Towards ESG 1000: Certification Standard and Call for a Tunisian Fund
A new framework of excellence for CSR
Towards ESG 1000
The creation of the ESG 1000 standard in 2023 marks a key event in the field of certification of commitments related to Corporate Social Responsibility (CSR). Led by a committee of independent experts chaired by Christian Levesques, and governed by the IGSF standards body under the chairmanship of Véronique De la Bachelerie, this standard has established itself as a reference framework for assessing and certifying CSR management systems.
One could say that the ESG 1000 standard is a certification-focused evolution of the principles addressed in the ISO 26000 standard, but it is important to note that these two standards differ in their nature and objective.
The ISO 26000 standard offers non-binding guidelines for CSR. It provides recommendations on how organizations should engage in ethical and responsible practices.
However, it does not provide a formal certification process to attest to a company’s compliance with these recommendations.
In contrast, the ESG 1000 standard is a specific certification standard focused on ESG (environmental, social, and governance) criteria. It assesses and certifies companies that meet specific, predefined CSR criteria.
The ISO 26000 standard acts as a guide that encourages organizations to adopt responsible practices, while the ESG 1000 standard goes further by certifying that companies actively comply with specific ESG criteria.
While there may be principles within the ESG 1000 standard that date back to ISO 26000, it differs in several respects. First of all, by its certifying nature, but also, by a scope and specific evaluation criteria integrating the most recent standards including the ESRS standards of the new European CSRD directive, the fourth version of the GRI standards, the Global Compact, the United Nations guiding principles, ISO 37001, AML 30000, and others. But first of all, it should be noted that ESG 1000 aims for an overall performance approach to align the economic performance and CSR performance of an entity.
Why adopt certification
ESG 1000?
ESG 1000 certification addresses a range of internal and external business needs, offering several benefits:
Structuring and improving the CSR approach: A structured framework to improve & structure CSR practices.
Responding to stakeholder expectations: Responds to the expectations of different stakeholders, strengthening relationships with them.
Identification & management of ESG risks: Enables the proactive identification and management of ESG risks related to the activity.
Response to regulatory obligations: Helps to comply with regulatory requirements regarding CSR.
Sanctions Prevention and Reputation Protection: Helps avoid sanctions and protects the company's brand image.
Enhanced attractiveness and competitiveness: Confers a solid competitive advantage, attracting investors & stakeholders sensitive to CSR issues.
Valuation tool and decision support: Guides CSR decisions.
Attracting and retaining talent: Strengthens the ability to attract and retain employees who share values of responsibility.
Facilitating access to finance and investment: Enables better access to sources of sustainable and responsible finance and investment.
Commitment to sustainable growth: Promotes more responsible and sustainable growth for the company.
Towards ESG 1000: Certified Standard & Call for a Tunisian Fund