GRI and EFRAG are pleased to confirm that they have achieved a high level of interoperability between their respective standards in relation to impact reporting.
GRI and EFRAG publish today a joint statement on the high level of interoperability achieved between the European Sustainability Reporting Standards (ESRS) and the GRI Standards.
Following the requirement of the CSRD to adopt a double materiality approach and to take account of existing standards, ESRS and GRI definitions, concepts and disclosures regarding impacts are fully or, when full alignment was not possible due to the content of the CSRD mandate, closely aligned.
Existing GRI reporters will be well prepared to report under the ESRS. Entities reporting under ESRS are considered as reporting with reference to the GRI Standards and will therefore avoid the burden of multiple reporting.
Eelco van der Enden, CEO of GRI, said:
“This is great news for businesses and for GRI reporters. They can use their current reporting practices to prepare for the new requirements under ESRS. What is more, ESRS reporters are considered as reporting with reference to the GRI Standards and have the possibility to report on additional topics not covered by the ESRS in accordance with GRI Standards. GRI is fully committed to actively engage with EFRAG and other standards setters to reduce the reporting burden for companies. The next step being the collaboration with EFRAG on the development of an interoperable digital taxonomy and multi-tagging system, including a full mapping of the GRI Standards and the ESRS. This further reinforces the relevance of GRI and the critical importance of combining its global approach with the momentum demonstrated at jurisdictional level.”
Carol Adams, Chair of the GSSB, said:
“Since the early stages, we have actively engaged with EFRAG in the development of the ESRS. With this high level of interoperability achieved, we have now turned our attention to developing a detailed mapping of the disclosures from both sets of standards and technical guidance, which will help companies that report using GRI Standards prepare for CSRD requirements. Over time, I look forward to seeing companies reporting under these requirements increase their reporting using GRI sector standards and additional GRI topic standards.”
GRI
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