GRI, EFRAG Offer CSRD Interoperability Tool

A new interoperability index has been released to help entities reporting under Europe’s Corporate Sustainability Reporting Directive (CSRD) to understand the common requirements of voluntary and mandatory reporting frameworks regarding impact. The index is a collaboration by the Global Reporting Initiative (GRI), the independent voluntary sustainability reporting standards provider, and EFRAG, which provides technical advice to the European Commission on financial and sustainability reporting. It follows the organisations’ work jointly developing CSRD’s European Sustainability Reporting Standards and is the first fruit of a renewed memorandum of understanding (MoU) between the two. The new tool sets out how the disclosure requirements and datapoints in each set of standards relate to each other, emphasising their high degree of commonality and laying down “solid foundations” for a reciprocal digital taxonomy. Entities reporting under ESRS will be deemed reporting with reference to the GRI standards and existing GRI reporters will be able to leverage their current reporting efforts to prepare their ESRS ‘Sustainability statement’. The MoU will also support further collaboration between GRI and EFRAG on standards and guidance development, including existing and new sector standards; proportionate reporting for SMEs in the EU; and standards for non-EU companies for which the CSRD will apply.


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