Evolution of Global Corporate Reporting System and GRI Standards

This document is a technical report prepared by the GRI Standards Division for observers at meetings of the Global Sustainability Standards Board (GSSB). It discusses the evolution of the global corporate reporting system and highlights GRI Standards' role in helping organizations communicate financial effects and sustainability-related impacts. The report outlines the growing demand for transparency in corporate reporting, emphasizing the need for organizations to provide a comprehensive view of performance, integrating financial and sustainability information. It also documents the collaboration between GSSB and the International Sustainability Standards Board (ISSB) in developing complementary reporting frameworks. The report details how GRI Standards align with IFRS S Standards to enhance stakeholder decision-making. It further clarifies the implications of corporate reporting practices and how they adapt to regulatory requirements and stakeholder expectations. The document incorporates revisions based on feedback from GSSB meetings, aiming to improve clarity and readability.