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CS Professional · Environmental, Social and Governance (ESG) - Principles and Practice · Integrated Reporting Framework, Global Reporting Initiative Framework and Business Responsibility and Sustainability Reporting

Veda Textiles Ltd, a Coimbatore manufacturer, is preparing its first sustainability report using the GRI Standards. The company secretary asks which Standards apply to every organisation regardless of sector or topic. Which set should she identify?

The GRI Universal Standards (GRI 1, GRI 2 and GRI 3) apply to every organisation preparing a GRI sustainability report, whatever its sector. Sector Standards and Topic Standards are applied selectively, depending on the sector and the material topics identified.

  1. AGRI Universal StandardsCorrect
  2. BGRI Topic Standards
  3. CGRI Sector Standards
  4. DGRI Financial Standards

Explanation

The GRI Standards system has three series: Universal Standards (GRI 1, 2 and 3), Sector Standards and Topic Standards. The Universal Standards apply to all organisations preparing a report. Topic Standards are used only for the material topics identified, and Sector Standards only where one exists for the organisation's sector. There is no series of Financial Standards.

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