GRI, Exam 2024 Latest Update with Complete Solutions, Exams of Marketing

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GRI, Exam 2024 Latest Update with Complete Solutions Measure performance - internal benefits of gri standards - ANSWER-- Set vision and strategy -Manage risks - Motivate employees Key features of gri standards - ANSWER-- designed to be used by any org. - comprehensive range of topics - flexible framework for reporting - aligned with best practice in managing and reporting on impacts - regularly updated - free public good available in several languages Who issues the gri standards? - ANSWER-global sustainability standards board (GSSB), an independent authority operating under the auspices of GRI what are the universal standards? - ANSWER-they apply to all organizations: - GRI 1: Foundation 2021 - GRI 2: General Disclosures 2021 -GRI 3: Material Topics 2021 what is in gri 1 foundation? - ANSWER-- purpose of the standards - clarifies critical concepts that provide a common language for reporting with the Standards - explains how to use/ reference the standards - lists requirements that orgs must comply with to report in accordance with the standards - specifies the principles (accuracy, balance, and verifiability) that are fundamental to high quality reporting. - provides additional reporting recommendations. - two appendices and a glossary what is in gri 2 general disclosures? - ANSWER-- disclosures detailing org structure and reporting practices, activities and workers, governance, strategy, policies, practices, and stakeholder engagement (for reporting context) what is in gri 3 material topics? - ANSWER-- explains and reports on steps by which an org determines and manages its material topics and how the sector standards are used in the process. Impacts are grouped into topics for cohesive reporting. What is in each sector standard? - ANSWER-lists topics that are likely to be material for an organization given a specific sector based on the sector's most significant impacts. It also lists disclosures from the GRI Topic Standards for an organization to report. Any organization that wishes to state that its report has been prepared in accordance with the Standards is required to use _________________________ when determining its material topics. - ANSWER-the applicable sector standards What are the topic standards? - ANSWER-final series in system of GRI standards, each topic standard is dedicated to a particular topic and contains disclosures relevant to that topic. What does each topic standard contain? - ANSWER-- overview of the topic - disclosures for an org. to report about its impacts in relation to the topic - how it manages its impacts. An organization uses the ___________ _________ that correspond to the topics it has determined to be material for reporting. - ANSWER-Topic Standards What is the GRI Standards Glossary? - ANSWER-a separate doc that contains defined terms with specific meaning when used in the context of the Standards. Orgs are required to use the definitions of terms in the GRI standards glossary when reporting in accordance with the GRI standards. What is an effective date? - ANSWER-The date from which the use of the Standard is required when reporting in accordance with the Standards. Adoption before the effective date is not required, it is strongly recommended. Each GRI Sector and Topic Standard has its own _____________ ______ - ANSWER- effective date Disclosures provide: - ANSWER-A structured means for an organization to report information about itself and its impacts. All GRI Standards, except for ___________________________ contain disclosures. - ANSWER-GRI 1: Foundation All disclosures included in the GRI standards contain _____________________ - ANSWER-requirements. Requirements are presented in _____________ and indicated with the word "_______" - ANSWER-bold font; shall when a term is defined in the standards... - ANSWER-organizations are required to use this definition to be able to make a claim of reporting in accordance with the standards. what is in GRI 3? - ANSWER-material topics: -how to determine material topics and how GRI sector standards are used -disclosures for reporting the list of material topics and process of how they were determined and managed what is in the sector standards? - ANSWER-- how to identify a sector's most significant impacts and reflect stakeholder expectations for susty reporting. - describe susty context, outline topics based on sector's most sig impacts, and list disclosures that are relevant for the sector to report. Not all topics listed in a sector standard... - ANSWER-may be material for every organization. Organizations should base their process to determine material topics on... - ANSWER- their own specific circumstances, while using the Sector Standards as a guidance. What is in the topic standards? - ANSWER-disclosures that the organization uses to report information about its impacts in relation to particular topics. (topic management disclosures and general topic disclosures) The org uses the Topic Standards according to .... - ANSWER-the list of material