GRI vs TCFD
GRI and TCFD are frequently used together — GRI for broad impact-materiality sustainability reporting, TCFD for investor-focused climate risk disclosure. TCFD is now absorbed into ISSB and ESRS, making the GRI-TCFD relationship increasingly a GRI-ESRS relationship. Here is how to navigate the frameworks efficiently.
GRI and TCFD are frequently used together — GRI for broad impact-materiality sustainability reporting, TCFD for investor-focused climate risk disclosure. Before TCFD was disbanded in October 2023, GRI and TCFD were the two most widely used sustainability disclosure frameworks for large companies — GRI for comprehensive impact disclosure, TCFD for climate risk financial disclosure.
GRI and TCFD — the historical relationship
Before TCFD was disbanded in October 2023, GRI and TCFD were the two most widely used sustainability disclosure frameworks for large companies — GRI for comprehensive impact disclosure, TCFD for climate risk financial disclosure. Many companies produced both a GRI sustainability report and a TCFD-aligned climate disclosure.
The overlap: GRI 305 (Emissions) covers Scope 1, 2, and 3 GHG emissions — directly aligning with TCFD's metrics and targets pillar. GRI 201-2 (climate financial implications) covers climate-related financial risks and opportunities — aligning with TCFD's strategy pillar. GRI 2 governance disclosures overlap with TCFD's governance pillar.
The gap: TCFD's most distinctive requirement — climate scenario analysis and resilience assessment — has no direct GRI equivalent. GRI focuses on current impacts and management approaches; TCFD focuses on forward-looking scenario resilience. This gap is why companies used both frameworks: GRI for comprehensive current-state disclosure, TCFD for forward-looking climate risk analysis.
Post-TCFD: With TCFD disbanded, its recommendations live on in IFRS S2 (ISSB) and ESRS E1 (CSRD). Both explicitly incorporate the TCFD four-pillar structure. Companies previously reporting TCFD are now reporting ISSB or ESRS E1 — with GRI providing the complementary impact materiality layer.
The GRI-ESRS E1 relationship — the current reality
For EU companies subject to CSRD, ESRS E1 has replaced TCFD as the primary climate disclosure framework. GRI complements ESRS E1 by providing the impact materiality perspective that ESRS E1 partially covers but that GRI covers more completely.
ESRS E1 covers: the TCFD four pillars fully (governance, strategy, risk management, metrics); Paris alignment disclosure; transition plan; physical and transition risk scenario analysis; and financial effects quantification. This exceeds what TCFD required.
GRI adds beyond ESRS E1: GRI 305 requires GHG reduction initiatives disclosure (305-4, 305-5) — actions taken specifically to reduce emissions during the reporting year — which ESRS E1-3 covers at a higher level but with less specific action-level granularity. GRI's impact materiality framing — how the company's emissions affect the climate — complements ESRS E1's financial materiality framing.
For companies reporting both GRI and ESRS E1: use ESRS E1 as the primary climate disclosure framework — it is the more comprehensive and legally required standard. Extract GRI 305 disclosures from ESRS E1-6 data with minor additional data points for GRI-specific requirements. Reference ESRS E1 sections in the GRI Content Index for overlapping disclosures — avoiding duplication while satisfying both frameworks.
Practical dual reporting — GRI plus ESRS E1
For companies reporting both GRI and ESRS E1 (CSRD companies that also use GRI), an efficient integrated approach minimises duplication:
Data collection: Collect Scope 1, 2, and 3 GHG data once — for ESRS E1-6. This data satisfies GRI 305-1 (Scope 1), 305-2 (Scope 2, both methods), and 305-3 (Scope 3 by category) simultaneously. GRI 302 energy data collection satisfies ESRS E1-5 simultaneously.
Narrative content: ESRS E1 requires more detailed quantification and scenario analysis than GRI. Prepare ESRS E1 content to the higher standard — then use the same content for GRI, noting that the ESRS E1 disclosure in the sustainability report also satisfies the GRI climate Topic Standards.
GRI Content Index: For climate-related GRI disclosures, reference the ESRS E1 sections of your sustainability report as the location. GRI allows this cross-referencing approach — pointing to another part of the report rather than repeating content. This eliminates duplication while maintaining both GRI and ESRS E1 compliance.
Some companies publish a single integrated report with dual content indexing — a GRI Content Index AND an ESRS topic content list both pointing to the same report sections. This is the most efficient approach for dual reporters.
Frequently asked questions
Do we still need a TCFD report now that TCFD has been disbanded?
If you are subject to mandatory TCFD reporting (UK-listed companies, certain large UK private companies), the mandatory requirement continues under UK regulations — even though the TCFD itself has disbanded. The UK adopted UK SDS (aligned with IFRS S2/TCFD) from January 2026 as the replacement framework. If you voluntarily reported TCFD, transition to ESRS E1 or IFRS S2 disclosure as appropriate for your regulatory context.
Can we reference our ESRS E1 disclosure to satisfy GRI 305 requirements?
Yes — GRI allows cross-references to other parts of the report or other documents. Where your ESRS E1-6 disclosure satisfies GRI 305 requirements, reference it in the GRI Content Index. The data does not need to be reproduced separately for GRI — the cross-reference approach is valid and encouraged by GRI to reduce reporting burden.
How does GRI 201-2 relate to ESRS E1-9 financial effects?
GRI 201-2 (financial implications and other risks and opportunities due to climate change) and ESRS E1-9 (anticipated financial effects) cover the same topic — the financial impact of climate risks and opportunities on the company. ESRS E1-9 is more detailed and requires quantification; GRI 201-2 allows more qualitative disclosure. Prepare ESRS E1-9 to the higher standard — it satisfies GRI 201-2 automatically.