Collaboration between GRI and Colombo Stock Exchange
to drive uptake of sustainability reporting in Sri Lanka
About the flyer
Designed for large companies and regulators in Sri Lanka, this flyer aims to provide details andoutline the benefits of participating in GRI and Colombo Stock Exchange Programmes that help
advance sustainability reporting and create the global common language for organisations toreport on their impacts. Now more than ever, in light of the global pandemic and its impact onbusinesses the world over, sustainability reporting can help anticipate risks and increase resiliencein the face of crisis – both present and future.

BackgroundAs part of a larger effort to closely work with stockexchanges and regulators in the region and create
a conducive environment for large companies toreport on their sustainability impacts and contributeto a more sustainable trade, in 2017 GRI South Asia
and Australian Government’s Department of Foreign
Affairs and Trade (DFAT) renewed their cooperation
with the Sustainable Trade and Investment ThroughReporting (STIR) Programme. In what followed,
an agreement with the Colombo Stock Exchange(CSE) was signed to sensitise companies andregulators to sustainability reporting with the world’s
most widely used sustainability disclosure standards– the GRI Standards.
In collaboration with GRI, CSE launched thethe report on Communicating Sustainability:
Six Recommendations for Listed Companies.
In late 2020, the UN Conference on Trade andDevelopment (UNCTAD) has awarded the CSE theInternational Standards of Accounting and Reporting
award (ISAR), in recognition of its engagement with
GRI to improve sustainability reporting capacity inthe region.

What to expect from GRI and CSE
Programmes
The GRI and CSE joint Programmes are designed
to assist the reporters on their sustainability
reporting journey through a series of workshops
and sessions that cover a wide variety of reporting
aspects, such as identifying the most relevant topics
for disclosure, engaging the stakeholders involved,
preparing the content of the report, etc. GRI andCSE Programmes include:

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Explanatory presentation and slides••

Peer-to-peer learning

Group exercises and discussions
Panel discussions
Homework and assignments for workshops
One-on-one exclusive progress calls withparticipating companies
Support and learning from external experts
 Speakers spoke passionately about how
their company initiated sustainability reporting
practices. And they gave us practical guidance on
how and where to start.”
Sakuni Adikaram, Investment Analyst,
Lanka Ventures PLC

The benefits of participating in GRI and CSE Programmes and continued
support from GRI
The GRI and CSE Programmes can provide
invaluable guidance and practical support on thedevelopment of sustainability reports using theworld’s leading sustainability disclosure standards –the GRI Standards. The benefits of participating inGRI and CSE Programmes include:•Insights and practical tips on the reporting
process shared by practitioners and experts•

Access to a whole variety of GRI resources andtools•

A solid understanding of the GRI Standards andtheir implementation•

Opportunities for hosting in-house exclusive
sessions for the senior management and/or theBoard•

Tailored support and guidance on best practices
and quality reporting – both for new andexperienced reporters•All questions and queries about the reporting
process answered

Plus, GRI will provide continued support for allparticipants, which includes:•In-house support sessions or webinars toaddress existing questions and guide reporters
through the preparation of a sustainability report•Help with uploading the report to GRI’s
Disclosure Database•

The use of GRI Services such as Materiality
Disclosure and Content Index•

A possibility to join GRI Community, which
provides a platform for learning, profilingmember companies and receiving expert
knowledge and insights through GRI online
Programme and webinars•

Access to GRI Academy - a go-to learning
platform for sustainability-related topics

Benefits of reporting with the GRI Standards
Sustainability reports based on the GRI Standards
can:•Be used to benchmark organizational
performance with respect to laws, norms, codes,
performance standards and voluntary initiatives
both nationally and internationally.

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Provide a competitive edge•

Offer client benefits when assessing acompany’s ESG performance•

Demonstrate organizational commitment tosustainable development•

Compare organizational performance over time•

Improve risk management and investor relations•

Engage with stakeholders and improvestakeholder relations•

Motivate and engage employees

 I have learnt a lot about sustainability reporting
and the GRI Standards. Even though sustainability
reporting is not compulsory, we can now start
to implement it in our organization and provide
transparent information to our stakeholders.”
Chameera Asintha Sandanayake,Group Finance Manager, Citrus Leisure PLC

More information about CSE can be found at:www.cse.lk/

Supported by theAustralian Government

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