The world’s two largest corporate social responsibility initiatives forged an alliance to help build a universal standard on corporate sustainability and disclosure. The alliance hopes to transform business practices on a global scale.
Under the terms of the Memorandum of Understanding, GRI, which is subject to due process, will integrate the Global Compact’s 10 principles and issues in its next Sustainability Reporting Guidelines. Similarly, the Global Compact will use the GRI Guidelines as the recommended framework for companies to communicate on progress.
Together, the two initiatives hope to provide companies with clear direction to sustainable performance and transparency.
Read the specific commitments of the alliance here.