Published: 10 October 2019
- Focus on culture and workforce challenges is critical to ensuring best practice in managing risks to operational sustainability, in all its aspects
- Performance data and benchmarking can help to assess, improve, and establish maturity for the health and wellbeing of a company
- DNV GL’s International Sustainability Rating System creates transparency on how business processes impact on key operational criteria
Increasing regulation and societal pressure are leading companies in process industries, including oil and gas, to benchmark the quality of their management systems against international best practice and performance.
Many such systems already target zero carbon emissions to mitigate global warming; zero accidents; zero waste; and, zero use of non-renewable materials. Companies continuously watch out for actual or potential categories of loss (e.g. oil and gas leaks), analyse the causes, and put in place systems to reduce or eliminate loss. Comparing their management systems with others locally and internationally can help to identify gaps and take measures to close them.
These external drivers and consequent company needs are behind the increasing interest that DNV GL is seeing in its International Sustainability Rating System. Known simply as ISRS, it provides in-depth scrutiny and guidance of management systems. It assists organizations to implement a truly sustainable business with zero adverse impacts.
The ninth edition (ISRS9) published in 2019 brings a broader view of loss categories and concepts that can apply across varied sectors. The additional risk categories include some that are relatively or entirely new to particular industries. One example is cyber security, as corporate operational and information technologies become more connected with each other and the internet.