GRI and EFRAG partner for interoperability index

6 December 2023

Elizabeth Pfeuti

The Global Reporting Initiative (GRI) and European Financial Reporting Advisory Group (EFRAG) have partnered to launch the GRI-ESRS Interoperability Index, guidance on how to align both group’s standards.
EU regulation

GRI and EFRAG partner for interoperability index 

December 6th, 2023

The Global Reporting Initiative (GRI) and the European Financial Reporting Advisory Group (EFRAG) have partnered to launch the GRI-ESRS Interoperability Index, which gives guidance on how to align both group’s standards.

The index sets out how the GRI’s reporting requirements and the European Sustainability Reporting Standards (ESRS) relate to each other, emphasising the high degree of commonality.

Interoperability reduces the reporting burden on companies and results in a user-friendly reporting system.

Entities reporting under ESRS will be deemed reporting ‘with reference’ to the GRI standards and existing GRI reporters will be able to leverage their current reporting efforts to prepare their ESRS sustainability statement.

The organisations announced their respective impact reporting standards could be used collaboratively in September and have signed a new Memorandum of Understanding (MoU), “which substantiates the benefits of the alignment achieved between the standards”.

The MoU also sets out further areas for collaboration, including further development of guidance on existing and new sector standards, proportionate reporting for SMEs in the EU – standards for non-EU companies for which the CSRD will apply.

The organisations have decided to implement three common principles in line with their joint interoperability statement.

The first principle states that companies benefit from reporting publicly on their management efforts in relation to their positive and negative impacts.

The second states that all stakeholders, including investors, will benefit from standardised, credible, and comparable information on impacts.

The third principle states optimal interoperability between global and European sustainability reporting standards is in the interests of companies and other organisations to minimise the reporting burden.

Hans Buysse, president of EFRAG administrative board, said: “As a multistakeholder organisation, tasked with the elaboration of sustainability reporting standards as technical advice to the European Commission, EFRAG welcomes the fruitful dialogue with other standard setting organisations or initiatives.”

Eelco van der Enden, chief executive of GRI, said: “Encompassing practical resources and training alongside deeper engagement on standards, this new MoU reassures companies and all stakeholders of our joint commitment to an aligned, efficient, and feasible EU and global ecosystem for impact reporting.”

Latest News

SHareholder meeting

ICCR, Ceres challenge Kentucky proxy advisor law

SHareholder meeting

Japan,Thailand and Brazil seek to expand sustainability information available to investors

SHareholder meeting

SEC 2027 examination priorities put fresh focus on proxy advisor oversight

SHareholder meeting

Saba’s Baillie Gifford board challenge falls short, but pressure on trusts likely to persist

SHareholder meeting

ICCR urges investors to encourage company support against Rule 14a-8 rescission proposal

SHareholder meeting

Fifteen financial institutions push ISSB towards dedicated Nature Standard

Featured Briefings

Minerva Briefing

2026 United States of America Proxy Season Review

Minerva Briefing

US SEC Rule 14a-8 Rescission Proposal

Minerva Briefing

2026 Global Proxy Season Review

Minerva is a global provider of sustainable stewardship solutions with over 30 years of expertise. Minerva empowers investors by providing essential tools, including ESG research and data and expert insights, enabling them to navigate the intricate and ever-evolving landscape of stewardship and proxy voting, whilst ensuring their decisions are well-informed and aligned with sustainable principles.

Related Stories

ESMA's Transition and Impact Claims Guidance

ESMA's Transition and Impact Claims Guidance: Lessons for SFDR II

October 23, 2026
Read More
ESMA ratchets up greenwashing scrutiny

ESMA ratchets up greenwashing scrutiny – stewardship claims now in scope

October 14, 2026
Read More

FCA opts for comply-or-explain climate disclosures in retreat from mandatory reporting

October 2, 2026
Read More

Sustainability reporting requirements boost climate-related financial disclosures, ASIC says

September 23, 2026
Read More
UK Corporate Reporting

Accountability versus allocation: Who is corporate reporting for?

September 11, 2026
Read More
Shein lists in Hong Kong at reduced valuation after protracted IPO journey

Shein lists in Hong Kong at reduced valuation after protracted IPO journey

September 2, 2026
Read More