Sustainable Business Planning & Strategy Gri Reporting

Question :

Many firms following GRI reporting guidelines must do so in a separate report from their annual report to preserve the guidelines.  Firms who choose to integrate the report do so by modifying GRI guidelines. 

Answer :

Integrated reporting is more important as a necessary and important innovation is developed by it regarding corporate reporting. The international integrated reporting Council (IIRC) has been formed in august in the year 2010 with the objective of creating an accepted framework globally for the sake of a procedure that leads to communications through a company regarding the creation of value over time. The initial version of the international integrated reporting framework was published by IIRC in December in the year 2013 (Etzion et al., 2017). 

GRI is advocating including the robust sustainability metrics to integrate reporting for supporting the total vision of a sustainable economy globally. Being a pioneer of developing sustainability reporting from the last few decades and the standard-setter globally for the disclosure of sustainability, it has been believed by GRI that it has a major part along with the duty of collaborating actively in the future development of integrating reports (Chen et al., 2016). It has been believed by GRI that integrated reports that incorporate proper material sustainability information of material equally with information about finances give reporting companies with a wide viewpoint regarding risk. 

There are huge numbers of organizations all over the world that use the guidelines of GRI for disclosing sustainability information and many of them are presently doing experiments with the integrated report. For increasing the development of the integrated reports and for the active participation in such evolution, GRI summoned a Corporate Leadership Group on Integrated Reporting along with the community members along with the other organizations who are engaged in integrated reporting and sustainability reporting for being capable of contributing directly for ongoing dialogue around the integrated reports. The issues have been addressed by the integrated reports which were identified by Coca-Cola as material to the investor as well as other key shareholders. Such issues have been prioritized and identified by a series of shareholders involvement tactics going beyond with simply putting highlight the relevant initiatives to addressing strategically the opportunities and risks which the important problems available. This also involves additional information on governance and sustainability financial review. 

References

Bojonca, D. (2019). Corporate sustainability in the fast fashion industry: the case of H&M.