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GRI (2024 Update) – Questions With Solutions
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GRI (2024 Update) – Questions With SolutionsThe Universal Standards are effective for reports published on or after
Correct Ans - 1 January 2023
4 Key Concepts Correct Ans - - impact
- material topics
- due diligence
- stakeholder
Impact Correct Ans - Effect the organization has or could have on
the economy, environment, and people, including human rights, which in
turn can indicate its contribution (positive or negative) to sustainable
development
Users of GRI Correct Ans - - any organization
- stakeholders
- information users
- investors
System of GRI Standards Correct Ans - - 3 Universal Standards
(Foundation, General Disclosures, Material Topics)
- Sector Standards
- Topic Standards
Impacts are grouped into _______________ Correct Ans - topics
9 requirements for reporting in accordance with the GRI Standards (found
in GRI 1) Correct Ans - 1. Apply the reporting principles
2. Report the disclosures in GRI 2
3. Determine material topics
4. Report the disclosures in GRI 3
5. Report disclosures from the GRI topic standards for each material topic
6. Provide reasons for omissions for disclosures and requirements the
organization can't comply with
7. Publish a GRI content index
8. Provide statement of use
9. Notify GRI
, Reporting Principles Correct Ans - - Accuracy
- Balance
- Clarity
- Comparability
- Completeness
- Sustainability context
- Timeliness
- Verifiability
Reasons for omission Correct Ans - - Not Applicable
- Legal prohibitions
- Confidentiality constraints
- Information unavailable or incomplete
Reasons for omission are NOT permitted for... Correct Ans - - 2-1:
Organizational details
- 2-2: Entities included in the organization's sustainability reporting
- 2-3: Reporting period, frequency, and contact point
- 2-4: Restatements of information
- 2-5: External assurance
- 3-1: Process to determine material topics
- 3-2: List of material topics
Ways to enhance credibility of sustainability reporting (not required)
Correct Ans - - internal controls
- external assurance
- stakeholder or expert panels
due diligence Correct Ans - Process of identifying, preventing, and
mitigating negative impacts
Severity of a negative impact is determined by Correct Ans - - scale
(how bad)
- scope (how widespread)
- irremediability
Risk Correct Ans - severity + likelihood
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