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With a continued shift towards mandatory sustainability reporting, GRI is supporting global policymakers with an initial set of three new guidance documents. Covering double materiality, due diligence, and the Corporate Sustainability Reporting Directive (CSRD), each publication emphasizes the pertinence of the topic and the significant role played by the globally adopted GRI Standards in helping address them:
In effect since January 2023, the CSRD introduces mandatory sustainability reporting for around 50,000 European companies – while from 2024, non-EU companies listed in EU regulated markets must also report. These developments highlight the importance of achieving alignment between sustainability reporting policies set by different jurisdictions, as supported by interoperability with the GRI Standards.
As the momentum builds towards more transparency around corporate behavior, alongside demands for globally comparable data, GRI is seeking to address policymakers’ questions on how mandatory sustainability reporting can help them tackle challenges in their jurisdictions. Our new publications – the first in a new series – address critical themes related to effective corporate disclosure and signal the importance of policy alignment on a global scale. The GRI Standards are already widely used by major companies around the world and are ideally placed to facilitate robust reporting practices based on the principles of due diligence and double materiality. As demonstrated by our role as co-constructors with EFRAG of the ESRS, and collaboration with the ISSB, GRI is a catalyst for corporate transparency and accountability.
Peter Paul van de Wijs, Chief Policy Officer at GRI