Robin Hodess, CEO of GRI

Outcome document calls for using GRI Standards to ensure comparable sustainability disclosure across countries

GRI has been recognized during the Fourth International Conference on Financing for Development (FfD4) as foundational for the global sustainability reporting system.

Paragraph 34e of the ‘Compromiso de Sevilla’ – the outcome document of FfD4 – explicitly encourages UN Member States to “Consider utilizing standards, such as those of the International Sustainability Standards Board (ISSB) and the Global Reporting Initiative (GRI) among others, in a flexible and country-specific manner”.

This recognition follows months of active engagement by GRI and its partners with UN Member States, and it marks the first time GRI has been referenced in a UN intergovernmental agreement alongside ISSB, highlighting their complementary roles in sustainability reporting.

The outcome document:

calls on countries to adopt disclosure standards that cover impacts, risks, and opportunities (IROs)
affirms double materiality as an appropriate approach, and
encourages credit rating agencies and financial institutions to integrate these standards into their ratings and financing decisions.

Robin Hodess, CEO of GRI, said:

“Governments around the world have recognized GRI standards as a critical element to drive sustainable finance. Double materiality is the new global norm. Moving forward, reporting on impacts, risks and opportunities, as part of a streamlined global reporting system, will be essential to enable capital to close the $4+ trillion financing gap for sustainable development.”

This acknowledgement of comprehensive sustainability disclosures is key to aligning private capital with development goals, coming at a time when policymakers, financial institutions, development agencies, and civil society are working together to find practical solutions to today’s financing for development challenges.

Global Reporting Initiative (GRI) is the independent nonprofit organization that is the architect of the common global language to assess and report on environmental, social and economic impacts. GRI provides standards, tools and training that empower organizations of all sizes to create sustainable, long-term value and unlock positive change in the world.

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