The GRI Standards are modular sets of disclosures that were created to help organizations clearly state their impacts on the economy, environment and society. The GRI Standards are one of the most well-known sustainability reporting standards. Around 60% of all companies who are currently reporting on their sustainability efforts reference GRI in some form. These companies include Pepsi, Apple and Intel just to name a few.
The Standards are divided into two parts. There are Universal Standards that apply to all reports and Topic-Specific Standards that organizations carefully choose from. Different levels of reporting are available depending on how much information the company is willing to disclose. There is no obligation to reach a certain level but it is required to accurately state which level the company reported to.
The Universal Standards include contextual disclosures such as company size and location. They also require more complex information like the organization’s sustainability strategy and a description of how sustainable initiatives are driven. Companies are additionally asked to determine their material topics or issues that the company has a significant impact on. The topics are determined by taking a close look at the economic, environmental and societal impacts the company has on the world as well as topics that influence their stakeholders.
Topic-Specific Standards are different for each company depending on their material topics and should only be chosen after the company determines what those topics are. There are over 30 Topic-Specific Standards categorized into 3 different groups: Economic, Environmental and Social.