Evolution of Global Corporate Reporting System

This technical report discusses the evolution of the global corporate reporting system, particularly focusing on the role of GRI Standards in enhancing transparency and accountability in organizational reporting. It outlines how GRI Standards align with IFRS Sustainability Disclosure Standards to provide a comprehensive view of financial and sustainability-related impacts. The report emphasizes the need for a unified reporting approach that meets the growing demands for transparency from stakeholders, including investors and civil society. It details the complexities involved in integrating financial disclosures with sustainability information and the importance of addressing both impacts and risks. The document also highlights the collaborative efforts between the Global Sustainability Standards Board (GSSB) and the International Sustainability Standards Board (ISSB) in navigating the evolving reporting landscape. Key updates from previous versions of the paper are noted, including clarifications on the double materiality concept and the significance of GRI disclosures in informing financial reporting. Overall, the report aims to support organizations in delivering high-quality, integrated information that fosters sustainable development.