How GRI is addressing the challenges of global reporting

#GRI #ESRS #Innovation: Shaping the Future of ESG Key Takeaways:

• Interoperability between GRI standards and ESRS enhances impact reporting.
• Digital taxonomy simplifies compliance, reducing reporting costs significantly.
• Collaboration with ISSB and IFRS signals a unified approach towards sustainability.

Further Insights

1. GRI's Direction: Focused on making compliance easier and cost-effective through digital taxonomy and alignment with other standards.

2. Interoperability: Achieving a seamless alignment between GRI standards and the European sustainability reporting standards (ESRS).

3. Collaborations: Significant collaboration with ISSB, IFRS Foundation, and the establishment of the Sustainability Innovation Lab in Singapore.

4. Global Impact: GRI's standards are utilized by over 10,000 companies globally, evidencing its substantial influence on ESG reporting practices.

5. Sector-Specific Support: Commitment to aiding Europe in standard setting activities, particularly around sector standards, and designing education for businesses.

6. Future Forward: Future GRI initiatives aim at harmonizing global reporting landscapes to facilitate more inclusive and comprehensive ESG reporting.

Closing Thoughts: As GRI strides towards simplifying and lowering the cost of compliance through digital taxonomy and global standard alignment, are businesses and policymakers prepared to leverage these changes for fostering a sustainable future?

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