The World Reporting Initiative (GRI), one of many main sustainability reporting commonplace setters, has printed a revised model of its biodiversity commonplace : “GRI 101.” It can assist firms reporting by way of GRI perceive and disclose their biodiversity impacts.
With the brand new commonplace, GRI has responded to the rising company curiosity in nature conservation, which has quickly superior following the adoption of the World Biodiversity Framework (GBF) in 2022.
GRI made “fairly important modifications and revisions” to its prior biodiversity commonplace GRI 304, stated Elodie Chêne, senior requirements supervisor on the group. The brand new commonplace presents worldwide greatest practices for halting and reversing biodiversity loss. For instance, it asks firms to report on the direct drivers of biodiversity loss, reminiscent of air and water air pollution and the unfold of invasive species.
A extra stringent method
The brand new necessities will have an effect on firms throughout a spread of sectors, together with meals and agriculture, mining and oil and different industries with massive land and water footprints.
GRI’s requirements outline eight classes that firms with important biodiversity footprints should report on, together with biodiversity insurance policies, commitments and influence administration approaches. Different nature frameworks let firms choose the problems they wish to disclose.
For instance, the Taskforce on Nature-related Monetary Disclosures (TNFD) developed a set of 14 disclosure classes, reminiscent of the full space of land disturbed, that firms are beneficial however not required to report on. GRI’s extra stringent method may carry elevated transparency and accountability to the biodiversity area — if firms determine to report in accordance with it.
Controversial matters: provide chains and offsets
GRI 101 incorporates new greatest practices for measuring and managing biodiversity loss and requires firms to report straight on their main drivers. It additionally asks for location-specific impacts and the way they have an effect on communities.
In keeping with Chêne, three matters stood out as essentially the most controversial points within the public session course of throughout which companies, civil society and technical specialists submitted 122 feedback on the usual’s draft:
- Provide chain disclosures: Essentially the most important biodiversity impacts are inclined to happen in firms’ provide chains, however getting knowledge from suppliers past the primary tier is difficult and site-specific data will be commercially delicate. GRI 101 permits firms to report provide chain impacts at a rustic stage whereas encouraging the disclosure of extra granular location knowledge.
- Biodiversity offsets: GRI asks firms to report on their offsetting practices to foster a greater understanding of how completely different industries are utilizing them and what greatest practices could also be. Corporations want to supply data on their offsets’ targets, geographic location, rules and third-party certifications or verifications.
- Prioritizing key impacts: Reporting on all biodiversity impacts is almost unimaginable. GRI 101 focuses on essentially the most important ones and suggests the best way to prioritize. However this doesn’t imply firms can select to not report on some materials matters altogether, as is the case with different frameworks.
GRI within the broader nature framework panorama
For the previous few years, commonplace setters and governments have labored to duplicate the reporting infrastructure developed for the local weather disaster to the biodiversity disaster. This work goals to progress quickly to fulfill the GBF’s formidable 2030 targets, reminiscent of restoring 30 % of the world’s degraded land. The velocity at which new frameworks, insurance policies and instruments are growing has overwhelmed firms.
GRI didn’t attempt to compete with or duplicate the efforts of different outstanding frameworks, reminiscent of TNFD or the Science Based mostly Targets Community (SBTN). As an alternative, GRI collaborated carefully with their groups and tapped into a number of the identical technical specialists to make sure that the frameworks have been aligned and bolstered their distinct roles and targets: “If you should set targets, go for SBTN. If you should measure your influence, go to TNFD. And if you wish to disclose, go to GRI,” Chêne stated.
To supply additional readability, the UN Setting Programme has printed an evaluation that compares the scope, materiality definition and provide chain protection of essentially the most outstanding nature-related evaluation and disclosure frameworks and requirements.
GRI 101 will formally go into impact Jan. 1, 2026. The transition interval will permit firms to rise up to hurry with the brand new commonplace, however they’ll undertake it earlier if prepared.
