GRI has been ranked in the top three most widely used and respected sustainability frameworks, according to a new survey by thought leaders and business executives. ​GRI’s Guidelines were voted among the most helpful and beneficial reporting frameworks, alongside CDP and the Dow Jones Sustainability Index (DJSI), with 50 per cent of respondents identifying GRI as the most credible and favoured standard among corporations and other organizations.

Some 277 members of the GreenBiz Intelligence Panel, a group of executives and thought leaders in the area of corporate environmental strategy and performance, felt these frameworks stood out, providing a mix of useful tools, third party validation, and market recognition.

When asked to what extent the frameworks added value to the business, 26 per cent said GRI had stimulated interest among their customers or made a positive impact on their organization being selected as a supplier. Commenting on how these frameworks help in developing corporate programs, one panellist said: “Internally, these frameworks and initiatives engender a comprehensive awareness of our environmental aspects and impacts, as well as risks and opportunities/innovations. These frameworks and initiatives also push for transparency regarding management strategies and measurable actions. They are smart about targeting areas that will have significant and meaningful impacts that ultimately translate to value for our customers and stakeholders.”

The study noted that other emerging frameworks like the International Integrated Reporting Council (IIRC) and the Sustainability Accounting Standards Board (SASB), could face an uphill battle to gain traction unless they can prove their value in terms of providing a mix of useful tools, third party validation, and market recognition.

To read more about this research, check out John Davies’ article for GreenBiz.