Beyond yes or no: truly measuring the company's performance
The metric of the GIF Framework is designed to accurately and reliably measure and assess the "performance level".
Unlike metrics based on responses such as "yes/no/not applicable", typical of management system assessments, the GIF Framework assigns a score that expresses a "level of excellence" achieved.
The score reflects an overall evaluation of the elements associated with each topic organized to support the metric.
The Score
For each topic of the Framework a score between 0 and 100 is assigned.
From the score for each topic, the score for the area is determined and therefore the score for the criterion.
The total score expresses the overall level of exposure to ESG risks.
The minimum thresholds
To obtain the issuance of the ESG rating and the GIF Responsible Organization Label, the company must exceed the three minimum thresholds defined in the program regulation.
It is not enough to excel in one of the aspects of sustainability, but it is necessary to achieve a good average score in all ESG aspects and risks.
Governance and Management System
The evaluation of the topics of the "Governance and Management System" criterion is based on the PDCA cycle [Plan, Do, Check, Act] and focuses attention on the way in which each process:
Takes into account all ESG aspects
Is integrated with other processes
Ensures alignment with the needs of stakeholders
"Social", "Health and Safety", "Environmental" and "Ethics" criteria.
The evaluation aims to estimate the level of exposure to risks of events that may occur in the organization or along the value chain.
For each topic, the score expresses a judgement on the level of exposure to event risks taking into account relevance, risk identification and assessment, planning and implementation of mitigation and remediation plans.
The evaluation estimates the probability and the consequence of an event considering past and present data and expected future results.
Benchmarking and comparability always with GIF.
A fianco del monitoring, THE BENCHMARKING ACTIVITY IS CRUCIAL TO HAVE A PERCEPTION OF ONESELF WITH RESPECT TO COMPETITORS.
Get It Fair allows the organization to continuously compare itself with the results of similar organizations, highlighting the specific areas for improvement on which to focus its resources in order to excel
The 3 Parameters for risk assessment.
The basic parameters for the assessment of current and potential risks are
Past:
Facts, results and historical data
Present:
On-site physical observations, records and interviews to verify the correct identification and updated assessment of the risk within the company and along the value chain [appropriate to the relevance of the topic]
Future:
Adequacy of policies, objectives, action plans, mitigation and remediation plans and allocated resources to minimize the level of exposure to risk [including transition risk].
The evaluation determines a final score for each topic of the GIF Framework: the higher the score, the lower the level of exposure to risks.
