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Global Reporting Initiative (GRI) standards revised to align with European regulatory requirements

In response to the increasing requirements for transparency of organizations on their economic, governance, environmental and social impacts, the Global Reporting Initiative (GRI) standards, the most widely used worldwide, were revised in early October.

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

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?