A new tool from the Ellen MacArthur Foundation allows companies to track their progress towards meeting global circular economy standards.
GRI 306: Waste 2020 is the first globally applicable reporting standard for companies to provide a complete picture of waste impacts along their value chain. Circulytics from the Ellen MacArthur Foundation allows businesses to assess circular economy performance in their operations.
The Circulytics and GRI 306 linkage document provides an overview of the disclosures in the GRI Waste Standard and maps them against the relevant Circulytics indicators. This enables companies to use the data they already collect for their GRI reporting to complete a Circulytics assessment. Access to the GRI Standards and Circulytics are both free of charge.
“The GRI Standards enable organizations to communicate their impacts in a way that is globally comparable, creating information that can be used by companies and their stakeholders for multiple purposes,” said Anna Krotova, senior manager – Standards, GRI.
“When it comes to understanding waste impacts, circularity is a central focus of the GRI Waste Standard. We would encourage organizations to assess the benefits that come from adopting circular economy practices, as supported by combining GRI reporting on waste with the metrics and insights from Circulytics.”
How does Circulytics work?
Circulytics was developed as a comprehensive measurement tool for the circular economy, looking beyond products and material flows.
A company submits responses against a set of indicator questions, leading to a scorecard on circular economy performance, at the company level.
The results can inform decision making and strategy development on circular economy transition, with opportunities to share the scoring with investors and customers
What are the key features of GRI 306?
This Standard supports reporting on the waste-related impacts of activities, products and services, enabling organizations to identify circularity and waste prevention opportunities
Companies are encouraged to assess waste throughout the value chain, identifying management decisions and actions that lead to a fundamental re-design of their business model and operations
Published in May 2020, it updates previous GRI disclosures on waste, responding to global concerns about increases in waste generation and the associated sustainability impacts
Global Reporting Initiative (GRI) is the independent, international organization that publishes the GRI Standards.
The Ellen MacArthur Foundation develops and promotes the idea of a circular economy. It works with business, academia, policymakers and institutions around the world, to mobilize systems solutions at scale.