Global Reporting Initiative Standards
The Global Reporting Initiative Standards are modular sustainability reporting standards for organizations to report their impacts on the economy, environment, and people, including human rights. Universal Standards guide all reporters, Sector Standards provide sector context, and Topic Standards specify disclosures for particular material topics.
In simple terms
An organization begins with the Universal Standards, identifies its most significant impacts and material topics, and uses applicable Sector and Topic Standards to report how those impacts are managed. The perspective centers on the organization's positive and negative contributions to sustainable development, including impacts connected through business relationships. GRI reporting can complement IFRS S1, but their reporting perspectives are not interchangeable. The collection changes over time as standards are issued or revised, so a report should identify the standards and versions used and meet the requirements for any GRI reporting claim.
Why it matters
In corporate sustainability reporting, GRI provides a widely used common language for public accountability about organizational impacts. Its impact perspective helps workers, communities, civil society, investors, and other stakeholders understand effects that may not yet be financially material to the organization. Modular standards can improve comparability, provided reporters use the applicable sector context, explain omissions, and apply the effective versions consistently.
Example
For example, a mining company applies the Universal Standards, reviews the applicable Sector Standard, identifies water, biodiversity, worker safety, and community impacts as material, and then uses the relevant Topic Standards. It reports impact management and required disclosures while naming each standard version used.
How it differs
IFRS S1
GRI Standards focus on an organization's impacts on the economy, environment, and people. IFRS S1 focuses on sustainability-related risks and opportunities that could affect enterprise prospects for primary users of general purpose financial reports.
References
Current status
- As of
- Issuer
- Global Sustainability Standards Board
- Instrument or version
- GRI Universal Standards 2021 and the current applicable Sector and Topic Standards
- Status
- The GRI Standards are a current modular system of Universal, Sector, and Topic Standards, with individual standards carrying their own publication and effective dates.
Applicability: Use is generally voluntary unless incorporated into law, policy, contract, or listing requirements; an organization must check the effective version and GRI 1 requirements for its reporting claim.