Helping Sectors Increase Accountability and Transparency

The first GRI Sector Standard will focus on oil, gas and coal.

GRI is beginning a new program to help organizations within sectors to better understand, report and collaborate on their shared global sustainability challenges.

GRI is inviting nominations to join an expert working group to produce the first GRI Sector Standard, for oil, gas and coal. Sector Standards will help companies in a specific sector to define their economic, environmental and social impacts, enabling improved transparency and accountability on the sustainable development issues that matter most.

The Global Sustainability Standards Board (GSSB) – which has independent responsibility for GRI standard setting – is seeking individuals with sustainability expertise in the oil, gas and coal sector to join a working group to develop the new Sector Standard. Applications close on 4 May.

The oil, gas and coal sector project is the first of a series to develop standards for high-impact sectors, addressing issues such as climate change, biodiversity, and human rights.

GSSB Chair Judy Kuszewski said:

“Sustainability reporting by companies has not always consistently addressed a sector’s key challenges. To make reporting relevant and unlock its power to drive change, more clarity is needed on the most significant impacts within sectors.

The GRI Sector Standard for oil, gas and coal will be an important next step to support businesses in defining their material topics for sustainability reporting. This will help stakeholders speak a common language when discussing global sustainability challenges and a sector’s role in addressing these.

I encourage those with relevant expertise to come forward and apply to join the working group to help us develop the first Sector Standard.”

Notes to editors

The GSSB is conducting an open call for nominations to join the working group for the oil, gas and coal Sector Standard, by inviting individuals from business enterprises, investment institutions, mediating institutions and civil society organizations, with extensive expertise on the sustainable development issues facing the oil, gas and coal sector. View the application form to apply.

The development of Sector Standards, which will identify and describe impacts and stakeholder concerns, will be prioritized by the significance of their impacts on sustainable development.Ultimately, the aim is for the GRI Sector Program to cover up to 40 high-impact sectors.

The Sector Standards will form part of the GRI Sustainability Reporting Standards, with organizations using the Universal Standards alongside relevant Topic Standards and the applicable Sector Standard(s). The project will follow the GSSB’s Due Process Protocol, which sets out that a multi-stakeholder project working group should develop draft recommendations for the project.

Global Reporting Initiative is the independent international organization that helps businesses, governments and other organizations understand and communicate their sustainability impacts.

Tweet me: New approach from @GRI_Secretariat to help organizations in high impact sectors do more to report on & tackle their global #sustainability challenges. 1st of #GRISectorStandards to focus on oil, gas & coal http://bit.ly/2Vmhl7T

Source: Corporate Social Responsibility, Sustainability and Cause Marketing News