"Report content should be balanced and reasonable presentation of the organisation's performance." In the light of above statement, discuss the steps to use the GRI Reporting Framework.

The Global Reporting Initiative (GRI) had launched the fourth generation of its sustainability reporting guidelines: the GRI G4 Sustainability Guidelines (the Guidelines) in 2013. The aim of G4, is to help reporters prepare sustainability reports that contain valuable information about the organization's most critical sustainability-related issues, and make such sustainability reporting standard practice. G4 is applicable to all organizations, large and small, across the world. The Guidelines are now presented in two parts to facilitate the identification of reporting requirements and related guidance. It consist of following two parts- Part 1- Reporting Principles and Standard Disclosures: It contains the reporting principles and standard disclosures and also sets out the criteria to be applied by an organization to prepare its sustainability report in accordance with the Guidelines. Part 2 - Implementation Manual: It contains reporting and interpretative guidance that an organization should consult when preparing its sustainability report. There are two different types of Standard Disclosures. The General Standard Disclosures are applicable to all organizations preparing sustainability reports. The General Standard Disclosures are divided into seven parts: Strategy and Analysis Organizational Profile Identified Material Aspects and Boundaries Stakeholder Engagement Report Profile Governance Ethics and Integrity The Guidelines organize Specific Standard Disclosures into three Categories - Economic, Environmental and Social. The Reporting Principles for Defining Report Content have been designed to assist organizations in identifying material Aspects and their Boundaries and to indicate where their impacts may be identified as material. It does not focus on the financial condition of the organization.