#GRIStandards Twitter Chat Recap: GRI and Northern Trust Discussed the Recently Launched Reporting Standards

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#GRIStandards Twitter Chat Recap: GRI and Northern Trust Discussed the Recently Launched Reporting Standards

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#GRIStandards Twitter Chat Recap http://bit.ly/2hcJc9R @GRI_Secretariat & @NTCSR Discussed the Recently Launched Reporting Standards
Monday, December 12, 2016 - 8:25am

Read the #GRIStandards press release

Read the Storify archive

On November 16th, leaders from GRI and Northern Trust joined us to talk about the new GRI Sustainability Reporting Standards. As the chat got started, our panelists and audience dove right into the conversation – sharing data, facts and figures. The panelists started the formal conversation with some introductions and quick facts about the GRI Standards:

As the chat continued, Northern Trust, GRI and other chat participants explained the importance of the new standards and how these can better serve reporting organizations.

  • Northern Trust began its use of the GRI framework in 2010 after engaging with internal stakeholders #GRIStandards - @NTCSR (tweet)
  • The framework’s increased focus on materiality has been a catalyst for the evolution of our CSR strategic direction #GRIStandards - @NTCSR (tweet)
  • We seek to increase the ease with which we engage our internal and external stakeholders #GRIStandards - @NTCSR (tweet)
  • They give companies clear guidelines to follow #gristandards - @Lundquist (tweet)
  • Modular structure means more timely updates in a more digestible format #GRIStandards - @GRI_Secretariat (tweet)
  • Clarifications to content mean easier for reporters to know what they need to report & how to report it #GRIStandards - @GRI_Secretariat (tweet)
  • As #csr has evolved from 'do less harm' to 'do good' to 'be good' #GRIStandards have evolved (and pushed) the evolution. - @JohnFriedman (tweet)

Discussion around the new GRI Standards continued throughout the chat and later focused on ways to measure the success of a report, the importance of the new standards for companies like Northern Trust, alignment of reporting with business goals, and more.

  • We measure success by closely monitoring the number of clients and prospects who seek out our sustainability data #GRIStandards - @NTCSR (tweet)
  • Personal opinion: #CSR reports should be integrated with Annual Report; but best ones combine CSR/strategy/goals/results #GRIStandards - @JohnFriedman (tweet)
  • Imitation is best form of flattery. Great to see reporting innovators get recognized by peers for new best practices #GRIStandards – Dave Armon (tweet)
  • We see this evolution as an important step towards more readability, comparability and transparency in the CSR space #GRIStandards - @NTCSR (tweet)
  • Standardization allows for both reporter & consumer to use this data for max impact w/ min effort #GRIStandards – @NTCSR (tweet)
  • It formalizes an important process and provides international recognition #gristandards - @Lundquist (tweet)
  • I think (and hope) the new standards will drive more comparability and make the reports easier for the public to read #gristandards - @BeckyLoya (tweet)
  • As with any shift in best practices which is voluntary, the challenge is widespread adoption across sectors #GRIStandards - @NTCSR (tweet)
  • #GRIStandards can be used to fulfill transparency obligations under the EU Directive and other global regulations - @GRI_Secretariat (tweet)
  • We see increased regulatory pressure for transparency as the most obvious trend in reporting #GRIStandards - @NTCSR (tweet)

Overall this was a greatly informative chat that went over various areas related to the new GRI Standards and the impact on the future of reporting. Make sure to go into the Storify archive to catch a glimpse of all the tweets! Many thanks to GRI and Northern Trust.