topics it has determined using GRI 3: material topics How many topic standards are there? - ANSWER-31 - more will be added What is the suggested (but not required) reporting process from GRI? - ANSWER-- understand the system and key elements of GRI standards - apply the reporting principles (all eight must be applied) - determine material topics (four step approach) - report using the GRI standards - prep GRI content index and statement of use -publish information and GRI content index - notify GRI there is no requirement... - ANSWER-for a minimum number of disclosures to report from the topic standards. reasons for omission are permitted for ____ disclosures from the topic standards - ANSWER-all The organization may need to use _________ than one topic standard to report on a material topic - ANSWER-more When an org's material topic is not covered by a topic standard, the org is still required to... - ANSWER-report on how it manages the topic using disclosure 3-3 when a sector standard exists for one or more of its sectors, the org must... - ANSWER- review each topic listed in the sector standards and determine whether the topic is material for its circumstances. what are the four reasons for omission? - ANSWER-- N/A - legal prohibitions - confidentiality constraints - information unavailable or incomplete (bottom two should only be used in exceptional circumstances) Org is required to report any of the reasons for omission in... - ANSWER-the GRI content index what are the four steps to determine material topics? - ANSWER-1) understand the context in which the org operates (activities, business relationships, susty context, stakeholders) 2) identify actual and potential impacts 3) assess the significance of the impacts 4) prioritize the most significant impacts for reporting the org is responsible not only for impacts related to its own activities, but also impacts that are...... - ANSWER-directly linked to its operations, products, services by its relationships identifying actual and potential negative impacts is... - ANSWER-the first step of due diligence in the case of potential negative human rights impacts, the severity of the impact... - ANSWER-takes precedence over its likelihood the severity of a negative human rights impact is not limited to... - ANSWER-physical harm. Highly severe impacts can occur in relation to any human right. In GRI 2, reasons for omission are allowed for ________ disclosures, except.... - ANSWER-all, Section 1 disclosures (org and its reporting practices) what does gri 2, section 2 contain? - ANSWER-disclosures about activities and workers what does gri 2, section 3 contain? - ANSWER-disclosures about governance What authoritative intergovernmental instruments are relevant to GRI? - ANSWER-- ILO Tripartite Declaration of Principles Concerning Multinational Enterprises and Social Policy - The OECD Guidelines for Multinational Enterprises - The OECD Due Diligence Guidance for Responsible Business Conduct - The U N Guiding Principles on Business and Human Rights The authoritative intergovernmental instruments are based on... - ANSWER- international legal instruments, such as the UN Bill of Human Rights and the ILO conventions. The right to collective bargaining is a fundamental right at work that is covered in the... - ANSWER-International Labor Org. 'Right to Organise and Collective Bargaining Convention' What disclosure in GRI 3 can be completed with a reason for omission? - ANSWER- Only 3-3: management of material topics. The GRI Standards recommend that the organization's _____________________________ oversee the process and review and approve the material topics. - ANSWER-highest governing body Organizations must list all topics included in the applicable sector standards in their GRI Content Index...... - ANSWER-even topics that they have determined as not material. In cases where the organization does not manage a topic... - ANSWER-it is still required to report the topic with an explanation for not managing it. when reporting a material topic, the org should provide a.............. - ANSWER-statement of intent to manage the topic, or can explain its position on the topic, whether the commitment is based on regulatory compliance and whether the commitment complies with authoritative intergovernmental instruments related to the topic. what does the content index show? - ANSWER-- which GRI standards/disclosures the organization used - if the organization used the sector standards that apply to it - If the organization has reported in accordance with the GRI standards or with reference to the Standards - If a reason for omission is being used what four documents must businesses respect (at a minimum)? - ANSWER-Universal declaration of human rights (international covenant on political and civil rights, international covenant on econ, social, and cultural rights), and international labor org declaration on fundamental principles and rights at work What is the HR due diligence process? - ANSWER-1) ID and assess actual or potential HR impacts 2) integrate finding and take action 3) track the effectiveness of the response