Three new GRI Standards for Sustainability Reporting Come into Effect

1. January 27th , 2021
Three new GRI Standards for Sustainability
Reporting Come into Effect

2. About Sustainability Knowledge Group
Our Vision is
to make Sustainable Business a Choice for companies and
organizations around the world.
Sustainability Knowledge Group is a global advisory firm dedicated in creating value, through strategic
CSR and Sustainability solutions. We provide tailor made training, coaching and advisory services
grounded in international theory and successful application.
Sustainability Knowledge Group emphasizes in implementing methodologies that bring tangible results,
measurable impact and create better businesses.
The fundamentals of how we conduct business
Reliability Professionalism
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CSR Coaching
• Coaching for Sustainability
Professionals
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Consulting Service Lines
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Sustainability Professionals
(ISSP) UAE Chapter
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ILM &CPD training
courses
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4. Our clients include*
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* sample clientele
Our reach
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© 2021 Sustainability Knowledge Group

5. Three new GRI Standards for Sustainability Reporting
Come into Effect
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Global Reporting Initiative (GRI) is an independent, international organization that
helps businesses and other organizations take responsibility for their impacts, by
providing them with the global common language to communicate those impacts.
GRI Standards are the most widely used standards in the world for sustainability
reporting.
Under the Global Sustainability Standards Board (GSSB) supervision, which is the
independent body within GRI’s governance with sole responsibility for standard-
setting, three new disclosure standards have been developed and now come into
effect.
In 2018, the GRI updated two standards, the GRI 303: Water and Effluents 2018 and
the GRI 403: Occupational Health and Safety 2018. In December 2019, the GRI 207:
Tax 2019 was published, the first global reporting standard for tax transparency,
Effective January 1, 2021, companies that identify any of these topics as material
must adhere to the three updated and new standards in their sustainability reporting.
According to Bastian Buck, GRI Chief of Standards: “The GRI Standards seek to enable
companies to communicate the full range of their impacts on the economy, the
environment and society. That is why they are regularly reviewed, with content updated
and the addition of new topics considered.” These three standards will help
organizations and companies respond to the emerging demands of their
stakeholders. They will highlight the contributions of companies to critical issues and
advance sustainable development.
© 2021 Sustainability Knowledge Group
Three new GRI Standards for Sustainability Reporting Come into
Effect

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The new standards
GRI 303: Water and Effluents 2018
Water is an essential component in the life of all living things. The GRI 303 standard
aims to assist companies and organizations in assessing their impacts on water
resources, which will achieve a deep understanding of water optimization and
effective management. The updated standard considers how water is managed, and
the discharge-related impacts on local communities.
Management approach disclosures:
•Disclosure 303-1 Interactions with water as a shared resource
•Disclosure 303-2 Management of water discharge-related impacts
Topic-specific disclosures:
•Disclosure 303-3 Water withdrawal.
•Disclosure 303-4 Water discharge.
•Disclosure 303-5 Water consumption.
GRI 403: Occupational Health and Safety 2018
Healthy and safe working conditions are a human and they are also one of the
sustainable development goals (SDGs). The standard has been updated to ensure
compliance with internationally agreed best practices, which reflects recent
developments in occupational health and safety management and reporting.
© 2021 Sustainability Knowledge Group
Three new GRI Standards for Sustainability Reporting Come into
Effect

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This revised standard focuses on the safety and well-being of employees, and
addresses reporting on:
Management approach disclosures:
•Disclosure 403-1 Occupational health and safety management system.
•Disclosure 403-2 Hazard identification, risk assessment, and incident investigation.
•Disclosure 403-3 Occupational health services.
•Disclosure 403-4 Worker participation, consultation, and communication on
occupational health and safety.
•Disclosure 403-5 Worker training on occupational health and safety
•Disclosure 403-6 Promotion of worker health.
•Disclosure 403-7 Prevention and mitigation of occupational health and safety
impacts directly linked by business relationships.
Topic-specific disclosures:
•Disclosure 403-8 Workers covered by an occupational health and safety
management system.
•Disclosure 403-9 Work-related injuries.
•Disclosure 403-10 Work-related ill health.
© 2021 Sustainability Knowledge Group
Three new GRI Standards for Sustainability Reporting Come into
Effect

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GRI 207: Tax 2019
Taxes are an important source of government revenue and countries’ macroeconomic
stability. According to the United Nations, taxes play an important role in achieving
SDGs. They reflect and enhance community institutions’ contribution as part of the
impact of sustainability, strategy, and performance.
GRI 207: Tax 2019 is the first global reporting standard for tax transparency, and this
standard was developed in response to the information needs of investors, civil
society, business organizations and others.
The standard helps organizations and companies understand and communicate
information about their tax practices (their revenues, taxes, and business activities on
a country-by-country basis). The standard also supports transparency about the tax
contribution that companies make to the economies in which they operate.
This new Standard includes disclosures on the management approach and topic-
specific disclosures. These are set out in the Standard as follows:
Management approach disclosures:
• Disclosure 207-1 Approach to tax.
• Disclosure 207-2 Tax governance, control, and risk management.
• Disclosure 207-3 Stakeholder engagement and management of concerns related to
tax.
© 2021 Sustainability Knowledge Group
Three new GRI Standards for Sustainability Reporting Come into
Effect

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Topic-specific disclosures:
•Disclosure 207-4 Country-by-country reporting.
To keep the GRI standards relevant and up-to-date, the GSSB reviews existing GRI
standards and develops new standards every three years. The standards are
developed based on the experience and perspectives of a multi-stakeholder group on
sustainability reporting. From tax transparency to employee welfare and water
stewardship, these three standards will now be in effect for many organizations and
companies. The new standards will enable organizations and companies to
communicate better sustainability impacts, which will lead to them preparing
effective reports on how they contribute to sustainable development.
You can view and access the updated GRI standards
here: https://www.globalreporting.org/standards/download-the-standards/
© 2021 Sustainability Knowledge Group
Three new GRI Standards for Sustainability Reporting Come into
Effect

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Have Trusted us for Training and Consultancy Assignments
Banking/Financial
Investment funds
Groups &
International
Conglomerates
Concessionaire
PPP
Retail/FMCG Energy Hospitality

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© 2021 Sustainability Knowledge Group
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International
Agencies & Non
Profits
Utilities
Learning
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