Guidance Development for Identifying Risks and Opportunities

This document is an exploratory paper prepared by the GRI Standards Division for discussion by the Global Sustainability Standards Board (GSSB). It seeks input on the necessity of developing guidance for reporters on identifying risks and opportunities arising from organizational impacts. The GSSB has recognized that the impacts of organizations can translate into risks and opportunities, and understanding these impacts is essential for effective reporting. The paper outlines the demand for practical guidance based on the GRI 3 materiality process, which is intended to help reporters identify related risks and opportunities from a financial materiality perspective. Additionally, it discusses the GSSB's commitment to collaborate with global standard-setting bodies and the potential for joint guidance with the International Sustainability Standards Board (ISSB). The document also proposes that the guidance could be developed as either authoritative or non-authoritative, with a recommendation for the latter to allow for testing before integration into the GRI Standards.