ABSTRACT: This study investigates the prospects of the Global Reporting Initiative (GRI) Standards in supporting organisations’ efforts to disclose and report sustainability matters in light of energy and climate- related Sustainability Development Goals (SDGs) demands. This research relies on a constructivist understanding of GRI, which is led by institutional theoretical lens. A content analysis is conducted on a sample of 109 Italian Non-financial reports published by energy and climate related organization in accordance with the requirements of the EU Directive with respect to the financial years from 2017 to 2020. The authors investigate the adoption of 11 GRI Topic Standards requested by the Non-financial Disclosure (NFD) regulation and aligned with the material SDGs 7 and 13. Findings reveal that all the organisations of the sample disclose and report sustainability information through the usage or “in accordance” with GRI Standards. However, disclosure is not always homogeneous also among SDTs of the same standard, providing room for reflections on how an engagement among standard-setting institutions is beneficial to provide robust support for energy- and climate-related reporting. This study aims to contribute to on-going debate on sustainability standard-setting process. Consistent with current academic debate, this research acknowledges that standard-setting in not just a technical process but also a political issue, which requires making choices between conflicting opinions and beliefs. GRI has assumed a leading role in supporting companies to communicate their sustainability performance. Nevertheless, findings suggest how the entrance ofnew – and more investor-oriented – institutions, such as the EFRAG and ISSB, could further support address key gaps emerged from the analysis. Sustainable development issues are today more that even urgent, complex and capable of generate effects on people and planet. A consensus on a shared reporting framework mandatory for organizations could guarantee that much-desired need for information on their impacts on sustainability development and management approach to identify risk and opportunities, incorporating them into the strategy and the business model. Moreover, a shared sustainability framework could assure the aligning between financial and economical short-time performances with long-term SDGs targets and value creation. This research contributes to call for studies on the future role of GRI in responding to stakeholder demand for enhanced sustainability information, the contributions GRI has made to the sustainability reporting space and the practice of sustainability reporting. Particularly, this study focuses on energy and climate-related reporting response of Italian organisations obliged by NFD regulation to issue non-financial statements. Some reporting drop-offs imply further efforts for GRI to support higher sustainability pressures.
KEYWORDS: Global Reporting Initiative; Sustainable Development Goals; Reporting.
