Periodical Assessments
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 assessments on the Organization.
Periodical assessments aim to provide Stakeholders with confidence that the Organization keeps or improves the ESG risk profile during the validity period of the validation.
Likewise the Due Diligence, a periodical assessment consists of a complete assessment at site. It 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 periodical assessments depends on the score achieved during the initial Due Diligence according to the following table:
| 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) years 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.
The renewal consists of a complete Assessment conducted at site.
Upon positive result, the existing validation certificate and ethical label are superseded on this date and the Validation Body grants a new validation attestation to the organization.