GRI Enables Quality Corporate Insights Into SDGs Progress

August 22, 2024 /3BL/ - An updated online database, Business reporting on the SDGs: An analysis of the Goals and Targets, was made available today to improve business reporting on the SDGs, featuring a comprehensive inventory of potential disclosures at the targets level for each of the Sustainable Development Goals (SDGs).

The database was first launched in 2017 by the Global Reporting Initiative (GRI) and the UN Global Compact to effectively integrate the SDGs into existing reporting processes, and to demonstrate their impact and contributions to sustainable development through high-quality, consistent and comparable data. With a redesigned, user-friendly interface, it is primarily addressed to businesses, as well as to policymakers, investors, NGOs and researchers.

The online, freely-accessible database now includes:

• A wide range of disclosures, based on recognized international frameworks and standards, such as the GRI Standards;
• New research options, allowing easy access and comparability of information and disclosures; and
• Regular revisions, ensuring up-to-date information.

The provision of this reporting tool reflects the urgent need for more progress on global challenges, such as climate change, pollution and rising inequalities. While companies are increasingly engaging with the SDGs, voluntary and fragmented reporting practices can lead to incomplete data. This initiative supports a standardized approach to reporting, to better align business practices with the Global Goals.

Peter Paul van de Wijs, Chief Policy Officer at GRI said:

"In a time of pressing global challenges, the role of the private sector in contributing to the SDGs cannot be overstated. Reporting practices are often non-mandatory and inconsistent, hindering our ability to comprehensively assess and address the most pressing sustainability issues. Through improved quality and comparability of data, the updated Analysis of Goals and Targets supports reporters in leveraging their existing reporting processes and tools to effectively demonstrate their impacts and contributions to the SDGs."

Tonilyn Lim, Chief of Programmes at the United Nations Global Compact added:

"Unlocking quality corporate insights into SDGs progress is crucial for driving meaningful change. This updated analysis tool on the SDGs and underlying targets enables businesses to improve their reporting on the Global Goals. By offering a comprehensive inventory of potential disclosures for each SDG, we aim to standardize and elevate the quality of data, fostering greater transparency and accountability. This tool is not just about reporting; it is about equipping businesses to make a tangible impact on global challenges."

The Analysis of Goals and Targets was presented on 11 July during the webinar Business Reporting on the SDGs: A State of Play and Future Directions, co-organized by GRI and UN Global Compact, as a side event of the 2024 UN High-Level Political Forum on Sustainable Development.

This session brought together over 770 participants to discuss the latest developments in the sustainability reporting landscape and their implications for reporting on the SDGs. Discussions included the need for enhanced public policies to incentivize and scale up business action on the Global Goals.

GRI and the UN Global Compact acknowledge the support provided to the 'Analysis of the Goals and Targets' online database by the Swedish International Development Cooperation Agency (Sida).