Write a short note on reporting principles and standard disclosures under Global Reporting Initiative.

Part 1 of Global Reporting Initiative (GRI) - Reporting Principles and Standard Disclosures - contains reporting principles, standard disclosures, and the criteria to be applied by an organization to prepare its sustainability report 'in accordance with the guidelines. The Reporting Principles are fundamental to achieving transparency in sustainability reporting and therefore should be applied by all organizations when preparing a sustainability report. The Principles are divided into two groups: Principles for defining report content: The Principles for Defining Report Content describe the process to be applied to identify what content the report should cover by considering the organization's activities, impacts, and the substantive expectations and interests of its stakeholders. Principles for defining Report Quality: The Principles for Defining Report Quality guide on ensuring the quality of information in the sustainability report, including its proper presentation. The quality of the information is important to enable stakeholders to make sound and reasonable assessments of performance, and take appropriate actions. There are two different types of Standard Disclosures: General Standard Disclosures: Strategy and Analysis Organizational Profile Identified Material Aspects and Boundaries Stakeholder Engagement Report Profile Governance Ethics and Integrity Specific Standard Disclosures: Disclosures on Management Approach Indicators