GLOBAL REPORTING INITIATIVE (GRI) BIODIVERSITY STANDARD

Copyright infringement is not intended

Context: As the world meets in Montreal to address global biodiversity concerns, the draft of standards for firms to self-report their impact on the environment is now open for consultation. The Global Sustainability Standards Board (GSSB), an independent global organisation, has approved the exposure draft of the revised Global Reporting Initiative (GRI) Biodiversity Standard.

Details:

• The GRI is a global entity that helps businesses take responsibility for their impacts on biodiversity. GRI Standards are designed to be used by organisations to report on their impacts on the economy, the environment and society.
• The exercise will review the GRI 304, a biodiversity-related topic. It defines reporting requirements on the topic of biodiversity by an organisation.
• The review is being done under the Biodiversity 2016 Project: It represents internationally agreed best practices and aligns with recent developments as well as relevant authoritative intergovernmental instruments in biodiversity.
• The decided standards will allow organisations to publicly disclose their major impacts on biodiversity and its management. The disclosure also aims to improve transparency and increase organisational accountability.
• The exposure draft will be a response from the companies to its multiple stakeholders who demand to assess more, disclose and curb their biodiversity impacts.
• The revised proposal of GRI 304 suggested to:
• Reflect reporting throughout the supply chain, given many biodiversity impacts are found beyond the scope of a company’s own operations.
• Help organisations prioritise attention on their most significant impacts, recognising the challenge of scale in addressing biodiversity impacts.
• Add new disclosures to connect with the drivers of biodiversity loss, including climate change, pollution and overexploitation of resources.
• Introduce requirements for biodiversity-related human rights impacts, such as those on indigenous peoples, local communities and workers.
• Emphasise location-specific data to ensure businesses are transparent about the sites where their biodiversity impacts take place.

https://www.downtoearth.org.in/news/wildlife-biodiversity/step-to-accountability-revised-draft-of-standards-for-firms-to-self-report-environmental-impact-approved-86379