As discussed in the chapter opening vignette and on page 9 c

As discussed in the chapter opening vignette and on page 9, companies
are increasingly issuing reports on corporate social responsibility. Visit the Global Reporting
Initiative Web site (www.globalreporting.org) and answer the following questions.
a. What is the vision and mission of the Global Reporting Initiative?
b. What is a sustainability report? Explain the use of sustainability reports in integrated
reporting.
c. Explain the two “in accordance” GRI guideline reporting options. What is the GRI
guidance on assurance for “in accordance” reports?

Solution

a) Vision and mission statement of GRI is:-

Vision is:

To be a thriving global community that lifts humanity and enhances the resources on which all life depends.

Mission is:

To empower decisions that create social, environmental and economic benefits for everyone

b) A sustainability report is a report published by a company or organization about the economic, environmental and social impacts caused by its everyday activities. A sustainability report also presents the organization\'s values and governance model, and demonstrates the link between its strategy and its commitment to a sustainable global economy.

Sustainability reporting enables organizations to consider their impacts of wide range of sustainability issues, enabling them to be more transparent about the risks and opportunities they face

Sustainability reporting can help organizations to measure, understand and communicate their economic, environmental, social and governance performance, and then set goals, and manage change more effectively. A sustainability report is the key platform for communicating sustainability performance and impacts – whether positive or negative.

Sustainability reporting can be considered as synonymous with other terms for non-financial reporting; triple bottom line reporting, corporate social responsibility (CSR) reporting, and more. It is also an intrinsic element of integrated reporting; a more recent development that combines the analysis of financial and non-financial performance.

c) The Guidelines offer two options to an organization in order to prepare its sustainability report ‘in accordance’ with the Guidelines: the Core option and the Comprehensive option. Each option can be applied by all organizations, regardless of their size, sector or location.

The focus of both options is on the process of identifying material Aspects. Material Aspects are those that reflect the organization’s significant economic, environmental and social impacts; or substantively influence the assessments and decisions of stakeholders.

The Core option contains the essential elements of a sustainability report. The Core option provides the background against which an organization communicates the impacts of its economic, environmental and social and governance performance.
The Comprehensive option builds on the Core option by requiring additional Standard Disclosures of the organization’s strategy and analysis, governance, and ethics and integrity. In addition, the organization is required to communicate its performance more extensively by reporting all Indicators related to identified material Aspects.
An organization, whether it is a new or experienced reporter, has to choose the option that best meets its reporting needs and, ultimately, enables it to meet its stakeholders’ information needs.
The options do not relate to the quality of the report or to the performance of the organization. They reflect the compliance of the organization’s sustainability report with the Guidelines.