On Friday 24 May, the sustainable standards body the Global Reporting Initiative (GRI) and the International Sustainability Standards Board (ISSB), part of the IFRS Foundation, announced that they would be strengthening their working relationship to ensure full interoperability in the area of corporate sustainability reporting.
This collaboration aims to provide a seamless, global and comprehensive system for companies looking to meet the information needs of investors and a broader range of stakeholders. It optimises how the GRI and ISSB standards can be used together to facilitate sustainability reporting on an organisation’s impacts, risks and opportunities. The IFRS Foundation and the GRI are building on the Memorandum of Understanding signed in March 2022.
However, the ISSB and the GRI will continue to make decisions separately, in line with their established standard-setting procedures, including public consultation on any proposed amendments to their respective standards relating to the alignment of common disclosures.
“The next stage, starting with biodiversity, builds momentum towards fully aligned standards”, emphasised Eelco van der Enden, CEO of the GRI, in a press release. (Original version in French by Anne Damiani)