Big Changes In Store For GRI Universal Standards
/GRI’s revised UNIVERSAL STANDARDS Exposure Draft is now LIVE!
GRI Universal Standards (101, 102, and 103) are getting revised, and some of the proposed changes could greatly impact your reporting process.
GRI’s proposed changes to the Universal Standards (101, 102, and 103) seek to ensure companies show full transparency for their impacts on sustainable development. The revision of Universal Standards plays a crucial role in helping organizations demonstrate accountability in a consistent way and to enhance the overall quality of their reporting.
Access the GRI Universal Standards Exposure Draft, and supplemental material here and a learn more about the Exposure Draft’s significant proposals and changes in this 41 minute pre-recorded webinar.
What are most significant proposed changes?
Some of the proposed changes that could substantially affect your reporting process include:
No more “Core” and “Comprehensive” reporting options
The term “Stakeholder” is redefined as individuals or groups that have interests that are, or could be, affected by an organization’s activities and decisions
The term “Material” is redefined as the most significant impacts on the economy, environment, and people
8 Reporting Principles instead of 10
All (revised) Governance disclosures, 15 of them, will be REQUIRED
Integration of Sector Standards
Convening “Expert Panels” to enhance credibility of reporting
Consolidation of Environmental and Social Compliance (GRI 307 and GRI 419, respectively) into a REQUIRED disclosure
Reorganized and clarifications to GRI 103: Management Approach 2016
Guidance for prioritizing negative impacts based on their severity and likelihood
Incorporates Recommendations of the GRI Technical Committee on Human Rights
GRI Q&A Sessions on the Exposure Draft of GRI's Universal Standards:
GRI is offering two Q&A webinar sessions on July 9 to address any questions you may have regarding these revisions. You may submit questions by July 6, 9:00am CEST to universal@globalreporting.org.
Click on the dates below to register:
Public Comment Due September 9, 2020
Provide your feedback using this online survey to ensure that the revision supports you with clear, transparent reporting, and that the Universal Standards are practical to use. Comments to the exposure draft submitted to GRI by September 9, 2020 will be considered into Q1 2021 with the release of the final revised standards anticipated during the first half of 2021.
As a GRI Certified Training Partner, KERAMIDA has unique insight on these changes to share with our clients. Contact us to learn how we can help you begin adapting your reporting processes so that you are prepared to be one of the first to adopt the new Universal Standards and demonstrate your leadership in GRI reporting.
Contact:
Becky Twohey, Ph.D.
Vice President, ESG Strategy, Planning and Reporting
KERAMIDA Inc.
Contact Becky at btwohey@keramida.com
