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International customary for biodiversity impacts strikes a step nearer

Judy Kuszewski is Chair of the International Sustainability Requirements Board (GSSB), which is chargeable for setting the GRI Requirements.

A proposed reporting customary that seeks to unlock accountability for the impacts organizations have on the pure world, informing the worldwide response to a deepening biodiversity disaster, has been made out there.

A public remark interval for the publicity draft of the revised GRI Biodiversity Customary is underway, with suggestions sought in order that the ultimate customary delivers the worldwide finest apply for transparency on biodiversity impacts.

With the UN Conference on Biodiversity (COP15) beginning in Montreal on 7 December – the place international locations will negotiate a brand new biodiversity motion plan – the timing couldn’t be extra vital. In the meantime, the Intergovernmental Science-Coverage Platform on Biodiversity and Ecosystem Providers (IPBES) has warned that biodiversity is declining in each world area.

What this context underlines is that corporations face enormous calls for, from a number of stakeholders, to do extra to evaluate, disclose and scale back their biodiversity impacts. The publicity draft responds to those pressures, constructing on the most recent authoritative insights and extensively revamping the 2016 Customary (GRI 304). It proposes modifications that:

  • Mirror reporting all through the provision chain, given many biodiversity impacts are discovered past the scope of an organization’s personal operations;
  • Assist organizations prioritize consideration on their most important impacts, recognizing the problem of scale in addressing biodiversity impacts;
  • Add new disclosures to attach with the drivers of biodiversity loss, together with local weather change, air pollution, and overexploitation of assets;
  • Introduce necessities for biodiversity-related human rights impacts, corresponding to these on indigenous peoples, native communities and staff;
  • Emphasize location-specific knowledge, to make sure companies are clear in regards to the websites the place their biodiversity impacts happen.

Judy Kuszewski, Chair of the International Sustainability Requirements Board (GSSB) – which is chargeable for setting the GRI Requirements – mentioned:

It’s abundantly clear that biodiversity is beneath siege, with human exercise the main trigger. The impacts of biodiversity loss are instantly undermining the sustainable improvement agenda and, if it continues unabated, could have disastrous penalties – on the surroundings, the economic system and other people.

In opposition to this backdrop, and on the eve of the UN Biodiversity COP, I’m happy that our proposal for a serious replace to the GRI Biodiversity Matter Customary is offered for public remark. The revision course of has seen an unprecedented stage of collaboration with main consultants, in order that the ultimate Customary can present the internationally accepted finest apply for transparency on biodiversity impacts.

I encourage all stakeholders and events to take part on this session, as a result of we’d like a typical that would be the world focus for accountability on biodiversity impacts. Improved reporting – throughout sectors, areas and provide chains – is essential for addressing info gaps and informing world options.”

The revision course of noticed in depth engagement with different biodiversity frameworks and initiatives, to align the GRI Customary with new developments within the area. IPBES, CDP, the Align challenge, Partnership for Biodiversity Accounting Financials, and the Accountability Framework had been all represented on the technical committee that led the assessment, whereas the draft was formed by enter from the Science Based mostly Goal Community (SBTN), Taskforce on Nature-related Monetary Disclosures (TNFD), and WBA Nature Benchmark.

The publicity draft is open for public remark till 28 February 2023, after which the submitted suggestions shall be thought-about forward of an anticipated publication date for the ultimate Customary within the second half of subsequent yr.

On 15 December, webinars happen the place stakeholders can be taught extra about what’s included within the draft Customary. Locations may be booked now, at 09:00 (CET) or 17:00 (CET).

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