GSSB in-person
meeting

9-10 April 2024

Session 2.1
Welcome – Day two
Carol Adams

Agenda – Day two 10 April 2024
Start End Duration Session(minutes)
09:00- 09:05

5

2.1

09:05

- 09:50

45

2.2

09:50

- 10:35

45

2.3

10:35
10:50

- 10:50- 11:50

15
60

Agenda item

Introduced by Public/
privateWelcome to meeting• Approval of Item 01 – Draft summary of the
GSSB meeting held on 14 March 2024
Standards update• Update on GRI Standards downloads andadoption• Translations• Update on launch of GRI 101: Biodiversity
2024 and GRI 14: Mining Sector 2024
Update on XBRL taxonomy

Carol Adams

PublicMiguel Pérez
Ludeña/ Kari
Lundelin / Noora
Puro / Elodie
Chene

PublicPiers Horner /Laura Espinach

PublicBastian Buck /Jessica Hardy

PublicBreak
2.4

Governance Update• GSSB ToR• Due Process Protocol• DPOC ToR• GSSB self-assessment

3

Agenda – Day two 10 April 2024 cont’dStart End Duration Session(minutes)
11:50- 12:50

60

2.5

12:50

- 14:00

70

14:00- 15:30

90

2.6

15:30

- 15:4515

2.7

Agenda item

Introduced by Public/
privateDiscussion of limited scope amendments to
GRI 1: Foundations 2021

Bastian Buck /Laura Espinach

PublicLunch
Individual photos of all members will be taken on the 6th floor
Bastian Buck /Review proposed project schedule 2024
PublicHarold Pauwels /Laura Espinach /Claire Dugan /Izzy Ensor
Any other business and close of meeting
Carol Adams
Public4

Scheduled approval
Item 01 – Draft summary of the GSSB meeting held on 14 March 2024

Does the GSSB approve:
Item 01 – Draft summary of the GSSB meeting held on
14 March 2024

GSSB Decision 2024.07 GSSB resolves to approve Item 01 – Draft
summary of the GSSB meeting held on 14 March 2024
5

Session 2.2
Standards update
Miguel Pérez Ludeña / Kari
Lundelin / Noora Puro / ElodieChêneStandards update
Downloads of GRI Standards in 2023
Total 846,165 downloads, down by 13%​ from 2022
99,160 registered users, up by 12 % from 2022 (92% new leads)​
Five-year trend by HTTP referer 2019-2023 (blue = GRI website; purple = search engines)

7

GRI Adoption Data
The research team monitors large public companies• 14,940 companies with revenues over $250 million• 5,222 other companies in key countries, including all public companies in the EU
Each company has information on revenue, employees, market capitalization, country, sector, etc.
Each company has been reviewed to determine if they use GRI for their reporting.

Results can be used as follows:• Research for standards
development• Public communications• Monitoring performance

8

GRI Adoption Data
Key Results
GRI adoption by total revenue

36% of companies with revenues
higher than $250m use GRI• 73% of the top 1,000 companies
use GRI• Less than 11% of the bottom 5,000
do

70%

GRI adoption rate

But the adoption rate is correlated tocompany size

80%

60%
50%
40%
30%
20%
10%
0%

Revenues > Revenues >
13bn
1.7bn

Revenues>535m

Revenues>240m

Revenues<240m

Revenue lower bound of each company subset [USD]

9

GRI Adoption Data

Adoption rate varies by country and sector
Selected Sectors# companies in Adoption
datasetrate

