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The Global Reporting Initiative - Essay Example
Author : maddisonwyman
Finance & Accounting
Pages 6 (1506 words)
Global Reporting Initiative Name of the of the of the instructor Date Global Reporting Initiative (GRI) Introduction: GRI was founded in 1997 and its mission is to provide a credible and trusted framework for sustainability reporting used by companies of different size or location…
To hold these expectations and to communicate clearly about sustainability, a global framework model and continuous metrics and language is required and Global Reporting Initiative (GRI) fulfills this. GRI relies on association of the expert from large networks in collaboration with consensus seeking consultation from groups of stakeholders. Since the foundation of GRI, these consultations with practical experience have constantly improved the framework of GRI (GRI 2011). Sustainability Reporting and GRI: A sustainability report allows the organization to reveal sustainable information in such a way that it looks similar like financial reporting. Comparable data that include metrics and agreed disclosures is given in systematic sustainability report. It is an organizational report that gives relevant information regarding economic, environmental, governance and social performance of the company. For the organizations sustainability, the capacity to resist or maintain depends on the performance of these key areas. Many companies want to make their operations sustainable and by making a sustainability reporting process, it helps them to set goals, manage change and measure performance. In a sustainability report, communication is made for positive and negative impacts for sustainability (ACCA 2005). ...