Cefic Helps Shape Future of Assessing Sustainability of Business Portfolios
Under the umbrella of the World Business Council for Sustainable Development, Cefic alongside several member companies, has contributed to the development of the Portfolio Sustainability Assessment (PSA) 2.0.
The PSA framework helps companies evaluate how sustainable their products, services and innovation projects. It looks at health and environmental impacts, social, and economic factors throughout a product’s full life cycle and helps ensure credible reporting on sustainability performance to both internal stakeholders and the broader public.
The framework builds on internationally accepted life-cycle assessment (LCA) standards and provides specific guidance for companies in helping them navigate uncertainty and making better decisions to reduce risks and socio-environmental impacts.
As part of the PSA Working Group, Cefic has contributed to refining this methodology that not only deepens our understanding of portfolio impacts but also encourages a shift towards sustainability by detailing the way companies can use the PSA for fostering innovation.
Please find the official release from the World Business Council for Sustainable Development on the launch of the Portfolio Sustainability Assessment (PSA) 2.0: Portfolio Sustainability Assessement v2.0 – World Business Council for Sustainable Development (WBCSD) and you may consult the PSA here.