IFRS Foundation and GRI plan to align their sustainability reporting requirements
Mar 24, 2022
On March 24, 2022, the IFRS Foundation and Global Reporting Initiative (GRI) have signed a Memorandum of Understanding stating that their respective standard-setting boards, the International Sustainability Standards Board (ISSB) and the Global Sustainability Standards Board (GSSB), will seek to coordinate their work programmes and standard-setting activities.
By working together, the IFRS Foundation and GRI will cover two aspects of international sustainability reporting — investor-focused capital market standards set by ISSB and multi-stakeholder-focused sustainability reporting requirements set by the GSSB. The press release stresses the importance of compatibility:
The agreement [...] represents the latest development in efforts to consolidate or align multiple international initiatives covering sustainability reporting into a more cohesive approach for the benefit of companies, investors and society at large.
Review the press release on the IFRS Foundation's website.
