As the U.S. member body to the International Organization for Standardization (ISO), the American National Standards Institute (ANSI) is seeking prospective experts for a newly formed ISO Strategic Advisory Group on the Environmental, Social, and Governance Ecosystem (SAG ESG). ANSI is also seeking members for the ANSI virtual technical advisory group (VTAG) to support the ANSI experts on the ISO SAG ESG.
At its June 2021 meeting, the ISO Technical Management Board (ISO/TMB) decided to form the new ISO SAG ESG, with the following mandate:
Background on Environmental, Social, and Governance Disclosure Frameworks and Standards
In recent years, organizations have become more responsive to their stakeholders regarding the positive and negative environmental and social impacts of their operations while demonstrating sound governance practices. Organizations disclose these impacts and activities through environmental, social, and governance (ESG) disclosure frameworks and standards.
However, several challenges remain, as there is a lack of harmonization and consensus in proposed ESG frameworks, and lack of guidance on the best ways to transform existing processes and operations to meet the indicators of various ESG frameworks. Additionally, there is lack of trust and stakeholder confidence in the ranking's results from the various frameworks and indices.
ISO's newly published SAG proposal provides details on opportunities for ISO to play a bigger role to ensure that the ESG frameworks continue to have a far-reaching and positive impact. The document also details related work of ISO technical committees (TC) that develop standards to address ESG issues, including ISO/TC 207 Environmental management, ISO/TC 322, Sustainable finance, ISO/TC 309, Governance of organizations, and potentially the new TC on Social Responsibility.
Ultimately, the expected outputs of the ISO SAG ESG are: