The Global Reporting Initiative (GRI) Standards remain the world's most widely used framework for sustainability reporting. The GRI 2021 Universal Standards — comprising GRI 1 (Foundation), GRI 2 (General Disclosures), and GRI 3 (Material Topics) — introduced significant structural changes that Indian companies reporting under GRI must now follow.
📌 Key change: GRI 2021 replaced the previous GRI 101/102/103 Standards and introduced mandatory double materiality assessment through GRI 3.
The Three Universal Standards
GRI 1: Foundation 2021
Sets out the purpose, system, and requirements for using GRI Standards. It establishes the Reporting Principles: accuracy, balance, clarity, comparability, completeness, sustainability context, timeliness, and verifiability.
GRI 2: General Disclosures 2021
Covers organisational profile, governance, strategy, policies, and stakeholder engagement. GRI 2-1 through GRI 2-30 replace the old GRI 102 disclosures, with new emphasis on governance of sustainability topics and approach to human rights.
GRI 3: Material Topics 2021
Introduces a three-step materiality assessment process: identify actual and potential impacts, assess significance of impacts, and determine material topics. This mirrors the EU's double materiality concept — impacts both on the environment/society and on the company's financial performance.
Topic-Specific Standards Most Relevant to Indian Industries
- GRI 302: Energy — consumption, intensity, reduction initiatives
- GRI 303: Water and Effluents — withdrawal, consumption, discharge
- GRI 305: Emissions — Scope 1, 2, 3 GHG; air pollutants
- GRI 306: Waste — generation, diversion, disposal
- GRI 403: Occupational Health and Safety
- GRI 404: Training and Education
- GRI 405: Diversity and Equal Opportunity
- GRI 408/409: Child Labour and Forced Labour
- GRI 413: Local Communities
Step-by-Step Alignment Process
- Confirm your reporting period and boundary (legal entities, geographies)
- Conduct stakeholder identification and engagement
- Complete a double materiality assessment — identify your top 10–15 material topics
- Map material topics to relevant GRI Topic Standards
- Collect quantitative data for all applicable disclosures across all facilities
- Draft the report and seek internal review from leadership
- Engage a third-party assurance provider (AA1000AS or ISAE 3000)
- Publish the GRI Content Index clearly identifying each disclosure
💡 BEC Tip: Indian companies reporting under both BRSR and GRI can achieve significant data collection efficiency by mapping the two frameworks together — most BRSR Core KPIs align directly with GRI 302, 303, 305, and 306 disclosures.
Conclusion
GRI 2021 raises the bar for ESG reporting quality, particularly through its strengthened materiality assessment requirements. Indian companies that invest in rigorous materiality processes and systematic data collection will produce more credible, decision-useful sustainability reports that meet both domestic and international stakeholder expectations.
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