GRI
GRI (Global Reporting Initiative) is the world's most widely used framework for a business to report how it affects the environment, society and the economy. The standard is voluntary and published by the independent organisation Global Reporting Initiative, established in 1997 and today based in Amsterdam. For property, GRI means that a property company can present energy use, greenhouse gas emissions, water consumption, waste and working conditions in a format that investors, banks and tenants recognise and can compare across companies and countries.
GRI builds on the principle of double materiality: the report should cover both how the outside world affects the company, and how the company affects the outside world. The standards are split into three. Universal standards apply to all (GRI 1, 2 and 3 on basic principles, general disclosures and material topics). Sector standards target industries with shared challenges. Topic standards cover individual topics such as emissions (GRI 305), energy (GRI 302) and water (GRI 303). A company selects the topic standards that are material to its business, and documents why.
GRI must be kept separate from the other abbreviations in the sustainability field. The EU taxonomy is a classification system for what counts as an environmentally sustainable activity, not a reporting framework. ESG (environmental, social, governance) is the collective term for the topics themselves. The new EU directive CSRD, with its associated ESRS standards, makes sustainability reporting a legal requirement for large companies in Europe, and it is aligned with GRI on several points, so a company that already reports under GRI has much of the groundwork in place. GRI covers the broad impact; tools such as CRREM and a greenhouse gas account deliver the technical figures that feed into it.
For Norwegian property, GRI is particularly relevant in two contexts. Institutional owners and funds use it to show their sustainability profile to the capital market, and the report often forms part of an ESG due diligence in transactions. At the same time, tenants, particularly public sector and listed ones, increasingly steer towards buildings that can document environmental performance, so GRI data is linked to certifications such as BREEAM-NOR and energy labelling. A building with weak documentation risks becoming less attractive over time and drifting towards becoming a stranded asset.
From Placepoint's dictionary: GRI
More information: Global Reporting Initiative, EU: Corporate Sustainability Reporting, Finanstilsynet
English: GRI (Global Reporting Initiative). The most widely used voluntary framework for sustainability reporting.
Frequently asked questions
What is GRI?
GRI (Global Reporting Initiative) is a voluntary, international framework for reporting a business's impact on the environment, society and the economy. In property, it is used to document energy use, greenhouse gas emissions, water and waste in a format that investors and banks can compare across companies.
What is the difference between GRI and the EU taxonomy?
The EU taxonomy is a classification system that defines what counts as an environmentally sustainable activity. GRI is a reporting framework for telling how the company actually performs. They are often used together: the taxonomy says what counts, GRI how it is reported.
Is GRI the same as CSRD?
No. CSRD is the EU directive that makes sustainability reporting a legal requirement for large companies, with ESRS as the standard. GRI is voluntary, but the two are largely aligned, so a company that reports under GRI has much of the groundwork for CSRD in place.
Why is GRI relevant for property?
Institutional owners use GRI to show their sustainability profile to the capital market, and the report often forms part of an ESG due diligence. Tenants increasingly ask for buildings with documented environmental performance, where GRI data is linked to BREEAM-NOR and energy labelling.