Global Reporting Initiative: What GRI Biodiversity Standards mean for business disclosure and reporting
What is the Global Reporting Initiative (GRI)?
The Global Reporting Initiative (GRI) is a voluntary global framework for Environmental, Social, and Governance (ESG) reporting. Covering the full spectrum of ESG issues faced by both private and public companies, it helps standardise reporting and create a common language for organisations to collect and disclose sustainability data. GRI enables companies to demonstrate transparency about their impacts—both positive and negative—while serving as a benchmark for the organisation’s sustainable development. By providing a global standard, it fosters informed dialogue and decision-making, including on biodiversity.
GRI Biodiversity Standards
In 2024, GRI introduced an updated standard - GRI 101: Biodiversity 2024, replacing the current GRI 304. This update responds to the increasing number of nature-related frameworks, standards, and regulations, including Kunming-Montreal Global Biodiversity Framework (GBF), the Corporate Sustainability Reporting Directive (CSRD) and the Taskforce on Nature-related Financial Disclosures (TNFD). GRI recognised an opportunity to revise its standards by aligning them with these new instruments to enhance corporate accountability for biodiversity impacts.
Starting in January 2026, organisations will be required to adopt this new standard to ensure more comprehensive and transparent biodiversity disclosures.
This article will help answer key questions, including:
- What does the GRI Biodiversity Standard mean for your business?
- Key Differences Between GRI 304 (2016) and GRI 101 (2024).
- Aligning with Voluntary and Mandatory Frameworks (TNFD & CSRD).
- How to Prepare for the New Biodiversity Reporting Requirements?
- What role does The Biodiversity Consultancy play in supporting your journey?
What does the GRI Biodiversity Standard mean for your business?
For companies where biodiversity is a material concern, the new GRI Biodiversity Standard provides a comprehensive framework to assess, manage, and disclose their impacts on nature. The GRI framework aim to support businesses in increasing transparency, aligning with evolving biodiversity regulations, and enhancing risk mitigation strategies.
By integrating biodiversity considerations into their sustainability reporting, companies can not only comply with regulatory requirements but also gain a competitive advantage while generating positive impact for nature. Transparent reporting on biodiversity impact fosters trust among stakeholders, attracts responsible investors, and strengthens a company’s position in an increasingly sustainability-driven market.
Key differences between GRI 304 (2016) and GRI 101 (2024)
| GRI 304: 2016 | GRI 101:2024 | |
| Topic Management Disclosures | Policies on biodiversity and strategy to achieve them | 101 - 1: Policies to halt biodiversity loss |
| 101 - 2: Management of biodiversity impacts | ||
| 101 - 3: Access and benefit-sharing | ||
| Topic Disclosure | 304 - 1: Operational sites in, or adjacent to, protected areas and areas of high biodiversity value | 101 - 4: Identification of biodiversity impacts |
| 304 - 2: Significant impacts of activities, products and services on biodiversity | 101 - 5: Locations with biodiversity impacts | |
| 304 - 3: Habitats protected or restored | 101 - 6: Direct drivers of biodiversity loss | |
| 304 - 4: IUCN Red List species and national conservation list species with habitats in areas affected by operations | 101 - 7: Changes of the state of biodiversity | |
| 101 - 8: Ecosystem services |
For companies that have reported with GRI in the past, these changes might be significant and require significant additional efforts for disclosure.
Some of the key changes reflected on the diagram above, for which companies should start preparing, include:
Expanded coverage of value chain
- GRI 101 significantly expands the scope of value chain disclosures, requiring companies to report on both actual and potential biodiversity impacts not only within their direct operations but also across their upstream and downstream value chain.
Specific disclosure metrics related to drivers of biodiversity loss
- The updated standards specify metrics for quantitative disclosure of material pressures on biodiversity.
- For example, if land use is material for a company, they must report the area of natural habitat converted from a specific cut-off date. Similarly, they must disclose water withdrawal and consumption if resource use is material.
- These indicators will necessitate comprehensive data collection efforts.
Measurement of changes in ecosystem condition
- In line with GRI 101 – 7, companies must monitor and disclose changes in the state of biodiversity in ecosystems affected by the company’s direct operations. This includes both changes in ecosystem extent and in ecosystem condition.
Disclosure of location of offsets
- As part of disclosure of GRI 101 – 2, companies are required to report how their biodiversity management measures fit into the mitigation hierarchy, which includes biodiversity offsets.
How GRI Standards changes are aligned with other nature-related frameworks like CSRD and TNFD?
GRI new set of biodiversity standards are broadly well aligned with other nature-related frameworks, standards and regulations, such as CSRD and TNFD. The three frameworks are built on the process of identifying your nature-related impacts, dependencies, risks and opportunities, and developing policies, actions and targets to address the issues identified. That means that efforts put in place to align with GRI will be contributing to alignment with CSRD and TNFD as well.
However, in some areas, GRI reporting requirements can go beyond other standards. A few examples are the aforementioned measurement of changes in ecosystem condition and the disclosure of specific locations where biodiversity offsets will be taking place.
For details on the GRI’s interoperability with other nature-related frameworks and standards, you can consult the interoperability report by GRI and EFRAG and the publications by the GRI and TNFD.
How can organisations prepare for the new GRI reporting requirements?
1. Build on existing work
Start by building on previous work done under earlier GRI biodiversity standards. If your company has already reported on biodiversity and ecosystem impacts, use this foundational work as a starting point. This could be, for instance, gap analysis or foot printing exercises conducted before.
2. Refine and expand data collection
Refine and expand existing data collection processes to align with updated requirements, avoiding the need to start from scratch. Leverage past experience to streamline the transition to the new standards and ensure continuity in reporting practices.
3. Align efforts across frameworks
If reporting under other nature-related frameworks, such as the CSRD or TNFD, align efforts to create synergies across frameworks. These frameworks share common principles, objectives, and disclosure requirements, making it possible to create synergies in data collection, analysis and reporting preparation. By harmonising your approach across these frameworks, you can reduce redundancy, improve efficiency, and ensure consistency in your disclosures.
4. Engage with experts
As reporting disclosures become increasingly topic-specific, it is crucial to rely on expert advice. Engaging with biodiversity specialists can provide the necessary guidance to navigate the complexities of these frameworks.
The Biodiversity Consultancy help companies in interpreting technical requirements and provide strategic guidance to support your reporting as well as the standard practice in harmonising nature-related frameworks.
What role does The Biodiversity Consultancy play in supporting your journey?
Whether you are looking to explore sustainability reporting options, including the Global Reporting Initiative (GRI), collect data, or determine your approach to disclosure, our consultants can help you align with the framework and sector standards.
Our team operates across multiple countries and collaborates with stakeholders from site-based and corporate organisations to identify the universal standards and frameworks that best align with your sustainability and disclosure objectives. We provide strategic guidance to ensure your approach follows industry best practices, helping you address key impacts through effective policies, actions, and targets in line with sustainability reporting standards.
Our expertise lies in stakeholder engagement, sustainability performance assessment, and the reporting process, supported by a science-backed advisory program, ensuring consistency with global frameworks such as GRI Standards, TNFD, CSRD, and SBTN. We help organisations report in accordance with these frameworks, ensuring alignment with the highest sustainability and governance standards.
The Biodiversity Consultancy has also been actively involved in public consultations on new Sector, Topic and General standard requirements, including GRI 101: Biodiversity 2024, reflecting back questions and clarifications based on our experience with clients. Contact us to get you and your business ready to make nature your business.
Category: Insight
