## The Growing Importance of ESG Parameters
In recent decades, attention to ESG (environmental, social, and governance) parameters has significantly increased in response to a growing market demand for information beyond traditional financial indicators. This phenomenon gained momentum starting in the 1990s, with initiatives such as the European Green Deal and the Sustainable Finance Action Plan, which highlighted the crucial importance of sustainable practices for organizations.
### The Strategic Role of Sustainability Policies
At the heart of this transformation is the development and updating of sustainability strategies at the corporate level. Organizations are now called upon to integrate ESG criteria into their daily operations, considering the Sustainable Development Goals 2030 (SDGs) and the guidelines provided by the Corporate Sustainability Reporting Directive (CSRD). This European directive, introduced in 2022, emphasizes the importance of implementing sustainable practices and providing transparency regarding the social and environmental impacts of business activities.
### Building Trust Through Accredited Verifications
A key element in increasing trust in ESG information is represented by verifications and validations accredited according to the ISO/IEC 17029 standard. These procedures offer numerous advantages:
1. **International Recognition**: They ensure mutual recognition of results globally, facilitating the comparability of information.
2. **Role Separation**: They help to avoid conflicts of interest through a clear separation of responsibilities among the various actors involved, such as the scheme owner, the accreditation body, and the verification organization.
3. **Error Reduction**: They provide cross-checking opportunities, allowing for more accurate verification of information.
4. **High-Quality Information**: They improve the quality of data used by organizations to establish ESG goals and strategies.
5. **Certainties for Stakeholders**: They provide guarantees regarding the compliance of accredited bodies with international standards.
6. **Cost Efficiency**: They promote mutual recognition of ESG ratings, thus increasing economic efficiency for all parties involved.
### Towards Shared Rules in the Sector
Currently, various approaches are underway to establish a common guideline concerning ESG ratings in the economic and financial sector. Among the ongoing initiatives, the European Parliament’s Proposal for a Regulation stands out, aimed at ensuring greater transparency and integrity in ESG rating activities.
The lack of shared rules has led to unacceptable misalignments, manifesting in two main problematic areas:
– **Transparency in Ratings**: There is a clear lack of clarity regarding the characteristics of ESG ratings, their methodologies, and the data sources used. This represents a significant obstacle for those seeking to understand and effectively assess the risks and opportunities related to ESG factors.
– **Operation of Rating Providers**: The lack of information on how ESG rating providers operate further complicates decision-making for users and investors.
According to some expert observations, the ratings currently in use are not sufficient to allow investors or those being rated to make informed decisions regarding the risks and impacts related to ESG factors.
### Conclusions
In an increasingly sustainability-focused global context, ESG parameters have become an urgent necessity for organizations. The commitment to integrating these criteria into corporate strategies not only fosters greater transparency but also represents a fundamental step in addressing contemporary social and environmental challenges.
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