On 25 January 2024, GRI published a new topic standard GRI 101: Biodiversity 2024, which replaces GRI 304: Biodiversity 2016.
One might ask why the numbering of the standard changed after the revision. Good question! According to the GRI FAQs,
The number of the Standard has been changed as a result of the 2021 update of the system of GRI Standards. The GRI Topic Standards are no longer organized into the 200 (Economic topics), 300 (Environmental topics), and 400 (Social topics) series. As the first GRI Topic Standard released since this major update, the revised Biodiversity Standard is now named GRI 101: Biodiversity 2024.
Global Reporting Initiative
When will GRI 101: Biodiversity 2024 come into effect?
January 1, 2026, is the effective date for this standard. This means that if an organization determines biodiversity is one of their material impacts, it needs to report using this standard to be in accordance with the GRI Standards. GRI encourages earlier adoption. If this is material to your organization, you can begin reporting at any time.
What is the rationale for this standard?
The idea behind the updated standard is to provide organizations with an opportunity to assess where and how their decisions and activities affect biodiversity loss. This assessment should put organizations in a position to better manage loss. In particular, the standard is intended for organizations to provide full transparency regarding their impacts throughout the supply chain. Often, the supply chain is where significant impacts on biodiversity can go underreported. To understand where an organization’s specific impacts are occurring, the standard requires location-specific reporting on impacts with details about countries and jurisdictions along with information on the place and size of operational sites. Another requirement of the standard states that the organization needs to identify the direct drivers of biodiversity loss. Direct drivers can be due to using natural resources in production processes like sand in construction or emitting air pollutants in manufacturing. Biodiversity loss has impacts on society that affect communities and Indigenous Peoples. If this is the case for an organization, they need to engage with local groups in the restoration of affected ecosystems.
What are the required disclosures in the standard?
- Topic Management Disclosures
Disclosure 101–1 Policies to halt and reverse biodiversity loss
Disclosure 101–2 Management of biodiversity impacts
Disclosure 101–3 Access and benefit-sharing - Topic disclosures 16
Disclosure 101–4 Identification of biodiversity impacts
Disclosure 101–5 Locations with biodiversity impacts
Disclosure 101–6 Direct drivers of biodiversity loss
Disclosure 101–7 Changes to the state of biodiversity
Disclosure 101–8 Ecosystem services
One of the rationales for updating GRI 304 was to have it represent internationally agreed best practice and align with recent developments and the relevant authoritative intergovernmental instruments in the field of biodiversity. This standard is aligned with the goals and targets of the Kunming-Montreal Global Biodiversity Framework, which was adopted in December 2022 at the UN Biodiversity Conference (COP 15). The Framework is a set of goals through 2030 to guide global action to stop and reverse nature loss.
There are four overarching goals set to be achieved by 2050. The areas of focus include:
- Ecosystem and species health, including a halt to human-induced species extinction
- Sustainable use of biodiversity
- Equitable sharing of benefits
- Implementation and finance to include closing the biodiversity finance gap of $700 billion per year
If you are interested in learning more about this framework, you can read the document here. https://www.unep.org/resources/kunming-montreal-global-biodiversity-framework
My next notable report will feature the GRI Topic Standard Project for Climate Change – Climate Change Exposure Draft.