GRI Adoption Rate in
Selected Countries# companies indatasetAdoption
rate

Multi-Utilities

50

64%

Austria

67

86%

Wireless Telecom Services

70

60%

Singapore

215

81%

Tobacco32

56%

Norway83

80%

Passenger Airlines

79

52%

Italy

419

77%

Automobiles

108

50%

Finland

181

76%

Banks

757

46%

Switzerland

151

69%

Oil & Gas

523

45%

Philippines

106

68%

Spain

243

67%

…
Capital Markets

584

21%

…

Media

325

21%

Japan

1,812

28%

Software461

20%

France630

28%Div. Consumer Services

104

17%

Denmark

172

27%

Health Care Tech

49

14%

Pakistan

253

26%Entertainment

250

12%

BiotechNology

253

12%

Russia
China

167
3,259

23%
14% 10Translations
GRI 101 andGRI 14

11

GRI 14: Mining Sector 2024
Launch and roll-out update
Noora Puro

GRI 14: Mining Sector 2024
Launch and roll-out

Launch of
GRI 14:MiningSector 2024

Roll-out inregions❖ Launch event inCape Town❖ Two global
webinars❖ Comms
campaign❖ PDAC
conference
attendance❖ Translations
available in May❖ Arabic, Chinese,
French, German,
Indonesian,
Italian,Japanese,
Portuguese,
SpanishEducationand capacity
building❖ Academycourse for GRI
14 and GRI 12❖ Supporting
materials forreporters❖ Pilot program(TBC)

Effectivedate❖ Mandatory
for sector
reporting asof 1 January
2026

13

GRI 14: Mining Sector 2024
Launch event in South Africa – 8 February 2024
Keynote speeches

Panellists

Audience

OECD

GRI
Supervisory
Board

•
•
•

UN Environment
Programme••

Southern Africa Resource Watch
Anglo American Platinum
Intergovernmental Forum on
Mining, Minerals, Metals andSustainable Development (IGF)
Global Battery Alliance
Church of England Pensions
Board

•
•
•

50 people attended in person(invitation-only)
Multi-stakeholder audience frominvestors to lawyers, community
organizations to industry bodies
Media from a prominent South
African news outlet (Daily
Maverick)
14

GRI 14: Mining Sector 2024
Global webinars
Keynotes by:

Key figures:

Carol Adams, GSSB
Chair

❖ 1,628 registrations, 607 attendees (37%)

Webinar 1
28 Feb 2024

❖ Audience rating event experience 4,32 / 5
K. C. Michaels,
International Energy
Agency (IEA)❖ 74 countries represented

Africa & ME 12%

Oceania 4%

Keynotes by:Europe 35%

Webinar 2

Jeff Robertson,
GSSB Vice-chair

North
America
13%

29 Feb 2024

Adam Matthews,
Church of England
Pensions Board

Latin America 14%

Asia 22%

15

GRI 14: Mining Sector 2024
Media highlights and reception
Key figures:• 28 media articles, covering 13
countries• ~190,000 people reached via launchemail campaigns• 8 social media posts with 64,000
impressions and > 1,600 clicks
Resulting in:> 3,000
individual downloads of GRI 14> 27,000
consolidated downloads with GRI 14
16

GRI 14: Mining Sector 2024
Upcoming roll-out activities

Events•Partner session
confirmed for theOECD Forum on
Responsible Mineral
Supply Chains(together withpartners)

Alignment & collaboration

Education & support

•

•

•
•

Continued engagementwith key sector
organizations
Mappings to responsible
mining standards
Support for EFRAG
development of ESRS
for Mining, Quarrying
and Coal••

Academy course
and reporting
resources forStandard users
Translations
Pilot program (TBC)

17

GRI 101: Biodiversity 2024
Launch and roll-out update
Elodie ChêneGRI 101: Biodiversity 2024
Launch❖ DPOC approval on 15 January 2024

❖ Publication and press release on 25
January❖ Launch events with two global
webinars on 31 January and 1 February❖ Comms campaign❖ In-person event in Cape Town

19

GRI 101: Biodiversity 2024
Global webinars

Webinar 1
31 Jan 2024

Keynotes by

Key figures

Carol Adams, GSSB Chair❖ 7,299 registrations

Emily McKenzie, Technical Director, TNFD

❖ 3,124 attendees (43 %)Marco Lambertini, Convenor Nature Positive
Initiative❖ Audience rating event experience 4,37 / 5❖ 139 countries

