GRI Exam Study Guide QUESTIONS WITH COMPLETE 100% VERIFIED SOLUTIONS 2024/2025, Exams of Business Administration

Download GRI Exam Study Guide QUESTIONS WITH COMPLETE 100% VERIFIED SOLUTIONS 2024/2025 and more Exams Business Administration in PDF only on Docsity! GRI Exam Study Guide QUESTIONS WITH COMPLETE 100% VERIFIED SOLUTIONS 2024/2025 GRI Standards are required for all reports or other materials published that apply the GRI framework on or after..... July 1, 2018 Updates to GRI nomenclature because of the update to Standards: 1)'indicator' is now...; 'aspect' is now... Disclosure...topic One of the most significant updates in GRI Standards is... clarification on the term "impact" - A report should focus on the impacts that the organization has on the economy, environment and society, instead of the impacts on the organization itself. What are the three universal standards? GRI 101: Foundations GRI 102: General Disclosures GRI 103: Management Approach There are currently a total of .... topic specific standards in the three blocks of standards (200, 300, and 400) 38 In the GRI Standards, topic Boundary disclosures have been moved to the .... section of the report. Disclosure 103-1: Management Approach Explanation of its Material Topic and its Boundary What is the vision of the GRI organization? A future where sustainability is integral to every organization's decision-making process What percentage of all organizations that issue a corporate responsibility report reference GRI by name? 63% of N100* reports and 75% of G250 reports apply the GRI framework. About 60% How many governments or organizations worldwide reference GRI by name in their policies? At least 38 - (50 governments reference GRI in their policies) How many sustainability reports are now in the GRI database? More than 37,000 (The GRI Sustainability Disclosure Database has grown to house more than 40,000 reports from more than 10,000 organizations in 110 countries.) Organization from at least how many countries are using GRI reporting? 90 - (110) The GRI Standards are issued by the ....; also known by the acronym..... Global Sustainability Standards Board; GSSB GRI Standards are developed through a ... stakeholder process. Multi- GRI has formed expert ... groups to develop draft content on specific topics. Working What are the 6 GRI expert working groups? Academia, Business, Capital Markets, Civil Society, Governments, and Labor Define 'disclosure' Refers to specific information that is to be reported. (For example, the name of your organization, or data on GHG emissions).Refers to specific information that is to be reported. (For example, the name of your organization, or data on GHG emissions). Define 'topic' An economic, environmental or social subject Note 1: In the GRI Standards, topics are grouped according to the three dimensions of sustainable development: economic, environmental and social. Note 2: To prepare a report in accordance with the GRI Standards, an organization is required to report on its material topics. Define 'material topic.' topic that reflects a reporting organization's significant economic, environmental and social impacts; or that substantively influences the assessments and decisions of stakeholders Note 1: For more information on identifying a material topic, see the Reporting Principles for defining report content in GRI 101: Foundation. Note 2: To prepare a report in accordance with the GRI Standards, an organization is required to report on its material topics. Note 3: Material topics can include, but are not limited to, the topics covered by the GRI Standards in the 200, 300, and 400 series. Define 'management approach disclosure' narrative description about how an organization manages its material topics and their related impacts. Note: Disclosures about an organization's management approach also provide context for the information reported using topic-specific Standards (series 200, 300, and 400). Define 'GRI content index' Navigation tool that specifies which GRI Standards have been used, which disclosures have been reported on, and where these disclosures can be found in the report or other location. What are the 4 main features of the GRI standards? enabling stakeholders to make sound and reasonable assessments of the organization, and to be able to take appropriate actions based on those assessments. What is the Accuracy principle? Requires that the reported information be sufficiently accurate and detailed for stakeholders to assess the reporting organization's performance What is the Balance principle? Requires that the reported information reflects positive and negative aspects of the reporting organization's performance to enable a reasoned assessment of overall performance. What is the Clarity principle? Requires the reporting organization to make information available in a manner that is understandable and accessible to stakeholders using that information. What is the Comparability principle? Requires the reporting organization to select, compile, and report information consistently. The reported information is required to be presented in a manner that a.enables stakeholders to analyze changes in the organizations performance over time, and 2. that could support analysis relative to other organizations What is the Reliability principle? Requires the reporting organization the data gathering, record, compile, analyze, etc. is conducted in a way that can be subject to examination. and report information and process used in the preparation of the report in a way that they can be subject to examination, and that establishes the quality and materiality of the information What is the Timeliness Principle? Requires the reporting organization to report on a regular schedule so that information is available in time for stakeholders to make informed decisions. To publish any kind of in accordance report (Core or Comprehensive option), what needs to be true with regards to 10 Reporting Principles? ALL 10 Reporting Principles are required to be applied by reporting organizations to be in accordance with the GRI Standards. Each or the Reporting Principles consists of ... and ... on how to apply the principle. requirement and guidance The guidance for each of the Reporting Principles includes ... to help an organization assess whether it has applied the principle. tests What does GRI suggest as the first 3 steps toward report development? 