DOES YOUR ORGANISATIONAL GOVERNANCE REFLECT YOUR ESG AMBITIONS?7 December 2021 By Daniel Lucien Bühr, Warren Martin, Michael Neumann, Vivian Bertoluzzi
Good governance – the “G” of ESG – enables a responsible organisation to align its environmental and social ambitions with the fulfilment of its purpose. The publication of ISO Standard 37000, Governance of organizations, now provides an international blueprint for this, with guidelines on how to achieve sustainable long-term value.
A NEW, GLOBAL STANDARD FOR GOVERNANCE
ISO Standard 37000, Governance of organizations (“ISO 37000”) was published on 14 September 2021. It’s the first global standard on good governance and provides a well-structured, comprehensive and easy to follow set of guidelines on which all organisations – regardless of size, type or location – can benchmark their governance systems.
THE IMPORTANCE OF ESG
In an age of unprecedented challenges, public opinion is more demanding of the way that individuals and organisations, including states and corporates, organise and conduct themselves.
The development of environmental, social and governance (“ESG”) principles means that organisations must consider their use of and impact on natural resources, their contribution to social development and the good governance they put in place to generate value for all stakeholders whilst considering the needs of future generations.
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