CSE and GRI to host Leadership Forum on business benefits of sustainability reporting using GRI Standards

Thursday, 8 April 2021 01:37 - - {{hitsCtrl.values.hits}}

Global Reporting Initiative (GRI) in collaboration with Colombo Stock Exchange (CSE) are hosting an exclusive session on ‘Why organisations worldwide and in Sri Lanka are adopting sustainability reporting using GRI Standards and how it benefits them’. This is an online session on 9 April starting at 10:00 a.m.

The GRI is an independent international standard-setting organisation that helps businesses and Governments worldwide understand and communicate their impact on critical sustainability issues such as climate change, human rights, governance and social well-being.

The practice of disclosing sustainability information inspires accountability, helps identify and manage risks, and enables organisations to seize new opportunities. Reporting with the GRI Standards supports companies, public and private, large and small, to protect the environment and improve society, while at the same time thriving economically by improving governance and stakeholder relations, enhancing reputations and building trust. The GRI Standards help companies disclose relevant ESG information that support decisions in the best interest of investors and society at large.

The 2020 KPMG Survey of Sustainability Reporting shows a record number of companies, spanning sectors and geographic regions, which are voluntarily choosing to disclose their sustainability impacts – with the GRI Standards the most widely used for reporting. Across all companies surveyed, the GRI Standards is the only sustainability reporting framework that can demonstrate widespread global adoption. Around three-quarters (73%) of the G250 and two-thirds (67%) of the N100 now use GRI. As per a research done by GRI – South Asia, 29% of the public listed companies (83 companies) are currently reporting using the GRI Standards in Sri Lanka.

GRI’s publication ‘Carrots & Sticks (C&S 2020)’ provides an analysis of the latest trends in reporting provisions. It reveals 614 reporting requirements and resources across over 80 countries, including Sri Lanka. In 2019, CSE published the ESG guidance document titled ‘Communicating Sustainability Version 02.’

As sustainability reporting becomes more widespread, regulators, investors as well as stock exchanges and industry bodies have started to encourage and even demand sustainability data from companies. This is free-of-charge and the registration link can be obtained by sending an email to [email protected]