ISSB and GRI · interoperability
ISSB vs GRI: risks to the company, impacts on the world
The ISSB Standards and the GRI Standards answer different questions for different readers, and the two boards say they are designed to be used together.
Since 2025 a company can use its IFRS S2 emissions to meet GRI’s climate standard, and in May 2026 the boards set out how their common disclosures are being aligned.
Side by side
Two standard-setters, two mandates
| ISSB Standards | GRI Standards | |
|---|---|---|
| Standard-setter | International Sustainability Standards Board (IFRS Foundation) | Global Sustainability Standards Board (GRI) |
| Question | Sustainability-related risks and opportunities that could affect the entity’s prospects | The entity’s most significant impacts on the economy, environment and people |
| Audience | Primary users: investors, lenders and other creditors | A range of stakeholders, including investors |
| Materiality | Could reasonably be expected to influence primary users’ decisions (IFRS S1 ¶18) | Impact materiality: the most significant impacts |
| Climate standard | IFRS S2 | GRI 102: Climate Change 2025 |
| Where it sits | General purpose financial reports, alongside the financial statements | A sustainability report or other location, with a GRI content index |
| UK status | UK SRS, comply or explain for listed companies from 2027 | Voluntary |
Where they overlap
Common disclosures, and complementary ones
The joint statement distinguishes common disclosures — the same information serving both purposes — from complementary ones, where each standard adds something the other does not (May 2026).
The boards committed in May 2024 to identify and, where possible, align common disclosures, to reduce duplication and complexity.
The ISSB Standards also capture risks that do not arise from the company’s impacts at all, such as exposure to extreme weather, which GRI does not.
GRI covers impacts that investors may not find material, which matter to employees, communities, customers and civil society.
“The disclosure requirements of the GRI Standards and ISSB Standards overlap, when information about an entity’s most significant impacts is necessary for understanding its sustainability-related risks and opportunities.”
GRI and IFRS Foundation, joint statement, 26 May 2026.
Reporting under both
IFRS S2 emissions, reused for GRI 102
The June 2025 equivalence statement lets a company that reports under both use its IFRS S2 Scope 1, 2 and 3 disclosures to meet the corresponding GRI 102 requirements (GRI and IFRS Foundation).
Two conditions apply: the emissions are measured under the GHG Protocol Corporate Standard (2004), and the GRI content index points to where each disclosure is.
On transition plans, adaptation and just transition, the statement treats the two as complementary: IFRS S2 asks about the risks and opportunities, GRI 102 about the impacts on people and the environment.
The boards are also working together on nature, sector standards, human capital and labour (May 2026).
In the UK
UK SRS for the rules, GRI by choice
A UK listed company meets the FCA’s rules through UK SRS S1 and S2; GRI is not part of the UK framework.
IFRS S1 lists GRI among the sources an entity may consider where they help meet its objective and do not conflict with the ISSB Standards, and the UK text keeps that structure.
A UK group also reporting under the EU’s ESRS meets a third, double-materiality standard; the two materiality tests are set out on double materiality.
Frequently asked
ISSB and GRI, answered
What is the difference between the ISSB and GRI Standards?
Their purpose and audience.
The ISSB Standards give investors material information about sustainability-related risks and opportunities that could affect a company’s cash flows, access to finance or cost of capital.
The GRI Standards give a range of stakeholders, investors included, information about a company’s most significant impacts on the economy, environment and people.
Can a company report under both ISSB and GRI?
Yes.
The IFRS Foundation and GRI say the two sets of standards are complementary and are aligning their common disclosures.
A company can use IFRS S2’s Scope 1, 2 and 3 disclosures to meet GRI 102’s emissions requirements if it measures them under the GHG Protocol Corporate Standard and references them in its GRI content index.
Is GRI double materiality and ISSB single materiality?
In effect.
GRI reports impacts — outward effects on the world — while the ISSB Standards report risks and opportunities for the company, judged by what would influence investors’ decisions (IFRS S1 ¶18).
Impacts enter an ISSB report only where they create a material risk or opportunity for the company.
Does IFRS S1 refer to GRI?
Yes, as a source of guidance an entity may consider, to the extent it helps meet IFRS S1’s objective and does not conflict with the ISSB Standards.
It is a permissive “may”, unlike the “shall refer to and consider” that IFRS S1 uses for the SASB Standards.
Which should a UK company use?
They answer different questions.
A UK listed company reports against UK SRS, the UK version of the ISSB Standards, on a comply-or-explain basis from 2027; GRI is voluntary and is often used for a wider stakeholder report.
Many companies use both, and the boards’ alignment work is designed to reduce duplication.
Sources
Primary sources
Every figure, date and status on this page traces to the instrument’s owner.
Secondary commentary is never the source for a number.
- GRI and IFRS FoundationFacilitating efficient reporting when using the GRI and ISSB Standards (26 May 2026, PDF)
The two purposes, common and complementary disclosures, and the boards’ ongoing work.
- GRI and IFRS FoundationGRI 102 and IFRS S2: statement on reporting on both standards and equivalence (26 June 2025, PDF)
IFRS S2 Scope 1, 2 and 3 can meet GRI 102 if measured under the GHG Protocol and indexed.
- GRIThe GRI Standards
Universal, sector and topic standards for impact reporting.
- GRIGRI 1: Foundation 2021
Reporting in accordance with or with reference to the GRI Standards; the content index.
- IFRS FoundationIFRS S1, full text
¶18 materiality; Appendix C sources of guidance.
- IFRS FoundationIFRS S2, full text (December 2025)
¶29(a) greenhouse gas emissions measured under the GHG Protocol.
- GHG ProtocolCorporate Accounting and Reporting Standard (2004)
The measurement basis the equivalence statement requires.
- Department for Business and TradeUK SRS S1 (PDF)
The UK general requirements, with the same sources-of-guidance structure.
- Department for Business and TradeUK SRS S1 and UK SRS S2
The UK versions of the ISSB Standards.
- Financial Conduct AuthorityPS26/19 final rules (30 September 2026)
UK SRS on comply or explain for listed companies from 2027.
Continue reading
Read next
GRI Standards
The impact-reporting standards in detail.
Global standards compared
ISSB, ESRS and GRI side by side.
Double materiality
Impact and financial materiality explained.
IFRS S2
The climate standard, paragraph by paragraph.
SASB Standards
The industry standards IFRS S1 directs preparers to.
IFRS Sustainability Disclosure Standards
The whole ISSB family.