The European Financial Reporting Advisory Group (EFRAG) and the Global Reporting Initiative (GRI) have announced a new cooperation agreement to strengthen collaboration on sustainability reporting. The agreement includes plans to work together on areas such as reporting standards development and training. The organizations have released a GRI-ESRS Interoperability Index, outlining how the disclosure requirements and data points in the European Sustainability Reporting Standards (ESRS) and the GRI standards relate to each other. This tool aims to prevent the need for “double reporting” for entities disclosing under both systems. The collaboration is part of ongoing efforts to enhance global progress in quality sustainability reporting and minimize the reporting burden for companies.
By FCCT Editorial Team