GRI
Global framework for sustainability impact reporting
SAMA CSF
Saudi framework for financial cybersecurity governance and maturity
Quick Verdict
GRI provides voluntary impact materiality reporting for global organizations, while SAMA CSF mandates cybersecurity maturity for Saudi financial firms. Companies adopt GRI for stakeholder transparency and SAMA CSF for regulatory compliance and resilience.
GRI
Global Reporting Initiative (GRI) Standards
Key Features
- Impacts-based materiality via structured GRI 3 process
- Modular architecture: Universal, Sector, Topic Standards
- Mandatory Content Index for traceability and verifiability
- Broad worker scope including contractors and supply chain
- Double materiality: impacts on economy, environment, people
SAMA CSF
SAMA Cyber Security Framework Version 1.0
Key Features
- Six-level maturity model with Level 3 minimum baseline
- Four core domains including third-party security
- Principle-based risk management for financial sector
- Board-level governance and CISO requirements
- Self-assessment and SAMA audit compliance
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
GRI Details
What It Is
Global Reporting Initiative (GRI) Standards is a modular sustainability reporting framework providing a global common language for disclosing impacts on economy, environment, and people. Its primary purpose is impact-centric accountability through **double materialityassessing organization impacts and financial effects. Key approach: structured four-step materiality process in GRI 3.
Key Components
- Universal Standards (GRI 1 Foundation, GRI 2 General Disclosures, GRI 3 Material Topics) for baseline requirements.
- Sector Standards for high-impact industries like oil & gas, mining.
- Topic Standards (e.g., GRI 403 Occupational Health & Safety, GRI 308 Supplier Assessment) with specific disclosures.
- Core principles: accuracy, balance, verifiability; mandatory Content Index for traceability; no certification, but assurance encouraged.
Why Organizations Use It
Drives regulatory alignment (e.g., EU CSRD), risk management via value-chain due diligence, benchmarking, and stakeholder trust. Enhances credibility, capital access, operational efficiency; used by 73% of G250 firms.
Implementation Overview
Phased: gap analysis, materiality assessment, data systems, reporting with Content Index. Applies to all sizes/industries globally; involves cross-functional teams, ESG platforms; prepares for external assurance.
SAMA CSF Details
What It Is
The Saudi Arabian Monetary Authority Cyber Security Framework (SAMA CSF), Version 1.0 (May 2017), is a mandatory regulatory framework for SAMA-regulated financial institutions in Saudi Arabia. It provides a principle-based, outcome-oriented blueprint to govern cybersecurity, ensuring detection, resistance, response, and recovery from threats. Its risk-based approach uses a maturity model across domains.
Key Components
- Four main domains: Cyber Security Leadership and Governance, Risk Management and Compliance, Operations and Technology, Third-Party Cyber Security.
- Numerous subdomains with principles, objectives, and control considerations (114+ subcontrols).
- Six-level maturity model (Level 0-5; minimum Level 3 required).
- Aligned with NIST, ISO 27001, PCI-DSS; self-assessment and SAMA audits for compliance.
Why Organizations Use It
- Mandatory for banks, insurers, finance firms to avoid penalties, audits, fines.
- Enhances resilience, reduces incidents, supports Vision 2030 digital growth.
- Builds trust, enables partnerships, lowers insurance costs, competitive edge.
Implementation Overview
- Phased: initiation, gap analysis, design, deployment, operations, improvement.
- Involves governance setup, risk assessments, control deployment, training.
- Targets Saudi financial sector; scalable by size; periodic self-assessments, no external certification.
Key Differences
| Aspect | GRI | SAMA CSF |
|---|---|---|
| Scope | Sustainability impacts on economy, environment, people | Cybersecurity controls for financial information assets |
| Industry | All sectors worldwide, any organization size | Saudi financial institutions only (banks, insurance) |
| Nature | Voluntary global reporting standards | Mandatory regulatory framework for compliance |
| Testing | Self-assurance, content index, external verification optional | Periodic self-assessments, SAMA audits required |
| Penalties | No legal penalties, loss of credibility | Fines, license suspension, regulatory enforcement |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about GRI and SAMA CSF
GRI FAQ
SAMA CSF FAQ
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