Consent of a number of stakeholders, in addition to customers’ interest, and compliance with the laws in force are needed for the activities of businesses in most sectors. Reliable non-financial reporting is an important aspect of companies’ responsible behaviour and is among the key tools for communication between companies and their key stakeholders (both those influenced and those exerting influence), such as, besides customers, shareholders, employees, adjacent communities, professional and lay public, state administration and local government, and the media.
The GRI standard is used to measure the level of sustainable development, or corporate responsibility (these two are synonyms), which is seen in the company’s fair daily practice rather than in extraordinary projects and philanthropy. It comprises evaluation of corporate governance transparency, system of internal regulations, working conditions, responsibility for products, risk management, including environmental protection, antitrust behaviour, quality of relationships with stakeholders (customers, employees, overseeing authorities, municipalities, NGOs and others).
A yearly report according to the GRI standard, and the non-financial reporting that precedes it, are not just “another marketing strategy”: it is intended for much more target groups than only customers.
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