Skip to main content

GRI

The abbreviation GRI stands for Global Reporting Initiative. It is an international independent organization that sets standards for corporate sustainability reporting. The GRI standards are designed to help companies report transparently on their impact on the environment, society and the economy.

On December 14, 2023, the EU Council and the European Parliament reached a provisional agreement on the EU directive on corporate due diligence with regard to sustainability. This is expected to be adopted in mid-2024 and thus become law.

The CSDDD represents an important step towards greater accountability and sustainability in corporate practices. It aims to reduce the negative impact on human rights and the environment in business activities and increases the transparency and accountability of companies in the EU.

Rules and requirements

  1. Transparency: The GRI Standards require companies to report openly on their sustainability performance and impact.

  2. Comparability: The standards are intended to ensure that reports are comparable by providing uniform guidelines for reporting.

  3. Materiality: Companies should focus on and report on the aspects that are material to their business activities.

  4. Stakeholder involvement: Companies are encouraged to involve their stakeholders in the reporting process.

Usage

  1. Sustainability reports: Companies prepare sustainability reports in accordance with the GRI Standards to present their performance and impact in terms of sustainability.

  2. Internal process improvement: The application of the GRI Standards can help companies to improve their internal processes and make them more efficient.

  3. Communication with stakeholders: GRI reports serve as a means of communication with investors, customers, employees and other stakeholders.

Obligations for companies

  1. Regular reporting: Companies that opt for GRI undertake to report regularly on their sustainability performance.

  2. Credibility: The reports should be credible and verifiable.

  3. Continuous improvement: Companies should strive to continuously improve their sustainability performance.

Challenges

  1. Resources required: The preparation of GRI-compliant reports can be time-consuming and resource-intensive.

  2. Complexity: Understanding and implementing the GRI Standards can be complex, especially for smaller companies.

  3. Data collection and management: Collecting and managing the necessary data for reporting can be challenging.

back to overview