Joint Co-Operators:

 At the heart of the SDS PRIME is a set of Credibility Principles of Int’l Initiative Structures Principles that represent the core values upon which effective standards are built.

 

1- Sustainability Approach

Defining the sustainability objectives of the system and the approach to achieving them ensures that the system is aligned and oriented towards sustainability. Standards systems that have their sustainability objectives at the heart of their operations are more likely to make decisions that are in the best interests of society and the environment, rather than primarily for their own profit or benefit.

The way in which an organization defines sustainability (which is usually through its standard), in and of itself, has profound impacts on its credibility and effectiveness. Communicating these objectives ensures that stakeholders are clear on what the system seeks to achieve.

Sustainability performance indicators (SPI) are used as a tool to measure a company’s performance and to monitor and orient to future progress. SPI can be grouped in three areas covering either the economic, environmental or social aspects of sustainability.

Economic performance indicators: company turnover, profit, quantity of products sold, etc.

Social performance indicators: labor practices, human rights, and broader issues affecting consumers, community, and other stakeholders in society.

Environmental performance indicators: greenhouse gas emissions, water consumption, waste output, etc.

 

2- Transparency

 

Transparency is a cornerstone of a credible sustainability standards system. Fundamentally, it builds trust in the process by allowing stakeholders to understand how decisions are made or how content is determined. This allows stakeholders to then make their own decisions about the validity or legitimacy of the process, or to submit additional or corrective information.

 

3- Truthfulness

 

Responsible investment is an approach to investment that explicitly acknowledges the relevance to the investor of environmental, social and governance (ESG) factors, and the long-term health and stability of the market as a whole. It recognizes that the generation of long-term sustainable returns is dependent on stable, well-functioning and well governed social, environmental and economic systems.

Mounting evidence of the financial materiality of ESG issues, alongside growing demands from regulators, clients and beneficiaries for more sustainable approaches to investment, are among the key drivers behind the adoption of responsible investment practices worldwide. Increasingly, investors concerned about the impact of short-termism within investment research, asset allocation, and performance monitoring recognise that integrating ESG issues into both investment analysis and stewardship practices forms part of their fiduciary duty to clients and beneficiaries and want to see their portfolios managed in a way that systematically assesses drivers of risk and return over longer timeframes.

 

4- Improvement

 

 A continuous improvement approach, combined with a robust monitoring and evaluation programme supports an understanding of what practices and strategies are working and why, and enables refinement of those practices to improve effectiveness of the standards system over time. As sustainability is an evolving concept, standards systems need to regularly review their standards to determine whether revisions are necessary to capture innovations and evolving understanding of good practice.

 

 

 

 

5- Community Engagement

 

Social impact assessments (SIAs) enable companies to anticipate the socio-economic impacts of a project. This enables them to find ways to minimize the negative impacts and enhance the positive ones. SIAs often take place alongside or integrated with environmental impact assessments (EIAs) and other specialized assessments on issues such as conflict, health, human rights and indigenous peoples.

SR monitor has produced a guide that outlines the use of SIAs by the industry. It provides managers, or new projects, with an understanding of how to make the best use of SIAs.

 

6- Efficiency

 

Standards systems refer to or collaborate with other credible schemes to improve consistency and efficiency in standards content and operating practices. They improve their viability through the application of sound revenue models and organizational management strategies. Where standards systems overlap, either in the content of their standard or in the sector or entities to which the standard applies, improved consistency and compatibility between systems leads to increased operational efficiencies and opportunities for scaling up the impacts that result. It also helps to avoid duplication or minor inconsistencies that decrease accessibility and could then be perceived as barriers to trade. Coordination and communication between systems can also help to avoid ‘double counting’ of certified product for more than one standard which can result in loss of credibility.

 

7- Impartiality

 

Fairness is essential in a credible standards system, and striving for impartiality in all areas is key in achieving this. However, many scenarios for potential conflicts of interest exist within a standards system, and these must be sufficiently managed. Greater transparency is one of the best ways to deal with conflict of interest and should be at the core of any policy or strategy – not serving as a substitute for rules and oversight, but rather reinforcing them and allowing more flexibility where appropriate.

Impartiality is particularly crucial in the assurance process of a standards system. Assurance is a proxy for a direct connection between the producer and the consumer, and between the entity being assessed and the claim being made. The assessment is intended to establish a credible level of assurance that practices conform with the standard’s requirements. As such, it is critical that consumers and other stakeholders, including producers, have confidence in the assurance process. This derives in large part from the actual and perceived impartiality and the effective management of conflict of interest within the assurance process.

 

8- Relevance

 

Standards are fit for purpose. They address the most significant sustainability impacts of a product, process, business or service; only include requirements that contribute to their objectives; reflect best scientific understanding and relevant international norms; and are adapted where necessary to local conditions.

While global standards should aim to harmonize performance for certified entities in different parts of the world, they should recognize and account for the variation in these natural and social systems. Standards that are not adapted to local conditions or different scales of operation can be irrelevant or, at worst, discriminatory.

 

9- Accountability

 

In standards development and certification, interested parties have an equal right to participate. Standards systems must be accessible to encourage participation by potential users.

 

10- Social Health

 

Social Health is the ability to manage life with some degree of independence despite a medical condition, and the ability to participate in social activities including work

Social Health in OCDP involves human capital that invests in education, health, and nutrition of individuals and is now accepted as a part of economic development. Social Health Performance Measuring is consist of operational definitions are needed for measurement purposes, research, and evaluating interventions.