IFRS, GRI Collaborate on Interoperability for Sustainability Disclosure Standards

The IFRS Foundation and the Global Reporting Initiative (GRI) announced today an expanded collaboration aimed at optimizing how their respective sustainability reporting standards can be used together. The announcement builds on an initial collaboration agreement between the organizations launched in 2022, aimed at ensuring compatibility and interconnectedness of sustainability-related disclosures, in order to help reduce the reporting burden on companies complying with the multiple standards that were in place or under development, and to help harmonize sustainability reporting systems internationally. According to the IFRS Foundation and the GRI, the expanded collaboration looks to “provide a seamless, global and comprehensive sustainability reporting system for companies looking to meet the information needs of both investors and a broader range of stakeholders.” Under the new agreement, the organizations said that the ISSB and GSSB will work together to identify and align common disclosures, with an initial methodology pilot building on the GRI’s new biodiversity standard, and the ISSB’s recently announced project on Biodiversity, Ecosystems and Ecosystem Services. The IFRS Foundation’s International Sustainability Standards Board (ISSB) was launched in November 2021 at the COP26 climate conference, with the goal to develop IFRS Sustainability Disclosure Standards to provide investors with information about companies’ sustainability risks and opportunities. The GRI Sustainability Reporting Standards are one of the most commonly accepted global standards for sustainability reporting by companies, developed to enable consistent reporting across companies and industries, providing clearer communication regarding sustainability matters to a broad range of stakeholders, including investors. Resources: https://www.esgtoday.com/eurazeo-launches-800-million-planetary-boundaries-solutions-focused-buyout-fund/