GRI urges EU to recognise global reporting

Global Reporting Initiative (GRI) has called on EFRAG to let non-EU companies use existing sustainability disclosures to comply with proposed EU impact-reporting rules.

In its response to the consultation on draft ESRS-40a, GRI says assured GRI reporting should count towards compliance, reducing duplication for companies with significant EU activities.

GRI says its Standards cover 97% of ESRS-40a disclosure requirements, in whole or part, and 79% of data points. Most likely in-scope companies already report using GRI, including 84% in China and 77% in Japan.

The draft standard, open for consultation until 31st October, covers impacts on people and the environment and would apply from financial years starting on or after 1st January 2028.

GRI CEO Robin Hodess said: “Let’s ensure that ESRS-40a strengthens corporate transparency in ways that are practical and effective.”

Susanne Stormer, chair of GRI’s Global Sustainability Standards Board, said recognising assured GRI disclosures would “turn this interoperability into practice”.