GRI Exam Study Guide Questions With 100% Verified Solutions

GRI Exam Study Guide Questions With 100% Verified Solutions what is a "material topic" - ANSWER those that represent the organizations most significant impacts on the economy, the environment, and people, including on their human rights. due diligence - ANSWER the process through which an organization identifies, prevents, mitigates, and accounts for how it addresses its actual and potential negative impacts on the economy, environment, and people, including on their human rights. stakeholder - ANSWER individuals or groups that have interests that are or could be affected by an organization's activities. Engaging with ______________(s) is an important part of the process of identifying impacts and assessing their significance which helps an org determine its material topics. what disclosures are required to report in accordance with the GRI standards? - ANSWER GRI 2: General Disclosures 2021, GRI 3: material topics 2021, and disclosures from GRI topic standards for each material topic what are the reporting principles? - ANSWER accuracy, balance, clarity, comparability, completeness, sustainability context, timeliness, verifiability (ABCCCSTV) when can a report be prepared 'in reference to' the GRI standards? - ANSWER - if an organization can't meet some of the requirements outlined in Section 3 of GRI 1:Foundation - it uses selected gri standards, or parts of their content, to report information about specific topics What are the 9 requirements an institution must comply with when reporting in reference to the GRI standards? - ANSWER - apply reporting principles in sec 4 of GRI 1 - report the disclosures in GRI 2: general disclosures - how the org determines/manages material topics - report the disclosures in GRI 3: Material Topics - Report disclosures from GRI topic standards for each material topic - provide reasons for omissions - publish a GRI content index - Provide a statement of Use - Notify GRI What is in Section 5 of GRI 1: Foundation? - ANSWER Recommendations for orgs on aligning their susty reporting with other types of reporting and enhancing reporting credibility. When should susty and financial information be published? - ANSWER at the same time. The reports should also cover the same group of entities. what are the benefits of aligning susty and financial reporting? - ANSWER - better comms with stakeholders about long-term value creation It is reasonable to expect that... - ANSWER impacts that are important to society today can be seen as a leading indicator of impacts that could become financially material to an organization over time How can an organization improve the credibility of its reporting? - ANSWER - internal controls, external assurance, and stakeholder/expert panels. These are NOT required to report in accordance with GRI. What are internal controls - ANSWER processes designed or implemented by the organization to provide reasonable assurance regarding the achievement of its objectives When an organization engages in external assurance it is required to... - ANSWER report information on its policies/practices related to the assurance (GRI 2: Disclosure 2-5) What is in GRI 2? - ANSWER Disclosures on "profile and scale" - reporting practices - activities/workers governance - strategy - P&P - stakeholder engagement 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