/to-the-point\/\/?p=138"},"modified":"2018-01-28T02:41:49","modified_gmt":"2018-01-27T21:11:49","slug":"corporate-sustainability-leaders-are-already-using-the-gri-standards-before-the-2018-deadline-as-g4-is-retired-the-new-standards-will-be-required-for-corporate-reporting","status":"publish","type":"post","link":"https:\/\/ga-institute.com\/to-the-point\/corporate-sustainability-leaders-are-already-using-the-gri-standards-before-the-2018-deadline-as-g4-is-retired-the-new-standards-will-be-required-for-corporate-reporting\/","title":{"rendered":"CORPORATE SUSTAINABILITY LEADERS ARE ALREADY USING THE GRI STANDARDS BEFORE THE 2018 DEADLINE — As G4 Is “Retired” the New Standards Will Be Required For Corporate Reporting"},"content":{"rendered":"

Issue 1.9<\/b><\/p>\n

\"\"The Global Reporting Initiative (GRI) is the\u00a0<\/strong>world\u2019s most used framework for\u00a0<\/strong>corporate sustainability \/ responsibility \/\u00a0<\/strong>citizenship reporting. <\/strong><\/span><\/em><\/h3>\n

The first generation\u00a0<\/strong>of the framework was launched in 1999-<\/strong>2000 (the \u201cG1\u201d), which evolved over time\u00a0<\/strong>through a multi-stakeholder process\u00a0<\/strong>shaping G2, G3, G3.1, G4, and on to\u00a0<\/strong>become today\u2019s GRI Standards.<\/strong><\/span><\/em><\/h3>\n

After July 1, 2018, corporate and other reporters adopting the\u00a0<\/strong>GRI approach to disclosure and reporting will need to comply\u00a0<\/strong>with the GRI Standards.\u00a0<\/strong><\/span><\/em>Select Corporate Sustainability Leaders are already there…<\/strong><\/span><\/em><\/h3>\n

Prepared August 31, 2017<\/p>\n

What you need to know about the Standards: <\/em><\/p>\n

The GRI Standards, GRI CEO Tim Mohin<\/strong> explains, are a set of 36 inter-related standards that are designed to address [reporting organizations’] impacts on the economy, the environment, and society.<\/p>\n

And in turn, the Standards serve to define what these impacts may be (negative or positive in nature) on sustainable development worldwide.<\/p>\n

Corporate reporters will find differences as they adopt the Standards between: (1) reporting requirements\u00a0<\/strong>(2) recommendations for reporters and\u00a0\u00a0(3) guidance provided for reporters. <\/strong><\/span><\/h3>\n

The new Standards are a common language, CEO Mohin tells us, developed through a long process in a modular format. That way the module or modules can be updated and amended without the entire set of Standards being modified (as was the case for the evolvement of the G1-to-G4 frameworks).<\/p>\n

The GRI Standards will over time closely align more with the Sustainable Development Goals<\/strong> (17 goals with 169 targets), As the SDGs were launched, GRI and the UN Global Compact<\/strong> (UNGC) collaborated to develop the SDG Compass<\/strong> to help corporate and institutional reporters understand the alignment of the SDG umbrella goals and their individual targets underneath in the context of their G4 reporting.<\/p>\n

\"\"This effort continues (as we explain in another Top 10 shared perspectives this month<\/a>) with the development of the Analysis of The Goals And Targets<\/strong> (“Final Draft” available now, Final Copy coming in September), the coming Handbook<\/strong> (to be published later in 2017) and other guidance for reporters.<\/p>\n

We need to keep in mind that the GRI organization \u2013 staff and many external
\nstakeholders \u2013 collaborate with other organizations focused on corporate sustainability reporting.<\/p>\n

These include the UNGC<\/strong>, the IIRC, CDP<\/strong>, and the global ISO<\/strong> (the Switzerland-based global standards organization); and, GRI will be working with SASB on a comprehensive mapping exercise of the two standards.<\/p>\n

Call these efforts \u201charmonization\u201d to help address the issue constantly raised by ESG analytics firms, ratings and rankings providers, asset owners and managers, and the corporate sector: more standardization and comparability is needed as sustainable & responsible & impact investing become a more mainstream approach in the capital markets.<\/p>\n

Revising The Standards<\/strong><\/h3>\n

\"\"<\/strong><\/h3>\n

As we approach the 2018 deadline for companies and
\ninstitutions to adopt the Standards for their sustainability
\nreporting, we are presented with two immediate updates
\nto two GRI Standards Modules. GRI released Exposure Drafts of each for external review and response:<\/p>\n