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The GRI’s multi-stakeholder consensus-seeking approach has proven the most valuable way to produce reporting guidance that is universally applicable and appropriately responds to stakeholders’ needs.
It makes sense that GRI products are developed in this way that reflects the growing experience of reporters, the systematic use by those who access reported information, and expansion in market demand.
The G3 Guidelines development, review and release exemplifies this development process in action.
Development process overview
1. Identify priorities
· GRI researches the experiences of reporters to date using the existing Guidelines and gathers practitioners’ feedback through various mechanisms including, practitioner networks, regional workshops and the multi-stakeholder governance bodies.
· As part of the process of continuous improvement of the Guidelines, the Board of Directors considers this feedback and determines the priorities for improvement. Action on these priorities is then built into the work plans of GRI.
2. Create a Working Group
· GRI convenes small working groups of about 20 experts – drawn from all corners of the globe, and representing different stakeholder groups, including business, civil society, labor, investors, accountants, and others as relevant – who volunteer their expertise to develop the particular document.
· These practitioners draft new guidance through an open platform and after a period of consensus-seeking often lasting one year or more they agree on the document.
3. Undergo Public Consultation
· The output of the Working Group is then released into the public domain for 90 days, and all interested parties are invited to submit their comments and suggestions on the document.
· This public consultation period gives the GRI network a voice to engage in the development process. This practice also reinforces GRI’s commitment to transparency.
4. Submit for Governance Review
· After the public consultation period which has given the network their voice on the document, the feedback is incorporated and the document is finalised.
· This document is then submitted to GRI’s Technical Advisory Committee who reviews it before passing it to GRI’s Stakeholder Council for their review. If the document is deemed as high technical quality, accurate, and developed according to an inclusive multi-stakeholder consensus-seeking process, it is approved.
· The Technical Advisory Committee presents the approved document to the Board of Directors for their approval.
It should be noted that even an approved version of Guidance continues to follow the cycle of review and improvement that is required of all elements of the Reporting Framework.
GRI seeks to balance continuous improvement and innovation with stability and reliability.
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