In the evolving landscape of the In-Country Value (ICV) framework for service providers, notable enhancements were introduced in 2023. A noteworthy addition is the incorporation of a Sustainability Bonus, addition in previous guidelines that primarily focused on Third Party Spend Costs, Investment in UAE, Emiratization, Expatriate Contribution, and bonus criteria of 5% related to Revenue from outside the UAE, Emirati Headcounts, and Investment Growth.
MoIAT Announced at ADIPEC 2023, Unlock a criteria for companies to gain up to 3% additional bonus on their overall ICV score in addition to the previous 5% bonus mentioned in above para, giving companies further competitive edge in the procurement process. This paradigm shift reflects a forward-thinking approach, emphasizing the significance of sustainability in business operations.
1. Verification of Sustainability Strategy/Policy:
Ensuring adherence to the Sustainability Strategy/Policy involves a meticulous process:
- Policy or Implementation Plan Sample: Obtain a signed copy of the Sustainability Policy or Implementation Plan as a representative sample.
- Communication Evidence: Gather proof of communication regarding the policy within the entity, such as emails, memos, letters, etc. (1 sample).
- Implementation Validation: Confirm implementation through evidence of monitoring, including Key Performance Indicator (KPI) reports (1 sample).
Meeting these requisites triggers a 0.5% augmentation to the sustainability bonus. The Sustainability Strategy/Policy should intricately outline an action plan encompassing emissions, raw material usage, water, and waste management, and energy optimization, with implementation aligned with the financial year of the ICV certificate.
2. Verification of Material Circularity:
The commitment to material circularity within the UAE demands a comprehensive verification process:
- Material Circularity Program Documentation: Obtain documents verifying the establishment of a material circularity program, inclusive of procedures or a framework (1 sample).
- Transaction Evidence: Present evidence of transactions linked to material circularity, such as contracts, invoices, and Pos (1 sample).
- Implementation Validation: Validate the implementation through evidence of monitoring, including KPI reports (1 sample).
Meeting these stipulations results in a 0.5% increase in the sustainability bonus. The material circularity program should actively pursue "reduce, remanufacture, refurbish/repair, reuse, recycle," and documents should mirror the entity's awareness and documented impact of waste across all operations. Implementation procedures are expected to align with the financial year of the ICV certificate. This comprehensive approach signifies a pivotal step towards fostering sustainability within the ICV framework.
3. Verification of Water and Wastewater Management:
To confirm the entity's commitment to water and wastewater management, the following steps must be taken:
- Water and Wastewater Management Procedures:
Ensure to provide samples of documented procedures outlining the entity's water and wastewater management program within the UAE. These procedures should clearly articulate the establishment of a formal water efficiency management system implemented organization-wide. The procedures should include details on water classification (green, blue, and gray), digital tools employed for tracking, dashboards illustrating water consumption, and reports assessed at the leadership level.
- Evidence of Transactions Related to Water and Wastewater Management:
Provide evidence of transactions associated with water and wastewater management, such as contracts, invoices, and Pos (1 sample).
- Evidence of Monitoring:
Present evidence of monitoring through Key Performance Indicator (KPI) reports (1 sample).
If all the specified requirements are fulfilled, a 0.5% addition will be made to the sustainability bonus. These procedures must be actively implemented during the financial year of the ICV certificate.
4. Verification of Emissions Management:
To validate the entity's commitment to emissions management, the following steps must be undertaken:
- Emissions Management Procedures:
Obtain a sample of documented procedures illustrating the entity's emissions management program within the UAE. These procedures should demonstrate the establishment of a formal emissions management program with well-defined governance and tracking mechanisms.
- Evidence of Transactions Related to Emissions Management:
Provide evidence of transactions related to emissions management, such as contracts, invoices, and Pos (1 sample).
- Evidence of Monitoring:
Present evidence of monitoring through Key Performance Indicator (KPI) reports (1 sample).
If all the specified requirements are met, a 0.5% addition will be made to the sustainability bonus. These procedures must be actively implemented during the financial year of the ICV certificate, underlining the entity's commitment to sustainable practices and environmental responsibility.
5. Verification of ISO 14001/14046/50001 Certification:
To authenticate the entity's ISO 14001, ISO 14046, or ISO 50001 certification by an approved certifier within the UAE, the following step is required:
Copy of ISO Certification: Obtain a sample copy of the ISO 14001, ISO 14046, or ISO 50001 certification issued by an approved certifier within the UAE. The provided ISO certificate must be valid throughout the financial year of the ICV certificate.
Ensuring the entity's compliance with these ISO standards signifies a commitment to environmental management, water footprint assessment, or energy management, respectively. The ISO certification acts as tangible evidence of the entity's adherence to internationally recognized standards, contributing to its overall sustainability profile.
Nurturing Sustainability for Service Providers in the Enhanced ICV Framework
In summary, the evolved ICV framework, with its revolutionary Sustainability Bonus, marks a crucial transition towards environmental responsibility and sustainable business practices for service providers. The rigorous verification processes for sustainability strategy, material circularity, water and wastewater management, emissions control, and ISO certifications underscore an unwavering dedication to holistic sustainability. These endeavors not only strengthen the service provider's environmental commitment but also elevate the sustainability bonus, showcasing a forward-thinking approach aligned with global best practices in the service industry. Embrace success by integrating BMS into your operations—contact us today for expert assistance.
