About The G3 and The Reporting Framework
The G3 is the so-called “Third Generation” of the GRI’s Sustainability Reporting Guidelines. It was launched in October 2006 at an international conference that attracted thousands.
There is a “third generation” because the GRI seeks to continually improve the Guidelines. The G3 builds on the G2 (released in 2002), which in turn is an evolution of the initial Guidelines, which was released in 2000.
The G3 Guidelines provides universal guidance for reporting on sustainability performance. This means it is applicable to small companies, large multinationals, public sector, NGOs and other types of organizations from all around the world. It is the way that the guidelines are created (through the multi-stakeholder, consensus seeking approach) that enables them to be so broadly applicable.
The G3 consists of principles and disclosure items (the latter includes performance indicators). The principles help reporters define the report content, the quality of the report, and give guidance on how to set the report boundary. Principles include those such as materiality, stakeholder inclusiveness, comparability and timeliness. Disclosure items include disclosures on management of issues, as well as performance indicators themselves (e.g. “total water withdrawal by source”).
The G3 is the base of the Reporting Framework. There are other elements such as Sector Supplements and National Annexes that respond to the needs of specific sectors, or national reporting requirements. The Reporting Framework (including the G3) is a free and public good.
Read more about this topic: Global Reporting Initiative
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