What is the purpose of GRI?
GRI (Global Reporting Initiative) is an internationally recognized standard for CSR reporting to help organizations set goals, measure performance, and manage change in order to make their operations more sustainable. The guidelines are now in their 4th version (G4).
G4 process in a few words:
– Identify your company’s “Material Aspects”, e.g. the environmental, social and other CSR impacts that your organization is facing and how they relate to the broader sustainability context. In this sense, you will be focused only on what truly matters and how it impacts your stakeholders. When defining such issues, it is fundamental to consult them to match your organization’s priorities with theirs. This step is also called “Defining Report Content”.
– Prepare the data to be submitted in the report: the “General Standard Disclosures” (including “Material Aspects” and “Stakeholder Engagement”) and “Specific Standard Disclosures”, whose contents will depend on the “Identified Material Aspects”. Here you can choose the extent to which your company wishes to report, with “Core” and “Comprehensive” option. During this step, “Principles for Quality” are to be complied to make sure that the report is comparable, accurate, understandable,…
– Write and shape the report. You can choose any structure, for instance according to your strategy’s pillars. You just need to include the GRI index showing the indicators can be found. If the report is not complete, a given statement will be added.
– Publish your report and notify GRI.
What are the benefits?
- Identify CSR priorities
- Track performance
- Benefit from competitive advantage
- Enhance relations with stakeholders
- Facilitate comparability
DFGE is happy to answer your questions and provide more support.
For more information, please consult the GRI-Website or check this video focusing on the differences between GRI3 and GRI4: