gssbsecretariat@globalreporting.org

Item 01 – Draft summary of the GSSB
meeting held on 20 July 2023
For GSSB approval
Date

31 August 2023

Meeting

14 September 2023

Description

This document presents the summary of the GSSB virtual meeting held on 20 July2023.

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. TheGSSB is the independent standard setting body of GRI. For more information visit
www.globalreporting.org.

© GRI 2023

ContentsParticipants.............................................................................................................................................. 3
List of abbreviations ................................................................................................................................ 3Decisions and action items ..................................................................................................................... 4
Session 1: Welcome ............................................................................................................................... 4
Session 2: GRI Sector Standard Project for Financial Services – Proposed members for TCs ............ 4
Session 3: GRI Sector Standard Project for Textiles and Apparel – Proposed members for WG ......... 5
Session 4: Biodiversity – Re-exposure of disclosure 304-7 .................................................................... 6
Session 5: Climate reporting standards – exchange between GSSB and ISSB ................................... 7
Session 6: Close of public meeting ......................................................................................................... 7

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Participants
Present:
Name

Constituency

Carol Adams

Chair

Jeff Robertson

Vice-Chair

Loredana CartaLaborPeter Colley

Labor

Chulendra De SilvaMediating institution

Giulia Genuardi

Business enterprise

Vincent Kong (joined at 13.00)

Business enterprise

Corli le RouxMediating institution

Joseph Martin

Business enterprise

Anna Nefedova

Mediating institution

Deborah Ng

Investment Institution

Kim Schumacher (joined at 13.15)

Civil society organization

Gangaa Charan SharmaBusiness enterprise

Galya Tsonkova

Business enterprise

Apologies:
Name

ConstituencyJennifer Princing

Business enterprise

In attendance from GRI:
NamePosition

Bastian Buck

Chief of Standards

Harold Pauwels

Director Standards

Laura Espinach

Director Standards

Claire Dugan

Senior Manager Standards

Thamar Zijlstra

Senior Manager Standards

Margherita Barbieri

Manager Standards

Camila Teran Aramayo

Team Assistant

Gillian Balaban

Sr. Coordinator Governance Relations

List of abbreviations
Abbreviation

Full name

GRI

Global Reporting Initiative

GSSB

Global Sustainability Standards Board

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1

Decisions and action items

2

The GSSB resolved to approve the following:
GSSB Decision

Item number

2023.18

01 – Draft summary of the GSSB meeting held on 15 June 2023

2023.1902 – GRI Sector Standard Project for Financial Services – Proposed members
for Banking Technical Committee
03 – GRI Sector Standard Project for Financial Services – Proposed members
for Capital Markets Technical Committee
04 – GRI Sector Standard Project for Financial Services – Proposed members
for Insurance Technical Committee
05 – Addendum to the Textiles and Apparel Project Proposal

2023.202023.212023.222023.232023.24

06 – GRI Sector Standards Project for Textiles and Apparel – Proposedworking group07 – GRI Topic Standard Project for Biodiversity – Re-exposure draft ofDisclosure on Access and benefit-sharing

3Session 1: Welcome

4

The Global Sustainability Standards Board (GSSB) Chair Carol Adams (henceforth the Chair)

5

welcomed the GSSB. The Chair presented an overview of the meeting agenda. A quorum was not

6

established during the meeting. The GSSB finalized the approval of the above items by electronic

7vote. Item 01 was approved with a minor amendment as indicated by the GSSB.

8Session 2: GRI Sector Standard

9

Project for Financial Services –10

Proposed members for the Financial

11Services Technical Committees

12Claire Dugan, Senior Manager Standards, presented for GSSB approval the Financial Services

13

Technical Committees nominations. The following points are for consideration:

14

•

15
16

17

Financial services is a portfolio project incorporating three Sector Standards – banking,insurance, and capital markets.

•Public exposure is planned for Q4 2024.

The GSSB raised no questions or comments.

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18

The GSSB approves the following:

GSSB Decision

Item number2023.19

02 – GRI Sector Standard Project for Financial Services – Proposed members forBanking Technical Committee
03 – GRI Sector Standard Project for Financial Services – Proposed members for
Capital Markets Technical Committee
04 – GRI Sector Standard Project for Financial Services – Proposed members for
Insurance Technical Committee

2023.202023.21

22

Session 3: GRI Sector Standard
Project for Textiles and Apparel –Proposed members for Working
Group

23

Chief of Standards, Bastian Buck, advised the GSSB that the project lead is in the process of being

24

replaced which will mean a delay in the commencement of the project. All experts who agreed to join

25

the working group have been advised of this change and are happy to continue their involvement.

26Standards Team Assistant, Camila Teran Aramayo, outlined the updated schedule and provided an

27

overview of the selection process for the proposed working group membership by constituency. The

28

addendum to the project clarifies the scope of applicability and the reasons for including jewelry

29

manufacturing and retail within the project scope.

30

GSSB requested further clarification on the reasons for including jewelry. Reasons include common

31

overarching themes, shared production and value chains, and other related considerations.

32

The GSSB approves the following:

192021GSSB Decision

Item number

2023.2205 – Addendum to the Textiles and Apparel Project Proposal

2023.23

06 – GRI Sector Standards Project for Textiles and Apparel – Proposed working
group

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34

Session 4: Biodiversity – Re-exposureof disclosure 304-7

35

Thamar Zijlstra, Senior Manager Standards, explained the reasons for rewriting the disclosure based36

on the public comment period and other expert feedback and consultation. An explanation was37

provided on the issue of permits and why permits are not necessarily helpful in understanding how an38

organization behaves regarding access and benefit sharing; therefore, the disclosure does not focus

39

on this element.

40

GSSB members raised the following points for consideration:

33

41

•

42
43

GSSB members noted that it is a significant rewrite, and considering the level of expertise
involved in the original drafting, what were the thoughts/reactions of the technical committee?

•GSSB members highlighted that the original draft contained a list of data points for reporting,44

but the new draft has removed the data points and replaced them with descriptive process45

requirements. GSSB asked if any consideration was given to including a mixture of data

46

points and descriptive process requirements. GSSB agreed that it would be good to use

47

quantitative data in the reporting but that some more detailed guidance might be needed

48•GSSB pointed out that with regard to permits, different regulatory regimes exist in different

49

countries, but this should not stop GRI from asking for this information; this could be a50

shortcoming of the disclosure.

51•GSSB members suggested an extension by one week on either side of the exposure period52

to accommodate the holiday period – to be considered by the project team, depending on the53

original intended publication date.

5455

56

•

GSSB members recognize the difficulty in covering all aspects. As such, the GSSB agreed toapprove re-exposure and wait for public exposure feedback.

The GSSB approves the following:

GSSB Decision

Item number

2023.24

07 – GRI Topic Standard Project for Biodiversity – Re-exposure draft ofDisclosure on Access and benefit-sharing

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59

Session 5: Climate reporting
standards – exchange between GSSBand ISSB

60

Richard Barker from the ISSB, Caroline Clark-Maxwell from the IFRS Foundation technical team, and61

Susanne Dräger, Director Strategic Projects, presented an introduction to IFRS S2: Climate-related

62

Disclosures for input and to further collaboration with the GSSB.

63

As an overview, IFRS S2 incorporates TCFD recommendations, is used in accordance with IFRS S1,

64

requires disclosure of material information about climate-related risks and opportunities, and requires

65

industry-specific disclosures. Key disclosures cover strategy, such as financial effects and climate

66

resilience; and metrics and targets, including Scope 1-3 GHG emissions and industry-based

67

disclosures. Guidance to the IFRS S2 includes, for example, applying scenario analysis, a framework68

to measure Scope 3 emissions, and information relevant to cross-industry metric categories.

69

Laura Espinach, Director Standards, Harold Pauwels, Director Standards, and Margherita Barbieri,

70

Manager Standards, presented GRI's Scope 1-3 GHG emissions disclosures in GRI 305: Emissions

71

2016 and the outcome of an analysis comparing the scope of GRI and ISSB disclosures.

72

GSSB members asked ISSB representatives about aspects of industry guidance on climate-related73

requirements, such as guidance on which categories of Scope 3 are relevant depending on the74

sector. Other questions included how to report on progress toward meeting targets when75

organizations only report Scope 2 location-based emissions and the use of global warming potential

76

rates from the latest IPCC reports.

77

Session 6: Close of public meeting78

No other business was raised, and the Chair closed the public meeting at 14.10 Central European

79

Summer Time (CEST).

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