What does this update mean in concrete terms? 

This revision aims at transparent, consistent and comparable non-financial reporting, thus putting companies in a better position to meet emerging regulatory requirements, such as the EU Corporate Sustainability Reporting Directive.

What are the major changes?

1. Revisions of the universal standards

• GRI 1: Foundation (to replace GRI 101: 2016): a review of the key concepts, requirements, and principles that all organizations must comply with in order to report in accordance with the GRI standards.
• GRI 2: General Disclosures (to replace GRI 102: 2016): updated and consolidated information on: reporting practices, activities and workers, governance, strategy, policies and practices and stakeholder engagement.
• GRI 3: Material topics (to replace GRI 103: 2016): revised information on how the organization identifies, compiles and manages each of its material topics (materiality)

2. Increased transparency on governance, human rights and due diligence disclosures

3. Publication of Oil & Gas sector standard; 40 other sectors have been identified and are under development (coal, mining, agriculture, aquaculture and fisheries)

How can Forethix support you in your transition to the GRI 2021 Standards?

• Forethix, as a GRI Certified Training Global Partner, offers you a dedicated training path to become a GRI Certified Sustainability Professional
• Contact us : contact@forethix.com