Introduction

In the decade following their launch, the United Nations Global Compact and Global Reporting Initiative (GRI) have developed into two of the most widely used global instruments to promote more responsible business practices in the field of sustainable development. Despite their different histories and organizational structures, their strategic positioning as a mutually reinforcing ‘value platform’ appears to have been successful. Separately, they have achieved pre-eminence in their respective fields. Together, they are increasingly widely used by companies to report their corporate responsibility goals, policies and performance.

Looking ahead over the next decade, however, it is clear they will not achieve their respective missions without directly addressing a range of criticisms. These include that they are neither broad enough in terms of users, nor deep enough in terms of measurable impacts and accountability. There are also issues about the sustainability of their respective business models. In many respects, however, their shortfalls are not of their own making.