GRI and stakeholder engagement: setting standards in the public interest

Abstract

PurposeThe purpose of this paper is to provide a viewpoint on the role of stakeholders and inclusivity in the standard setting activities of GRI’s Global Sustainability Standards Board (GSSB). This paper explores GRI’s multistakeholder approach, its links to sustainable development, the GBSSB due process and what this means in practice when setting standards.Design/methodology/approachThis paper draws on GRI’s origins in sustainable development and the participation of people and interests in decisions that impact on them. This paper also looks at the GSSB’s Due Process Protocol, October 2018, which details the procedural steps by which standards are developed in the public interest.FindingsIt is demonstrated how multiple and diverse stakeholders are involved in the process designed to serve the overarching interests of humanity and through that, the mission of sustainable development.Practical implicationsExamples from recent standard setting activity are outlined to demonstrate the abovementioned findings. These examples can illuminate the standard-setting field.Social implicationsThis paper argues the important role of stakeholder engagement in setting standards in the public interest.Originality/valueThis reflection is timely. The current standard-setting landscape should take into account GRI’s valuable contributions to such important aspects as stakeholder engagement, on which the GRI has been working for a long time.