Introducing the GRI Standards

Summary

This webinar introduces the new GRI Standards for sustainability reporting, replacing the G4 guidelines. The 20-minute presentation covers the background of GRI, an overview of the standards, key benefits, and new features like the modular structure. It explains the three Universal Standards and topic-specific standards, emphasizing materiality and management approaches. The transition from G4 is detailed, with resources provided to assist reporters in adopting the updated standards by July 2018.

Takeaways

• 📚 The webinar introduces the new Global Reporting Initiative (GRI) standards, highlighting their significance in sustainability reporting.
• 🌟 GRI has released the first-ever set of sustainability reporting standards, marking a major evolution from the previous G4 guidelines.
• 🔄 The new modular structure of the GRI standards allows for independent updates and additions, enhancing flexibility and future-proofing the framework.
• 🏢 There are three Universal standards applicable to all organizations and a series of topic-specific standards covering economic, environmental, and social impacts.
• 📈 The focus on materiality in the GRI standards helps organizations to report on the impacts that matter most to their stakeholders.
• 📘 GRI 101 Foundation is the starting point for using the standards, outlining reporting principles and how to prepare a report in accordance with the standards.
• 🔑 The standards provide clear distinctions between reporting requirements, recommendations, and guidance, simplifying the reporting process.
• 🔍 The transition from G4 to the new GRI standards includes content clarifications and an overall editing review for improved consistency and quality.
• 🗓️ Organizations using G4 have a generous transition period, with the new standards required for reports published on or after July 1, 2018.
• 🛠️ Additional resources such as a detailed mapping document, training modules, webinars, and in-person events are available to support the transition to the new standards.
• 🌐 The GRI standards were developed through a transparent and inclusive process, ensuring their credibility and robustness as a global framework for sustainability reporting.

Q & A

What is the main purpose of the webinar?

The main purpose of the webinar is to introduce the new set of GRI (Global Reporting Initiative) standards and provide an overview of their key benefits, features, and changes compared to the previous G4 guidelines.

Who are the presenters of the webinar?

The presenters of the webinar are Basim Buck, the director of the Standards Division at GRI, and Chad C. Reinhardt, the deputy director of the Standards Division.

What are the GRI standards?

The GRI standards are the first global standards for sustainability reporting, representing the latest evolution of GRI's original sustainability reporting guidelines, now restructured into a set of modular, interrelated standards.

How long is the presentation expected to run?

The presentation is expected to run for about 20 minutes in total.

What are the three Universal standards in the GRI standards?

The three Universal standards are GRI 101 Foundation, which explains how to use and reference the standards; GRI 102 General Disclosures, for reporting contextual information about the organization; and GRI 103 Management Approach, to report how the organization manages its material topics.

What is the significance of the modular structure in the new GRI standards?

The modular structure allows for individual standards to be updated independently or new ones to be added without revising the entire set, ensuring the standards stay relevant and up-to-date while protecting the investment in GRI reporting.

How does the focus on materiality in the GRI standards benefit reporters?

Focusing on materiality helps reporters identify the topics with the most significant impacts and influence on stakeholders, enabling them to report on the impacts that matter most.

What are the main reasons for GRI's transition from G4 to the new standards?

The main reasons are to create a more flexible and future-proofed structure, allow for broader referencing by governments and market regulators, provide a single solution for a range of sustainability reporting needs, and develop the standards following a transparent and robust process with diverse stakeholder input.

What is the transition period for reporters to adopt the new GRI standards?

Reporters will have a generous transition period, with the standards required for all reports published on or after the 1st of July 2018, although many organizations are expected to begin using the standards ahead of this timeline.

What additional resources are available to help understand and implement the new GRI standards?

Additional resources include a detailed mapping document for understanding changes or clarifications, half-day training modules, live webinars, in-person launch events, and a GRI Standards Pioneers program for early adopters of the standards.

How has the concept of 'impact' been clarified in the GRI standards compared to G4?

In the GRI standards, 'impact' explicitly refers to effects on the economy, environment, and society, rather than impacts on the organization itself, emphasizing the need to focus on external impacts when identifying material topics.

What is the new approach to the topic boundary in the GRI standards?

The topic boundary concept has been simplified and requires organizations to disclose and take responsibility for impacts they cause directly, contribute to, or are directly linked to, such as through relationships with suppliers or customers, and to describe where these impacts occur.

How has the terminology related to 'employee' and 'worker' been reviewed in the GRI standards?

The terminology related to 'employee' and 'worker' has been reviewed and revised where necessary to improve consistency across the standards and better align with key international instruments.

What is the process for organizations to notify GRI of the use of the standards in their published materials?

Any use of the GRI standards in published materials requires notifying GRI, which is free of charge and can be done via the GRI website, to help GRI understand where and how the standards are used for future improvements.