Exam (elaborations)
GRI, 2021 Update.
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Exam of 8 pages for the course CAIA Level 2 at CAIA Level 2 (GRI, 2021 Update.)
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GRI, 2021 Updateinternal benefits of gri standards - correct answer-- Set vision and strategy
- Measure performance
- Manage risks
- Motivate employees
external benefits of gri standards - correct answer-- Build reputation and trust
- Attract capital
- Engage with stakeholders
- Comply with regulatory requirements
Key features of gri standards - correct answer-- designed to be used by any org.
- comprehensive range of topics
- flexible framework for reporting
- aligned with best practice in managing and reporting on impacts
- regularly updated
- free public good available in several languages
Who issues the gri standards? - correct answer-global sustainability standards board
(GSSB), an independent authority operating under the auspices of GRI
what are the universal standards? - correct answer-they apply to all organizations:
- GRI 1: Foundation 2021
- GRI 2: General Disclosures 2021
-GRI 3: Material Topics 2021
what is in gri 1 foundation? - correct answer-- purpose of the standards
- clarifies critical concepts that provide a common language for reporting with the Standards
- explains how to use/ reference the standards
- lists requirements that orgs must comply with to report in accordance with the standards
- specifies the principles (accuracy, balance, and verifiability) that are fundamental to high
quality reporting.
- provides additional reporting recommendations.
- two appendices and a glossary
what is in gri 2 general disclosures? - correct answer-- disclosures detailing org structure
and reporting practices, activities and workers, governance, strategy, policies, practices, and
stakeholder engagement (for reporting context)
what is in gri 3 material topics? - correct answer-- explains and reports on steps by which an
org determines and manages its material topics and how the sector standards are used in
the process. Impacts are grouped into topics for cohesive reporting.
, What is in each sector standard? - correct answer-lists topics that are likely to be material for
an organization given a specific sector based on the sector's most significant impacts. It also
lists disclosures from the GRI Topic Standards for an organization to report.
Any organization that wishes to state that its report has been prepared in accordance with
the Standards is required to use _________________________ when determining its
material topics. - correct answer-the applicable sector standards
What are the topic standards? - correct answer-final series in system of GRI standards, each
topic standard is dedicated to a particular topic and contains disclosures relevant to that
topic.
What does each topic standard contain? - correct answer-- overview of the topic
- disclosures for an org. to report about its impacts in relation to the topic
- how it manages its impacts.
An organization uses the ___________ _________ that correspond to the topics it has
determined to be material for reporting. - correct answer-Topic Standards
What is the GRI Standards Glossary? - correct answer-a separate doc that contains defined
terms with specific meaning when used in the context of the Standards. Orgs are required to
use the definitions of terms in the GRI standards glossary when reporting in accordance with
the GRI standards.
What is an effective date? - correct answer-The date from which the use of the Standard is
required when reporting in accordance with the Standards. Adoption before the effective
date is not required, it is strongly recommended.
Each GRI Sector and Topic Standard has its own _____________ ______ - correct
answer-effective date
Disclosures provide: - correct answer-A structured means for an organization to report
information about itself and its impacts.
All GRI Standards, except for ___________________________ contain disclosures. -
correct answer-GRI 1: Foundation
All disclosures included in the GRI standards contain _____________________ - correct
answer-requirements.
Requirements are presented in _____________ and indicated with the word "_______" -
correct answer-bold font; shall
To prepare a report in accordance with the Standards, the organization is required to comply
with _____________________________ in the reported disclosures - correct answer-all
requirements
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