Introduction
The Global Reporting Initiative (GRI) is an international, independent organization that first published a disclosure framework for sustainability reporting in 1999 to help companies and governments worldwide understand and communicate their sustainability impacts and performance. In 2016, GRI Sustainability Reporting Standards, the world's first and most widely used sustainability standard, were officially published, followed by the publication of the GRI Universal Standards 2021, which comes into effect in January 2023.
GRI reporting framework
The GRI Standards are categorized into four series, each applicable to specific product types, requiring companies to select the appropriate series based on their own products.
Disclosures
Material topics
The ranking of material topics varies by industry.
GRI and SASB collaboration
GRI and SASB provide complementary standards for sustainability to achieve distinct goals based on different materiality approaches. GRI focuses on the economic, environmental, and social impact of companies in terms of sustainable development; SASB focuses on ESG issues that are expected to have a significant financial impact on companies, which is designed to meet demand from most investors and other financial capital providers. Companies in various industries, including ArcelorMittal, PSA Group, DIAGEO, and Nike, use both GRI and SASB standards to meet the needs of their audiences.