The Global Reporting Initiative ( GRI ),  an international non-profit group that provides a framework for sustainability reporting, has released new climate change and energy standards to improve the way organizations report their sustainability performance, aiming to accelerate their accountability in terms of climate-related disclosure and action.

The new standards seek to enhance alignment with other international standards, including those established by the International Sustainability Standards Board ( ISSB ) and the European Sustainability Reporting Standards ( ESRS ).

The updated climate change standards, known as GRI 102, emphasize the importance of significantly reducing greenhouse gas ( GHG ) emissions as a key strategy for climate mitigation. Reporting expectations are based on science-based targets and global climate goals.  

Moreover, GRI 102 incorporates “just transition” metrics to reflect climate impacts on workers, local communities, and indigenous people.

The energy standards, called GRI 103, assess an organization’s energy-related impacts and activities. They require companies to disclose their decarbonization efforts, energy usage from renewable and non-renewable sources, and progress in reducing energy consumption.

“GRI 102 and 103 will enable transparency and action on climate and energy impacts that drive decision-making by companies, regulators, investors and other stakeholders,” says GRI chief executive officer Robin Hodess at the launch of the new standards during the London Climate Action Week.

“It is also significant that GRI 102 and IFRS S2 ( one of the standards set by ISSB ) are complementary, and can be used together to disclose climate-related impacts, risks and opportunities. The result is sustainability reporting that supports real-world solutions to one of our greatest challenges.”

The new GRI standards aim for interoperability with ISSB and other international standards to maintain consistency in reporting. For example, GRI 102 and ESRS S1 are aligned. The target-setting elements in GRI 102 are consistent with the latest Corporate Net Zero Standard developed by the Science-based Targets initiative ( SBTi ), as well as with the GHG Protocol.

This alignment with a range of international standards streamlines reporting for companies, facilitates decision-making, and addresses the wider needs of stakeholders.

Globally, about 14,000 organizations apply the GRI standards, with 65% specifically adopting its climate and energy-related frameworks. Introduced 25 years ago, the initial GRI climate change standards have become one of the most commonly used frameworks for voluntary reporting.