GRI publishes update to its biodiversity standard
25 Jan 2024
The Global Reporting Initiative (GRI) has published ‘GRI 101: Biodiversity 2024’ which replaces ‘GRI 304: Biodiversity 2016’. The revised standard is designed to help entities to disclose their most significant impacts on biodiversity and is effective from 1 January 2026.
According to the press release, the revised GRI biodiversity standard delivers:
- full transparency throughout the supply chain;
- location-specific reporting on impacts;
- new disclosures on the direct drivers of biodiversity loss; and
- requirements for reporting impacts on society.
It builds on the most important global biodiversity developments, such as the UN Kunming-Montreal Global Biodiversity Framework (GBF), the Science Based Target Network (SBTN) and the Taskforce on Nature-related Financial Disclosures (TNFD).
The GRI cooperated and liaised with the European Financial Reporting Advisory Group (EFRAG), which developed European Sustainability Reporting Standard (ESRS) 4 Biodiversity and ecosystems, and other key organisations in the biodiversity field to support global alignment of the revised standard.
Please click for the press release which contains more information, access to the revised standard and the option to register for free webinars discussing the role of the revised standard on 31 January and 1 February 2024.
