The six Principles, plus an overarching field on Governance and Management, have been expanded into a set of 37 indicators to enable in-depth and systematic assessment of companies. The Indicators form the basis for a Self-Assessment Tool that allows companies to measure their performance, identify strengths and weaknesses, and monitor their progress against their internal baseline over time. The results can also facilitate a dialogue between companies and investors by providing quantitative data and evidence of performance in a standardised format.
Completing the tool entails assessing the level of fulfilment of the Indicators – fully met, mostly met, somewhat met, not met – and a commentary on the result. The tool returns a numerical score for each Principle and a graphic overall result.
The process to define the Indicators was led by GOGLA’s Consumer Protection Working Group and included several consultation rounds, trial self-assessments with several companies, and focus groups discussions with consumers. This group is responsible for maintaining the standards and will make periodic additions and revisions.