What It Is

GRI Sustainability Reporting Standards is a voluntary, modular framework for disclosing organizational impacts on economy, environment, and people. Its primary purpose is impact-centric sustainability reporting via standardized disclosures. Key approach: double materiality assessing actual/potential impacts and financial relevance.

Key Components

• Universal Standards (GRI 1 Foundation, GRI 2 General Disclosures, GRI 3 Material Topics) for baseline requirements.
• Topic Standards (e.g., GRI 403 Occupational Health & Safety, GRI 308 Supplier Environmental Assessment) for specific metrics.
• Sector Standards for high-impact industries.
• Built on principles like accuracy, balance, verifiability; requires GRI Content Index; no certification, but assurance encouraged.

Why Organizations Use It

Drives accountability, regulatory alignment (e.g., CSRD), risk management, benchmarking. Builds stakeholder trust, enables investor comparability via SASB interoperability, reduces greenwashing risks.

Implementation Overview

Phased: materiality assessment, data systems, management disclosures, Content Index. Applies universally; cross-functional teams needed for data governance, supplier engagement; external assurance maturing.

What It Is

NERC CIP (North American Electric Reliability Corporation Critical Infrastructure Protection) comprises mandatory Reliability Standards for cybersecurity and physical security of the Bulk Electric System (BES). It uses a risk-based, tiered model categorizing BES Cyber Systems as High, Medium, or Low impact to apply proportional controls.

Key Components

• 13 standards (CIP-002 to CIP-014) spanning asset identification, governance, personnel training, perimeters, system hardening, incident response, recovery, configuration management, supply chain risk.
• Dozens of requirements with recurring cycles (e.g., 15-month reviews, 35-day patching).
• Emphasizes auditable evidence and CIP Senior Manager accountability.
• Enforced compliance model via audits, no certification.

Why Organizations Use It

• Legal requirement for BES entities under FERC enforcement with multimillion-dollar penalties.
• Prevents grid misoperation from cyber threats.
• Boosts resilience, operational efficiency, insurance benefits.
• Enhances regulatory standing and stakeholder trust.

Implementation Overview

• Phased approach: scoping (CIP-002), policy development, technical controls, testing, audits.
• Targets North American utilities, generators, operators.
• Involves annual NERC/Regional Entity audits and evidence retention.