Four out of five of the world’s largest companies use the Global Reporting Initiative (GRI) in their sustainability reports, according to a survey by auditing firm KPMG.
In their report released on October 26, 78 percent of the 250 global companies (G250) use the GRI standard in their sustainability reporting, up from 73 percent in the previous survey in 2020.
About 68 percent of the larger pool of the top 100 companies (N100) in each of the 58 countries uses GRI, up from 67 percent last year when it had a smaller sample size.
The GRI provides the only reporting standards used by the majority of companies surveyed across all regions – 75 percent in the Americas, 68 percent in Asia Pacific and Europe, 62 percent in the Middle East and Africa.
“As more companies commit to globally recognized reporting standards to provide transparency on their impact, this important study from KPMG offers encouragement. If there was still any doubt, it is now absolutely clear that comparable sustainability reporting is – and will remain – widespread across countries and sectors,” said Eelco van derenden, CEO of GRI.
Overall, 96 percent of the G250, unchanged from 2020, and 79 percent of the N100, up from 77 percent in 2020, report on sustainability or ESG (environmental, social and governance).
According to the study, CO2 reduction is disclosed 80 percent by G250 and 71 percent by N100, but less than half reports on biodiversity.
Almost three quarters of those surveyed report on the 17 sustainability goals of the United Nations.
“What the survey does not yet reflect are new developments in the corporate reporting landscape, including new sustainability standards from the IFRS Foundation and the European Union. I can assure the GRI rapporteurs that we are playing an important bridging role between these two initiatives, which underscores the growing relevance of our standards,” said Lassen.
“A revised GRI Biodiversity Standard, to be introduced in 2023, will be a key driver for increased reporting on this important issue, which goes hand-in-hand with efforts to combat climate change.”