The International Organization for Standardization (ISO) has launched new guidance principles at COP29, to better enable businesses to navigate the complex ESG landscape and accurately measure, report and communicate their activities.
The new ISO ESG Implementation Principles were launched following a surge in ESG regulations around the world – up by 155% in the past decade – with firms now having to navigate various pieces of legislation.
According to ISO, the new guidance, which are tailored to firms of all sizes (as well as academic and research facilities, and NGOs) will facilitate more consistent reporting and enabling firms to comply with disclosure requirements.
‘Effective and transparent’
‘The principles are designed to support effective and transparent sustainability practices through a standardised structure which provides organisations with all the information needed to achieve their ESG ambitions, regardless of where they are on their journey,’ the ISO said in a statement.
‘The document facilitates the integration of ESG principles into organisational culture, enabling a more effective system for performance and reporting. By addressing environmental impacts (such as carbon foot printing and waste management), social considerations (like diversity and human rights), and governance practices (transparency and regulatory compliance), organisations can apply a truly holistic approach. This encourages a balanced, sustainable growth strategy, helping to accelerate progress toward a more sustainable world.’
The principles were developed through collaboration among national standards bodies, including the British Standards Institution (BSI), the Standards Council of Canada (SCC), and the Brazilian Association of Technical Standards (ABNT). Contributions were provided by over 1,900 industry experts from 128 countries.
‘Foster a lasting culture’
“ISO’s ESG implementation principles will foster a lasting culture of ESG that will bring real value to organisations, governments, investors, and consumers,” said Sergio Mujica, secretary general, ISO. “These guidelines will help accelerate the adoption of sustainable business practices, which benefits diverse communities and the environment.
“Importantly, these guidelines can be used by all organisations in all sectors and could particularly benefit SMEs and organisations in developing countries. We are proud of this initiative, and to be launching it during COP29.” Read more here. [Photo: UN Climate Change]
