Global Reporting Initiative (GRI)’s Post

More helpful #CSRD resources from Global Reporting Initiative (GRI) - a co-constructor of the #ESRS. Check out the #CSRDEssentials resources to learn more about the #EU directive that will have global implications for corporate #transparency, #accountability & #Sustainability/ #ESG disclosures. #SustainabilityReporting #ImpactReporting #DoubleMateriality #ESGReporting

❕ Good news for companies struggling with various reporting standards and their differences: EFRAG and GRI enhanced their collaboration and worked on a GRI-ESRS Interoperability Index, which reveals how the CSRD and GRI requirements are related to each other. It is a great step towards less complexity in reporting matters and the prevention of double reporting. Furthermore, it facilitates the preparation for reporting according to ESRS based on existing GRI reports. ➡ Read more about it in the press release: https://lnkd.in/eyiaB-wm #GRI #CSRD #ESRS #sustainabilityreporting #sustainable #business #denkstatt #createsustainablevalue

Exciting update!🌍 The GRI-ESRS Interoperability Index is now public, awaiting approval at December's EFRAG meetings. This tool simplifies reporting, connecting disclosure requirements for a smoother process, ESRS entities now report 'with reference' to GRI standards, letting GRI reporters use their existing efforts for their ESRS "Sustainability statement. Ziad KADHI Amira Klouj Source: EFRAG / GRI #ESG #GRI #CSRD #ESRS

More commitments to collaberations to bring about a consistent & comparable global #Sustainability / #ESG reporting system! Following a successful partnership between EFRAG & Global Reporting Initiative (GRI) over the past 3 years a new GRI-ESRS Interoperability Index is now available. The 2 organizations have enterered into a new cooperarion agreement. Areas of collaboration include: - Standards & guidance development, including existing & new sector standards; proportionate reporting for SMEs in the EU; standards for non-EU companies for which the #CSRD will apply. - Education & training for #ESRS preparers & users, leveraging the GRI Academy & professional certification programs. - Interoperability of digital XBRL taxonomies, with a simplified tagging system & digital correspondence table between both standards. Check out GRI North America's 3BL post to learn more: https://lnkd.in/eGDNgv8i #CorporateReporting #SustainabilityReporting #CorporateTransparency #ESGReporting #DoubleMateriality #Impact #ImpactReporting #csrd

I have read the draft of the index of interoperability between the European Sustainability Reporting Standards (ESRS) and the Global Reporting Initiative (GRI) Standards, devised by EFRAG and Global Reporting Initiative (GRI), and I was astonished by the level of alignment and complementarity between the two sets of sustainability standards. The index is a useful instrument for the entities that shall report their environmental, social and governance impacts, according to the Corporate Sustainability Reporting Directive (CSRD), which shall come into force in 2024 in the European Union. The index showed how the entities can report with reference to the GRI Standards, using the ESRS as a foundation, and how they can report in accordance with the GRI Standards, adding the applicable requirements of the GRI that are not covered by the ESRS. In this manner, the entities can take advantage of the benefits of both sets of standards, which are recognised globally as references of quality and credibility in the matter of sustainability. The index also announced the development of a digital correspondence table, which shall permit a digital interoperability between the ESRS and the GRI Standards, facilitating the process of reporting and verifying the information. This is a commendable initiative, which demonstrated the commitment of EFRAG and Global Reporting Initiative (GRI) in simplifying and harmonising the system of sustainability reporting in the European Union and in the world. Congratulations to EFRAG and Global Reporting Initiative (GRI) for the excellent cooperation and the result achieved. I recommend the reading of the draft of the index, which can be found in the link hereafter.