1. Identify and create a reporting team 2. Create awareness and secure commitments about reporting 3. Hold a kick-off meeting When reporting General Disclosures: the General Disclosures request .... about an organization and its sustainability reporting practices. contextual information The 'organizational profile' in General Disclosures consists of 13 disclosures that provide an overview of an organization's...., ...., ...., and .... Organizations size, geography, operations, and activities The strategy section of General Disclosures consist of 2 disclosures, intended to give insight on.... strategic issues for addressing sustainability General Disclosures' Ethics & integrity section consists of 2 disclosures that reveal... and ... 1. the organizations values, principles, standards, and norms; 2. the mechanisms for advice and concern about ethics General Disclosures "Governance' consists of 22 disclosures that provide an overview of .... ? the governance structure, composition, and the organization's highest governing body in the sustainability reporting General Disclosures: 'Stakeholder engagement' consists of 5 disclosures to provide detail about .... items such as a mist of stakeholders engaged, how they were identified/selected, type of engagement, topics raised General Disclosures: "Reporting practice' consists of 12 disclosures that provide an overview of .... the process used to define the context of the report, the material topics, and boundaries, reporting period, external assurance Materiality is the principle that determines which topics are sufficiently important to ... Are all topics/materiality of equal importance? sufficiently important to report on; Materiality topics emphasis within a report is expected to reflect their relative priority Material assessment assesses topics against 2 dimensions. What are they? 1. significance of the organization's economic/environmental/social impacts 2. substantive influence on assessments and decisions of stakeholders Define 'impact.' In the GRI Standards, unless otherwise stated, 'impact' refers to the effect an organization has on the economy, the environment, and/or society, which in turn can indicate its contribution (positive or negative) to sustainable development. Note 1: In the GRI Standards, the term 'impact' can refer to positive, negative, actual, potential, direct, indirect, short-term, long-term, intended, or unintended impacts. Note 2: Impacts on the economy, environment, and/or society can also be related to consequences for the organization itself. For example, an impact on the economy, environment, and/or society can lead to consequences for the organization's business model, reputation, or ability to achieve its objectives. It is possible for organizational impacts to be positive and negative; ... and ...; ... and ...' ... and ...; and ... and .... actual and potential; direct and indirect; short-term and long-term; intended and unintended What does GRI require regarding a materiality matrix? GRI does not require a materiality matrix nor a specific matrix, but if a matrix is used, it should have 2 dimensions. 1.) reflect the organization's significant economic environmental and social impacts, and 2.) influence the assessments and decisions of stakeholders. note that a topic can be considered material finite registers on only a single dimension or axis. An organization identifies material topics primarily by applying which 2 principles? 1. Stakeholder Inclusiveness Principle 2. Materiality principle When possible, GRI requires a link between identified ... and topic-specific Standards. Material topics All material topics, including those not covered by GRI Standards, from the content of the... sustainability principles What are examples of GRI sector-specific standards? airport operators, electric utilities, event organizers, financial services, food processing, media, mining/metal, NGO's, oil/gas, real estate/construction Before starting the stakeholder engagement process, it is important to plan for 2 specific items. What are they? 1.) what to ask from different stakeholders 2.) what methods to use for stakeholder engagement For each material topic, the organization is required to identify and explain the.... topic Boundary Organizations sing GRI Standards are expected to report not only on impacts they cause, but also on impacts they... and impacts that.... contribute to; are directly linked to their activities, products, or services through a business relationship For each material topic, a topic Boundary disclosure requires a description of what 2 things? 1. where the impacts occur 2. the organization's involvement with the impacts (for example, whether it cases, contributes o, or is directly linked to the impact) What are an organization's options for reporting when a topic Boundary extends beyond the organization? 1. when a topic Boubdary includes part if a supply chain that cannot be assessed, the reporting organization is still required to report the management approach for topic 2. the recognized reasons for omission can be used when data is not available or accessible. When reporting on material topics, the reporting organization is required to report a ... and report on ... for each material topic.