The International Organization for Standardization (ISO), whose Spanish representative is the Spanish Association for Standardization, UNE, has published the new global standard IWA 48 Framework for the Implementation of ESG Principles, which will help organizations implement an ESG (environmental, social, and governance) framework.
It was published today during the United Nations Climate Change Conference, COP29, taking place in Baku (Azerbaijan) from 11 to 22 November. ISO and international standards have a prominent presence at COP29, contributing to the fight against climate change, the ecological transition, net-zero emissions, and other areas.
Iván Moya, Head of Sectoral Transformation at UNE, explains in this video the key points of the new standard, which will soon be available in Spanish thanks to the translation led by Spain through the Spanish Standardization Body, and will be included in the UNE standards catalogue. As part of the exceptional sponsorship agreement made by ISO to support global sustainability efforts, it will be freely accessible on the UNE website.
IWA 48 will help organizations determine what aspects to consider and how to address them to implement an ESG framework. Additionally, it applies both in regulated and voluntary frameworks. It is aimed at organizations that are taking their first steps in this area, including medium and small companies, such as those that already have experience and wish to improve and accelerate actions, strategies and results involving sustainability.
It provides guidance on key aspects such as identifying and understanding risks and opportunities, engaging stakeholders, and analysing dual materiality.
The ISO standard divides the implementation of the ESG framework into three areas: environmental, social, and governance, offering considerations for each, examples of specific actions an organization can take, and a list of ISO standards to help in each case.
Moreover, as Iván Moya points out, regarding sustainability reporting frameworks, it provides a series of principles to ensure that the report has both an external impact—towards investors, clients, and stakeholders—and internal impact, promoting an analysis of the organization, its risks and opportunities, or its stakeholders.
Presence of ISO at COP29
ISO has a significant presence at COP29 through the Standardization Pavilion, whose session programme covers the presentation of global standards that effectively address the major challenges facing the planet in areas such as sustainability, climate change mitigation, the integration of ESG criteria, sustainable finance, renewable energy, and others.
