28 August 2018: The Global Reporting Initiative (GRI) has issued an update to its water and effluents standard for corporate reporting. The revised standard places emphasis on assessing water resource impacts across the whole product supply chain, which, GRI states, has been consistently under-reported in the past.

Launching the report titled, ‘GRI 303: Water and Effluents 2018,’ at World Water Week in Stockholm, Sweden, the organization highlighted the need for better stewardship of water resources, and its mission to help companies understand their impacts on the environment and local communities.

The GRI 303 standard on water and effluents was first issued in 2016. The 2018 revision helps companies to collect information on water use from withdrawal to consumption and discharge, and to report on associated impacts on people and ecosystems, including at a local level. The revised standard enables investors to assess a company’s overall exposure to water risk, as it addresses the whole supply chain.

GRI will organize two interactive webinars on 19 September to present the revised standard.

GRI is an independent, international organization established in 1997 to help businesses and governments understand and communicate their impact on sustainability issues, including climate change, human rights, governance and social wellbeing. The standards are developed based on contributions from stakeholders, which in this case included the World Resources Institute (WRI), WWF and the Pacific Institute. [Publication: GRI 303 Water and Effluents 2018] [GRI Press Release] [GRI 303 Project Page] [GRI Website]