IFRS Foundation And GRI Strengthen Partnership To Harmonise Sustainability Reporting Standards
The IFRS Foundation and the Global Reporting Initiative (GRI) have reaffirmed their commitment to aligning sustainability reporting standards, aiming to create a more seamless, comprehensive and globally consistent reporting framework. In a newly released joint statement, the organisations outlined their ongoing collaboration to align disclosures between the International Sustainability Standards Board (ISSB) and GRI standards, helping companies reduce reporting complexity while improving transparency for stakeholders.
The ISSB standards focus on providing investors with financially material information related to sustainability risks and opportunities, while the GRI standards emphasise organisations’ impacts on the economy, environment and society. The collaboration seeks to identify overlapping disclosures and align them wherever possible, enabling companies to meet multiple reporting requirements more efficiently.
The partnership, which began in 2022 and was expanded in 2024, aims to reduce duplication and fragmentation in sustainability reporting. The latest statement highlights progress in aligning climate-related disclosures, including greenhouse gas emissions reporting, and emphasises future collaboration on nature-related disclosures, sector-specific standards, human capital reporting and labour-related disclosures. Despite their different mandates, the organisations noted that the two frameworks are complementary, providing stakeholders with both financially relevant sustainability information and broader impact-related insights. The renewed commitment follows a recent meeting between ISSB Chair Emmanuel Faber and GSSB Chair Susanne Stormer, underscoring the continued effort to enhance interoperability and efficiency in global sustainability reporting.
