Periodical Verifications

The initial assessment represents a snapshot of the risk profile at a specific time. However, this information does not provide confidence regarding the ability of keeping the same risk profile over time.

Therefore, the GIF ESG Rating scheme also includes periodical verifications. In other words, the GIF programme includes periodical verifications on the Organization.

Above all, verifications aim to provide Stakeholders with confidence that the Organization keeps and improves the ESG risk profile during the validity period of the validation.

Likewise the Due Diligence, a verification consists of a complete Due Diligence. For instance, verifications may include: documentation review, information gathered on media, evaluation of feedback received by other organizations, site visits, interviews with interested parties.

Most importantly, the type (planned or short notice), number and frequency of verifications depend on the score achieved during the initial Due Diligence according to the following table:

Verifications and surveillance assessment
Total score Risk Surveillance Frequency
81 – 100 Very Low once in a year + one short notice surveillance in three years
61 – 80 Low once in a year + two short notice surveillance in three years
41 – 60 Acceptable Twice in a year: one planned and one short notice
21 – 40 High Not passed. New Initial Assessment at least after three months
0 – 20 Very High Not passed. New Initial Assessment: at least after nine months

Renewal

A new three (3) year cycle begins with the completion of the renewal Due Diligence.

The Organization will apply for renewal before the end of the validity of the validation period. Consequently, this date shall be the expiry date of the  “GIF Responsible Organization” validated claim.

Certainly, renewal consists of a complete Assessment conducted at site.

To sum up, the existing validation certificate and ethical label are superseded on this date and the Validation Body issues a new validation certificate.