IWA 48:2024

PRF IWA 48
ISO/WS ESG
Date:  2024-11
CD IWA 48(en)
Secretariat:  BSI
Date: 2024-10-29
Framework for implementing environmental, social and governance
(ESG) principles
CDPRF IWA 48:2024(en)
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CDPRF IWA 48:2024(en)
Contents
Foreword . iv
Introduction . v
1 Scope . 1
2 Normative references . 1
3 Terms and definitions . 1
4 Principles and practices in ESG. 2
4.1 Overarching principles . 2
4.2 Risks and opportunities . 2
4.3 Accountability and transparency . 7
4.4 Identification and engagement of interested parties . 7
4.5 Materiality . 10
4.6 KPI measurement framework for ESG standardized reporting . 13
4.7 Further information . 15
5 Environmental . 15
5.1 General . 15
5.2 Environmental framework . 16
5.3 Examples of actions in relation to environmental considerations . 18
5.4 Environmental KPIs . 19
5.5 Further information . 20
6 Social . 21
6.1 General . 21
6.2 Social framework . 22
6.3 Examples of actions that can be undertaken in relation to social dimensions . 23
6.4 Social KPIs . 26
6.5 Further information . 27
7 Governance . 28
7.1 General . 28
7.2 Governance framework . 28
7.3 Examples of actions based on governance aspects . 30
7.4 Leadership . 32
7.5 Organizational culture and commitment . 34
7.6 ESG communications . 35
7.7 Governance KPIs . 38
7.8 Further information . 39
8 Compliance and conformity . 39
8.1 General . 39
8.2 Difference between compliance and conformity . 40
8.3 Conformity assessment . 40
9 Reporting . 42
9.1 General . 42
9.2 Reporting principles and quality . 43
9.9 Assurance . 49
9.10 ESG and reporting schemes/directives . 50
9.11 Further information . 51
10 Continual improvement . 51
Annex A (informative) Assurance and conformity assessment . 53
Annex B (informative) Workshop contributors . 58
Bibliography . 59

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CDPRF IWA 48:2024(en)
Foreword
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International Workshop Agreement IWA 48 was approved at a workshopvirtual workshops hosted jointly by
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Standards Council of Canada (SCC, held via Zoom), in October 2024.
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Introduction
0.1 What is ESG?
Environmental, Socialsocial and Governancegovernance (ESG) – is a strategic and operational framework that
aims to assist organizations, of any size and type, to implement and report on their activities, products,
services and commitment to support the achievement of sustainable development, social justice and good
governance. Adopting ESG brings a clearer focus on an organization’s impacts on the environment and the
society, including contribution to the delivery of the United Nations (UN) Sustainable Development Goals
[1]
(SDGs), alongside an evaluation of) , as well as evaluating the impacts of the environment and society on the
organization.
ESG is distinctive for organizations partly because it guides decision-makers attention more on the impacts
and accountability of organizations with respect to communities, the environment and everyday lives.
Regulatory bodies, policy makers, and investors are particularly interested in ESG for this precise reason and
because, everyone has the potential to be an interested party in the outcomes of ESG activities.
Being open, honest, and factual about all aspects of the organization is a positive ESG trait which underpins
good governance, the ‘G’ of ESG, that takes full account of the direct and indirect, individual and collective ‘end-
outcomes’outcomes of organizations’ activities, products and services, and has regard for external influences,
regardless of their source, type, size, or jurisdiction, including their supply chains and customers.
ESG involves accurate and regular reporting of financial and non-financial material impacts. But ESG is not
just about reporting. The focus of this document is deliberately on the implementing and embedding of ESG
practices and values throughout an organization’s culture and activities.
EXAMPLE 1 ESG can include:
— “E”:Environmental (E): climate c
...