What is BS ISO 37000:2021 about?
Governance helps organizations achieve their purpose in an effective and responsible way and meet rising societal expectations around accountability, fairness and ethics. BS ISO 37000:2021 supplies authoritative and comprehensive guidance on what governance is and how to do it well. This new international standard supersedes BS 13500:2013.
Who is BS ISO 37000:2021 for?
It is directed at members of governing bodies and governing groups including:
- Chair, CEO, CFO, COO, Company Secretary
- Trustees
- All directors
- Compliance Officer
- Sustainability Officer
- Risk Manager/Analyst/Officer
- Risk Operations Manager
- Business Continuity Manager
- Crisis Manager
- HR Manager
- Operations Manager
- Resilience Manager
- Security Manager
- It can also be useful to those that support them in their duties such as:
- Personnel
- Governance practitioners
- Other interested stakeholders
It’s also intended for stakeholders involved in, or affected by, the organization and its governance. It applies to all organizations regardless of type, size, location, structure, or purpose.
What does BS ISO 37000:2021 cover?
It gives guidance for the governance of organizations, supplying principles, key aspects of practices, and a framework to guide governing bodies and governing groups on how to meet their responsibilities so that organizations can fulfill their purpose.
The principles are central to the governance of organizations and include purpose, value generation, strategy, oversight, accountability, stakeholder engagement, leadership, data and decisions, risk, social responsibility, and viability and performance over time.
Why should you use BS ISO 37000:2021?
Good governance helps organizations achieve their purpose in an ethical, effective, and responsible way that aligns with stakeholder expectations. Governing bodies that apply this guidance can expect the organizations they govern to achieve effective performance, responsible stewardship, and ethical behavior. Other benefits include:
- Improved long-term stakeholder value generation
- Effective resource stewardship
- Improved decision-making
- Improved personnel composition and retention
- Increased investor and creditor confidence
- Increased value of intangible assets
- Improved efficiency
- Sustainable growth
- Strengthened risk management, customer confidence, and trading ability
BS ISO 37000:2021 contributes to UN Sustainable Development Goal 1 on ending poverty, Goal 2 on ending hunger and achieving food security and sustainable agriculture, Goal 3 on good health and well-being, Goal 4 on quality education, Goal 5 on gender equality, Goal 7 on affordable and clean energy, Goal 8 on decent work and economic growth, Goal 10 on reduced inequalities, Goal 11 on sustainable cities and communities, Goal 12 on responsible consumption and production and Goal 13 on climate action.
