CSE and GRI

The Colombo Stock Exchange (CSE) recently formalised an arrangement with the Global Reporting Initiative (GRI) to provide guidance to listed companies on ESG disclosures in Sri Lanka. Director, GRI South Asia Dr. Aditi Haldar, and CEO CSE Rajeeva Bandaranaike were present at the event.

GRI is an independent international organisation that has pioneered sustainability reporting since 1997. GRI helps businesses and governments worldwide understand and communicate their impact on critical sustainability issues such as climate change, human rights, governance and social well-being. The GRI Sustainability Reporting Standards are developed with true multi- stakeholder contributions and rooted in the public interest and are the first and most widely adopted global standards for sustainability reporting, a CSE media release said.

GRI and the CSE will jointly undertake surveys and studies among listed companies and investors to gauge their knowledge, determine their capacity on sustainability reporting and identify the types of technical assistance and capacity building needed to improve awareness and institutionalise sustainability reporting within their organisations, it said. CSE and GRI will also collaborate to conduct workshops, seminars and other forms of training for representatives of listed companies.

Commenting on the collaboration, Mr. Bandaranaike stated “As a member of the United Nations Sustainable Stock Exchanges (SSE) initiative, the CSE actively engages in its commitment to promote improved ESG disclosure and performance among listed companies. Through our collaboration with GRI, the CSE intends to foster greater awareness among our listed entities on the fact that ESG practices can be as beneficial to companies as they are to investors and that a strong focus on ESG can provide a basis for strong business results.”