RELEASE OF THE ESG 1000® NON-FINANCIAL GOVERNANCE CERTIFICATION STANDARD
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COFICERT
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Press Release Luxembourg, the 29th of January 2025 – 8:00 A.M.
RELEASE OF THE ESG 1000® NON-FINANCIAL GOVERNANCE CERTIFICATION STANDARD
The IGSF - International Group for Sustainable Finance, an NGO based in Luxembourg, announces the release of the ESG 1000® certification standard (Environmental, Social, and Governance - Index 1000), dedicated to the non-financial governance of companies and organizations. The publication of a certification standard dedicated to non-financial governance (historically referred to as a "CSR management system") by the Standardization Body IGSF marks a significant milestone in advancing towards sustainable development. The ESG 1000® certification standard stands out, on the one hand, for its certifying nature in an international environment heavily dominated by labeling systems, and on the other hand, for its unique approach to measuring overall performance. It aligns economic performance with objectives related to non-financial governance, with the aim of promoting sustainable growth and ensuring the fair distribution of the value created. For companies and organizations certified under the ESG 1000® standard, the certification provides a tool for validating, enhancing, and strengthening their non-financial commitments. The IGSF aims to deploy the ESG 1000® standard in over 50 countries within the next five years, through duly authorized certification bodies. In a rapidly evolving regulatory environment, marked by profound structural and contextual transformations, economic actors have oriented and initiated the transition of their business models. Environmental challenges have, in fact, accelerated the general awareness of the responsibilities incumbent upon companies and organizations of all types. In response, ESG 1000® is built on the principle of positioning entities within a global vision, taking into account their objectives for non-financial governance. The goal is to fully engage companies in an integrated approach, ensuring genuine and effective commitment, rather than confining them to diffuse or limited policies. Within a particularly heterogeneous regulatory ecosystem at the international level, the ESG 1000® standard defines and consolidates a specific scope and evaluation criteria within a standardized and universal approach. This approach incorporates the most globally recognized frameworks for non-financial governance, including the GRI Standards, the ESRS standards (under the European CSRD directive), ISO 26000, ISO 14000, the Global Compact principles, the UN Guiding Principles, and others. The objective is to enable companies and organizations to mitigate foreseeable non-financial risks associated with their activities, align with regulatory requirements, and demonstrate to all their stakeholders the reliability of their non-financial management systems. Evaluation Approach and Certification Process to the ESG 1000® Standard The ESG 1000® Standard is designed to analyze and compare a system against best practices and current regulations, which are listed, grouped, and defined within a single, unified framework. The certification process aims to ensure that the management system promotes the widespread adoption of good non-financial governance practices. This dissemination should encompass all the entity’s activities, branches, establishments and stakeholders, with the goal of validating the consistency between the stated objectives and the behaviors observed within the entity. The standardized nature of the certification approach also ensures process uniformity and a shared understanding among all stakeholders of an entity. This facilitates the delivery of tangible assurances regarding overall performance, encompassing both economic and non-financial performance.
A Tool for Communication and Value Enhancement Certification to the ESG 1000® standard serves as a benchmark and a recognized quality indicator for non-financial compliance. The certification directly contributes to the valuation process and enhances the attractiveness of an organization by reassuring all its stakeholders (creditors, investors, shareholders, business partners, clients, suppliers, etc.) about the quality of its non-financial governance. It also demonstrates a concrete commitment to evolving its system toward greater effectiveness for a tangible impact. The IGSF -International Group for Sustainable Finance The IGSF - International Group for Sustainable Finance, A.S.B.L., is the organization responsible for the development and dissemination of the ESG 1000® standard. It is a global standardization body specializing in financial and non-financial governance, based in Luxembourg and chaired by Madame Véronique de La Bachelerie. The IGSF primarily operates on two fronts: first, the technical organization of financial and non-financial governance standards by listing the normative requirements for each standard; and second, the dissemination of standards and best practices more broadly. The topics addressed by the IGSF notably include issues related to combating financial crime, financial governance, and the non-financial governance of companies and organizations of all types. Veronique de la Bachelerie, President of the IGSF - International Group for Sustainable Finance "The ESG 1000® standard embodies a deep commitment to responsible and sustainable management. In a context where stakeholder expectations are evolving significantly, ESG 1000® provides a robust framework for aligning economic performance with ethical and environmental practices. This is a decisive step toward more transparent governance and the creation of shared value, essential for building a resilient and equitable future." Christian Levesque, President of the ESG 1000® Scientific Committee "My career and experience as President and Head of Delegation for various ISO Standardization Committees on behalf of the Canadian government allow me to confidently state that the ESG 1000® certification goes far beyond a simple management tool. It provides companies with tangible validation of their commitment to non-financial governance while strengthening their credibility and improving their practices and policies." Alexandre Rambaud, Vice-President of the ESG 1000® Scientific Committee "It is increasingly recognized at the international level that corporate performance can no longer be understood solely from a financial perspective; overall performance, encompassing financial, social, and environmental aspects, must prevail. The advancement of integrated accounting (combining financial and non-financial information) and, in particular, the standardization of sustainability accounting, is a key factor in establishing the principles underpinning the ESG 1000® standard."
CONTACT IGSF – International Group for Sustainable Finance : press@igsf.org AELIUM – Financial Communication : Solène KENNIS : skennis@aelium.fr; +33 (0)1.75.77.54.68
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2076539 29-Jan-2025 CET/CEST
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