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Start with the question each framework asks
IFRS S1’s overview identifies effects on cash flows, access to finance and cost of capital over short, medium or long horizons. GRI 3 describes determining material topics from significant impacts, including human-rights impacts. These perspectives can intersect; they are not proof that every metric or unit must differ.
| Perspective | Question to investigate |
|---|---|
| Sustainability-related financial information | How could the risk or opportunity affect the entity’s prospects? |
| Impact reporting | What are the organisation’s most significant impacts on the economy, environment and people? |
Trace two lines of inquiry in one water-use case
A fictional factory draws water in a drought-prone region. One investigation asks how water shortages could affect its operating costs, production or financing. Another asks how its withdrawals affect access to water for nearby communities and ecosystems. Evidence may overlap, but an answer about production costs alone does not complete the second investigation.
Keep a shared metric’s boundary visible
Both investigations might use the same measured withdrawal volume. To interpret it, identify the site, period, unit, source and coverage. A shared number can contribute to different questions; conversely, two similarly named figures can be incomparable if one includes several sites and the other includes only one.
Avoid a blanket compliance conclusion
The fictional case illustrates the questions, not a full materiality assessment or a statement that a company has complied with either set of standards. Determine applicable requirements and read the relevant standards when preparing an actual report.