Established in 1997 by the Coalition for Environmentally Responsible Economics (CERES), the Global Reporting Initiative (GRI) provides guidelines which are globally applicable for reporting on the economic, environmental and social performance of any organization. It offers tools to enable companies to make sustainability reporting as routine as financial reporting. These standards are updated regularly, and provide a set of best practices for companies to use when reporting publicly on their organization’s positive and negative economic, environmental, and social performance.
Because of procurement’s knowledge of the supply chain, that department is often responsible for gathering information for corporate sustainability reporting. Benefits of sustainability reporting include: