{"id":251753,"date":"2024-05-28T12:00:00","date_gmt":"2024-05-28T12:00:00","guid":{"rendered":"https:\/\/news.republicofgreen.com\/gri-and-ifrs-collaborate-to-enable-seamless-sustainability\/"},"modified":"2024-05-28T12:00:00","modified_gmt":"2024-05-28T12:00:00","slug":"gri-and-ifrs-collaborate-to-enable-seamless-sustainability","status":"publish","type":"post","link":"https:\/\/news.republicofgreen.com\/gri-and-ifrs-collaborate-to-enable-seamless-sustainability\/","title":{"rendered":"GRI and IFRS Collaborate To Enable Seamless Sustainability"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.3blmedia.com\/sites\/default\/files\/styles\/carousel_2x\/public\/images\/IFRS-interoperability_GRI_052824_0.jpeg\" alt=\"\"\/><br \/>\n<\/p>\n<h5>\n<p>\t\t\tResponding to market demand, the two organizations to work together to optimize how GRI and ISSB Standards can be used together<br \/>\n\t\t<\/h5>\n<\/p>\n<div>\n<p>May 28, 2024 \/3BL\/ &#8211; The IFRS Foundation and the Global Reporting Initiative (GRI) are deepening their working relationship, building upon the Memorandum of Understanding signed in 2022. This collaboration seeks 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.<\/p>\n<p>The increased collaboration will optimize how GRI and ISSB Standards can be used together to facilitate reporting on an organization\u2019s impacts, risks and opportunities, including risks that arise from the organization\u2019s impacts.<\/p>\n<p>The International Sustainability Standards Board (ISSB) and the Global Sustainability Standards Board (GSSB) have committed to jointly identify and align common disclosures that address information needs under the distinct scopes and purposes of their respective standards, for both thematic and sector-based standard setting. An initial outcome of the collaboration will involve a methodology pilot building on the recently published GRI 101 Biodiversity Standard and the ISSB\u2019s upcoming project on Biodiversity, Ecosystems and Ecosystem Services.<\/p>\n<p>The ISSB and the GSSB will continue to make decisions separately in accordance with their established standard-setting due processes, including public consultation in respect of any proposed amendments to their respective standards regarding the alignment of common disclosures.<\/p>\n<blockquote>\n<p>Chair of the IFRS Foundation Trustees, Erkki Liikanen said:\u00a0<\/p>\n<p><em>\u201cIn March 2022, the IFRS Foundation Trustees signed a Memorandum of Understanding with GRI in recognition of the importance of ensuring compatibility and interconnectedness between our respective standards to benefit report preparers and users around the world. The IFRS Foundation Trustees believe today\u2019s agreement solidifies and advances that MoU so that together we can reduce duplication, fragmentation and complexity in the sustainability disclosure landscape.\u201d\u00a0<\/em><\/p>\n<\/blockquote>\n<p>Eelco van der Enden, CEO of GRI said:<\/p>\n<blockquote>\n<p><em>\u201cGRI is fully committed to working with key partners to increase transparency by organizations around the world for their impacts, which cannot be achieved without consistent and clear sustainability reporting. From the outset, our collaboration with the IFRS Foundation has been built on a desire to ensure that GRI and ISSB standards can be used seamlessly together so that sustainability reporting is streamlined and robust. The announcement today marks an important step towards making that a reality.\u201d<\/em><\/p>\n<\/blockquote>\n<p>Carol Adams, Chair of the GSSB said:<\/p>\n<blockquote>\n<p><em>\u201cThe joint-working between the GSSB and ISSB seeks to foster closer integration on standard setting while reinforcing our distinct yet complementary positions within the global corporate reporting landscape. This new agreement recognizes our commitment to enhancing disclosures on an organization\u2019s most significant impacts, as well as their sustainability-related risks and opportunities. The next stage, starting with biodiversity, builds momentum towards a fully aligned global standards system. We believe reporters and stakeholders, including investors, will welcome this step.\u201d<\/em><\/p>\n<\/blockquote>\n<p>ISSB Chair, Emmanuel Faber said:<\/p>\n<blockquote>\n<p><em>\u201cAs the ISSB moves into its next phase of work, including looking at nature and human capital and enhancing the SASB Standards, this advanced collaboration with GRI will strengthen our work. The ISSB\u2019s focus continues to be on meeting the information needs of capital markets. Through this collaboration companies that wish to apply both the ISSB and GRI Standards to facilitate reporting to a broader range of stakeholders will be able to do so in a seamless way. My thanks to GRI and the GSSB for their ongoing partnership.\u201d<\/em><\/p>\n<\/blockquote>\n<p>The ISSB will continue to focus on meeting the information needs of investors about organizations\u2019 sustainability-related risks and opportunities \u2013 more specifically, meeting the common information needs of primary users as defined in ISSB Standards.<\/p>\n<p>The GSSB will continue to focus on meeting the needs of a broad range of stakeholders, including investors, about organizations\u2019 most significant impacts on the economy, environment and people, and contribution to sustainable development.<\/p>\n<p>In November 2023, GRI announced the launch of the Sustainability Innovation Lab (SIL) based in Singapore, in coordination with the IFRS Foundation. The SIL is bringing together global and local partners to advance capabilities for reporting using the GRI Standards and the IFRS Sustainability Disclosure Standards.<\/p>\n<p>In January 2024, the IFRS Foundation and GRI jointly published an analysis and mapping resource: <em>Interoperability considerations for GHG emissions when applying GRI Standards and ISSB Standards<\/em>.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/www.3blmedia.com\/news\/gri-and-ifrs-collaborate-enable-seamless-sustainability-reporting\"target=\"_blank\">Read the article originally published at www.3blmedia.com.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Responding to market demand, the two organizations to work together to optimize how GRI and ISSB Standards can be used together May 28, 2024 \/3BL\/ &#8211; The IFRS Foundation and the Global Reporting Initiative (GRI) are deepening their working relationship, building upon the Memorandum of Understanding signed in 2022. This collaboration seeks to provide a [&hellip;]<\/p>\n","protected":false},"author":136,"featured_media":251754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[390],"tags":[525,1031,6050,6049,6051,584],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.0 (Yoast SEO v20.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GRI and IFRS Collaborate To Enable Seamless Sustainability - Republic of Green News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.3blmedia.com\/news\/gri-and-ifrs-collaborate-enable-seamless-sustainability-reporting\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GRI and IFRS Collaborate To Enable Seamless Sustainability\" \/>\n<meta property=\"og:description\" content=\"Responding to market demand, the two organizations to work together to optimize how GRI and ISSB Standards can be used together May 28, 2024 \/3BL\/ &#8211; The IFRS Foundation and the Global Reporting Initiative (GRI) are deepening their working relationship, building upon the Memorandum of Understanding signed in 2022. This collaboration seeks to provide a [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.3blmedia.com\/news\/gri-and-ifrs-collaborate-enable-seamless-sustainability-reporting\" \/>\n<meta property=\"og:site_name\" content=\"Republic of Green News\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-28T12:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news.republicofgreen.com\/wp-content\/uploads\/2024\/05\/IFRS-interoperability_GRI_052824_0.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"415\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"3BL\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"3BL\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.3blmedia.com\/news\/gri-and-ifrs-collaborate-enable-seamless-sustainability-reporting#article\",\"isPartOf\":{\"@id\":\"https:\/\/news.republicofgreen.com\/gri-and-ifrs-collaborate-to-enable-seamless-sustainability\/\"},\"author\":{\"name\":\"3BL\",\"@id\":\"https:\/\/news.republicofgreen.com\/#\/schema\/person\/b1a9199b5673fc452392fef14a9fb874\"},\"headline\":\"GRI and IFRS Collaborate To Enable Seamless Sustainability\",\"datePublished\":\"2024-05-28T12:00:00+00:00\",\"dateModified\":\"2024-05-28T12:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/news.republicofgreen.com\/gri-and-ifrs-collaborate-to-enable-seamless-sustainability\/\"},\"wordCount\":716,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/news.republicofgreen.com\/#organization\"},\"keywords\":[\"esg\",\"GRI Standards\",\"IFRS Foundation\",\"International Sustainability Standards Board (ISSB)\",\"sustainabiliity reporting\",\"Sustainable Finance &amp; 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