North America
14%

Oceania Africa & ME
4%
6%

Keynotes by

Asia
22%

Jeff Robertson, GSSB Vice-chair
Webinar 2
Martin Harper, CEO, Birdlife

Latin America
12%

1 Feb 2024
Adam Kanzer, Head of Stewardship,
Americas, BNP Paribas Asset Management
Europe42%

20

GRI 101: Biodiversity 2024
Media coverage❖ 48 media articles covering over 15
countries in all regions❖ ~200,000 people reached via
launch email campaigns❖ 5 social media posts with
>137,000 impressions and> 4,400 clicks❖ > 6,800 individual downloadsof GRI 101❖ > 27,000 consolidated downloads
with GRI 101
21

GRI 101: Biodiversity 2024
Education and capacity building

GRI Academy course ‘Charting a
Greener Path’ launched on 29
February 2024

22

GRI 101: Biodiversity 2024
Upcoming activities

Education & capacity
building

Partnerships &collaboration❖ Translations (April 2024)❖ Continued engagementwith key partners❖ Climate Week (Sept2024)❖ GRI representation in key
Nature+ initiatives❖ Biodiversity COP 16 in
Colombia (Oct-Nov 2024)❖ Mappings with ESRS andTNFD (Q2 2024)❖ Pilot program (Q2-Q3
2024)

Key events❖ Regional launches &events23

Session 2.3
Update on XBRL taxonomy
Piers Horner / Laura EspinachRecap: the GRI taxonomy• Digital sustainability reporting in its infancy and its foundations are being established now• GRI is developing an XBRL taxonomy that will allow reporters to file digital reports based on GRI
in addition to regular ’human-readable’ (pdf or other format) reports• XBRL is a coding language that enables digital reporting in a form that can be analysed by othercomputer programs (‘machine-readable’)• Project will deliver a filing solution and provide in-house technical ability to maintainthe taxonomy and report repository for filed GRI reports• The GRI taxonomy can also be used to provide high level validation of GRI reporting
requirements, which should help drive quality
25

Vision
The GRI taxonomy aims to consolidate GRI’s position as the global common language forsustainability reporting, facilitate reporting against different regulations and enable access to
impact-related sustainability data

• Digital Reporting: The taxonomy will allow
organisations to report and file digital reports using
GRI

DigitalReporting
Sustainability
DataInteroperability• Sustainability Data: A repository of digital filings
provide a source for consistent sustainability data

• Interoperability: Alignment between GRI and othertaxonomies will allow preparers to automatically fulfil
most, or all, of their impact requirements

26

Status of development

Draft data point list now finalized• Full review carried out with Standards team in February
Full set of business rules to be completed in April• These will provide the basis for providing high level validation of in accordance andwith reference claims
Milestones coming up• Public consultation in June
• First release of the GRI taxonomy expected in September

27

Phases of work

Phase I

Phase II

Phase III(2024)(2025)(2026 onwards)• Release a first version of the
GRI taxonomy• Accounting for updates to
the Standards in 2025

• The first version will reportprimarily against therequirements of reportingwith GRI but has been
designed withinteroperability in mind

• Finalise interoperability
elements• GRI taxonomy a BAU
workstream, incl. updates& new sector standards• Enhance reporting using the
GRI Sector Standards• GRI services and support
linked to taxonomy

28

Public consultation• User-engagement surveys taking place in April and May 2024

• Sixty-day formal public consultation periodo Expected to begin in June 2024

• Targeting both specialist and non-specialist audience• Survey questions will explore the following topics:o Whether the taxonomy adequately represents the content of the GRI Standards
o Whether the design of the taxonomy meets the needs of reporterso Whether the taxonomy's validation rules are appropriate for capturing the requirements forreporting in accordance and with reference to the GRI Standards (including reporting using
the Sector Standards)
o Whether the handling of omissions and material topics adequately represents therequirements of the GRI Standards
o Any other comments

29Implications for the GRI Standards

Due process• Development of GRI Standards taxonomy is currently not
subject to the GSSB’s Due Process Protocol• To be decided whether due process should be followed in
the future and, if so, which changes are needed to the Due
Process Protocol

Requirements to publish GRI content index and notify GRI• The taxonomy could have implications for the requirements
to publish a GRI content index and to notify GRI of the use of
the Standards, and for the provision to report information
across more than one location

For discussion
during session 2.4
Governance
UpdateFor discussion
during session 2.5
GRI 1
amendments30Implications for the GRI Standards

Interpretation• Taxonomy should not conflict with or interpret the GRI Standards• Where text of the GRI Standards is unclear and there could be different options to
codify the information or where there is risk of interpretation:o A sample of GRI reporters will be examined to see how the requirements are
typically reported in practice, in order to support decision-makingo Standards Division recommends priority be given to the option that enables betterinteroperability with other standards
o GSSB will be consulted for advice
o GSSB may decide to start a Standards Interpretation project where taxonomy
codification requires interpretation31

Issue 1

Requirement 2-1-b
report its nature of ownership
Guidance to 2-1-b

The nature of ownership […] of the organization refers to whether it is publicly or privately
owned […].
The taxonomy includes an enumeration list (instead of an open text field):• Publicly owned• Privately owned

An enumeration list leads to more comparable information than an open text field32

Issue 2

Requirement 406-1-b
Status of the incidents [of discrimination] and actions taken with reference to the following:i.

Incident reviewed by the organization;ii.

Remediation plans being implemented;

iii.

Remediation plans that have been implemented, with results reviewed throughroutine internal management review processes;

iv.

Incident no longer subject to action.

The taxonomy includes a single data point instead of four separate data points (for i to iv)

33

Break15 minutes

Session 2.4
Governance update
Bastian Buck / Jessica Hardy

Session 2.5
Discussion of limited scope
amendments to GRI 1:
Foundations 2021
Bastian Buck / Laura Espinach

Session
objectives

Present potential narrow-scope amendments to GRI 1 and GRI 3
resulting from:• reporting landscape developments• regulatory developments• digital reporting
Gather GSSB views on the need and timing to start a standardsetting project as per due process.

37

Reporting landscape developments and the role of the GRI
Standards
Context• GRI 1, Box 1, explains the link between
sustainability reporting and financial andvalue creation reporting• Reporting landscape has significantly
evolved since 2021 (e.g., ISSB and EU
standards, and more national
requirements on the rise), making thiscontent outdated• Revised text for Box 1 has been discussed
by GSSB in 2023 and further updated withGSSB feedback to clarify the meaning of‘risks and opportunities’

Possible amendments to GRI 1 and GRI 3
GRI 1: Foundation 2021
• Section 1.1 ‘Purpose of the GRI Standards’• Section 1.2 ‘Users’• Section 2, Box 1 ‘Sustainability reportingand financial and value creation reporting’• Section 5.1 ‘Aligning sustainability
reporting with other reporting’GRI 3: Material Topics 2021
• Section 1, Box 1 ‘Input to financial andvalue creation reporting’38Regulatory developments

Context

Possible amendments to GRI 1• GRI Standards increasingly used as
reference by regulators when developing(national) reporting requirements (e.g.,
EU, India)

Section 3, ‘Reporting with reference to the
GRI Standards’:• Many reporters will report GRI-aligned
disclosures as a result and will be able toreport with reference to the GRI Standards• Expected interest from jurisdictions infacilitating reporting with reference to the
GRI Standards through mechanisms suchas joint interoperability indices or
automatic compliance• Include additional use case whereby
organizations report GRI-aligned
disclosures through applying (national)
mandatory reporting requirements• Assess how the three requirements forreporting with reference to the GRI
Standards could be eased for reportersthat fall under (national) mandatory
reporting requirements• Assess how GRI Standards taxonomy
could more easily enable the GRI content
index and notification process39Digital reporting

Context

Possible amendments to GRI 1• GRI Standards XBRL Taxonomy expected
to be released in 2024

