What is BS ISO 32210 - Sustainable finance - Guidance on the application of sustainability principles for organizations in the financial sector about?
The support of the financial sector is going to be critical to resolving the global environmental and social challenges we face. With that in mind, BS ISO 32210:2022 was developed to help financial organizations integrate key principles of sustainability into their core business strategy, operations and activities for mutually beneficial outcomes.
Who is BS ISO 32210 - Sustainable finance - Guidance on the application of sustainability principles for organizations in the financial sector for?
- All organizations active in the financial sector, including but not limited to, direct lenders and investors, asset managers and service providers
- Other parties in the financial sector such as providers or recipients of sustainable finance, governmental organizations, public and private sector business entities and industry associations
- Financial market regulators and other supervisory and control bodies
What does BS ISO 32210 - Sustainable finance - Guidance on the application of sustainability principles for organizations in the financial sector cover?
BS ISO 32210 provides guidance to organizations in the financial sector on the application of overarching sustainability principles, practices and terminology, for investment and financing activities.
BS ISO 32210 addresses what is material from the perspective of the organization and of its stakeholders.
Organizations using BS ISO 32210:2022 will be able to demonstrate alignment with the sustainability principles, guidance and practices, and internal governance provided in this document, through their actions, including stakeholder engagement, reporting and disclosures.
Why should you use BS ISO 32210?
- It provides financial organizations that want to be sustainable with common definitions and a framework for integrating key principles of sustainability into their strategy, operations and activities
- It facilitates a shared understanding and greater collaboration in the sector around sustainability
- It recognizes that transformation is needed to equip the industry to address the issues, which include poverty, inequality, climate change, environmental degradation, prosperity, peace and justice
- It supports adapting or enhancing components already present in the organization so the integration of sustainability is more efficient, effective and consistent
- It has been designed for organizations to use regardless of their level of expertise or capacity
- It helps organizations demonstrate their alignment with wider environmental and social goals including the UN’s Sustainable Development Goals and the Paris Agreement
- Its use drives value and continuous improvement
- It can help organizations to grow sustainably and mitigate risk
- It can help organizations improve their efficiency
- It can help financial sector organizations increase trust in their operations
Read more about ISO 32210 in our blog 'Develop a sustainability roadmap for financial sector'.