Environmental, Social and Governance Frameworks
ESG frameworks enable an organization to identify impacts, assess their significance, and prioritize them based on the organization's context
Identifying, monitoring, and reporting on environmental, social and governance (ESG) elements is important to limit negative impacts or enhance positive impacts of an organization's activities. The number of sustainability frameworks widely in use has grown over the last decade, with some frameworks intended to apply to any organization in any location with any type of activity (such as the GRI Standards) and other frameworks intended to be used for specific types of projects or industries. Sustainability is widely accepted as including three pillars (social, economic and environmental or people, planet prosperity).
Management Systems and Sustainability Frameworks
Sustainability management systems or environmental management systems are important tools for an organization to properly integrate sustainability and environmental process into decision-making in all aspects of an organization's activities. Adherence to standards for management systems (such as ISO 14001) or sustainability frameworks (such as GRI or Envision) enables an organization to demonstrate that its process are robust and aligned to international best practice.