GRI and IFVI Forge Partnership to Elevate Corporate Impact Measurement

A new collaboration has been launched between the Global Reporting Initiative (GRI) and the International Foundation for Valuing Impacts (IFVI), as the two organizations sign a Memorandum of Understanding (MoU) to jointly advance the application and measurement of corporate impacts. This partnership seeks to enable businesses to play a more meaningful role in creating a just and sustainable future through a deeper understanding of their societal and environmental effects.

For over 25 years, GRI has been a leading authority in impact assessment, developing the world's most widely used sustainability reporting standards. Established in 2022, IFVI aims to advance sustainability information by building on the foundations laid by GRI and other standard-setters, with a particular focus on quantifying impacts in monetary terms, known as "impact accounting".

Strategic Goals of the Collaboration

The partnership aims to bring sustainability data on par with financial information in terms of accessibility, actionability, and comparability. Under the terms of the MoU, GRI and IFVI have outlined several strategic initiatives: promoting each other’s methodologies, expanding market adoption of their standards, and engaging stakeholders through seminars and roundtables to enhance sustainability reporting practices. Additionally, the organizations will align their fundraising efforts and collaborate on capacity-building projects, such as GRI’s Sustainability Innovation Lab.

Eelco van der Enden, CEO of GRI, emphasized the alignment of both organizations' missions, which stress the importance of accountability in measuring corporate impacts. He noted that the partnership aims to unlock greater access to sustainability data, thereby empowering companies, investors, and other stakeholders to enhance supply chain transparency and drive informed decision-making toward a more sustainable future.

T. Robert Zochowski, President and CEO of IFVI, expressed enthusiasm for the partnership, highlighting that it builds on GRI’s foundational work to establish a globally applicable impact accounting methodology. He stressed that closer collaboration with GRI will facilitate the development of a just and sustainable economic system.

With a shared vision of improving corporate accountability and aligning sustainability data with financial metrics, GRI and IFVI are poised to significantly influence the future of sustainability reporting.