SocialFunds.com reported on December 31, 2010 that the Global Reporting Initiative (GRI) and the Organization for Cooperation and Development (OECD) will partner to improve sustainability reporting by multinational companies.
A Memo of Understanding (MoU) signed by both organizations establishes a three-year partnership to encourage the use of OECD’s Guidelines for Multinational Enterprises and GRI’s Sustainability Reporting Framework in their reporting processes.
The GRI process is the most widely used sustainability reporting framework in the world, and OECD’s Guidelines consists of recommendations by the organization’s 42 members countries and covers all major aspects of business ethics. GRI is in the process of updating its reporting framework to include industry-specific Sector Supplements for 15 industries.
Do you think this is a worthwhile partnership, and will it increase the use of their respective reporting frameworks globally? Discuss!
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