Sustainable business has become the new trend to preserve the future for the present generation. Summing sustainability in different standards provides an opportunity for companies and establishments to follow certain standards and rules:-
A set of standardized requirements is provided for quality analysis of the management system irrespective of what the organization is entitled to its work, size, or if it’s in the public or private sector. The standard does not require a mandatory certification but the organization can apply for it. The standard intends to improve the product and service quality and is related directly to enhancing financial-economic sustainability performance (ESP) and also to non-financial GSEE dimensions for sustainable performance.
The standard evaluates various environmental management, assessment of risk, reporting, and auditing in the dimension of sustainable performance.
The standard is entitled to Sustainability events addressing the resources, society, and the environment. The sustainability efforts, events are guided by this standard for best practices following to control social, economic, and environmental impacts. The benefits are offered for corporate infrastructure and supply chain management.
The standard is globally accepted for social responsibility to assist organizations in guidance documents and fulfilling CSR goals. A broad range of organization’s activities from economic to social, governance, ethics, and environmental issues are covered by ISO 26000. The goal is not just maximizing profit but by a framework being presented for organizations so that sustainable development can be contributed to social welfare.
The three main aspects of ISO 26000 circulate People, Planet, and Profit.
- Companies are encouraged by ISO 26000 so that human rights can be recognized as a critical aspect of social responsibility to ensure countries are operating concerning political, civil, social, and cultural rights for citizens.
- Sustainable resource management is promoted by ISO 26000 standards so that business organizations are ensured that the environment is not exploited where they are operating.
- The business organization aims to earn profits in a socially responsible way so that shareholder value is ensured for its creation and achieving the desired rate of return on its investment.
The goal is to suggest requirements and guidelines provided for securing assets information and keeping the information so that organizations can offer guides in the information security management system (ISMS). The approach is handled to manage sensitive information and the helping in protecting the integrity or identify the risks associated with information important and needed for controlling activities in designed and managing to implement the risky activities.
The standard can be implemented for any type of organization by setting out principles, frameworks, or management processes for risks that apply to the public or private sector. The guidelines help in assessing the risks associated with five EGSEE dimensions in sustainable performance such as strategic, financial, compliance, operational, supply chain, cyberattack, and reputational risks.
The standard helps in promoting improving the product and service quality that affect directly the earning. Ensuring compliance with environmental regulations and social standards measuring the governance strengthen and ethical value to improve the sustainability effectiveness performance.
It provides certifications for sustainable performance regarding external assurance about the credibility and legitimating the integrated sustainability reports available in disseminating the stakeholders.
What do you think about which standard needs to be implemented for your organization to maintain a sustainable business?
Source:- Business Sustainability in Asia.