The Global Reporting Initiative (GRI) recently launched a new review of all of its labour-related standards which are aimed at enabling companies to report on their impacts on workers and improving transparency on workplace labour and human rights.
GRI Sustainability Reporting Standards are one of the most commonly accepted global standards for sustainability reporting by companies, developed to enable consistent reporting across companies and industries, providing clearer communication regarding sustainability matters to a broad range of stakeholders, including investors.
The GRI’s review is kicking off with a consultation on redrafted versions of three standards: GRI 402: Labor/Management Relations, GRI 401: Employment, and GRI 202: Market Presence. The proposed new and revised disclosures relate to employment factors which include non-standard forms of employment, personal data protection and privacy, and hiring and turnover metrics. The disclosures relate also to remuneration and working time issues such as policies and metrics of cost-of-living estimates, basic gender pay gap, social protection coverage. Lastly, the disclosures related to significant changes for workers, covering consultation and notice periods to workers’ representatives, redeployment and up-skilling and re-skilling and termination of employment.
The process to develop the redrafted version of the standards was guided by an expert group with workers represented through the International Trade Union Confederation and Global Unions Federations, employers through the International Organization of Employers, and the International Labour Organization (ILO). The process will ensure that the GRI Labor Standards are fully aligned with key intergovernmental instruments for business and human rights, including those set by the ILO, the UN and the Organisation for Economic Co-operation and Development (OECD).
Two further consultations will take place over the next 12 months for reporting on working life and career development, and workers’ rights and protections, with updates to 11 GRI standards to be made in total.