The Global Reporting Initiative (GRI) and the
United Nations Global Compact (UNGC) have signed a memorandum of
understanding to align their work in advancing corporate
responsibility and transparency.

The UNGC aims to get businesses to commit to
aligning their operations with 10 principles in the areas of human
rights, labour, environment and anti-corruption.

As part of the agreement the GRI will develop
guidance on the UNGC’s 10 principles and investigate areas where
the principles can be integrated into GRI’s next generation of
sustainability reporting guidelines.

The UNGC will also adopt the GRI guidelines as
the recommended reporting framework for its 5,800 member

The UNGC said the agreement is intended to
provide its members with a clear set of reporting principles and
indicators to meet its compulsory annual disclosure

“As corporate responsibility has moved into
the mainstream of business strategy and operations, the convergence
of the two corporate responsibility initiatives with the broadest
reach is a crucial development,” UNGC executive director George
Kell said.

“Together, the Global Compact and GRI have a
unique opportunity to provide a clear roadmap to sustainability and
change business practices on a global scale”.

GRI chief executive Ernst Ligteringen said the
collaboration will allow the GRI to extend its reach and support
companies and stakeholders globally who seek to improve their
sustainability performance.