The Global Reporting Initiative (GRI) is an independent organization that helps businesses and other organizations take responsibility for their impacts, by providing them with the global common language to communicate those impacts. Companies are assessed by the GRI Standards, which are the world’s most widely used standards for sustainability reporting. Several indicators also help to measure the circularity of a company, such as water, material, energy, and waste management along with their emissions and biodiversity. With the addition of a new approach to their waste standard, Waste 2020, achieves to reflect the importance of creating value from waste, instead of treating it as a burden.

The linear, "take-make-waste" approach is leading to a global waste crisis, and the global attention to waste generation and its effect on the climate, society, and economy is increasing. A new approach to reporting is necessary as the world transitions toward a more circular economy, in which waste is treated as input material for output.

The GRI 306: Waste 2020 reporting standard is the first internationally applicable reporting standard for businesses to provide a complete image of waste impacts across their value chain. This Standard alters how businesses calculate and comprehend waste, and it facilitates reporting on the waste-related effects of operations, goods, and services, allowing businesses to recognise circularity and waste-prevention opportunities.

The Waste Standard represents global best practices in waste management and motivates businesses to make changes to strengthen their waste practices by including revised disclosures, circularity, and waste reduction principles. It strengthens the importance of creating value from waste, instead of treating it as a burden.