What It Is

Global Reporting Initiative (GRI) Standards is a voluntary modular framework for sustainability reporting. It provides a global common language for organizations to disclose significant economic, environmental, and social impacts. Primary purpose: enable impact-centric double materiality—prioritizing actual/potential effects on stakeholders over financial materiality alone. Key approach: structured materiality process via GRI 3.

Key Components

• Universal Standards (GRI 1 Foundation, GRI 2 General Disclosures, GRI 3 Material Topics) as baseline.
• Topic Standards (e.g., GRI 403 Occupational Health & Safety, GRI 308 Supplier Environmental Assessment) for specific disclosures.
• Sector Standards for high-impact industries like Oil & Gas, Mining.
• Core principles: accuracy, balance, verifiability; mandatory GRI Content Index for compliance.

Why Organizations Use It

Drives accountability, regulatory alignment (e.g., EU CSRD), risk management in HES/supply chains. Builds stakeholder trust, enables benchmarking, supports investor integration (GRI-SASB). Enhances reputation, reduces greenwashing risks.

Implementation Overview

Phased: materiality assessment, data architecture, Topic disclosures, Content Index. Applies universally; no certification but assurance recommended. Involves governance oversight, cross-functional teams, ESG platforms.

What It Is

ISO 22301:2019 is the international standard titled "Security and resilience — Business continuity management systems — Requirements." It is a certifiable framework for organizations to establish, implement, maintain, and continually improve a Business Continuity Management System (BCMS). The primary purpose is building resilience against disruptions like cyberattacks, pandemics, and natural disasters through a risk-based PDCA (Plan-Do-Check-Act) cycle.

Key Components

The standard features 10 clauses aligned with Annex SL high-level structure. Core pillars include understanding organizational context (Clause 4), leadership commitment (Clause 5), planning with Business Impact Analysis (BIA) and risk assessment (Clause 6), operational controls and testing (Clause 8), performance evaluation via audits (Clause 9), and continual improvement (Clause 10). It has no fixed controls, offering flexibility, with certification valid for 3 years plus annual surveillance.

Why Organizations Use It

Organizations adopt it to minimize downtime, reduce financial losses, ensure regulatory compliance (e.g., EU NIS Directive), and enhance stakeholder trust. It provides competitive edges like procurement advantages, lower insurance premiums, and integration with ISO 27001 for holistic resilience.

Implementation Overview

Implementation involves gap analysis, BIA, policy development, training, testing, and audits—typically 60 days to 6 months. Applicable to all sizes and sectors globally, it requires a two-stage certification process by accredited bodies.