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Sustainable development

Joint Research Highlights Benefits of Using GRI and SASB Standards Together for Sustainability Reporting

Strategic Insights

— 1 min read

A comprehensive guide released by the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB) explores the advantages of using both GRI and SASB standards together for sustainability reporting needs. The guide, "A Practical Guide to Sustainability Reporting Using GRI and SASB Standards," is based on interviews with four global companies, including Diageo, City Developments Limited, General Motors, and Suncor Energy, which are all long-term GRI reporters that now also report with SASB. The research, supplemented by survey findings with 132 business representatives worldwide, reveals that using both standards together can provide a holistic picture of corporate performance, bringing sustainability and financial information more closely together.

Key Takeaways:

  • The GRI and SASB standards complement each other, with GRI supporting broad and comprehensive disclosures on organizational impacts and SASB focusing on a subset of financially material issues.
  • Using the GRI and SASB standards together can offer a holistic picture of corporate performance, bringing sustainability and financial information more closely together.
  • Reporting with GRI and SASB can meet the needs of a broad range of stakeholders, with expanded disclosure to increase user engagement.
  • The intersection of the two standards enables companies to identify and disclose material issues and impacts.
  • Diageo notes that using both GRI and SASB "doesn't need to be difficult" and that both frameworks provide "a really good acid test" for businesses to address important issues.
  • General Motors views SASB as a subset of information already within GRI, and notes that GRI drives the discussion on material issues for stakeholders.
  • Suncor Energy sees GRI as a larger scope, more global framework, while SASB provides sector-specific information with a financial lens.
  • City Developments Limited created a blended reporting framework combining GRI, IIRC, and SASB standards to stay limber in an ever-changing business landscape and meet stakeholder expectations.

Statistics:

  • 132 business representatives were surveyed worldwide.
  • 52 of the respondents use both GRI and SASB standards.
  • Over 10,000 companies around the world use the GRI Standards.
  • The GRI Standards are developed through a multi-stakeholder process and are provided as a free public good.
  • The Sustainability Accounting Standards Board (SASB) Standards enable businesses to identify, manage, and communicate financially material sustainability information.

Sources:

  • "A Practical Guide to Sustainability Reporting Using GRI and SASB Standards" (GRI-SASB joint project).
  • Global Reporting Initiative (GRI): "About GRI".
  • Sustainability Accounting Standards Board (SASB): "About SASB".

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