gssbsecretariat@globalreporting.org

Item 01 – Draft summary of the GSSB
meeting held on 16 November 2023
For GSSB approval
Date

20 November 2023

Meeting

14 December 2023

Description

This document presents the summary of the GSSB virtual meeting held on 16November 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. TheGSSB is the independent standard setting body of GRI. For more information visit
www.globalreporting.org.

© GRI 2023

Contents
Participants.............................................................................................................................................. 3
List of abbreviations ................................................................................................................................ 3
Decisions and action items ..................................................................................................................... 4
Session 1: Welcome ............................................................................................................................... 4
Session 2: Update Standards Division .................................................................................................... 4
Session 3: GRI Topic Standard Project for Climate Change – Exposure draft ...................................... 4
Session 4: Standard development project priorities in 2024 ................................................................... 6
Session 5: Close of public meeting ......................................................................................................... 6Page 2 of 6

1

Participants

2Present:

345

Name

Constituency

Carol Adams

Chair

Jeff Robertson

Vice-ChairPeter Colley

Labor

Chulendra De SilvaMediating institution

Giulia Genuardi

Business enterprise

Vincent Kong

Business enterprise

Corli le RouxMediating institution

Joseph Martin

Business enterprise

Anna Nefedova

Mediating institution

Deborah Ng

Investment Institution

Jennifer Princing

Business enterprise

Kim Schumacher

Civil society organization

Gangaa Charan SharmaBusiness enterprise

Galya Tsonkova

Business enterprise

Apologies:
Name

Constituency

Loredana Carta

Labor

In attendance from GRI:
NamePosition

Bastian Buck

Chief of Standards

Harold Pauwels

Director Standards

Margherita Barbieri

Manager Standards

Gillian Balaban

Sr. Coordinator Governance Relations

List of abbreviations
Abbreviation

Full name

GRI

Global Reporting Initiative

GSSB

Global Sustainability Standards Board

SDStandards Division

WG

Working group

TC

Technical committee

Page 3 of 6

6Decisions and action items

7

The GSSB resolved to approve the following:
GSSB Decision

Item number

2023.31

01 – Draft summary of the GSSB meeting held on 17-18 October 2023

2023.32

02 – GRI Topic Standard Project for Climate Change – Climate Change
Exposure draft
03 – GRI Topic Standard Project for Climate Change – Energy Exposure draft

2023.33

8Session 1: Welcome

9The Global Sustainability Standards Board (GSSB) Chair Carol Adams (henceforth the Chair)

10

welcomed the GSSB. The Chair presented an overview of the meeting agenda. A quorum was11established, and the above item was presented to the GSSB for approval.

12

Session 2: Update Standards Division

13

Chief of Standards, Bastian Buck, provided a brief update as follows:

14•Staffing efforts are progressing, with vacant positions steadily closing.

15•The budget process is ongoing. An update will be provided in December, with the approval of1617

the addendum to the 2024 work program planned for January.
•The GSSB is encouraged to share ideas to maximize the impact of the public consultation on

18

Climate Standards and the launch of Mining and Biodiversity Standards. If GSSB members

19

want involvement, please connect with GRI colleagues or the Marketing & Communications

20

department to support these efforts.

23

Session 3: GRI Topic Standard
Project for Climate Change –Exposure draft

24

Harold Pauwels, Director Standards, presented the exposure draft of the Topic Standards Project for25

Climate Change for GSSB approval.

21222627•

The project aimed to align with best practices, including the Paris Agreement, and incorporate
stakeholder expectations for the reporting landscape.

Page 4 of 628•

This effort resulted in a climate change draft and an energy draft. Climate change contains 1029

disclosures (6 new), and energy contains 5 disclosures (1 new). Both address climate-related

30

impacts beyond reporting on GHG emissions and energy consumption.

31

•

32
33

SD provided an overview of project changes, including climate adaptation, just transition,
GHG removals, and energy management.

•SD noted that the TC identified no fatal flaws.

34

The GSSB asked several questions about the exposure draft prior to approval. The following points

35

list GSSB questions and comments:

36•

How can more guidance be included for organizations to show their roadmap for achieving

37

targets in their transition plans? SD responded that the standard asked for reporting on their38

actions and expectations, but the roadmap was seen as too detailed at this stage. It can be

39

incorporated after the PCP.

40•

What is the requirement to constantly monitor carbon credits' positive and negative impacts?

41

SD noted that other organizations have extensive methodologies, but the disclosure also42

identifies the process. The project found that sometimes organizations must engage suppliers

43

to identify quality criteria, which is becoming a greater expectation.

44•

A GSSB member noted the importance of transparency from a disclosure perspective

45

regarding carbon credits, while another member said that carbon credits should not be

46transactional and that organizations should be responsible for their own.

47•

A GSSB member noted that from a reporting perspective, it is difficult for organizations in the48

developing world to acquire information on their Scope 3 emissions, including categories. SD

49

responded that the standard aligns with the GHG Protocol, but if there is a need for more50

guidance for different parts of the world, this can be pursued as part of the project.

51•

Is there an accountability mechanism for carbon credits and offsets, particularly if they are52

traded away or disappeared? SD responded that the aim is to increase transparency on

53

carbon credits, including reporting on quality criteria and their impacts. The next step will54

potentially arise in the PCP about more accountability on additionality or cancelations.

55
56•A GSSB member supported the addition of CC-6 to the exposure draft.

The GSSB approves the following:GSSB Decision

Item number

2023.32

02 – GRI Topic Standard Project for Climate Change – Climate ChangeExposure draft
03 – GRI Topic Standard Project for Climate Change – Energy Exposure draft

2023.33

Page 5 of 6

57

The PCP will run from 21 November 2023 to 29 February 2024. There will be several global webinars,

58

and GRI will have an active presence at COP28. There will also be several regional events to solicit

59

feedback from stakeholders. The draft will be submitted to the GSSB for final approval in Q3 2024.

61

Session 4: Standard development
project priorities in 2024

62

Harold Pauwels, Director Standards, provided an update on the priority projects for 2024. The

63

following points are for consideration:

60

64

•

Next year, the SD will work on five Sector Standards: Mining, Financial Services (Banking,65

Capital Markets, and Insurance), and Textiles and Apparel. The ability to commence projects

66

depends on further recruitment.

67•begin in 2025, based on project proposal approval in 2024.

68
69

••

74

The 2024 work program will be presented for approval at the next GSSB meeting inDecember.

72
73

Regulators and other standard setters increasingly seek to engage with GRI to align around
impact reporting, which may affect the SD’s available resources in 2024.

70
71

The Topic Standard project addressing Indigenous People and local communities will likely

In response to comments and questions from the GSSB, the SD clarified the following point:•GRI offers organizations a solution to prevent greenwashing with its principles of quality

75

reporting, the emphasis on disclosing the most significant impacts, and assurance

76

expectations. In addition, GRI’s input into policy development helps counter greenwashing by

77

enhancing transparency requirements. A blog post about this topic will be drafted by a78

member of the GSSB and reviewed by GRI.

79

Session 5: Close of public meeting80

No other business was raised, and the Chair closed the public meeting at 08.00 Central European

81

Time (CET).

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