GRI Releases Corporate Reporting Guidelines at Summit

Amidst increasing worldwide calls for improved corporate accountability, the Global Reporting Initiative (GRI) released its 2002 Sustainability Reporting Guidelines at the World Summit in Johannesburg. The guidelines provide a standardized, consistent and thus comparable framework for companies to measure and report on their environmental and social performance. They are designed to complement financial reporting standards. This is the third version of the Guidelines – the result of two years of testing and revision by hundreds of stakeholders from around the world. Representatives from business, social and environmental advocacy groups, accountancy associations, labor, government, the investment community, and others participated in working groups and pilot tests to identify indicators and related content to include in the Guidelines. The 2000 version represents significant development of social and economic indicators, and a cross-referenced table to help readers compare reports more readily. The concept of reporting in accordance with the Guidelines is also new. This requires higher levels of transparency, coverage, and structure than informal reporting. Companies can use a range of reporting options that allow them gradually enhance the quality of their reports. Reports now require a signature from the board or chief executive attesting to a “balanced and reasonable” report. About 200 […]

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