The Global Reporting Initiative announced today the release of the “G3” Guidelines for Sustainability Reporting, along with a full set of Indicator Protocols.
The G3 Guidelines are the result of nearly two year’s worth of research, development, and consensus-seeking by multi-stakeholder technical working groups, each assigned to focus on different parts of the Guidelines. Importantly, the public was invited to participate by submitting their comments on a draft version, posted last January. The results of this extensive, global, and inclusive process are the third generation of GRI’s Guidelines (G3) – building on past releases in 2000 and 2002.
Those familiar with the GRI reporting framework will notice some key changes and highlights in the new G3 version. These changes are chiefly aimed at increasing the user-friendliness of the Guidelines, and increasing the comparability of reports. Highlights include:
· Guidance on how to determine what issues to report on and how to select material indicators via the Reporting Principles
· Each Reporting Principle is accompanied by a set of self-tests to help with their application
· Guidance on setting the report boundary
· New disclosure items on strategy and analysis that highlight key issues, risks, and opportunities
· Indicator section has been restructured and now contains two main elements - “Disclosures on Management Approach” and “Performance Indicators”
· Each performance indicator is accompanied by an Indicator Protocol, which contains definitions for words used in the indicator, compilation methodologies, and other useful resources.
The release of the G3 is being celebrated today by thousands gathered at an international conference in Amsterdam, The Netherlands – where GRI’s Secretariat is situated. Leaders from Brazil to Bahrain, New Zealand to Namibia are gathered to discuss some of the world’s most pressing sustainability challenges, and how greater attention to reporting and transparency can help to reveal solutions and opportunities.