Validation Process
The objectivity that creates confidence.
The objectivity that creates confidence.
The ESG rating consists of an evaluation of the level of exposure to predictive ESG risks.
The only way to estimate predictive ESG risks with a reasonable level of assurance is to conduct an on-site assessment.
The evaluation at the company's premises conducted by certified assessors [GIF AP Assessor] constitutes the distinctive element to confirm the truthfulness of information relating to the past and the plausibility of assumptions for future use.
At the end, the company receives:
-a detailed final report highlighting strengths and areas for improvement
-the validation of the assertion "GIF Responsible Organization".
The ESG Rating is issued with a reasonable level of assurance.
The evaluation process of the ESG rating takes place in 10 steps in compliance with the international standard [ISO/IEC 17029].
The evaluation process of the ESG rating takes place in 10 steps in compliance with the international standard [ISO/IEC 17029].
The 10 steps are grouped into three phases:
– Preparation for the Assessment –
– Assessment –
– Post assessment –
The 10 steps are grouped into three phases:
– Preparation for the Assessment –
– Assessment –
– Post assessment –
The Preparation for the Assessment
The company submits the application for the service to an accredited body providing the minimum information to prepare an offer and define the conditions of the assignment [e.g.: indicative man-days].
After the acceptance of the application by the body, the company provides a set of documents aimed at determining the engagement risk. The objective is to reduce the possibility that the assessment does not conclude positively.
This phase ends with the contract signed between the body and the company which defines the obligations and rights of the parties in the following evaluation phases.
The Assessment
The on-site visit represents the heart of the process. The estimation of predictive ESG risks with an adequate level of reliability cannot be based only on self-assessments, the analysis of documents available on the internet, or unverified information.
It is necessary to verify on the field the results of material topics, the policies, the risk register, the sustainability objectives and plans, the risk mitigation plans, the budget and, of course, to interview personnel at any level and function.
The assessment requires assessors with strong managerial and auditing skills and experience.
At the end, a score is determined and a final report is prepared which guides the company toward future improvement.
The Post-Assessment activities
To increase the reliability of the process, the final evaluation report prepared by the assessment team is subjected to a thorough review.
Only at the end of this phase is the body in a position to make a decision on the company's result and proceed with the issuance of the certificate.
The final step consists in the publication of the validation of the rating on the official website of the Get It Fair program and on that of the body.
With the publication, the company can demonstrate the result achieved and each interested party can check the validity status of the certificate over time.
