Standards for Sustainability Reporting
There are a number of standards and protocols for conducting sustainability reporting. The main internationally recognised standards include the Greenhouse Gas (GHG) protocol, the Global Reporting Initiative (GRI) and Carbon Disclosure Project (CDP). The Global Reporting Initiative (GRI) is an international independent standards organization that helps businesses, governments and other organizations communicate their impacts on economic, environmental and social issues.
GRI’s framework for sustainability reporting helps companies identify, gather and report this information in a clear and comparable manner. First launched in 2000, GRI’s sustainability reporting framework is at the moment the most popular, known, and accepted framework used by multinational organizations, governments, small and medium enterprises (SMEs), NGOs and industry groups.
The GRI Framework
The GRI framework aims to enable third parties to assess environmental impact from the activities of the company and its supply chain. The framework consists of several elements, including universal standards used by every organization that prepares a sustainability report and topic-specific standards on economic, environmental and social topics. Each topic-specific standard specifies particular disclosures relevant for the topic, and sets indicators and metrics for them. An organization can opt for the comprehensive reporting, i.e. covering all disclosures and indicators of the GRI standards, or alternatively go for the core reporting, i.e. report all the general (universal) disclosures and selective topics that organization found material for itself.
The GRI sustainability reporting aims to standardize and quantify the environmental, social and governance costs and benefits derived from the activities of the reporting companies accordingly.
Ecomatters Support in GRI Reporting
Sustainability reporting is more and more a thing to do, but it is a lot to measure, count, and describe, and first rounds can be painful. Once done, it will help you to stay on top of your performance, develop your strategy in a clear metric. Our advice – be mindful when choosing a framework for your reporting: with required consistency, it will define your path for the consequent years.
Ecomatters provides sustainability support in many capacities. Our strategic advice, target-setting and reporting service can help you ensure that your organisation’s reporting meets regulatory requirements as well as your corporate objectives. We support companies in determining how best to implement the GRI framework in their organisational structure. It is our priority to work closely with you to go beyond the numbers and make sustainability mean something productive for your business. In order to offer effective support, we are up to date on the GRI framework and have implemented it for various types of companies.
Our experts can:
- Support in understanding how the GRI (Comprehensive & Core) can be best implemented to fit the company strategy.
- Support in calculations of the environmental footprint of products or the organisation.
- Design and support in reporting systems, compliant with the GRI Framework.
- Help your organisation measure carbon emissions under your direct control (scope 1 and 2 emissions) as well as your organisation’s indirect (scope 3) emissions.
- Value chain analysis, development of customized tools and marketing activities.
- Support in the review or audit process of sustainability reporting as part of the annual report.