GRI and IFRS Foundation reaffirm commitment to complementary disclosures

Joint statement on achieving efficient sustainability reporting when using both GRI and ISSB Standards

To provide further clarity on how GRI and the IFRS Foundation are working together to enable a seamless, global and comprehensive sustainability-reporting system, the two organisations have today issued a statement.

Facilitating efficient reporting when using the GRI and ISSB Standards articulates how the standards set by the GRI’s Global Sustainability Standards Board (GSSB) and those set by the IFRS Foundation’s International Sustainability Standards Board (ISSB) can be used together by reporting entities and information users. It is intended for entities choosing or being mandated to apply these standards to meet the needs of investors and other stakeholders.

The document describes the common disclosures that the GSSB and ISSB have been working together to align and sets out that information provided in accordance with their standards can be complementary, while meeting distinct purposes. It also highlights areas where the two organisations are working together to support efficient reporting.

This new statement—which builds on the collaboration between the GSSB and the ISSB that began in 2022—was agreed following a meeting between ISSB Chair Emmanuel Faber and GSSB Chair Susanne Stormer last week.

Susanne Stormer said:

I see the role of standard-setters as enabling organisations anywhere to determine what to disclose, for which purpose and audience, so they can report data that is meaningful, consistent and comparable. The commitment by GRI and the IFRS Foundation to facilitate efficient sustainability disclosures can support that aim, and I look forward to expanding our collaboration with the ISSB.

Emmanuel Faber said:

It was a pleasure to have a first substantial meeting with Susanne to discuss and advance our shared commitment to facilitate more efficient reporting. Our ongoing work will deliver tangible benefits for entities that use both GRI and ISSB Standards.