CSR Benchmarking and Assessment

The list below shows a selection of tools companies can use to benchmark and assess their CSR initiatives.

Guidelines

The UN Global Compact (UNGC) emerged in a time of extreme capitalism and globalization in the face of ethical meltdowns and corporate scandals. In 2000, it was understood that governments alone could not address the mammoth issues that humanity faces, and that businesses, which were often a part of the problem, could also become part of the solution. The UN developed a framework of ten principles to guide business in becoming more socially and environmentally responsible. These principles became a Compact with many signatory companies (over 16,000 in 2021). These ten principles are based on internationally agreed conventions and treaties. https://www.unglobalcompact.org/what-is-gc/mission/principles

The OECD Guidelines for Multinational Enterprises (OECD Guidelines) are recommendations from governments to multinational enterprises on responsible business conduct. They provide non-binding principles and standards for responsible business conduct in a global context. The Guidelines cover the topics: human rights; employment and industrial relations; environment; combating bribery, bribe solicitation and extortion; consumer interests; science and technology; competition; and taxation. https://mneguidelines.oecd.org/guidelines/

Standards

ISO 26000 (Social responsibility) provides guidance to those who recognize that respect for society and environment is a critical success factor. As well as being the “right thing” to do, application of ISO 26000 is increasingly viewed as a way of assessing an organization’s commitment to sustainability and its overall performance. https://www.iso.org/iso-26000-social-responsibility.html

ISO 14000 Family (environmental management) is a series of environmental management standards provide a guideline or framework for organizations that need to systematize and improve their environmental management efforts. Specific guidelines for SMEs are available. The standard does not seek establishing environmental performance requirements. https://www.iso.org/iso-14001-environmental-management.html

The SA 8000 (social accountability) is an auditable social certification that encourages organizations to develop, maintain, and apply socially acceptable practices in the workplace. https://sa-intl.org/

The Higg Index is an apparel and footwear industry self-assessment standard for assessing environmental and social sustainability throughout the supply chain. I was developed and launched by the Sustainable Apparel Coalition (SAC). https://apparelcoalition.org/the-higg-index/

Certifications and labels

Fairtrade is a widely recognized sustainability label. Their goals are to provide comfortable salary to farmers as well as improved social and environmental standards and focus on commodities, or products that are typically exported from developing countries to developed countries (e.g. coffee, cocoa, sugar, fruit, flowers, gold). For Fairtrade goods, there is a minimum price for farmers or producers. If the market price for that product is higher than the minimum price, then producers should receive the market price. https://www.fairtrade.net/

Rainforest alliance´s goal is to "protect forests, improve the livelihoods of farmers and forest communities, promote their human rights, and help them mitigate and adapt to the climate crisis". https://www.rainforest-alliance.org/

Forest Stewardship Council promotes responsible management of the world's forests. https://fsc.org/en

Indices

The S&P Global Corporate Sustainability Assessment (CSA) provides detailed ESG benchmarking insights to better integrate sustainability and business strategy (also referred to as the DSJI Dow Jones Sustainability World Index as a division of S&P). https://www.spglobal.com/esg/csa/yearbook/ranking/

The NASDAQ OMX Green Economy Index is a founding member of the UN Sustainable Stock Exchanges initiative. The National Association of Securities Dealers Automated Quotations (NASDAQ) publishes many indices on the financial performance of its listed companies as well as several sustainability indices. https://indexes.nasdaqomx.com/Index/Overview/qgreen