• Section 1.4 on ‘Reporting format’,including the provision to report
information across more than one location• Filing of sustainability information throughdigital taxonomies is becoming mandatory
by certain national jurisdictions (e.g., inEU)• Additional reporting standard-setters aredeveloping taxonomies• Section 3, assess how GRI Standards
taxonomy could more easily enable the
GRI content index and notification process(for both ‘in accordance with’ and ‘withreference to’)40

Lunch60 minutes
Tables will be reserved for GRI
Individual pictures will be taken of all
members on the 6th floor

Session 2.6
Review proposed projectschedule 2024
Bastian Buck / Harold Pauwels /Laura Espinach / Claire DuganGSSB Work Program 2023-2025
Schedule for 2024

GSSB priority areas 2023-2025
Schedule 2024

• Development of GRI Standardso Development of new Topic Standardso Revision of Topic Standardso Development of new Sector Standardso Revision of Sector Standards• Implementation of GRI Standardso Translationso Standard Interpretations, FAQs and guidance materialo Digital taxonomy• Cooperation with other standard-setting bodies andinternational organizations

44

Revision program GRI Topic Standards

Labor andClimatechangeNature2024•

101 Biodiversity

2025
•
•
•
•
•
•
•
•
•
•
•
•
•
•

Climate change
EnergyEmployment
Renumeration & Working Time
Significant Changes for workers
Standard interpretation document on
Control of work
Diversity and Equal Opportunity
Training and Education
Working Parents and Caregivers
Non-discrimination
Freedom of Association and Collective
Bargaining
Child Labor
Forced or Compulsory Labor
Supplier Social Assessment

Economic
impacts and
Pollution

2026
•
•
•
•
•
•
•
•
•
•

Economic Performance•
Anti-corruption
Anti-competitive Behavior •Public Policy
Indirect Economic Impacts •Procurement Practices
Market Presence•
Pollution•
Materials•
Waste & Circularity••

Stakeholder
engagement

2027
Rights ofIndigenous peoples
Local Communities
Security Practices
Customer Health and
SafetyMarketing and Labelling
Customer Privacy
Water
Tax
OHS

Topic Standards under development
Topic

Standards

Upcoming GSSB milestone

Biodiversity

Biodiversity (GRI 101)

Released Q1 2024

Labor
Phase 1

Employment
Remuneration and Working Time
Significant Changes for Workers
Standard Interpretation on Control of WorkGSSB meeting May 2024 –Approval for public exposure

Labor
Phase 2

Diversity and Equal Opportunity
Training and Education
Working Parents and Caregivers

GSSB meeting Q3 2024 –Approval for public exposure

Labor
Phase 3Non-discrimination
Freedom of Association and Collective Bargaining
Child Labor
Forced or Compulsory Labor
Supplier Social Assessment

Content development Q3-Q4 2024

Climate Change

Climate Change
EnergyPublic exposure ended February
2024
GSSB approval Q1 2025

46

Topic Standards under development
Topic

Standards

Upcoming GSSB milestone

Economic Impacts
Phases 1 and 2

Economic Performance
Anti-corruption
Anti-competitive Behavior
Public Policy

Content development Q1-Q4 2024

Economic Impacts
Phase 3

Indirect Economic Impacts
Procurement Practices
Market PresenceContent development Q3-Q4 2024

Emissions (Disclosures 305-6 and 305-7)
Effluents and Waste (Disclosure 306-3)

GSSB meeting Q3 2024 Approval WG experts

Pollution

47

Topic Standards projects scheduled for 2025 and beyond
TopicStandards

Indigenous Peoples and Local Communities

Rights of Indigenous Peoples
Local Communities

Security Practices

Security Practices

Customer Impacts

Customer Health and Safety
Marketing and Labelling
Customer Privacy

Circularity and Material Resources

Materials
Waste

Procurement Practices

Supplier Environmental Assessment
Supplier Social Assessment

48

Topic Standard Project for Labor
Current labor related topic standards

49

Topic Standard Project for Labor
Division of labor topics

Set 1
•
•
•
•

Employment Topic Standard
Remuneration and Working time Topic Standard
Significant Changes for Workers Topic Standard
Control of work standard interpretation

