Gri & gri trần thái tông

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The global sustainability landscape is shifting rapidly as climate change upends communities & businesses, disrupts supply chains, & governments begin to tighten regulations. Through all of this, investors & business stakeholders want lớn ensure a return on investment while minimizing risk. In turn, the demand for sustainability reporting and disclosures is becoming an imperative.

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ESG (Environmental, Social, Governance) & sustainability reporting standards are transitioning from voluntary lớn mandatory as companies begin to lớn compete for sustainability-focused investment capital. According to the Governance và Accountability Institute, 90% of companies in the S&P 500 Index issued sustainability reports in 2019.

Through reporting, an organization can better understand and manage its impacts on people and the planet while identifying và reducing risks, seizing new opportunities, & taking action towards becoming a responsible, trusted organization. However, while many companies are likely lớn boast about the ESG goals they are achieving, clear & uniform reporting standards are still in their infancy stage as regulations & investor preferences evolve.

The 2019 ESG Global Survey published by BNP Paribas found that 66% of asset owners & asset managers cited data and reporting issues as the biggest barrier to lớn greater adoption of ESG across their portfolios. As the need for data requirements grows, certain reporting standards are beginning to lớn shine as industry leaders and tư vấn the creation of standardized frameworks.

One of these leading reporting frameworks is the Global Reporting Initiative (GRI), a non-profit organization that provides businesses with a framework for comprehensive corporate sustainability reporting. The 2020 KPMG Survey of Sustainability Reporting found 96% of the world’s largest 250 companies (G250) report on their sustainability performance. And around three-quarters (73%) of the G250 now use GRI.

What is GRI reporting?

GRI reporting is becoming widely accepted around the world as a leader in standardizing sustainability reporting in part because of the Triple Bottom Line approach. The GRI Standards help organizations understand their outward impacts on the economy, environment, và society.

GRI was founded in 1997 following the public outcry over the environmental damage of the Exxon Valdez oil spill. With roots in CERES và the Tellus Institute, as well as involvement in the UN Environment Programme, the goal of GRI was khổng lồ create an accountability mechanism that would ensure companies adhere lớn responsible environmental conduct. As GRI grew, the reporting system was broadened lớn include social, economic, and governance issues.

An overview of the GRI framework

Today, GRI reporting increases company accountability và provides transparency surrounding their sustainability goals, efforts, and outcomes. The GRI reporting framework consists of universal standards and topic standards that organizations can use to lớn prepare and report information that showcases significant sustainability impacts.

GRI reporting is broken down into a five-step process:

Step 1: Prepare - Organizations define a vision for the report, create a report team, develop a plan of action, and set a kickoff meeting.Step 2: Connect - Companies identify, hold meetings, và set priorities with key stakeholders in order khổng lồ determine reporting priorities and define scope.Step 3: Define - The reporting team selects issues for kích hoạt and reporting as well as decides on the report content.Step 4: Monitor - The reporting team monitors activities và records data, checks processes & systems, ensures unique of information, và follows up as needed.Step 5: Report - Companies choose the best way khổng lồ communicate, write, finalize, and launch the report publicly.

GRI also offers a variety of services, tools, và training khổng lồ guide report teams through different stages of the reporting process, including their materiality assessment.

What does GRI reporting cover?

GRI reporting protocols aim lớn cover a wide range of ESG issues, from employee safety & human rights to environmental management. With the world currently focused on reaching the Paris Agreement goal of net-zero emissions by 2050, environmental management sustainability reporting has become particularly important to companies, investors, & customers around the world.

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In order to determine the weight of greenhouse gas emissions (GHG) generated on-site, companies must carefully track their hàng hóa usage, chemical inventory, & control technologies. This is also true for water consumption và waste tracking as well as hazardous waste generation. These are all part of the GRI reporting framework that will require a deeper knowledge of company processes và supply chains, as well as comprehensive data inputs.

The GRI offers 30 environmental performance indicators that should be used as part of your environmental sustainability report. These performance indicators are divided into nine primary categories:

Materials: Includes raw materials (natural resources, manufactured chemicals, và materials needed for manufacturing) as well as packaging materials và recycled sản phẩm content.Energy: Includes direct & indirect energy consumption, renewable energy amounts used, such as wind, solar, and geothermal, & efforts made lớn reduce energy requirements through more energy efficient processes.Water: Covers the total amount of water withdrawn from water sources and company impact on those water sources, as well as the percentage & total volume of water that is recycled or reused.Biodiversity: Provides information regarding company impact on the biodiversity of adjacent/nearby protected areas and/or areas considered to have high biodiversity, as well as company strategies for managing impacts on biodiversity.Emissions, Effluents, Waste: Includes total weight of direct và indirect emission of GHGs, ozone-depleting emissions, & NOx, SOx, & other air emissions by type; total water discharge by quality and destination; total weight of waste generated by type và disposal method; total weight of treated, transported, or imported hazardous waste either as well as the percentage of waste shipped internationally; total volume & number of spills on & off-site.Products & Services: Provides the percentage of products sold và packaging materials that are reclaimed/recycled.Compliance: Provides the total monetary value of noncompliance fines and number of noncompliance sanctions.Transport: Describes the impact of transporting your materials & finished products.Overall: Provides the total values of environmental protection expenses and investments.

In order khổng lồ provide information on all of these performance indicators, the GRI reporting framework requires clear & concise data. It takes a team of specialists working with the right tools just lớn collect and calculate this type of data. This data is a large reason why GRI reporting is held in such high global regard and produced some real results.

Getting started with GRI reporting

To get started, many companies are turning khổng lồ sustainability management platforms that help businesses monitor non-renewable energy sources, minimize harmful emissions & waste, reduce operational costs, và ensure regulatory compliance, compile critical data, and tư vấn GRI reporting & other reporting platforms.

Utilizing ESG reporting software and expert ESG consultants can help companies gain a solid understanding of GRI Standards, choose material aspects khổng lồ report on, conduct interviews, report on from the variety of available KPIs, aggregate and analyze sustainability performance data, draft or improve your sustainability report, as well as support organizational transparency and communication.

ESG materiality assessments

With investors inquiring more & more frequently about what your company is doing in regard to responsible investment, how you treat employees và vendors, your dedication lớn sustainability initiatives, and other activities that fall under the ESG umbrella, it’s important to have answers to these questions.

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An ESG materiality assessment empowers you khổng lồ easily report on your current state & outline future initiatives while taking into consideration your business goals và risks. Tải về our guide lớn creating và extracting the maximum strategic value from an ESG materiality assessment.