gssbsecretariat@globalreporting.org

Item 01 – Draft summary of the GSSB
meeting held on 28 and 29 March
2023
For GSSB approval
Date

2 May 2023

Meeting

16 May 2023

Description

This document presents the summary of the GSSB in-person meeting held on 28
and 29 March 2023.

This document has been prepared by the GRI Standards Division and is made available to observers
at meetings of the Global Sustainability Standards Board (GSSB). It does not represent an official
position of the GSSB. Board positions are set out in the GRI Sustainability Reporting Standards. The
GSSB is the independent standard setting body of GRI. For more information visit
www.globalreporting.org.

© GRI 2023

Contents
Participants.............................................................................................................................................. 3
List of abbreviations ................................................................................................................................ 4
Decisions and action items ..................................................................................................................... 5
Session 1.6: Day one welcome ............................................................................................................... 5
Session 1.7: Topic Standards update ..................................................................................................... 5
Session 1.8: Sector Standards update ................................................................................................... 7
Session 1.9: General update................................................................................................................... 9
Session 1.10: Close of public meeting .................................................................................................. 10
Session 2.1: Day two welcome ............................................................................................................. 10
Session 2.2: International Financial Reporting Standards (IFRS) ....................................................... 10
Session 2.3: Taskforce on Nature-related Financial Disclosures (TNFD) ............................................ 11
Session 2.4: External alignment and GSSB Activity Report 2020-2022 ............................................... 12
Session 2.5: European Financial Reporting Advisory Group (EFRAG) ................................................ 12
Session 2.6: GSSB Work Program 2023-2025 ..................................................................................... 13
Session 2.7: Formal thanks to departing GSSB members and end of meeting ................................... 14

Page 2 of 15

Participants
Present on 28 March 2023:
Name

Constituency

Judy Kuszewski

Chair

Robyn Leeson

Vice-Chair

Loredana Carta

LaborPeter Colley

Labor

Giulia Genuardi

Business enterprise

Evan Harvey

Investment institution

Vincent Kong

Business enterprise

Joseph Martin

Business enterprise

Anna Nefedova

Mediating institution

Jennifer Princing

Business enterprise

Gangaa Charan SharmaBusiness enterprise

Kim Schumacher

Civil society organization

Kenton Swift

Civil society organization

Michel Washer

Business enterprise

Apologies for 28 March 2023:
Name

Constituency

Corli le RouxMediating institution

Present on 29 March 2023:
Name

Constituency

Judy Kuszewski

Chair

Robyn Leeson

Vice-Chair

Loredana Carta

LaborPeter Colley

Labor

Giulia Genuardi

Business enterprise

Evan Harvey

Investment institution

Vincent Kong

Business enterprise

Corli le RouxMediating institution

Joseph Martin

Business enterprise

Anna Nefedova

Mediating institution

Gangaa Charan SharmaBusiness enterprise

Kenton Swift

Civil society organization

Michel Washer

Business enterprise

Page 3 of 15

Apologies for 29 March 2023:
Name

Constituency

Jennifer Princing

Business enterprise

Kim Schumacher

Civil society organization

New GSSB members in attendance:
Name

Constituency

Chulendra De SilvaMediating institution

Jeff Robertson

Business enterprise

Galya Tsonkova

Business enterprise

In attendance from GRI:
Name

Position

Bastian Buck

Chief of Standards

Harold Pauwels

Director Standards

Laura Espinach

Head of Technical Development

Margherita Barbieri

Manager Standards

Elodie Chêne

Manager Standards

Alexandra de Freitas

Senior Manager Standards

Claire Dugan

Senior Manager Standards

Matthew Dunn

Manager Standards

Izzy Ensor

Manager Standards

Kari Lundelin

Senior Manager Publications

Noora Puro

Manager Sector Program

Gillian Balaban

Sr. Coordinator Governance Relations

List of abbreviations
Abbreviation

Full name

GRI

Global Reporting Initiative

GSSB

Global Sustainability Standards Board

SD

Standards Division

WG

Working group

TC

Technical committee

PCP

Public comment period

AG

Advisory group

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1

Decisions and action items

2

The GSSB resolved to approve the following:
GSSB Decision

Item number

2023.07

01 – Draft summary of the GSSB meeting held on 16 February 2023

2023.08

02 – GRI Topic Standard Project for Biodiversity – Proposed member forTechnical Committee
03 – GRI Topic Standard Project for Climate Change – Proposed members forTechnical Committee
GSSB resolves to thank the departing GSSB members for all their hard workand commitment

2023.092023.103

Session 1.6: Day one welcome

4

The Global Sustainability Standards Board (GSSB) Chair Judy Kuszewski (henceforth the Chair)

5

welcomed the GSSB. The Chair presented an overview of the meeting agenda. A quorum was

6established, and the above items were presented to the GSSB for approval.

7

Session 1.7: Topic Standards update8

On behalf of the SD, Chief of Standards, Bastian Buck welcomed the new GSSB members. The

9meeting provides the opportunity to introduce new GSSB members to various ongoing projects and10

for those departing members to view the work and accomplishments of GRI/GSSB.

11

Recruitment capacity is slowly increasing; the current headcount is 27 staff with an end-of-year target

12of 50.

13

In response to a GSSB query on recruitment, the SD noted that GRI had increased its budget and14

improved its benefits package to be competitive in a tight labor market. In addition, GRI is more open

15

to remote hiring.

17

GRI Topic Standard Project for
Biodiversity

18

The SD provided a project update and presented the GSSB with Item 02 – GRI Topic Standard

19

Project for Biodiversity – Proposed member for Technical Committee for approval.

20

The SD provided an initial overview of the public comment period outcomes and proposed a new TC

21

member. To maintain continuity, perspective, and a continued representation of relevant

22

stakeholders, the new member comes from the same organization as the departing member.

16

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23

The GSSB approves the following:
GSSB Decision

Item number

2023.08

02 – GRI Topic Standard Project for Biodiversity – Proposed member for TechnicalCommittee

25

GRI Topic Standard Project for
Climate Change

26

The SD provided a project update and presented the GSSB with Item 03 – GRI Topic Standard

27

Project for Climate Change – Proposed members for Technical Committee for approval.

28

The GSSB was asked to approve the first list of nominations for the technical committee (TC) outlined

29

in Item 03.

30

GSSB members expressed concerns about approving two sets of TC members. In particular, GSSB

31

members highlighted the need to ensure geographical representation, particularly from Africa and32

Latin America, as well as representation from the scientific community and business representation

33

from high-emitting sectors. The SD clarified that the final composition of the TC will have a balanced

34

representation of constituencies and regions. However, the reason for presenting two sets of TC

35

members for approval is to enable work on revising the GHG emissions and energy consumption

36

disclosures to commence as soon as possible.

37

GSSB member, Corli le Roux, abstained from the vote. The GSSB approves the following:

24

38
39

GSSB Decision

Item number

2023.09

03 – GRI Topic Standard Project for Climate Change – Proposed members forTechnical Committee

SD further clarified the following about the project in response to GSSB questions and comments:
•

40
41

rights and biodiversity.
•

42
43

•

48

Disclosures 305-6 and 305-7 on ozone-depleting substances and air emissions will be revised
in a future project addressing pollution.

•

46
47

The topic of just transition is cross-cutting and will be considered in parallel with the climatechange and labor projects.

44
45

The project will consider interconnections with other GRI Topic Standards, such as human

Future revisions to the GHG Protocol will be considered, and a representative of the World
Resources Institute (WRI) is proposed to be a member of the TC.

•

Authoritative instruments relating to disaster preparedness, such as the Sendai framework,
will be considered.

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49

GRI Topic Standard Project for Labor

50

SD provided a project overview and update for the GSSB. The project will review and revise GRI's

51

labor-related Topic Standards using the 2021 Universal Standards and new authoritative instruments.

52

The scope is divided into two sets, with Set 1 covering Remuneration and working time, Employment,

53

and Training and education. Set 2 includes Diversity, Non-discrimination, Freedom of association,

54

Child labor, and Forced labor. The project is in the content development phase after three TC and one

55

AG meetings. GSSB is expected to approve Set 1 exposure drafts in Q1 2024. The TC includes six

56

members from ILO, IOE, and global trade unions, while the AG has representatives from businesses,

57

civil society, investors, and mediating institutions.

58

In response to a question by the GSSB, SD clarified that the AG supports the TC by functioning as a59

peer reviewer and helping to fill gaps in expertise. The TC has the final say in terms of content

60

development.

62

GRI Topic Standard Project for
Economic Impact

63

The SD presented to the GSSB the project background, market research results, and objective. The

64

project commences in June 2023, subject to GSSB approval, with completion planned for the end of

652025. The project's scope will be narrowed as economic impact cuts across social impacts. GSSB

66

input from 2017 will also be considered when developing the Standard.

67

The GSSB raised no questions.

61

68
69

Session 1.8: Sector Standards
update71

GRI Sector Standard Project for
Financial Services

72

The SD provided the project update and project objective. The development of the Standards will be

73

led by three technical committees, one per sector. The technical committee structure ensures a cross-74

sector exchange on common topics. The project scope includes the banking, insurance, and capital

70

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75

markets sectors. Technical committee nominations are to be submitted to the GSSB in May.

76

Completion of the project is planned for the end of 2025.

77

The SD clarified the following in response to a GSSB question:

78•

The initial draft included stock exchanges in the capital markets group. However, based on

79

research and stakeholder engagement, the scope excludes stock exchanges. The intention is80

to engage with stock exchanges at the TC level.

82

GRI Sector Standard Project for
Mining83

SD provided a project update and overview of the exposure draft. The project aims to identify likely

84material topics for the mining and quarrying sectors based on their significant impacts, including85

exploration, extraction, processing, and support activities. The exposure draft was approved in

86

January 2023 and is open for public comment until 30 April. The draft currently includes three new87

topics for the GRI system: Artisanal and small-scale mining, Conflict-affected and high-risk areas, and88

Tailings. During the public comment period, GRI hosted global webinars and online and in-person

89

workshops. Feedback analysis, content revision, and final reviews will occur between May and90

October 2023, with GSSB approval expected in November 2023. The Standard will launch in early

91

2024.

92

The SD further clarified two points about the project in response to GSSB questions and comments:

81

93

•

Regarding the overlap between the Sector Standards Project for Mining and the Topic

94

Standards Project for Climate, inputs from the sector project will be the starting point for

95

certain topic subgroup discussions, whereas the future revised Topic Standard disclosures for96

climate will replace the current disclosures included in the Sector Standard.

97
98

•

Regarding emissions, Scope 3 emissions will be a requirement in the Standard. Metal
processing will be a separate Sector Standard, including refining and smelting operations.

100

GRI Sector Standard Project for
Textiles and Apparel101

The SD provided a project update and a general overview for the benefit of new GSSB members. An

102

open call for the working group has been extended to ensure balance, and a proposal for WG

103

membership will be submitted to the GSSB in June 2023. The project's scope is not finalized, and99

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104

GSSB feedback on jewelry and human-made fibers is welcome. A revised proposal will be submitted

105

to the GSSB to cover these aspects.

106

In response to a GSSB query, the SD explained how GRI ensures alignment and interconnection

107

between the various projects and across the Standards as a whole – regular communication and108

updates between teams and the presence of technical experts allow for the exchange of knowledge.

109

The SD further clarified a number of points about the project in response to GSSB questions and110comments:

111•

All technical textiles (sports clothing, synthetics) are grouped under synthetic fibers.

112•

A focus of the standard is the garment industry, and the crossover between textiles, labor,

113
114

and manufacturing will be considered.
•

115
116

Waste is a key topic within textiles, with packaging contributing a significant amount. It is
important to have a holistic approach and recognize that covering everything is impossible.

•

The jewelry industry is amenable to being included in textiles. GRI has been engaging with

117

industry representatives. The overall impression is that jewelry is part of fashion and,118

therefore, included in this Standard.

119
120

•

On this subject, the SD recognizes that the supply chain of conflict minerals coming to thesmelter needs to be kept in mind.

121

Session 1.9: General update

122

GRI Standards downloads

123

The SD presented GRI Standards downloads statistics and information. There were 974,542

124

downloads in 2022, with the revised Universal Standards being the most downloaded (88,000).

125

Standards in PDF format are downloaded from the GRI website or through a search engine. Other

126

ways are through a link on a third-party website or social media posting. Download traffic on the GRI

127

website shows an upwards trend from January 2022 to the present due to a campaign to notify users

128of the January 2023 Universal Standards effective date. In January 2023, old versions of standards

129

were unpublished, and files were removed from the server.

130

The GSSB raised no questions.

131

GRI Standards translations

132

The SD presented the following milestones and upcoming translation work. In 2022, translations

133

accounted for 52% of downloads. Translations’ download share increased from January to March

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1342023 to 64%. All 10 translations of the Universal Standards have been released. GRI 12: Coal Sector

135

2022 has been published in seven languages, with others to follow in Q2. Other translation work will

136

start in Q4, including the Biodiversity Topic Standard and the Mining Sector Standard, which will be137

released in Q1 / Q2 2024.

138

Ongoing discussions lead to new projects, such as the cooperation and partnerships established for

139

translation into Korean and Turkish.

140

The SD further clarified the following in response to GSSB questions:141•

Asian subcontinent languages (or other languages per se) are not excluded for reasons such

142

as English proficiency or local dialect variations. Traditionally it is a question of where143

organizations with the most impact are located and what languages would serve them best.

144

The SD seeks cooperation models to increase reach without increasing internal capacity.

145•

Portuguese downloads increased because of the 2021 release. The launch of Traditional

146

Chinese in October resulted in an increase of downloads. Languages released earlier will147

have a larger share. However, these trends will change as other translations are published.

148

Session 1.10: Close of public meeting149

On behalf of the GSSB, the Chair extended a formal thank-you to outgoing Standards Division

150

member and Head Sector Program, Mia d’Adhemar.

151

The Chair closed the first day of the public meeting at 17.00 Central European Summer Time (CEST).

152

Session 2.1: Day two welcome

153

The Global Sustainability Standards Board (GSSB) Chair, Judy Kuszewski, welcomed the GSSB to154

the second day of the in-person meeting. The Chair presented an overview of the meeting agenda.

156

Session 2.2: International Financial
Reporting Standards (IFRS)157ISSB representatives gave a presentation on the work to develop International Financial Reporting

158

Standards (IFRS) Sustainability Disclosure Standards. They provided the GSSB with an update on

159

the ISSB’s work plan, agenda consultation, approach to global sustainability reporting, and foundation160

for collaboration with GRI/GSSB.

161

The ISSB further clarified a number of points in response to GSSB questions and comments:

155

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162

•

163
164

Human rights are an important area that requires their own standard – still an open questionof what that will look like.

•

Regarding interoperability between SASB standards and upcoming S1 and S2, ISSB is165

committed to industry-based standards as there is variation between industries. The closest

166

illustration of the direction of travel is S2 which contains industry-agnostic requirements

167

complemented with industry-specific metrics.

168•

The process is somewhat cyclical regarding the sequence between impact and financial

169

materiality; therefore, it is difficult to point to any one thing as a starting point. Impact is a170

critical starting point, but it is important for an entity to consider not only its own impacts but

171

the impacts of others; otherwise, risks and opportunities can be missed. This is an area that172

deserves further discussion between the boards.

173•

The format in which the information will be made available is important for both GRI and

174

ISSB. ISSB is also agnostic about presentation, but access to information is a priority.

175

A GSSB member noted that ISSB’s definition of materiality differs from other parts of the world. There176

is a convergence between impacts and risks and opportunities (all impacts will sooner or later have a177

financial impact), and it is not helpful to explicitly express them as being different under ISSB

178

standards.

180

Session 2.3: Taskforce on Naturerelated Financial Disclosures (TNFD)

181

TNFD representatives gave a presentation on the TNFD beta framework update v0.4 outlining the182

approach taken and the framework components such as: core concepts; disclosure

183

recommendations; data, metrics, and targets; LEAP approach; scenario guidance. Preparations are184

ongoing and include technical development work for the September publication.

185

The TNFD further clarified a number of points in response to GSSB questions and comments:

179

186

•

187
188

On metrics and reporting format, TNFD encourages reporting to be integrated into
mainstream financial reporting.

•

TNFD requires organizations to consider impacts to understand their nature-related risks and189

opportunities. Distinction between downstream and upstream makes reporting on the nature

190

side easier.

191•

On location, organizations identify priority locations of significant impacts.

192•

Environmental reporting frameworks/models have influenced the architecture and language of193

the framework.

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194

Session 2.4

195

External alignment

196

The SD provided the GSSB with an update on ongoing work to map the first set of the European

197

Sustainability Reporting Standards against the GRI Standards. Mapping helps to understand the level198

of alignment between GRI and the ESRS. This work will inform the development of the XBRL

199

taxonomy for GRI Standards, which must be consistent with the taxonomy for the ESRS.

200

The European Commission is considering changes to the draft ESRS, and public comment is starting201

in April. There are no final versions, but work has started due to the substantive content and the202

urgency to provide guidance to GRI reporters. The SD further clarified the following in response to203

GSSB questions:204•

The expected outcome of mapping serves three purposes, one for existing GRI reporters to

205

see if they can use existing reporting to comply with European standards. The second

206

purpose is to inform future development of the GRI Standards. The third purpose is to inform207

the development of the XBRL taxonomy.

208

•

209
210
211

EFRAG published a basis for conclusions for all the standards developed, which explains why
they deviated from a GRI disclosure to adapt it to comply with a specific EU regulation.

•

Projects such as climate, biodiversity, labor, and economic impacts will consider impact
disclosures in ESRS not covered by GRI.

212

GSSB Activity Report 2020-2022

213

The SD provided an overview of the draft GSSB Activity Report 2020-2022.

214

The GSSB raised no questions.