Set 2
•
•
•

Working life and Career development

Training and Education Topic Standard
Working Parents and Caregivers Topic Standard
Diversity and Equal Opportunity Topic Standard

Set 3
•
•
•
•
•

Employment Practices and Conditions

Workers Rights and Protection

Child labor Topic Standard
Forced or compulsory labor Topic Standard
Non-discrimination Topic Standard
Freedom of Association and Collective Bargaining Topic Standard
Workers of business Relationships Topic Standard
50

Topic Standard Project for Labor
Project update

Project
initiation

Project
commencement

Draft
development

PublicexposureStandard
revision

Approval &publication

Status• Finalizing set 1 of exposure drafts and submit to GSSB for approval in May 2024
• Final publication set 1 in Q2 2025
• Drafting set 2 of exposure drafts ongoing and submit for GSSB approval in Q3 2024
• Final publication set 2 estimated for Q3 2025

• Drafting set 3 of exposure drafts start in 2nd half 2024 and submit to GSSB Q2 2025
• Final publication set 3 estimated for Q4 2025

51

Sector Standards in the pipeline

Basic materials and needs

Pilot projects•••

Oil & gas
Coal
Agriculture,
aquaculture& fishing

•
•
•
•
•
•
•
•
•
•

Other services
and light
manufacturing

Transport,
infrastructure
and tourism

Industrial

Group 1

Group 2

Group 3

Group 4MiningBanking
Capital markets
Insurance
Textiles & apparel
Food & beverage
Utilities
RenewableenergyForestry
Metal processing

•

•

•
•
•

•
•
•
•
•
•
•

Construction
materials
Aerospace &defenseAutomotive
Construction
Chemicals
Machinery &equipment
Pharmaceuticals
Electronics

•
•
•
•
•
•
•
•

Media &
communication
Software
Real estateTransportation
infrastructure
Shipping
Trucking
Airlines
Trading, distribution
and logistics
Packaging

•
•
•
•
•
•

Educational services
Household durable
Managed healthcare
Medical equipment &services
RetailSecurity services &correctional facilities
Restaurants
Commercial services
Non-profit
organizations
52Sector Standards under development
Sector Standards

Upcoming GSSB milestones

Mining (GRI 14)

Released Q1 2024

Banking

Capital Markets

GSSB meeting December 2024 Approval for public exposure Q4 2024 – Q1 2025
Expected release Q3 2025

Insurance

Public exposure Q2-Q3 2025
Textiles and Apparel
Expected release Q1 2026

Previously published Sector Standards:• GRI 11: Oil and Gas Sector• GRI 12: Coal Sector• GRI 13: Agriculture, Aquaculture andFishing Sectors

53Sector Standard Project for Financial Services
Project update

Project
initiation

Project
commencement

Draft
development

PublicexposureStandard
revision

Approval &publication

Status• Daft development Sept 2023 – Nov 2024
• Consensus reached on likely material topics• In-person TC meeting taking place on 17-18 Aprilo Focus on determining reporting expectations• Seeking alignment where possible• Submit exposure drafts to GSSB Dec 2024

54

Sector Standard Project for Financial Services
Timeline
SectorFinancial
Services

Q2 2024

Q3 2024

Q4 2024

Draft
Draft
Exposuredevelopment development draft
approval

Q1 2025

Publiccomment
periodQ2 2025

Revision

Q3 2025

Standard
approval(expected)

...

