Waste reporting disclosures being developed by GRI
May 1, 2019 /3BL Media/ - In the face of a growing global waste crisis, new corporate reporting disclosures are being developed by GRI to help organizations better understand and communicate their waste impacts.
International recognition of the need for action on waste is increasing. The scale of the issue – from the effect of plastics in marine ecosystems to the mounting disconnect between food waste generation and global hunger – illustrate why businesses and other organizations need to play their part by improving waste management practices.
A Financial Times article on 2 April carried sweeping claims by Hans Hoogervorst, chair of the International Accounting Standards Board (IASB), that ‘greenwashing is rampant’ in sustainability reporting. The Global Reporting Initiative (GRI), the leading independent sustainability standards body, categorically refutes this assertion.
The first GRI Sector Standard will focus on oil, gas and coal.
April 4, 2019 /3BL Media/ - GRI is beginning a new program to help organizations within sectors to better understand, report and collaborate on their shared global sustainability challenges.
GRI is inviting nominations to join an expert working group to produce the first GRI Sector Standard, for oil, gas and coal. Sector Standards will help companies in a specific sector to define their economic, environmental and social impacts, enabling improved transparency and accountability on the sustainable development issues that matter most.
GRI challenges governments and companies to work closer together on SDG reporting.
April 3, 2019 /3BL Media/ - Global Reporting Initiative chairman Eric Hespenheide has called for greater cooperation between businesses and governments to achieve the UN Sustainable Development Goals (SDGs).
Following the Board of Directors holding their bi-annual meeting in India, GRI today (3 April) partnered with the Bombay Stock Exchange to hold a special dialogue event in Mumbai entitled ‘Business Innovation and Leadership for Sustainable Development Goals’.
Small changes can go a long way, as the largest non-banking financial institution in Bangladesh, IDLC, has seen through its community outreach projects. Giving back to the community has by now become anchored in the values not only for staff, but also for the users of IDLC’s services.
Corporate social responsibility (CSR) and sustainability initiatives have gone mainstream, but they are missing something important: They ignore corporations’ political actions, including lobbying and campaign funding, which can drastically alter corporations’ environmental and social impact. In some cases, companies cynically engage in the strategy of “talking green while lobbying brown.” Corporations report on social and environmental sustainability metrics but typically not on political ones, which can allow them to get away with irresponsible lobbying activity.
The International Organization of Securities Commissions (IOSCO), the international body that brings together the world’s securities regulators, published their Statement of Disclosure of ESG Matters by Issuers on 18 January 2019. With the statement, IOSCO recognizes the importance of considering Environmental, Social and Governance (ESG) information as material for investors.
In today’s digital world transparency is a given, but evidence is now critical. The TCFD recommendations and the SDGs will change sustainability reporting adding further pressure on companies to disclose validated data, quantify impact and showcase future resilience.