GRI and Australia Partner to Improve Lives Across Pacific

August 31, 2015 /3BL Media/ - Today, GRI, pioneer of the sustainability reporting process, and the Australian government announced a new partnership to increase corporate transparency across Southeast Asia. With funding of $1,000,000 over 15 months, the partnership will promote sustainable trade and investment in Indonesia, Philippines, Sri Lanka, Papua New Guinea and Australia.

Australia’s Department of Foreign Affairs and Trade (DFAT) has entered into a partnership with GRI, called Accelerating Sustainable Economic Development through Sustainability Reporting.  This new alliance will contribute to the Australian Government’s efforts to create a more sustainable economy in Southeast Asia. The program will explore how the sustainability reporting process can be used to address challenges that prevent businesses in the region from fully participating in the global economy. This is an example of how GRI helps developed countries invest millions in sustainable development activities in emerging markets to address poverty, human rights and climate change.

“The Indo-Pacific region is experiencing significant growth, and it is important for foreign investors and governments to know that environmental and social impacts are being taken into account,” said GRI’s Chief Executive Michael Meehan. “We’ll be working to help businesses grow while increasing transparency, promoting gender equality and tackling corruption. We will also help the mining sector become a safer and more environmentally responsible industry.”

GRI’s Sustainability Reporting Standards will be the foundation of all projects started during this partnership.  Accelerating Sustainable Economic Development through Sustainability Reporting is a program with three main components:

Reducing risk and enhancing efficiency in the supply chain
Sustainability reporting can help small and medium-sized companies manage risk through increased transparency. This is important for access to capital and contracts with multi-national corporations, which are increasingly demanding transparency from potential suppliers. This component of the program will focus on building capacity in sustainability reporting in Indonesia, the Philippines and Sri Lanka. The project will also empower Australian businesses to manage sustainability and transparency in their supply chains.

Maximizing the utility of data in decision making for change
When used properly sustainability reporting data informs decision making for businesses and their stakeholders. This component of the program will focus on enhancing the usefulness of this data to increase gender equality, transparency and good governance, while reducing corruption in Sri Lanka, Indonesia and the Philippines.

Improving sustainability and transparency in the extractives sector
The extractives sector is a key industry for economic growth the Indo-Pacific as mining produces significant social, environmental and economic impacts. Left unaddressed these impacts can pose a risk to growth, access to the formal economy, and jobs. This component of the program will focus on increasing transparency and reporting in the extractives sector.

“This new partnership with Australia is aimed at improving the lives of people living in the Indo-Pacific,” said GRI’s Director of the Knowledge Unit, Alyson Slater. “Access to global value chains is one way out of poverty for millions in Asia. Our program will help ensure that this happens in manner that is respectful of human rights and the environment.”

GRI’s work with Australia will address a number of big picture sustainability challenges, like those outlined in the United Nations Global Goals for Sustainable Development, which will be launched at the end of September. Chief Executive Michael Meehan and other top GRI staff will be at the UN Sustainable Development Summit to unveil a number of initiatives that will help create a bridge between business and government, enabling them both to make positive contributions to the goals.

For more information please contact GRI’s Media Relations Manager Davion Ford at ford@globalreporting.org