GRI Universal Standards 2021

In October 2021, the Global Reporting Initiative (GRI) released the new GRI Universal Standards 2021, which will take effect on January 1, 2023, to strengthen sustainability disclosure standards. The following will provide information on the revisions.

Timeline of the GRI Universal Standards 2021 release

The current Universal Standards GRI 101, GRI 102, and GRI 103 are renamed GRI 1, GRI 2, and GRI 3.

Diagram of the renaming of the GRI Universal Standards

The current Standards GRI 103: Management Approach are renamed GRI 3: Material Topics.

Diagram of GRI 103 renamed to GRI 3 Material Topics

Develop disclosure guidelines for specific industries to reflect the significant environmental, social and economic impacts of an organization's operations. Prioritized industries include 40 industries including Oil and Gas, Coal, Agriculture, Aquaculture and Fishing Sectors.

Diagram of GRI sector-specific disclosure guidelines

Human rights and due diligence incorporated into the new GRI 2: General Disclosures.

Diagram of human rights and due diligence in GRI 2 General Disclosures

The new Universal Standards 2021 will no longer distinguish between core or comprehensive options. The ESG Report prepared in accordance with the GRI Standards must disclose all items in GRI 2: General Disclosures.

Diagram showing removal of the core / comprehensive distinction

The 4 reporting principles that defined the content of the report and the 6 reporting principles that defined the quality of the report were consolidated into 8 reporting principles in the new GRI Universal Standards 2021.

Diagram of the consolidated 8 reporting principles