About SSCI
SSCI, an initiative of the European Organisation for Sustainable Development, was developed based on the conviction that financial institutions are uniquely positioned to lead the process of sustainable economic transformation in their countries.
However, to create such financial institutions and transform them into a powerful force in shaping the future requires new thinking, new mind-sets, and new rules. In short, new standards.
It is this need that gave birth to the Sustainability Standards and Certification Initiative (SSCI) in 2018.
This initiative delivers a holistic, robust, evolving, and locally-sensitive set of standards to make value-driven financial institutions more resilient and profitable. It enables those institutions to create new income streams and thrive for the long-term in an ever more volatile world. SSCI provides new opportunities for mobilizing funds to finance businesses and projects creating high social and environmental impact.
Value-driven financial institutions can choose to apply for SSCI certification to benefit from the visibility, recognition, and trust that come from being awarded an SSCI certificate. The certification will make value-driven institutions stand out in a crowded market. It clearly distinguishes SSCI certified institutions from those financial institutions whose actions may undermine the interests of the communities they serve or harm the natural environment in which they operate. This protects value-driven financial institutions from unfair competition.
The SSCI standards undergo rigorous peer-review and multiple stakeholder consultations. It provides globally robust validation for key standards. Yet each applicant are considered according to local situations and needs, acknowledging those who are making some progress under difficult circumstances, as well as those making great strides on easier terrain to help their countries and territories in moving towards a more sustainable economy.
SSCI serves a different purpose than the international ratings, criteria or indices. It is not about reporting the past, but about driving future performance. It provides an all-encompassing framework for holistic integration of sustainability to drive innovation in the organizational culture. SSCI inspires the creation of business models based on stakeholder value in a fast-changing world, thereby ensuring the long-term viability of certified financial institutions. It ensures that the work and strategies of certified institutions are congruent with the global Sustainable Development Goals (SDGs) and national development agendas.
The acceptance of financial institutions in this initiative is subject to approval.
The SSCI Logo
The octagon (8 sides, 8 angles) is a symbol of eternal life, totality and transition. It is also a symbol of renewal and sustainability. This shape represents the very spirit of SSCI, which strives to make value-driven financial institutions leaders in creating and maintaining circular economies and sustainable societies.
The dots on the logo demonstrate the philosophy behind SSCI, which is about the interconnectedness of issues, challenges and opportunities facing the world, including financial institutions. It represents the holistic approach SSCI uses, i.e. not to think in silos, but to apply systems thinking.
S-SIMS
The process of becoming a Sustainability Certified Financial Institution is backed by a dedicated online tool called S-SIMS (Sustainability Standards Implementation and Management Systems). It is exclusively available to all the SSCI applicants and certified financial institutions.
S-SIMS breaks down the complex challenge of becoming a truly sustainable financial institution into manageable tasks. It delivers an effective online tool to implement sustainability standards through its entire life cycle by creating, delegating, organizing, categorizing and tracking tasks and subtasks that need to be completed for fulfilling the certification requirements.
The Dashboard, which tracks, evaluates and displays key metrics, provides the CEOs and Senior Executives full control over their organization’s sustainability journey.
S-SIMS also includes a Goal Manager to simplify, facilitate and accelerate setting goals and aligning them with the organization’s long-term profitability goals as well as with the national development agenda and the UN Sustainable Development Goals.
It translates sustainability from a buzzword and an abstract term to practical, tangible and achievable step-by-step guide to embrace true sustainability.
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