Updated MOU Strengthens Commitment for GRI Standards and ESRS Alignment
GRI and EFRAG have now signed a new Memorandum of Understanding, reaffirming their commitment to collaborating on the interoperability of the GRI Standards and European Sustainability Reporting Standards (ESRS). The renewal of the partnership agreement marks a pivotal step towards increased collaboration and harmonization of the sustainability reporting landscape.
Additionally, the two organizations have unveiled a GRI-ESRS Interoperability Index. This tool illustrates the alignment between ESRS disclosure requirements and data points with the GRI standards, enabling existing GRI reporters to leverage their current reporting efforts to prepare their ESRS ‘Sustainability statement’. This resource is a crucial aid in simplifying the complexities of sustainability reporting and is relevant to the organizations in North America as well, as over 3,000 US and 1,300 Canadian organizations are expected to be directly pulled into the CSRD double materiality disclosure requirements, according to Refinitiv.
“The partnership between GRI and EFRAG has already borne fruit by ensuring that the new EU standards and the GRI Standards – which many companies in Europe and beyond are using to report their impacts — are closely aligned. Encompassing practical resources and training alongside deeper engagement on standards, this new MoU reassures companies and all stakeholders of our joint commitment to an aligned, efficient, and feasible EU and global ecosystem for impact reporting. I look forward to continued collaboration with our European partners to achieve this aim.”
-Eelco van der Enden, CEO of GRI
GRI has also launched a new online course Transparency for Tomorrow: Decoding the Sustainability Reporting Landscape. The Reporting Landscape course covers the latest evolutions in the global sustainability and ESG disclosure landscape, including concepts crucial to understanding the differences between the various instruments that populate the landscape. It presents an overview of the main sustainability reporting instruments, including the GRI Standards, European Sustainability Reporting Standards, IFRS Sustainability Disclosure Standards, U.S. SEC Climate Disclosure Rule, TCFD and TNFD recommendations. Furthermore, it emphasizes the alignment between these instruments, describing how they can be used in conjunction with the GRI Standards to enhance reporting effectiveness.
The course is available on GRI’s digital platform, the GRI Academy, along with the four courses that are part of the criteria to achieve the GRI Sustainability Professional credential. Additionally, the platform offers courses covering Topic Standards like Tax, Sector Standards such as Oil and Gas, and comprehensive training like the GRI Content Index, all aimed at enhancing your reporting proficiency.
