GRI establishes Sustainability Innovation Lab in coordination with the IFRS Foundation
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Global Reporting Initiative (GRI) has announced the upcoming launch of the Sustainability Innovation Lab (SIL), in partnership with the IFRS Foundation as its Convening Partner. The SIL is being established to enable companies to meet their evolving sustainability disclosure requirements, fostering professional development, training, practical solutions and innovative thinking.
The SIL will bring together global and local partners to advance capabilities for reporting using the GRI Standards and the IFRS Sustainability Disclosure Standards. Given that 81% of listed companies in Asia-Pacific report with GRI, and the strong interest from the region in adopting the new International Sustainability Standards Board (ISSB) Standards, the SIL will be based in Singapore (where a launch event takes place on 20 November), and will be supported by offices throughout Asia, initially.
Through the SIL, representatives of GRI, the ISSB and other key stakeholders will collaborate to identify emerging sustainability disclosure topics, developing concepts, best practices and data-driven solutions. It will also provide capacity building within supply chains that are being asked to meet new information demands.
The goal of the SIL is to support stakeholders and all market participants on their disclosure journeys, guiding them to address disparities in sustainability reporting requirements while supporting the further harmonisation of the reporting landscape at the global level. It will seek to streamline the process for companies that report on a multi-stakeholder basis.