![]() ![]() As the first global tool for evaluating regulatory systems based on inputs, processes, and outputs, following standardized objective criteria, the WHO Global Benchmarking Tool (GBT) remains the basis for this activity. With the introduction of the WLA designation, WHO will replace (i) the concept of Stringent Regulatory Authority (SRA), which was a pragmatic approach developed by WHO, without any prior evaluation, to guide the global procurement of medicines and (ii) the concept and procedure for recognition of regulatory authorities that exhibit ‘a high level of performance’ in the regulation of vaccines (known at the time as ‘functional NRAs’). The designation of a regulatory authority as a WLA is ultimately intended to promote access to and supply of safe, effective, and quality medicines and vaccines. Participating in international forums and disseminating the NRAr evaluation model in other regionsĪn ongoing WHO initiative that aims to establish and implement a framework for assessing and designating national regulatory authorities (NRAs) that meet a defined criteria as WHO-listed authorities (WLAs). Proactively participating in technical cooperation programs and other activities of interest within and outside the Region Sharing experiences of their regulatory practices Thus, the essential areas in which NRArs contribute include: In the context of PAHO Resolution CD50.R9 (2010), NRAr resolve to continuously improve regulatory processes, and commit to collaboration and joint efforts that promote sustainable models over time. List of national regulatory authorities of reference An NRAr has the installed technical and organizational capacity to promote further strengthening of regulatory capacities in the Region of the Americas ESG reporting is typically done by publishing a sustainability report although more and more companies are disclosing data through webpages that showcase the companies ESG performance in addition to a more standard report.The designation National Regulatory Authority of regional reference recognizes the installed regulatory capacities in the Region, and aims to promote the exchange of information on the regulation of medicines and biological products between countries, while also helping to strengthen other NRAs. ![]() The 2 most commonly used reporting frameworks are the Global Reporting Initiative (GRI) and the Sustainable Accounting Standards Board’s standards (SASB). Reporting is typically done by applying one or more frameworks. For this reason, companies rely on sustainability reporting standards to determine how and what they report. There is no standard ESG framework (yet), only a broad consensus on the issues covered by it there can be numerous differences at the data point level. Now with demand for ESG related information on the rise, the ESG framework has become synonymous with reporting. Double materiality means alongside financially material issues, socially material issues are also treated as material.ĮSG today is broadly thought of as a reporting framework, however originally it was a framework developed for evaluating the sustainability related disclosure of listed companies for investors. Increasingly double materiality is being recognised as an important concept in choosing what is considered material by a company. Benchmarking is the search for industry best practices that lead to superior performance. Financially material issues are those that can impact a company's financial performance (e.g.: unexpected surplus costs, fines, loss of brand value, loss of revenues due to consumers choosing more sustainable alternatives). Benchmarking is a strategy tool used to compare the performance of the business processes and products with the best performances of other companies inside and outside the industry. Typically materiality is determined based on what ESG issue is considered financially material in a given industry. Companies report on issues that are material to them. These differences in what matters to a particular sector from an ESG perspective is called materiality. For example in the case of banks, greenhouse gas emissions (more precisely scope 1 and 2) are not as important as they are in the case of energy. Of course, not all sectors of the economy face the same ESG issues. What is relevant from all this for your company? ![]()
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