The Global Reporting Initiative (GRI) has announced the launch of a comprehensive review of all its labor-related standards, with the aim of enhancing companies’ ability to report on their impacts on workers and increasing transparency regarding workplace labor practices and human rights.
The GRI’s Sustainability Reporting Standards are widely recognized as one of the most accepted global frameworks for corporate sustainability reporting, designed to ensure consistent reporting across various industries and provide clear communication on sustainability issues to a wide range of stakeholders, including investors. These standards are developed by the Global Sustainability Standards Board (GSSB).
The review process is starting with a consultation on revised drafts of three specific standards: “GRI 402: Labor/Management Relations,” “GRI 401: Employment,” and “GRI 202: Market Presence.” The proposed new and updated disclosures focus on employment aspects such as non-standard employment types, data protection and privacy, and metrics for hiring and turnover. They also address “remuneration and working time” issues, including policies on cost-of-living assessments, basic gender pay gap, and social protection coverage, as well as “significant changes for workers,” encompassing consultation periods, worker retraining, and employment termination protocols.
The GRI stated that the process of revising these standards was guided by an expert group, which included representatives from the International Trade Union Confederation and Global Union Federations, employers from the International Organization of Employers, and the International Labour Organization (ILO). The GRI emphasized that this approach ensures that the new labor standards are aligned with key international frameworks for business and human rights, including those established by the ILO, the United Nations, and the Organisation for Economic Co-operation and Development (OECD).
Additionally, the GRI announced that there will be two more consultations over the next 12 months focusing on reporting related to working life and career development, as well as workers’ rights and protections. In total, updates will be made to 11 GRI standards.