The Global Reporting Initiative (GRI), one of the leading organizations promoting standardized ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. More reporting, and impact measurement and management tools network B Lab, announced the launch of a new collaboration aimed at helping organizations get more out of their reporting and assessment tools.
GRI Chief of Standards, Bastian Buck, said:
“Both GRI and B Lab share the strong belief that a deep understanding of impacts is the enabler for change. Bringing together our unique strengths can further empower companies around the world to effectively communicate how they are impacting people and planet.”
In a new publication released by the organizations, the GRI and B Lab outline how companies can coordinate their use of the GRI sustainability reporting standards and B Lab’s B Impact Assessment (BIA), enabling increased impact awareness and transparency, and a more holistic approach to how impacts are disclosed and managed.
The publication addresses interconnections and differences between GRI and the BIA, and includes a detailed, two-way mapping resource, providing practical assistance to identify correlations between BIA impact areas and indicators and GRI topics and disclosures.
Dan Osusky, Director of Standards at B Lab, said:
“Too often organizations marching towards the same goals find themselves working in silos. By creating a linkage between B Lab’s BIA and the GRI Standards, businesses are now able to actively manage their impacts as well as report on those impacts with two best in class frameworks.
“While this work is a powerful step in allowing businesses to understand and efficiently use both tools side by side, we look forward to continuing this partnership to identify further opportunities for collaboration in order to achieve our collective vision of an inclusive, equitable, and regenerative economic system.”
Buck added:
“Using the GRI Standards to inform the BIA will increase access to the quality data organizations need to improve their sustainability performance. Many businesses completing a BIA already use GRI for their reporting. This linkage resource will help streamline reporting requirements while encouraging action in support of sustainable business practices.”
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