Seemingly right on the heels of GRI G4 Guidelines is the GRI Sustainability Reporting Standards. Launched last 19 October 2016, its aim is to set a common language among companies for non-financial information disclosure and provide a means for even greater transparency on the economic, environmental and social impacts companies make.
The GRI Standards: an even better strategic reporting tool
While reception to the GRI G4 Guidelines have been positive and it remains the most widely used framework for sustainability reporting, the G4 guidelines are often subject to misinterpretation and reporting loopholes. We have seen sustainability reports serve as a platform to showcase revenue performance. Sometimes, imbalanced reporting occurs when positive impacts disproportionately outweigh negative effects.