Corporate Transparency & Sustainability Reporting Dr. Aditi Haldar & Ms. Rubina Sen GRI South Asia
Agenda Presentation structure i. The Sustainability Challenge ii. About GRI iii. Understanding the GRI Standards iv. Business Case & Value of Reporting
Sustainability Reporting GRIs proposition We live in a world of multiple dimensions where a variety of resources and relationships contribute to understanding the full story of an organization s impacts and value creation. Only by acknowledging the connectivity between these resources and relationships is it possible to understand the full picture. This is why it is essential that corporate reporting is seen through a broader lens that brings into focus sustainability information together with other considerations.
Sustainability Reporting GRIs proposition
The Sustainability Challenge
The sustainability challenge How can business be profitable and contribute to solutions at the same time?
Sustainability Reporting Sustainability reporting is an organization s practice of reporting publicly on its economic, environmental, and/or social impacts, and hence its contributions positive or negativetowards the goal of sustainable development.
Sustainability Reporting Helps to set goals, measure performance and manage change Includes most significant impacts Makes abstract issues tangible and concrete Helps organizations develop sustainability related strategies and activities Is stakeholder-focused, performance-bridging and marks continuous improvement
Sustainability Reporting How do you measure sustainability impacts? Who defines the metrics to measure them?
About GRI Who we are
Our Work
A Global Perspective GRI Regional Hubs Europe China North America Latin America Africa South Asia Oceania South-East Asia
GRI & GRI Regional Hub South Asia GRI Headquarter: Netherlands GRI South Asia office: New Delhi & satellite office in Mumbai Regional reach: India, Sri Lanka, Bangladesh, Pakistan Supporters: GRI South Asia Consortium, Gold Community, Partners, SDG Corporate Members Focus: Mainstreaming sustainability and transparency alongside rapid economic growth
The Value of Sustainability Reporting
Multi-stakeholder Approach Business Academia Civil Society Governments Capital Markets Labor
Our Impact KPMG Survey of corporate responsibility reporting 2017 75% of the largest 250 companies use the GRI framework
Sustainability reporting is becoming a mainstream business practice
Top Ten GRI Reporting Regions/Markets 2015 & 2016 2015 2016
GRI Reporting in South Asia 2014-2016
Sustainability Reporting in Bangladesh
Bangladeshi Reporters 2015 2017 2017 2016 2015 Bank Asia Bank Asia Bank Asia BRAC Bank Ltd. DBL Group DBL Group Eastern Bank Ltd. IDLC IDLC IDLC Janata Bank Ltd. Janata Bank Ltd. Janata Bank Ltd. Mutual Trust Bank Ltd. Mutual Trust Bank Ltd. Mutual Trust Bank Ltd. Olympic Prime Bank Ltd. Olympic Prime Bank Ltd. Robi Axiata Ltd. Prime Bank Ltd. Southeast Bank Ltd. Southeast Bank Ltd. VIYELLATEX Group
GRI Standards GRI Standards are a set of interrelated reporting standards, enabling organizations to report publicly on their economic, environmental and social impacts and contribution towards sustainable development. The GRI Standards represent global best practice for reporting sustainability information enhancing its comparability and quality.
GRI Standards Improved, modular structure Restructured content to a set of modular, interrelated reporting standards Improved structure and format, with clearer language and presentation Clearer distinction between requirements ( shall ), recommendations ( should ) and guidance Clarifications on how to use and reference the Standards Standards are effective for reports published on or after 1 July 2018. Earlier adoption is encouraged.
GRI Standards How to use the Standards Three Universal Standards to be used by all reporters Thirty-three topic-specific Standards to be used according to the identified material topics Topic specific Standards are categorized into social, environmental and economic series
GRI Standards Modular Structure
GRI 101: Foundation Starting point for using the GRI Standards Section 1: Reporting Principles, includes the ten Reporting Principles for defining report content and quality, along with guidance. CONTENT Stakeholder Inclusiveness Sustainability Context Materiality Completeness Reporting Principles QUALITY Accuracy Balance Clarity Comparability Timeliness Reliability
GRI 102: General Disclosures Disclosures about the organization and its reporting practice Organized into six sections: 1. Organizational profile 2. Strategy 3. Ethics & integrity 4. Governance 5. Stakeholder engagement 6. Reporting practice
The GRI Sustainability Reporting Standards GRI 102: General Disclosures - Zenith Bank s Sustainability Report
GRI 103: Management Approach To be applied to the reporting of each material topic The management approach is a narrative explanation of how the organization manages a material topic and related impacts The Standard requires organizations to provide a narrative description of how they manage a material topic and related impacts The Management approach Standard is designed to be used together with the topic-specific Standards (series GRI 200, GRI 300 and GRI 400), and any other material topic
Topic-Specific Standards Economic Series (200)- Environmental Series (300) Economic 201 Economic Performance 202 Market Presence 203 Indirect Economic Impacts 204 Procurement Practices 205 Anti-corruption 206 Anti-competitive Behavior Environmental 301 Materials 302 Energy 303 Water 304 Biodiversity 305 Emissions 306 Effluents and Waste 307 Environmental Compliance 308 Supplier Environmental Assessment
Topic-Specific Standards Social series (400) Social 401 Employment 402 Labor/Management Relations 403 Occupational Health and Safety 404 Training and Education 405 Diversity and Equal Opportunity 406 Non-discrimination 407 Freedom of Association and Collective Bargaining 408 Child Labor 409 Forced or Compulsory Labor 410 Security Practices 411 Rights of Indigenous Peoples 412 Human Rights Assessment 413 Local Communities 414 Supplier Social Assessment 415 Public Policy 416 Customer Health and Safety 417 Marketing and Labeling 418 Customer Privacy 419 Socioeconomic Compliance
GRI Standards Focus on Materiality Materiality principle The report should cover topics that: reflect the reporting organization s significant economic, environmental, and social impacts; or substantively influence the assessments and decisions of stakeholders.
Materiality Matrix Zenith Bank s Sustainability Materiality Matrix 2016
GRI Standards Understanding impact Impacts refers to the organization s contribution (positive or negative) to sustainable development.
Business Case & Value of Reporting
Value of Reporting
Thank you info@globalreporting.org www.globalreporting.org GRI Barbara Strozzilaan 336 1083 HN Amsterdam The Netherlands Amsterdam New York Beijing Sydney New Delhi Johannesburg Bogota São Paulo