The Global Reporting Initiative (GRI) announced the review of all of its standards relating to workers to support businesses in fostering better working environments and conditions in their operations and supply chains.
The GRI is an independent international organization that helps businesses and governments understand and report on the impacts of issues such as human rights, climate change and corruption. Its sustainability reporting standards are widely accepted globally.
Investors that use GRI’s standards for sustainability reporting will want to be aware of these changes and update their processes accordingly.
The GRI published the updates on these standards on 10 June 2024. Let's explore them in detail.
Updates to GRI worker rights standards
The updated GRI worker rights standards are fully aligned with key intergovernmental instruments for business and human rights, including those set by the International Labour Organization (ILO), the UN, and the Organization of Economic Co-operation and Development (OECD).
The review of worker rights standards is kicking off with three standards:
- GRI 402: Labor/Management Relations
- GRI 401: Employment
- GRI 202: Market Presence
Two further consultation stages for this worker rights standard project will take place over the coming 12 months: one for working life and career development and another for workers' rights and protections. Finally, a total of 11 GRI standards will be set, guided by due diligence and the human rights-based approach.
Furthermore, the updates to these standards will bring changes to:
- “employment” factors, including non-standard forms of employment
- Personal data protection and privacy
- “remuneration and working time” issues
- Hiring and turnover metrics
- Social protection coverage, as well as significant changes to worker status
- Redeployment, up-skilling, and reskilling
- Termination of employment
Next Steps
The GRI has also opened a panel to accept feedback from employees and companies. The global public comment period is underway until 4 October 2024 to seek feedback on redrafted versions of some standards. You can provide feedback on worker rights standards here.
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