IFRS Basis and GRI publish a abstract of interoperability issues for greenhouse fuel emissions.
The World Reporting Initiative and the IFRS Basis as we speak collectively revealed a brand new evaluation and mapping useful resource: Interoperability considerations for greenhouse gas emissions when applying GRI standards and ISSB standards.
The publication illustrates the areas of interoperability that an organization ought to think about when measuring and disclosing greenhouse fuel (GHG) emissions in Scope 1, Scope 2 and Scope 3, in accordance with each GRI 305: Emissions and IFRS S2 Local weather-related disclosures.
The necessities in GRI 305 and IFRS S2 present a excessive diploma of coordination. For instance, each are primarily based on the GHG Protocol. The alignment signifies that firms that already disclose Scope 1, 2 and three greenhouse fuel emissions primarily based on the GRI requirements will probably be properly positioned to report greenhouse fuel emissions info in accordance with IFRS S2. As well as, different disclosures concerning greenhouse fuel emissions could also be aligned relying on the alternatives an organization makes when making use of GRI 305 and IFRS S2.
The useful resource is the results of the continuing collaboration between the IFRS Basis and GRI and goals to help extra environment friendly reporting for firms utilizing each the ISSB and GRI requirements.
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In November 2023, GRI introduced the launch of the Sustainability Innovation Lab (SIL) primarily based in Singapore, in coordination with the IFRS Basis. The SIL brings collectively world and native companions to advertise reporting capabilities primarily based on the GRI requirements and the ISSB requirements.
Since March 2022 GRI and the IFRS Foundation have worked together below a cooperation settlement that has sought to attain coordination of their sustainability-related work applications and standard-setting actions.