Our Frameworks

Grounded in globally recognised standards

All Lumos ESG work is anchored in the two most widely adopted ESG disclosure frameworks — GRI and SASB. We use these not as box-ticking exercises, but as the structural backbone of credible, comparable sustainability programmes.

GRI

Global Reporting
Initiative

GRI Standards — The universal language of sustainability reporting

The GRI Standards are the world's most widely used framework for sustainability reporting, adopted by organisations across more than 100 countries. They provide a comprehensive, modular structure for disclosing a company's most material environmental, social and governance impacts.

We use GRI as the primary reporting structure for our portfolio company work — enabling consistent, comparable disclosures that meet LP expectations and stand up to external scrutiny. GRI's flexibility makes it particularly well-suited to the diverse range of sectors and business models found across PE and growth VC portfolios.

Key Principles

Materiality

Focus reporting on the ESG topics that matter most to the business and its stakeholders — avoiding noise, prioritising signal.

Stakeholder inclusiveness

Engage stakeholders to understand their expectations and incorporate them into the reporting process.

Completeness

Cover all material topics with sufficient depth to enable informed assessment by stakeholders.

Comparability

Report consistently over time to enable meaningful benchmarking and trend analysis.

SASB

Sustainability Accounting
Standards Board

SASB Standards — Industry-specific ESG metrics for investors

SASB Standards are designed with investors in mind. Unlike broader reporting frameworks, SASB provides industry-specific sustainability accounting standards that identify the ESG issues most likely to affect financial performance within a given sector — making them highly relevant for PE and VC due diligence and portfolio monitoring.

We use SASB to bring precision and sector relevance to our work — ensuring the ESG metrics we track and report for portfolio companies are the ones that actually matter to investors, acquirers and analysts in their specific industries.

Key Characteristics

Industry-specific

77 industry standards covering unique sustainability risks and opportunities sector by sector.

Investor-focused

Designed to surface ESG information that is financially material — directly relevant to investment decision-making.

Quantitative metrics

Emphasises measurable, comparable data points rather than narrative disclosure alone.

ISSB-integrated

Now maintained by the IFRS Foundation as part of the ISSB standards — ensuring long-term regulatory relevance.

Framework Comparison

GRI vs SASB — how they complement

We use both frameworks together — each brings something the other doesn't.

Dimension	GRI	SASB
Primary audience	Broad stakeholders — LPs, regulators, employees, community	Investors and financial analysts
Scope	Universal — applicable to any organisation	Industry-specific — 77 sector standards
Focus	Impacts on environment, society and economy	ESG issues likely to affect financial performance
Disclosure style	Narrative and quantitative	Primarily quantitative, metric-driven
Best used for	Annual sustainability reports, LP disclosures	Due diligence, portfolio monitoring, investor reporting

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