XBRL International Inc.

12/10/2023 | News release | Distributed by Public on 12/10/2023 13:28

EFRAG and GRI launch Interoperability Index

Posted on December 10, 2023 by Editor

EFRAG and GRI have solidified their ongoing collaboration with a new Memorandum of Understanding (MoU), helping bring clarity to the alignment between the European Sustainability Reporting Standards (ESRS) and the GRI Standards. The MoU emphasizes technical support for reporting companies, aiming to deliver transparent and comparable sustainability information.

Interoperability in sustainability reporting is vital for streamlining reporting processes, reducing burdens on entities, and enhancing global comparability.

EFRAG and GRI's collaboration has led to the recent publication of the GRI-ESRS Interoperability Index, now publicly available. Submitted for approval to EFRAG standard-setting bodies, the tool showcases the alignment of disclosure requirements and datapoints in both standards.

During their ongoing collaboration the two organisations plan to work together on standards development, education, and interoperability of digital XBRL taxonomies. Both emphasise the principles of quality data, standardised information for stakeholders, and optimal interoperability to minimise reporting burdens.

Hans Buysse, President of EFRAG Administrative Board, expressed enthusiasm for the continued technical cooperation, highlighting the exemplary relationship with GRI. Eelco van der Enden, CEO of GRI, affirmed their commitment to an aligned global ecosystem for impact reporting. The interoperability index demonstrates a useful degree of alignment achieved between GRI and ESRS standards - something that we hope to see more widely in various sustainability reporting mandates around the world.

For more details, see here.