IFRS Foundation and GRI publish summary of interoperability considerations for GHG emissions

INSIGHT by the Global Reporting Initiative

The publication illustrates the areas of interoperability a company should consider when measuring and disclosing Scope 1, Scope 2 and Scope 3 greenhouse gas (GHG) emissions in accordance with both GRI 305: Emissions and IFRS S2 Climate-related Disclosures.

The requirements in GRI 305 and IFRS S2 demonstrate a high degree of alignment. For example, both draw on the GHG Protocol. The alignment means companies that already disclose Scope 1, 2 and 3 GHG emissions using the GRI Standards will be well positioned to report information about GHG emissions in accordance with IFRS S2. In addition to this, other GHG emissions disclosures can be aligned, depending on the choices a company makes in applying GRI 305 and IFRS S2.

The resource is the result of ongoing collaboration between the IFRS Foundation and GRI and aims to support more efficient reporting for companies using both the ISSB Standards and the GRI Standards.

In November 2023, GRI announced the launch of the Sustainability Innovation Lab (SIL) based in Singapore, in coordination with the IFRS Foundation. The SIL is bringing together global and local partners to advance capabilities for reporting using the GRI Standards and the IFRS Sustainability Disclosure Standards.

Since March 2022, GRI and the IFRS Foundation have worked together under a collaboration agreement that has sought to achieve coordination in their sustainability-related work programs and standard-setting activities.