Choosing the Right Framework for my Organisation
In today’s world, organisations are increasingly adopting frameworks to ensure they operate responsibly and sustainably. But with so many options available, it can be challenging to understand the differences between them. WRM have prepared a simple guide to help you navigate the most common frameworks: CSR, B-Corp, ISO Management Systems, ESG, Sustainability Strategy, Carbon Reduction Plan and Green Plans.
ISO Management Systems
What it is: ISO standards provide structured frameworks for managing specific aspects of business operations.
Focus: Includes standards like ISO 14001 (Environmental Management), ISO 45001 (Occupational Health and Safety), and ISO 9001 (Quality Management).
Measurement: Compliance with specific requirements and regular audits to ensure adherence to best practices.
Environmental, Social, and Governance (ESG)
What it is: ESG criteria are used to measure a company’s sustainability and societal impact, often used by investors.
Focus: Environmental impact, social responsibility, and governance practices.
Measurement: Quantitative metrics are used to assess performance in each of the three areas.
Sustainability Strategy
What it is: A sustainability strategy is a comprehensive plan outlining how a company will operate in an environmentally and socially responsible manner over the long term.
Focus: Reducing environmental impact, promoting social equity, and ensuring economic viability.
Measurement: Setting and tracking specific sustainability goals, such as reducing carbon emissions and improving energy efficiency.
Carbon Reduction Plan
What it is: A specific strategy aimed at reducing a company’s carbon footprint.
Focus: Initiatives like improving energy efficiency, switching to renewable energy sources, and offsetting carbon emissions.
Measurement: Tracking carbon emissions and progress towards reduction targets.
Green Plans
What it is: Green Plans are strategic documents specifically designed for NHS Trusts and Integrated Care Systems (ICSs) to promote environmental sustainability within the healthcare sector.
Focus: Initiatives such as reducing carbon emissions, improving energy efficiency, sustainable procurement, and waste reduction.
Measurement: Setting and tracking environmental performance indicators, with a focus on achieving net-zero carbon emissions by 2040 (Carbon Footprint) & 2045 (Carbon Footprint Plus) as part of the NHS’s broader sustainability goals.
Corporate Social Responsibility (CSR)
What it is: CSR is a broad concept that encompasses a company’s efforts to have a positive impact on society and the environment.
Focus: Ethical practices, community engagement, and environmental stewardship.
Measurement: Often qualitative, focusing on the overall ethos and values of the company.
B-Corp Certification
What it is: B-Corp certification is awarded to companies that meet high standards of social and environmental performance, accountability, and transparency.
Focus: Governance, workers, community, environment, and customers.
Measurement: Involves a rigorous assessment process to evaluate the company’s impact across various criteria.
Summary
- ISO Management Systems: Structured frameworks for managing specific business operations.
- ESG: Specific, quantitative focus on environmental, social, and governance metrics.
- Sustainability Strategy: Long-term plan with specific goals for environmental and social responsibility.
- Carbon Reduction Plan: Strategy focused on reducing carbon emissions.
- Green Plans: Strategic documents for NHS Trusts and ICSs to promote environmental sustainability.
- CSR: Broad, qualitative focus on ethical and responsible business practices.
- B-Corp: Certification for high social and environmental performance.
Each framework and strategy has its unique focus and scope, and the choice of which to adopt depends on your company’s specific goals, industry requirements, and stakeholder expectations. By understanding these differences, you can choose the best approach to ensure your business operates responsibly and sustainably. If you are unsure which framework to choose, WRM can help. Contact one of our team today, to book a free evaluative consultation and take your first steps in the journey towards sustainability and improved organisational performance.
