ESG Certification Guidance
ESG certification is a process by which a company’s environmental, social, and governance (ESG) practices and performance are independently verified and evaluated against established standards. Several organisations offer ESG certifications, each with its specific criteria and guidelines. However, making sense of the ESG Certification process can be challenging. For instance, B Corporation Certification is only achieved by one-third of the companies that undertake the non-profit organisation’s assessment and verification process.
Here are some general steps companies can follow to pursue ESG certification:
- Determine the proper certification: Choose a certification that aligns with your company’s ESG priorities and values, and research the requirements and processes involved: BREAAM, ISO 14001,B corp or others.
- Assess your ESG practices to ensure you meet the required standards
- Prepare for certification: Develop a plan to address any areas of weakness identified in the self-assessment and prepare any necessary documentation, such as sustainability reports or policy statements.
- Apply for certification: Apply for accreditation to the chosen certifying organisation, providing all required information and documentation.
- The certifying organisation will evaluate your company’s ESG practices and performance and may conduct an on-site assessment or review additional information. Upon completion of the evaluation, the certifying organisation will issue a certificate of compliance or make recommendations for improvement.
It’s important to note that ESG certification is a continuous process, and companies must maintain their ESG practices and performance over time to maintain their certification status.
The specific requirements and guidance for ESG certification will vary depending on the certifying organisation, so it’s essential to research and understand the certification requirements you are pursuing.
January 2, 2022