With environmental and human capital metrics regulations taking center stage, here’s the lowdown on the latest in reporting standards and interoperability:
Convergence in Action
As regulations tighten, the Global Reporting Initiative (GRI) standards are aligning with the International Sustainability Standards Board (ISSB) to simplify greenhouse gas (GHG) emissions reporting. It’s all about making the data comparable and the reporting process smoother.
EU Reporting Revamp
The EU has been busy shaping the future of reporting with the Corporate Sustainability Reporting Directive (CSRD). GRI standards are now a key player, covering a big chunk of what the EU wants companies to disclose.
GRI’s Global Reach
GRI standards are not just for the EU. They’re translated into multiple languages, and they’re helping companies around the world with about 80% of the social and environmental impact disclosures the EU’s asking for.
What’s Next?
Expect GRI and other frameworks to keep evolving, with new standards that mesh with other big frameworks like the Green House Gas Protocol. Plus, they’re working closely with EFRAG to make sure companies reporting in the EU have all the tools they need. Biodiversity is coming soon.
ISSB’s Role
Pairing GRI with ISSB standards gives companies a comprehensive toolkit for meeting the EU’s double materiality needs – that’s both the financial and the impact side of the story.
Here’s the Deal
If you’re a capital owner, asset manager, or company, these changes are crucial. You’ve got to keep up with these new rules. Harmony Analytics can be your guide. We organize the data you need and help you make sense of it all.
Stay Ahead with Harmony Analytics: Need to navigate this reporting maze? Harmony Analytics is here for you. Visit Harmony Analytics to learn how our solutions can simplify your reporting and meet the demands of today’s complex regulatory environment.