55

Revision of Sector Standards
Sector Standards

Upcoming GSSB milestones

Sector Standards alignment with GRI 101:
Biodiversity 2024 and Climate Change andEnergyContent development Q1 2025

GRI 11: Oil and Gas Sector
GRI 12: Coal Sector
GRI 13: Agriculture, Aquaculture and Fishing
Sectors
GRI 14: Mining Sector

Public exposure Q2 2025
GSSB approval Q3 2025

56

Research

Projects

Upcoming GSSB milestone

Public sector

GSSB meeting May 2024
presentation and discussion

Digitalization, data protection, cybersecurity, artificial intelligence,and privacy

GSSB meeting October 2024
presentation and discussion

International Humanitarian Law

2025

57

Universal Standards update*
Topic

Standards

Upcoming GSSB milestone
GSSB meeting April 2024 –Decision on project start

Narrow-scope
amendments to GRI
1 and GRI 3

GRI 1: Foundation 2021
GRI 3: Material Topics 2021

GSSB meeting May 2024 –Approval draft project proposal
GSSB meeting July 2024 –Approval final project proposal
GSSB meeting October 2024 –Approval for public exposure*Subject to GSSB decision58

Implementation of GRI Standards
Projects

Timeframe

Translation of GRI Standards• GRI 101: Biodiversity 2024
• GRI 14: Mining Sector 2024

Expected release Q2 2024

GSSB advice April-May 2024

GRI Standards XBRL Taxonomy

Public exposure Q2 2024
Expected release Q3 2024

Guidance to identify risks and opportunities that arise from impacts

Ongoing implementation activities• Technical enquiries and feedback monitoring• Support for education, services, and community engagement

Start subject to additional resources59

Implementation of GRI Standards
Interoperability resources

Timeframe

Interoperability considerations for GHG emissions when applying
GRI Standards and ISSB Standards
Developed jointly with ISSB

Released Q1 2024

GRI Standards and ESRS Interoperability Index• Finalize draft version• Include GRI 101: Biodiversity 2024 update
Developed jointly with EFRAG

Expected release Q2 2024

GRI Standards and ESRS data point mapping• Finalize draft version• Include GRI 101: Biodiversity 2024 update

Expected release Q2 2024••

Expected release Q2 2024
Expected release Q4 2024

Mapping between GRI Standards and TNFD Framework
Joint case study and guidance on the links between nature
related impacts and risks and opportunities
Developed jointly with TNFD

60

Cooperation with other standard-setting bodies andinternational organizations
European Financial Reporting Advisory Group (EFRAG)• Development of ESRS for SMEs, non-EU undertakings, and implementation guidance:o GRI to provide technical input on implementation guidance on materiality, value chain, andlist of ESRS data points [completed in January 2024]
o GRI to provide technical input on LSME and VSME [Q2 2024]
o GRI to provide technical input on non-EU ESRS [2024]• Development of sector standards: [TBD 2024]
o Alignment of sector classificationso GRI to provide technical assistance for sectors completed by GRI (GRI 11, 12, 13, 14)
o Further coordination of research, content development and public exposure for new sector
standards under discussion• Development of interoperability resources:o Joint interoperability index, including GRI 101 update [Q2 2024]
o Interoperability of digital XBRL taxonomies, with a digital correspondence table between
both standards [TBD 2024-2025]

62

Cooperation with other standard-setting bodies andinternational organizations
International Sustainability Standards Board (ISSB)• Reserved capacity for collaboration pending ISSB next agenda priorities
International Public Sector Accounting Standards Board (IPSASB)• GRI staff has joined the IPSASB climate-related disclosure project​• IPSASB has nominated Board member for the GRI Economic impact projectInternational Auditing and Assurance Standards Board (IAASB)• Continuation of Board level engagement

International Ethics Standards Board for Accountants (IESBA)• Continuation of Board level engagement
National regulators and capital markets• Reserved capacity for engagement and development of resources as needed63

Next steps• Discussions with ISSB and EFRAG• Approval of project schedule 2024 addendum to GSSB 2023-2025 Work Program at
upcoming May GSSB meeting64Session 2.7
Any other business and close of
meeting
Carol Adams

GSSB meetings for 2024
Dates 2024
Thursday, 16 May

Time
12:30 CEST

Thursday, 20 June

12:30 CEST

Thursday, 18 July

12:30 CEST

Thursday, 12 September

12:30 CEST

Tuesday, 15 and Wednesday, 16 October

2 day in person meeting

Thursday, 21 November

07:00 CET

Thursday, 12 December

07:00 CET

66

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