216

Session 2.5: European Financial
Reporting Advisory Group (EFRAG)

217

Representatives from EFRAG presented an update on the Corporate Sustainability Reporting218

Directive (CSRD) and the draft ESRS. The first set of ESRS, covering cross-cutting and topical219

standards, is expected to be adopted and published by June 2023, with implementation in 2024 for220

NFRD-mandated companies and 2025 for other companies. EFRAG will facilitate implementation,

221

create an ESRS e-Hub, and develop educational support. EFRAG's work plan includes

215

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222

implementation guidance, an XBRL taxonomy, an ESRS for listed SMEs, sector-specific ESRS, and223

separate standards for non-EU companies.

224

Representatives from EFRAG clarified the following points in response to questions from the GSSB:

225•

EFRAG’s job is to provide technical advice to the European Commission, but it is the226

Commission’s responsibility to implement the advice into the delegated act, which will be227available in June 2023.

228

•

229
230

Discussions about which workers are under the entity's control are ongoing, but the 25%
reduction is not expected to affect ESRS S2 on workers in the value chain.

•

Separate standards for non-EU companies to be required from 2028 address situations of231

groups headquartered outside the EU that have operations via branches or permanent232

establishments in the EU over a certain threshold.

233•

Regarding cooperation with the GSSB, EFRAG considers interoperability a key element to234

promote. They have to a large extent, taken on board lessons and progress made by GRI in

235

terms of impact materiality. Their assessment is that, in substance, an ESRS reporting entity

236

would be complying with GRI. Work can also be done to align our timetables on the237

development of future standards. On education needed for ESRS’s swift implementation,

238

EFRAG could leverage GRI’s accreditation platform.

239•

Regarding alignment efforts with ISSB, EFRAG has aligned with S1 and S2, and has

240

developed a mapping table between the two sets of standards, with most areas being241

covered. EFRAG tries to promote interoperability to avoid incompatible reporting frameworks.

243

Session 2.6: GSSB Work Program2023-2025

244

Chief of Standards, Bastian Buck, provided the public consultation feedback on the draft work

245

program. The SD will need to redraft the work program with two considerations. The first is that the246

GSSB takes on the feedback received and the direction for upcoming projects. The second

247

consideration is how resources can be scaled. The resource piece will be concluded in the May

248

meeting. Another important piece to add to the work program is communicating GSSB’s commitment249

to collaborate with different institutions to allow for interoperability and alignment.

250

Questions, comments, and recommendations received from GSSB members were as follows:

242

251

•

There is no reliable harmonizing system for sustainability qualifications. Can we develop

252

accreditation around a standard like ISO 1702, which defines personal competency as a253

framework, and use sustainability as the core to develop guidelines?

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254

•

Five organizations already include international humanitarian law and conflict-zone sensitivity.

255

GRI Standards seek to incorporate human rights considerations on a broad basis. Security

256

practices are a topic of relevance. Is the topic straightforward to review? Can we expand that257

topic to include international humanitarian law and conflict-zone sensitivity? How much258

demand is there for a standard in this area?

259•

How would international humanitarian law and conflict-zone sensitivity be incorporated more

260

broadly across all standards than in a single topic? The extractive Sector Standards have

261

shown the broader application of this topic area.

262•

Information technology-related topics such as data privacy, cybersecurity, IT and data263

governance, and responsible AI require prioritized attention. Platform companies have the264

potential to impact because of their size, number of employees, and environmental footprint.

265

There is an opportunity to influence and for GRI to become more impactful in this sector.

266

Research should be conducted on platform companies and if there is a business case to267

develop a dedicated standard.

268

•

269

Looking at the waste standard, the opportunities to develop circularity indicators are limited; itwould be good to accelerate that work.

270•

In the educational system, what are the competencies surrounding sustainability?

271•

Consider how the work program could reduce the reporting burden. Not just adding to, but272

considering its efficiency.

274

Session 2.7: Formal thanks todeparting GSSB members

275

On behalf of GSSB, the Chair extended a formal thank-you to outgoing GSSB members. The

276

outgoing members are:

273

277

•

The Chair, Judy Kuszewski

278•

The Vice-chair, Robyn Leeson

279•

Evan Harvey

280•

Kenton Swift

281•

Michel Washer

282

The GSSB approves the following:
GSSB Decision

Resolution

2023.10GSSB resolves to thank the departing GSSB members for all their hard work andcommitment

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283

On behalf of GRI staff and management, Bastian Buck extended his appreciation for the important284

work carried out by the departing members.

286

Final closing remarks and end of themeeting287

No other business was raised, and the Chair closed the final day of the in-person meeting at 15.15

288

Central European Summer Time (CEST).

285

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