Abstract :

This article compares companies that report their sustainability information in accordance with the GRI Standards (Global Reporting Initiative) with those that exclusively follow the IFRS Sustainability Disclosure Standards (ISSB – IFRS S1 and S2). The study aims to understand the conceptual, methodological, and practical differences between these two reporting frameworks, with a focus on their impact on corporate transparency, governance, accountability, and decision-making. It is based on a review of literature, document analysis, and institutional sources to create an analytical framework that helps companies, auditors, regulators, and researchers understand and apply both systems. The analysis reveals that the GRI standards employ a dual materiality approach, considering both the company’s impacts on society and the environment, as well as how these factors influence financial performance. In contrast, the ISSB/IFRS, rooted in capital market principles, focuses mainly on financial materiality, targeting investors and capital providers. This difference is evident in their content requirements, governance structures, and the level of detail provided. The article also discusses the interoperability between GRI and ISSB, highlighting efforts to align and complement the standards, as well as addressing challenges to prevent report overlap and duplication. Additionally, the study examines issues related to assurance, comparability, and credibility of sustainability reports, suggesting that integrating both approaches can improve the consistency of corporate disclosures. It concludes that, despite their different objectives and target audiences, the convergence of GRI and ISSB marks a significant step toward more integrated, transparent, and responsible sustainability reporting that guides decision-making.

---

Keywords :

corporate sustainability, GRI, IFRS S1, IFRS S2, Integrated reporting, ISSB, Materiality.

---

References :

1. eu. (2025). Decoding the many ESG standards and frameworks: Comparative summary and adoption trends. https://www.consultancy.eu
2. eu. (2024). Sustainability reporting trends: GRI, ISSB and hybrid disclosure models. https://www.consultancy.eu
3. (2023). Global sustainability disclosure standard coverage: ISSB finalizes IFRS S1 and S2. Deloitte Accounting Research Tool (DART). https://dart.deloitte.com/USDART/home/publications/deloitte/heads-up/2023/global-sustainability-disclosure-standard-coverage-issb-finalizes-ifrs-s1-s2
4. Global Reporting Initiative. (2021). GRI standards: Consolidated set (2021 update). Amsterdam: Global Reporting Initiative. https://www.globalreporting.org
5. Global Reporting Initiative. (2024). GRI–ISSB interoperability guidance 2024: Mapping between GRI Standards and IFRS S1/S2. Amsterdam: Global Reporting Initiative. https://www.globalreporting.org
6. Global Reporting Initiative & IFRS Foundation. (2023, May 24). Announcement of collaboration for interoperability between GRI and ISSB standards. https://www.globalreporting.org
7. Harvard Law School Forum on Corporate Governance. (2023, August 22). Inside the IFRS S1 and S2 sustainability disclosure standards. https://corpgov.law.harvard.edu/2023/08/22/inside-the-ifrs-s1-and-s2-sustainability-disclosure-standards
8. IFRS Foundation. (2023a). Introduction to the ISSB and IFRS Sustainability Disclosure Standards. https://www.ifrs.org/sustainability/knowledge-hub/introduction-to-issb-and-ifrs-sustainability-disclosure-standards
9. IFRS Foundation. (2023b). IFRS S1: General Requirements for Disclosure of Sustainability-related Financial Information. https://www.ifrs.org/issued-standards/ifrs-sustainability-standards-navigator/ifrs-s1-general-requirements
10. IFRS Foundation. (2023c). IFRS S2: Climate-related Disclosures. https://www.ifrs.org/issued-standards/ifrs-sustainability-standards-navigator
11. IFRS Foundation & Global Reporting Initiative. (2023). GRI and ISSB collaboration on interoperability of sustainability standards. https://www.ifrs.org/news-and-events/news/2023/07/gri-and-issb-collaboration
12. Krivogorsky, V. (2024). Systematic review on GRI standards (2024–2025).
13. Lokita, R., & Megawati. (2024). Sustainability reporting ecosystem and IFRS S1 and S2: How accounting research can assist its implementation. https://www.researchgate.net/publication/383449462
14. Maroun, W. (2024). Developments in sustainability reporting research: A review and agenda for future inquiry. Journal of Cleaner Production, 432, 139872. https://doi.org/10.1016/j.jclepro.2024.139872
15. Wagenhofer, A. (2024). Sustainability reporting: A financial reporting perspective. Accounting and Business Research, 54(2), 123–142. https://doi.org/10.1080/00014788.2023.2218398
16. Wahyuni, P. D. (2025). The role of IFRS S1 and S2 in enhancing transparency and accountability of ESG reports: A systematic review. Asian Journal of Economics, Business and Accounting, 25(1), 1–12. https://doi.org/10.9734/ajeba/2025/v25i11628