Following increased alignment between EFRAG and GRI, a new Memorandum of Understanding has been signed to signify the benefits of the interoperability achieved between the ESRS and the GRI Standards. The GRI-ESRS Interoperability Index (draft) is now available. Key highlights: - Tool outlines disclosure requirements and data points alignment, highlighting existing commonality - Aims to construct reciprocal digital taxonomy for streamlined reporting Interoperability eliminates dual reporting, fostering user-friendly systems - Entities reporting under ESRS will be deemed reporting ‘with reference’ to the GRI standards - Existing GRI reporters can adapt current efforts for ESRS 'Sustainability statement' preparation Click here to view the GRI-ESRS Interoperability Index (draft): https://lnkd.in/eu5MTjWT #gri #esrs #sustainabilityreporting #efrag #esg 

🌐 Exploring the Game-Changing GRI-ESRS Interoperability Index: A New Era in Reporting Standards Collaboration 📊 Have you caught wind of the groundbreaking collaboration between the Global Reporting Initiative (GRI) Standard and the European Sustainability Reporting Standards (ESRS) through the innovative GRI-ESRS Interoperability Index? What's the buzz all about? This index marks an exciting milestone in the partnership between the European Financial Reporting Advisory Group (EFRAG) and GRI. It outlines how the disclosures in both standards align, aiming to prevent duplicative reporting and streamline reporting processes. What lies in the future? This achievement represents just the beginning of an ambitious initiative to further synchronize these standards. Emphasis will be placed on crafting new sector-specific standards and extending guidelines for non-EU entities. As part of this effort, GRI is set to be accredited by EFRAG as an ESRS training organization, offering education and guidance to ESRS preparers and users. Additionally, the upcoming digital XBRL taxonomy within ESRS will seamlessly integrate with the GRI standard ensuring a unified approach. 🌟 Anticipating the impact As the ESRS and GRI continue their alignment journey, the pivotal role of the EU Taxonomy within ESRS is set to magnify. This convergence promises to significantly shape the alignment process. Explore how VIRIDAD’s cutting-edge digital solutions can expedite and optimize your path towards the EU Taxonomy report. Check out our website (https://www.viridad.eu/) and witness firsthand how our tool can elevate your reporting experience! #GRI #ESRS #ReportingStandards #Sustainability #EU #Collaboration #Innovation #LinkedInBlogPost

🌐 What are the major 6 Key Differences between NFRD and CSRD that are reshaping the landscape of corporate sustainability? 🚀🌿 1️⃣ Double Materiality: A groundbreaking mandatory element in CSRD, broadening the scope beyond financial impacts. 2️⃣ Expanded Company Scope: More companies are now included under CSRD, enhancing inclusivity in sustainability reporting. 3️⃣ Detailed Reporting Standards: CSRD introduces more comprehensive reporting requirements for ultimate transparency. 4️⃣ Audit Requirement: Trust in sustainability reports gets a boost with the audit/assurance requirement under CSRD. 5️⃣ Digital Reporting in XHTML: Embracing the digital era with machine-readable sustainability information. 6️⃣ Integration with EU Finance Regulations: A strategic alignment that signifies a new era in reporting. #SustainabilityReporting #CSRD #NFRD #ESG #DigitalTransformation #CorporateResponsibility

We have some exciting developments in European Sustainability Standards. Recently, the EU Parliament reaffirmed ESRS integrity, and EFRAG published a draft version of ESRS Datapoints with 1,177 metrics. They also launched an ESRS Q&A Platform to address technical queries from the public. To help you prepare, check out the following materials: ✅ Mazars’ Guide to the European Sustainability Reporting Standards (ESRS) - https://bit.ly/3MvdFNC. ✅ Draft Full set of metrics - https://bit.ly/46aahyx. Don’t forget, out the 1,177 metrics, companies are expected to report only on material matters and further, material information. ✅ Draft Implementation guidance of the ESRS Datapoints - https://bit.ly/3QPyTZh. Please note, the final version will be approved later this year. Do you have questions? Submit them to EFRAG here: https://lnkd.in/eY9Pvejy. Cc: Laura Negrisoiu, PMP, FCCA. #ESRS #SustainabilityReporting

Ready for 2024... but also, ready for #CSRD? 2023 has been an important year for the evolution of sustainability reporting in the EU. With the formal validation of the CSRD reporting standard ESRS in July, a number of practical tools and recommendations, a mapping table to translate #GRI-based reports to #ESRS, and most recently 3 recommendation guideline documents. Large companies most probably already have done their homework and will report as from 2025 (reporting year 2024), the second wave of companies then will have to report as from 2026 (reporting year 2025) according to CSRD. For those, 2 years to prepare, get organized, set-up processes and tools...