ANNOUNCEMENTS
Sustainability reporting is becoming crucial for organizations to communicate their environmental, social and governance (ESG) commitments and goals to stakeholder. It also adds up to the company’s reputation, to the risk assessment process and to attract climate-conscious customers. According to the audience, purpose and requirements different frameworks are available to develop a sustainability report. This study focuses on GRI, a widely known and adopted standard globally which is also a pioneer in sustainability guideline frameworks. GRI standards provide structure to develop a sustainability report covering economics, environment, governance and social aspects. The study aims to see the improvement of companies that are following GRI guidelines for reporting and also compare the recent updates of GRI from the previous versions. Content analysis and scoring methods are used to analyse the data from sustainability reports, annual reports, G4 GRI, GRI standard 2016 and GRI standard 2021 etc. The main finding of the study is that GRI standards are continuously improving and adopting the best international practices for sustainability reporting. The companies which are using GRI, their performance is improving on a year-on-year basis. Also, for some companies, the performance has decreased which shows that the companies have to maintain consistency in the reporting for each year and this increases the scope of the study to be explored further.
Keywords: Global Reporting Initiative (GRI), Sustainability Reporting, GRI Standards, Material Topics, Stakeholders.
