The February 2003 update from the Global Reporting Initiative (GRI):

· Invitation to Register as Organisational Stakeholders
· Financial Planning for the Long-term
· Update on Stakeholder Council
· Report Assurance on the GRI Agenda
· Work on Telecommunications and Other Sectors Progressing
· July 2003 Event in Cooperation with Intl. Corporate Governance Network
· New Website Coming in Days
· More Organisations Use the GRI Guidelines
Invitation to Register as Organisational Stakeholders

GRI is pleased to invite organisations of any type, size, and location to register as Organisational Stakeholders (OS). Registration enables organisations world-wide to benefit from and commit to GRIs mission. OS from business, civil society advocacy organisations, labour, and mediating institutions (e.g., governments, foundations) are a critical element in GRIs governance structure. OS elect the GRI Stakeholder Council, which in turn appoints the Board of Directors. Please download the Organisational Stakeholder Information Sheet and Registration Form and register today to be part of GRIs expanding global network committed to advancing sustainability reporting.

Financial Planning for the Long-term

GRI has recently posted on its website a concept paper entitled Resourcing the Global Reporting Initiative. The paper outlines the Board of Directors’ assessment of GRIs financial needs and its thoughts on the best way to ensure GRI’s long-term financial future through a mixed portfolio of contributions from various sources. The paper outlines GRIs annual budget needs, provides a breakdown of expenditures, and proposes sources of future funding. The Board invites stakeholders to comment on the paper, and will take this input into account as it continues to review and implement the organisations business plan.

Update on Stakeholder Council

As noted in the December 2002 GRI Update, the first gathering of GRI Stakeholder Council (SC) members was held in early December in Amsterdam. The SC is a critical element in GRIs innovative governance structure and a key forum in which stakeholder views are debated and brought to the attention of the GRI Board. The Interim Nomination Committee, a subset of the initial 36-person SC, reviewed more than 90 nominations for the remaining 24 seats for the full SC and is in the process of approaching potential co-members. Once their agreement is obtained, the additional 24 SC members selected will be listed on the GRI website. The first meeting of the full SC will occur on 9-10 July 2003. GRI looks forward to welcoming the full contingent of distinguished SC members and to their contribution to fulfilling GRIs commitment to inclusive and transparent governance.

Report Assurance on the GRI Agenda

Following the valuable work of the Verification Working Group (VWG) in 2001-2002, GRI has convened a short-term Assurance Working Group (AWG) to further assess options in this key policy issue. The AWG met on 22-23 January in Amsterdam and will hold one more meeting before the upcoming GRI Technical Advisory Council (TAC) launches a longer-term programme on assurance. The AWG will report to the Board, and eventually the TAC, on issues pertaining to GRIs role in future assurance practices in relation to GRI-based reports.

Work on Telecommunications and Other Sectors Progressing

The Telecommunications Task Force has its third meeting in February. Following this, GRI will post a revised draft supplement for public comment. The current draft telecommunications sector supplement is available on the GRI website. Work also continues on the Auto Supplement in collaboration with the UNEP Mobility Forum. (Watch the GRI website for updates and working drafts.) In discussion are partnerships to launch the following: financial services-environmental, mining, pharmaceuticals. Other candidate sectors for the mid-term are chemicals, technology hardware, and energy.

July 2003 Event in Cooperation with International Corporate Governance Network

To ensure optimal attendance, GRIs 3rd International Symposium has been postponed until November 2003 further details are forthcoming in the next newsletter. GRI will, however, be holding a smaller high-profile event in Amsterdam on 9 July 2003 to coincide with the first meeting of the Stakeholder Council and a major conference of the International Corporate Governance Network (ICGN). The GRI and ICGN are in discussion about a cooperative agenda that will seek to build bridges between GRI and the institutional investor community. The event will also provide SC members and other delegates the opportunity to interact with ICGN members, who comprise institutional investors, asset managers, public authorities, and key actors in international capital market

New Website Coming in Days

We are currently putting the finishing touches on a re-designed GRI website. Expect the launch in early February. In addition to a more streamlined structure and easier navigation, the improved site will also include extensive new content. The website address will remain the same www.globalreporting.org.

More Organisations Use the Guidelines

We have been informed that the organisations listed below have prepared reports using the Sustainability Reporting Guidelines. By listing a company name GRI does not certify the reports conformance to the Guidelines.

· ABN-AMRO (Netherlands)

· Allied Domecq (United Kingdom)

· AMR (USA)

· Boots (United Kingdom)

· Cognis (Germany)

· Coillte (Ireland)

· Deutsche Telekom (Germany)

· Energex (Australia)

· Ford Lio Ho Motor Company (Taiwan)

· Hitachi (Japan)

· Intel (USA)

· Lafarge (France)

· Lonmin (United Kingdom)

· Metro Group (Germany)

· Novartis (Switzerland)

· Wisconsin Energy Corp. (USA)