The International Reporting Initiative (GRI), one of many main sustainability reporting normal setters, has printed a revised model of its biodiversity normal : “GRI 101.” It can assist corporations reporting by GRI perceive and disclose their biodiversity impacts. 

With the brand new normal, GRI has responded to the rising company curiosity in nature conservation, which has quickly superior following the adoption of the International Biodiversity Framework (GBF) in 2022. 

GRI made “fairly important adjustments and revisions” to its prior biodiversity normal GRI 304, stated Elodie Chêne, senior requirements supervisor on the group. The brand new normal presents worldwide greatest practices for halting and reversing biodiversity loss. For instance, it asks corporations to report on the direct drivers of biodiversity loss, corresponding to air and water air pollution and the unfold of invasive species. 

A extra stringent method

The brand new necessities will have an effect on corporations throughout a spread of sectors, together with meals and agriculture, mining and oil and different industries with giant land and water footprints.

GRI’s requirements outline eight classes that corporations with important biodiversity footprints should report on, together with biodiversity insurance policies, commitments and affect administration approaches. Different nature frameworks let corporations choose the problems they wish to disclose.

For instance, the Taskforce on Nature-related Monetary Disclosures (TNFD) developed a set of 14 disclosure classes, corresponding to the overall space of land disturbed, that corporations are really useful however not required to report on. GRI’s extra stringent method may deliver elevated transparency and accountability to the biodiversity area — if corporations determine to report in accordance with it. 

Controversial matters: provide chains and offsets 

GRI 101 incorporates new greatest practices for measuring and managing biodiversity loss and requires corporations to report straight on their major drivers. It additionally asks for location-specific impacts and the way they have an effect on communities. 

In line with Chêne, three matters stood out as essentially the most controversial points within the public session course of throughout which companies, civil society and technical specialists submitted 122 feedback on the usual’s draft:

• Provide chain disclosures: Essentially the most important biodiversity impacts are inclined to happen in corporations’ provide chains, however getting information from suppliers past the primary tier is difficult and site-specific data might be commercially delicate. GRI 101 permits corporations to report provide chain impacts at a rustic degree whereas encouraging the disclosure of extra granular location information.  
• Biodiversity offsets: GRI asks corporations to report on their offsetting practices to foster a greater understanding of how totally different industries are utilizing them and what greatest practices could also be. Firms want to offer data on their offsets’ targets, geographic location, rules and third-party certifications or verifications. 
• Prioritizing key impacts: Reporting on all biodiversity impacts is sort of unimaginable. GRI 101 focuses on essentially the most important ones and suggests methods to prioritize. However this doesn’t imply corporations can select to not report on some materials matters altogether, as is the case with different frameworks. 

GRI within the broader nature framework panorama

For the previous few years, normal setters and governments have labored to duplicate the reporting infrastructure developed for the local weather disaster to the biodiversity disaster. This work goals to progress quickly to satisfy the GBF’s bold 2030 targets, corresponding to restoring 30 p.c of the world’s degraded land. The velocity at which new frameworks, insurance policies and instruments are creating has overwhelmed corporations.  

GRI didn’t attempt to compete with or duplicate the efforts of different outstanding frameworks, corresponding to TNFD or the Science Based mostly Targets Community (SBTN). As an alternative, GRI collaborated carefully with their groups and tapped into a number of the similar technical specialists to make sure that the frameworks had been aligned and strengthened their distinct roles and targets: “If it is advisable to set targets, go for SBTN. If it is advisable to measure your affect, go to TNFD. And if you wish to disclose, go to GRI,” Chêne stated.

To offer additional readability, the UN Surroundings Programme has printed an evaluation that compares the scope, materiality definition and provide chain protection of essentially the most outstanding nature-related evaluation and disclosure frameworks and requirements. 

GRI 101 will formally go into impact Jan. 1, 2026. The transition interval will permit corporations to rise up to hurry with the brand new normal, however they will undertake it earlier if prepared.