GRI publishes guidance documents on double materiality, due diligence and CSRD
Mar 28, 2024
On March 28, 2024, the Global Reporting Initiative (GRI) published three new documents titled 'Guides for Policy Makers'. The guides cover double materiality, due diligence and the Corporate Sustainability Reporting Directive (CSRD).
Covering double materiality, due diligence, and the Corporate Sustainability Reporting Directive (CSRD), each publication emphasizes the pertinence of the topic and the significant role played by the globally adopted GRI Standards in helping address them:
- Double materiality: The interconnectedness of a company's impacts on society and the environment with its financial performance. GRI reporting prepares companies for double materiality, given that impacts are the basis for determining associated financial risks and opportunities.
- Due diligence: How a business prevents, mitigates and accounts for its impacts. Due diligence is integrated into the GRI Standards, with reporting requirements aligned with authoritative intergovernmental instruments.
- CSRD: The benefits for policymakers in harmonizing their sustainability disclosure regulations with the EU. The GRI Standards are closely aligned with the new European Sustainability Reporting Standards (ESRS), with collaboration continuing to ensure they remain so in the future.
Access the press release on the GRI’s website.