GRI is launching the Sustainability Innovation Lab (SIL), in partnership with the IFRS Foundation as its Convening Partner.

According to an official statement, 81% of listed companies in Asia-Pacific report with GRI. There is also a strong interest from the region in adopting the new International Sustainability Standards Board (ISSB) Standards.

The SIL will be launched at a conference in Singapore on November 20, titled: GRI: Solutions in Motion, Sustainability in Action.

SIL will initially be operated by the GRI ASEAN Network. It will be managed by a steering committee led by senior representatives from both the foundations. Representatives of key partners will provide strategic direction. Multi-stakeholder working groups are being established to focus on four priority areas: digital taxonomies, audit and assurance, smaller companies, and public sector reporting. Basis which they will develop concepts, best practices and data-driven solutions. Besides, the lab will provide capacity building within supply chain to meet new information demands.

Companies worldwide are aiming to improve sustainability performance across their value chain by addressing a capacity and expertise gap. The new innovation lab, partnered with the IFRS Foundation, aims to streamline reporting output., said Eelco van der Enden, CEO, GRI.