IFRS Foundation and GRI plan to align their sustainability reporting requirements

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  • GRI (Global Reporting Initiative) Image

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.

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