What the New GRI Standards Mean for Your Reporting
July 2, 2025
With the end of the financial year behind us, many companies are now turning their attention to mandatory climate reporting. As we highlighted earlier this year, the new AASB Climate Standards are now in effect, requiring disclosure of climate-related risks, opportunities, and emissions.
In this context, the recent release of the Global Reporting Initiative (GRI) standards – GRI 102: Climate Change and GRI 103: Energy is particularly timely.
| GRI 102 sets out requirements for organisations to disclose information about their: – climate-related impacts and how they are managing those impacts – how transition plans impact workers, communities, and Indigenous Peoples – Scope 1, 2, and 3 greenhouse gas (GHG) emissions and targets for GHG reduction | GRI 103 set out requirements for organisations to disclose information about their: – energy-related impacts including energy consumption, generation, and reduction – renewable energy use and efforts towards decarbonisation – initiatives related to energy efficiency and waste management |
Why This Matters?
These updated GRI standards offer:
- A comprehensive and structured reporting approach, aligned with the AASB, ISSB, and GHG Protocol, enabling organisations to reduce duplication across frameworks.
- A strong emphasis on just transition, strengthening the social dimensions of climate reporting and complementing the investor-focused approach of the AASB standards.
While not mandatory, GRI serves as a valuable reference framework for organisations aiming to enhance transparency, meet stakeholder expectations, and build disclosures that align with international standards.
At Cress, we have broad expertise in climate risk assessment and sustainability reporting. Whether you are reporting for the first time under the AASB standards or looking to strengthen your sustainability disclosures using GRI, we are here to support you. Contact Cress Consulting today.
