24 Jan GRI Creates Global Standards for Sustainability Reporting
As part of an effort to increase corporate sustainability transparency on a global basis, the Global Reporting Initiative (GRI) recently released a new set of global sustainability reporting standards, according to Sustainable Brands. The sustainability standards—aptly titled the GRI Standards—will, in effect, help firms across the planet to understand how to effectively report their annual sustainability efforts. Hopefully, by releasing these sustainability standards, GRI should make it easier for global firms to achieve the United Nation’s Sustainable Development Goals.
The new GRI standards are designed to make sustainability reporting not only more transparent for companies, but also much easier and practical to carry out, as well. The current reporting standards—the G4 Guidelines—are the most widely used by global firms, but the standards will be phased out gradually by July 1, 2018 and will be replaced by these new sustainability standards.
The GRI Standards feature a set of 36 modular standards that cover corporate reporting protocol on a number of sustainability related topics, including greenhouse gas emissions, labor practices, and energy and water use. Interestingly, the new format allows GRI to customize the particular topics included on the list based on sustainability and market needs. The list also allows companies the opportunity to report on individual topics, and it permits companies to report on a broader level, touching on sustainability issues that affect a company’s overall sustainability outlook.
GRI pushed for new standards based on UN’s latest Sustainability Goals. The UN’s goals are far-reaching and ambitious—they aim, for instance, to combat poverty and produce affordable clean energy on a global-basis in the near future—and in order to achieve these goals, companies and nations need a more efficient way to track and report the progress of their sustainability efforts. By producing these sustainability standards, GRI is making it much simpler for companies to achieve their sustainability goals in a practical fashion while also keeping the public informed about their efforts. Companies large and small throughout the world are working hard to become more environmentally friendly. In fact, one family-run packaging company here in the U.S. recently found a way to not only achieve greater sustainability but also generate new business opportunities too. Read more about this company here.
If your organization is looking for “end-of-life solutions” for your products in order to meet goals like GRI, consider partnering with Good360 where you can help those in need and meet sustainability goals as well.