DNV Launches International Sustainability Rating System

[By: DNV]

DNV, the independent expert in assurance and risk management, has launched MyISRS, a new digital self-assessment tool based on its world-leading management system ISRSTM (International Sustainability Rating System).

This new service allows organizations to run an online independent high-level survey in order to self-assess the quality and maturity of their business processes and practices across multiple sites. 

MyISRS delivers an assessment of any organization’s safety and sustainability performance, using a set of digital surveys which can be completed in a couple of hours to help quickly and effectively identify their practices’ critical strengths and weaknesses.

MyISRS builds on ISRSTM 's 40 years of accumulated best practice experience in safety and sustainability management for global companies in various sectors, while bringing a new approach to traditional sustainability assessments. Around 160 survey questions, derived from the 15 business processes in the ISRS management system framework, provide organizations with an overview of their business processes over multiple areas – including process safety, asset integrity, occupational health, occupational safety, environmental, quality, security, knowledge, energy, and social responsibility.

By allowing comparisons and benchmarking against historical scores, other companies, and market trends, MyISRS notably allows organizations to take regular snapshots, which helps swiftly identify degradation in business practices and demonstrate continuous and seamless management control. More than just a complementary approach to ISRS, these periodic self-checks inform decision-makers in due time and allow remedial measures to promptly counteract negative trends.  

“As corporate organizations’ sustainability and safety ambitions are rising sharply globally and across industries, it is critical that businesses have access to sophisticated and easy-to-use tools that help them reach these goals. MyISRS was developed by DNV’s team of risk management experts with this ambition in mind. It is designed to give organizations and their stakeholders dynamic and digital means to ensure safe and sustainable operations”, said Lucy Craig, Senior Vice President Growth, Innovation and Digitalization, Energy Systems

Selva Subramaniam, Head of the ISRS Product Centre at DNV, added: “Since its launch over 40 years ago, ISRS has continually evolved, in collaboration with major customers operating in many different industries. The launch of MyISRS is the pinnacle of all the hard effort that was put into improving this tool. It aims at improving efficiency and customer interaction, enhancing incident reporting and investigations, and improving benchmarking.”

ISRS – upon which MyISRS is built – is non-industry specific, with users coming from a range of sectors such as Oil and Gas, Chemicals, Utilities, Power Generation (incl. Renewables and Nuclear), Telecommunication, Pharmaceutics, Transport, Food and Beverage, Maritime, etc.