CSE and GRI host third forum on sustainability reporting standards

Friday, 20 September 2019 00:00 - - {{hitsCtrl.values.hits}}

The Colombo Stock Exchange together with the Global Reporting Initiative (GRI) held a workshop in Colombo last week to build awareness amongst listed companies on GRI Guidelines to enhance transparency and sustainability reporting.

Over 120 companies in Sri Lanka employ the GRI reporting standards at varying levels, with interest growing rapidly amongst both listed and non-listed entities. This was the third such forum held by the CSE and GRI detailing the business case for embracing sustainable practices and reporting alongside monitoring and stakeholder engagement.

The forum included presentations from corporates adopting advanced standards of reporting, sharing their experience on how they set up reporting mechanisms within organisations, and how GRI-based reporting have benefited the relevant institutions and departments. Over 25 organisations from diverse industries participated at the forum, detailing experiences, challenges and outcomes with reporting.

The presenters detailed the advantages of stakeholder mapping, and the diverse engagement opportunities presented via sustainability reporting encompassing consumers, regulators, business partners, even internal customers.

The GRI Standards are the first global standards for sustainability reporting. They feature a modular, interrelated structure, and represent the global best practice for reporting on a range of economic, environmental and social impacts.