New GRI Biodiversity Customary out there to be used by firms worldwide
With nature below unprecedented stress, with human exercise the primary explanation for one million animal and plant species susceptible to extinction, GRI has as we speak printed a serious replace to its Biodiversity Customary.
Establishing a brand new world benchmark for duty for biodiversity impacts, GRI 101: Biodiversity 2024 helps organizations world wide to comprehensively disclose their most vital impacts on biodiversity, all through their operations and worth chain.
By enabling firms to satisfy rising multi-stakeholder calls for for biodiversity impression info, the GRI Biodiversity Customary delivers:
- Full transparency all through the availability chain – the place crucial penalties for biodiversity are sometimes underreported.
- Location-specific reporting on impacts – together with international locations and jurisdictions, with detailed info on the situation and measurement of operational websites.
- New revelations in regards to the direct causes of biodiversity loss – protecting land use, local weather change, overexploitation, air pollution and invasive species.
- Necessities for reporting impacts on society – together with these on communities and indigenous peoples, and the way organizations work with native teams to revive affected ecosystems.
The revised GRI customary builds on necessary world developments within the area of biodiversity, such because the UN Kunming-Montreal International Biodiversity Framework (GBF), the Science Primarily based Goal Community (SBTN) and the Taskforce on Nature-related Monetary Disclosures (TNFD) .
The brand new GRI Biodiversity Customary comes at a time when biodiversity is at a precipice: the latest IPBES assessment warns that biodiversity is declining in each area; whereas 50% of the worldwide financial system is threatened by biodiversity loss (WEF analysis). In the meantime, the internationally agreed GBF encourages motion to guard biodiversity Goal 15 requiring firms to reveal and cut back biodiversity-related dangers and impacts.
Each group can obtain without spending a dime GRI 101 now, whereas it is going to be formally in impact for reporting on January 1, 2026. Over the subsequent two years, GRI will check using the usual amongst early adopters, with precedence given to members of the GRI neighborhood.
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“The implications of biodiversity loss lengthen far past the pure atmosphere, undermining progress on the SDGs and having devastating penalties for folks, whereas additionally multiplying the local weather disaster. Understanding the impression organizations have is subsequently an important facet of implementing world options to halt and even reverse the harm and deal with existential threats. The up to date GRI customary units a brand new bar for transparency in regards to the impression on biodiversity. It helps detailed, site-specific reporting, each inside a company’s operations and throughout its provide chain, so stakeholders can assess how impacts on biodiversity are being mitigated and decreased. Figuring out and managing a company’s key impacts is vital to understanding dependencies and dangers.” Carol Adams, Chair of the GRI International Sustainability Requirements Board (GSSB)
“We congratulate GRI on this necessary milestone in bettering transparency in assist of a worldwide effort to guard biodiversity. TNFD has labored carefully with GRI with the intention of simplifying and aligning the TNFD suggestions and GRI requirements. Because of this collaboration, the TNFD suggestions are extremely according to the GRI requirements, simply because the GRI Biodiversity Customary is predicated on the work of the TNFD. We look ahead to our additional cooperation.” Tony Goldner, govt director of the TNFD
“The SBTN is happy to welcome the brand new GRI Biodiversity Customary, along with the combination of the science-based goals for the character strategy. This facilitates firms to successfully handle and disclose their impression on nature, together with biodiversity. We look ahead to persevering with our collaboration.” Erin Billman, govt director of Science Primarily based Targets Community
“Simply over a 12 months in the past, the world agreed to halt and reverse biodiversity loss. A nature-positive world objective. To realize this ambition, we want requirements and metrics to evaluate and report unfavourable and constructive impacts, and to drive motion and accountability. We all know what we have to do, we have to do it on the scale and velocity mandatory to construct a nature-positive future. One with extra nature, not much less.” Marco Lambertini, President, Nature Constructive Initiative
“There was a elementary shift in expectations round company duties relating to biodiversity. Corporations should take pressing motion to halt biodiversity loss, restore nature and respect the rights, roles and contributions of individuals in provide chains. When these actions not solely happen, however are additionally validated and communicated by means of a typical reporting construction equivalent to GRI, all stakeholders profit from such transparency.” Julia Oliva, coverage director of the Union for Moral Natural Commerce
“We all know that until we take pressing motion to remodel our financial system, one million species can be susceptible to extinction. But we now have proven that it’s potential to enhance the pure world and we all know what it takes to alter issues. Understanding and addressing the enterprise impacts is vital. The up to date GRI Biodiversity Customary makes me optimistic about our collective energy to form the long run we would like and that nature wants.” Martin Harper, CEO of BirdLife Worldwide
The function of the GRI Biodiversity Customary within the world context can be introduced in two webinars, for which free seats might be booked now: January 31 (09:00 CET) or February 1 (16:00 CET). Individuals will hear from GRI and the GSSB, together with key stakeholders.
GRI 101: Biodiversity 2024 up to date and can change GRI 304: Biodiversity 2016. The revised customary was developed by means of a multi-stakeholder course of Technical commission appointed by the GSSB and consists of consultants from:
- Firm: ConocoPhillips, DSM, L’Occitane, Rio Tinto
- Civil society: BirdLife Worldwide, International Commons Alliance, Marine Watch Worldwide, WWF
- Buyers: Partnership for Biodiversity Accounting Financials, World Financial institution
- Work: Division of Conservation – Wellington
- Middleman establishments: CDP, International Stability, Lancaster College, Pollination, Rainforest Alliance, Union for Moral BioTrade, UNEP World Conservation Monitoring Heart