Global Corporate Reporting System and GRI Standards

This document is a technical report discussing the evolution of the global corporate reporting system and the role of GRI Standards as approved by the Global Sustainability Standards Board. It outlines the transformation in corporate reporting driven by stakeholder demands for transparency regarding impacts, risks, and opportunities, alongside increasing regulatory requirements. The report emphasizes the need for a unified reporting approach that integrates financial and sustainability information to enhance organizational performance and support sustainable development. It explains how the GRI Standards and IFRS Sustainability Disclosure Standards can be used in tandem to provide comprehensive disclosures on both financial performance and sustainability impacts. The increasing complexity of corporate reporting is addressed, highlighting collaboration among standard-setters, regulators, and reporting organizations to produce consistent and comparable information. The report also discusses the principles of double materiality, illustrating how organizational impacts can lead to financial risks and opportunities. Overall, it presents a framework for effective and clear reporting that meets diverse stakeholder information needs.