Global reporting standard recommended

MEDIA RELEASE: 2pm, Thursday 28th October, 2010.

Global reporting standard recommended for New Zealand companies

An international standard for non-financial reporting is being recommended by a local expert as the globally accepted framework for businesses to adopt in New Zealand.

In a new initiative being launched in Auckland on Monday (November 1st), kiwi-owned consultancy firm Envirostate are partnering with the Global Reporting Initiative (GRI) in the Netherlands to develop sustainability reporting capability in New Zealand that meets internationally accepted best-practice standards.

“In the new economy of global supply chains and environmentally aware customers, one reporting standard sits above all others and that is the GRI” according to Calum Revfem of Envirostate.

“When global companies consider the performance of their suppliers or organisations they are going to do with business with, a GRI report meets the strictest tests of accountability and transparency. For New Zealand businesses in the global supply chain, failing to meet international standards such as the GRI is not going to be an option”.

“In today’s market companies are expected to meet a much wider range of stakeholder information needs from groups as diverse as shareholders, customers and NGOs through to community and environmental organisations. The GRI sustainability reporting framework, known as the G3, stands up to the ultimate tests of materiality and transparency, with respect to non-financial reporting for all of these groups”.

Envirostate are aiming to have 100 New Zealand companies competently reporting using the GRI framework by 2012. GRI Training workshops are being offered throughout New Zealand starting in December.

For more information visit www.envirostate.co.nz.

ENDS.

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