Origin:It was co-sponsored by CERES (Environmental Economy Alliance) and UNEP (United Nations Environment Program) in 1997 and became an independent member organization of the United Nations in 2002.
Covering 90+ countries, 92% of the world's top 250 companies publish sustainability reports
82% of the world's top 250 companies adopt GRI standards (2020 KPMG data)
ESG guidelines for 96% of global stock exchanges cite GRI standards (2024 SSE data)
Highly recognized by international authoritative institutions such as the World Business Council for Sustainable Development (WBCSD) and former United Nations Secretary-General Annan
| version | release time | Core changes and industry impact |
|---|---|---|
| G1 | Year 2000 | The first globally common framework was adopted by 50 institutions in the first batch, laying the foundation for the industry |
| G3 | 2006 | Establish a triple bottom-line structure of economy, environment and society and promote standardized disclosure by multinational enterprises |
| G4 Chinese version | 2014 | Release a Chinese version to expand the China market and increase supply chain disclosure requirements |
| GRI Standards | 2016 | Modular reconstruction (general standards + issue standards), fully replacing G4 in 2018 |
| 2021 edition | 2021 | Introduce dual substantive + industry standards, mandatory effective in 2023, reshaping the ESG disclosure paradigm |
General standards:
GRI 1 Basics:Mandatory concepts such as "dual materiality" and "due diligence" have been added to require companies to analyze the impact of decisions on sustainable development
GRI 2 General Disclosure:Reorganized into 5 modules (Organization and Reporting Practices, Activities and Employees, Governance, Strategic Policies and Practices, and Stakeholder Participation), with new human rights policy disclosures
GRI 3 Substantive Issues:Require clarification on how issue identification integrates due diligence results and reporting changes to the substantive issue list
Industry standards:Force companies to identify issues with reference to their industry standards
| Industry standard | Serial number | Examples of key topics |
|---|---|---|
| Petroleum and natural gas | GRI 11 | Greenhouse gas emissions, indigenous rights, asset integrity management, payments to governments |
| Coal | GRI 12 | Ecological restoration of Kuangqu mining area, risk of child labor, closure and restoration, land resource rights |
| Agriculture and fishery | GRI 13 | Pesticide use, animal welfare, supply chain traceability, living income security |
| mining industry | GRI 14 | Tailings pond security, conflict minerals, indigenous rights, artisanal mining management |
Definition:In 2019, the European Union first proposed in the "Climate-Related Information Disclosure Supplement" to require simultaneous disclosure:
Financial materiality:The impact of ESG risks on corporate finances (e.g. carbon tariffs increase operating costs, asset impairment caused by climate policies)
Substantive impact:The reverse impact of corporate activities on the economy/environment/society (e.g. pollution damage to community health, resource extraction damage to ecology)
GRI practical requirements:Energy companies need to disclose both "asset impairment caused by climate policies"(financial side) and quantitatively disclose "the extent of damage to biodiversity caused by drilling operations"(impact side)
Disclosure of new items:
Human Rights Policy Commitments (GRI 2-22)
Human Rights Due Diligence Process (GRI 3-1)
Effectiveness of complaint mechanism (GRI 2-27)
Integrate the United Nations Guiding Principles on Business and Human Rights and the OECD Guidelines for Multinational Enterprises
| GRI Standards 2016 | GRI Standards 2021 | Change analysis |
|---|---|---|
| Stakeholder inclusiveness | delete | Integrate into the substantive issue identification process |
| Reliability (Reliability) | Verificability | Highlight external audit requirements |
| - | newIntegrity | Require coverage of all significant impacts |
Obsolete standards:
GRI 307(Environmental Compliance) → merged into GRI 2-27"Legal and Regulatory Compliance"
GRI 412(Human Rights Assessment) → Integration into Common Standard Human Rights Disclosure
GRI 419(Socio-Economic Compliance) → Completely cancelled
Industry standard priority:High-risk industries such as energy, mining, and agriculture must take the lead in adopting corresponding industry standards
| standard system | dominant party | core concept | Target audience |
|---|---|---|---|
| GRI | Diverse stakeholders | Impact materiality | Enterprise/Government/NGO/Public |
| ISSB | IFRS Foundation | Financial materiality | Investors/financial institutions |
| ESRS | European Commission | dual substantiality | EU-listed companies |
ISSB position:Only disclosure of ESG risks to corporate value (single material nature), such as asset impairment due to climate risks, is required
"Stakeholder capitalism that is not based on dual materiality is meaningless" - GRI official statement
Typical case conflicts:
ISSB Framework:Chemical plants only need to disclose the amount of pollution fines and the impact of stock prices
GRI Framework:Residents 'health damage data, ecological restoration costs and community compensation plans must be additionally disclosed
Industry benchmarking:Energy companies immediately adopted GRI 11(Oil and Gas), mining companies adopted GRI 14
Human rights management:Establish a due diligence system covering the supply chain to match GRI 2-22 disclosure requirements
Double analysis:Use the "Impact Map" tool to quantify financial and impact materiality, and set up a KPI tracking system
Data Governance:Establish an ESG data collection system to ensure verifiability (new principles in the 2021 edition)
Report identification:Check whether companies disclose two-way impacts (missing impacts and material disclosures may pose reputational risks)
Risk warning:Focus on coal (GRI 12) and textile (under development) enterprises that have not adopted industry standards
Evaluation framework:Incorporate dual materiality into the ESG rating model and increase the weight of impact materiality
Localization in China:Pilot mandatory disclosure in coal (GRI 12), agriculture (GRI 13) and other industries
Regulatory integration:Refer to the EU ESRS and incorporate dual materiality into the disclosure regulatory requirements for listed companies
Standard connection:Establish a comparison system between GRI industry standards and domestic ESG guidelines
Conclusion:GRI 2021 has reshaped the ESG disclosure paradigm through three major breakthroughs: dual substantiality, industry standards, and human rights strengthening. Enterprises need to shift from "risk avoidance" to "impact management" and establish a quantifiable balance system between financial performance and social responsibility. As the EU ESRS adopts a dual substantive framework, the GRI standard will continue to maintain its status as the gold standard for global ESG disclosures.
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