By Vanora Bennett
The European Bank for Reconstruction and Development (EBRD) has issued its first stand-alone Global Reporting Initiative (GRI) disclosure report, stepping up its sustainability reporting and increasing transparency.
The new report provides stakeholders with a compact, comprehensive overview of the EBRD’s approach to environmental, social and governance (ESG) issues.
The GRI report addresses requests from investors and rating agencies for detailed information on the Bank’s own ESG policies and performance as an organisation.
Information on the environmental and social impact of the Bank’s investment and policy engagement activities can be found in the EBRD’s Sustainability Report 2020, also published.
The structure of the GRI report was informed by the results of a public survey of stakeholders and staff to assess which information was deemed material, in line with GRI standards.
The GRI Standards help organisations understand their impact, increase accountability and enhance transparency on their contribution to sustainable development.
While the Sustainability Report focuses on telling the story of the Bank’s environmental, climate and social activities in 2020, the GRI disclosure report is more about the EBRD’s policies, standards and performance across a wide range of ESG topics, human resources and integrity.
The EBRD’s work is underpinned by a clearly defined set of standards, including a strong environmental and social policy, as it strives to develop a healthy investment climate and promote environmentally and socially sound, sustainable development.