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Global Reporting Initiative. Judy HENDERSON. Chair, Global Reporting Initiative Australia. AN INTRODUCTION TO THE GLOBAL REPORTING INITIATIVE. Dr Judy Henderson Chair Global Reporting Initiative. THE GLOBAL CONTEXT.

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slide1

Global Reporting Initiative

Judy HENDERSON

  • Chair,
  • Global Reporting Initiative
  • Australia
an introduction to the global reporting initiative

AN INTRODUCTION TO THE GLOBAL REPORTING INITIATIVE

Dr Judy Henderson

Chair

Global Reporting Initiative

the global context
THE GLOBAL CONTEXT
  • Accounting failures have taken accountability from a business to a social issue: Enron, Xerox, WorldCom
  • Loss of public confidence in corporate governance
  • Global markets mean global accountability which needs global standards
  • New corporate value drivers need new measurement tools and information
reporting on the rise

0

1990

1995

2000

Year

REPORTING ON THE RISE

Sustainability

Number of Reports

Environmental

And EHS

www.globalreporting.org

4

slide5

BASIC PROBLEMS …AND OPPORTUNITY

Companies receive diverse information requests

Stakeholders receive incomplete information

A globally-accepted reporting framework developed through a multi-stakeholder process

www.globalreporting.org

5

slide6

TRANSPARENCY: not OPTIONAL… ESSENTIAL

Pressure from...

Investors

Companies

Governments

Community

Customers

Rating groups

www.globalreporting.org

gri mission
GRI MISSION

Elevate corporate sustainability reporting to be as routine as financial reporting

Developing protocols and assurance guidance

Design and continually improve reporting guidelines reflecting the three dimensions of sustainability: economic, environmental, and social

Revised 2002 Guidelines issued

Build a global and independent institution to become steward of the Guidelines

Incorporated as Foundation in Netherlands with new Board

gri a brief history
GRI: A BRIEF HISTORY
  • Conceived in 1997 by CERES in partnership with UNEP
  • Multi-stakeholder process rooted in principles of balance, transparency, independence
  • Funded by foundations through 2002, now diversifying
  • Moved from Boston to Amsterdam in Sept. 2002
  • Governed by multi-stakeholder Board, Stakeholder Council and Technical Advisory Council
slide9

GRI’S PORTFOLIO

The Guidelines

foundation document upon which all other GRI documents are based

Technical protocols

address a specific set of indicators, providing technical guidance on their measurement

The Guidelines

Energy

Water

Child

labour

Sector supplements

additional guidance for specific sectors, addressing issues pertinent to those industries

Issue supplements

issue-specific supplements to provide additional models for organising the information

Automotive

Financial

Tourism

Mining

Diversity

Productivity

HIV/AIDS

reporting elements
REPORTING ELEMENTS

COMPANY

SECTOR

social

economic

CORE

environmental

www.globalreporting.org

27 May, 2002

what is a gri report
WHAT IS A GRI REPORT?

Vision and Strategy

Description of the reporting organisation’s strategy with regard to sustainability, with text discussion and a statement from the CEO

Profile

Overview of the reporting organisation’s structure, policies and management systems, including stakeholder engagement efforts

Governance structure and management systems

Description of organisational structure, policies and management systems including stakeholder engagement efforts

GRI content index

A table supplied by the reporting organisation identifying where the information listed in the Guidelines is located within the report

Performance indicators

Measures of the impact or effect of the reporting organisation divided into economic, environmental and social

sustainability reporting principles
Transparency

Inclusiveness

Sustainability context

Completeness

Relevance

Neutrality

Comparability

Accuracy

Clarity

Timeliness

Auditability

SUSTAINABILITY REPORTING PRINCIPLES
slide13

GRI & COMPLEMENTARY INITIATIVES

Management

Systems

Standards

Codes

of

Conduct

GRI seeks to harmonise and integrate

Intangibles

Accounting

Performance

Standards

GRI

GRI as a core platform for sustainability reporting

Issue/

Sector/Nat’l

Reporting

Guidelines

International

Conventions

Assurance

Standards

www.globalreporting.org

13

slide14

WHY COMPANIES USE THE GUIDELINES

  • Benchmark and enhance efficiency
  • Internal management improvements
  • Stakeholder consultation
  • Attract employees and investors
  • Manage risk and protect reputation
exposure at wssd in johannesburg
EXPOSURE AT WSSD IN JOHANNESBURG
  • Launch of 2002 Guidelines
  • GRI reference in official documentation
  • GRI reference by heads of government and UN Secretary-General
  • GRI recognised mechanism for demonstrating adherence to Global Compact
2002 guidelines what s new
2002 GUIDELINES—WHAT’S NEW?
  • Reformulated reporting principles
  • Strengthened social and economic content
  • “Core” versus “additional indicators”
  • Clarity on flexibility
  • Guidance on assurance
balancing flexibility comparability
BALANCING FLEXIBILITY & COMPARABILITY

IN ACCORDANCE

Transparency

Structure

Incremental Reporting

INFORMAL

Coverage

www.globalreporting.org

slide18

“IN ACCORDANCE” REQUIREMENTS

  • Report on vision, profile of organisation and governance and management systems
  • Include a GRI Content Index.
  • Report on the core performance indicators. Omission of each core indicator must be explained
  • Ensure that the report is consistent with the reporting principles
  • Include a statement by the Board or CEO as follows: “This report has been prepared in accordance with the 2002 GRI Guidelines. We believe that this report is a balanced and reasonable representation of our organisation’s sustainability performance.”
verification assurance
VERIFICATION & ASSURANCE
  • Key to strengthening credibility
  • 2002 Guidelines encourage the independent assurance of reports and the development of standards and guidelines for the assurance process
challenges ahead
CHALLENGES AHEAD
  • Strengthening/explaining linkages to financial reporting and financial industry
  • Strengthening harmonisation with key complements, e.g., ISO, EC CSR, AA1000S
  • Rolling out supplements and protocols
  • Expanding engagement: SMEs, sectors, regions,
  • Harmonisation with government initiatives

www.globalreporting.org

slide21

GLOBAL REPORTING INITIATIVE

"Another important development is the growing support for the Global Reporting Initiative, which offers a coherent framework for reporting on environmental and social issues. It is a crucial complement to the Global Compact, and I am very pleased that the United Nations Environment Programme is a driving force behind both of them."Kofi Annan

UN Secretary General1 September 2002

www.globalreporting.org