What is benchmarking?
Benchmarking is the process by which companies compare there performance against a recognized external standard ("a benchmark"). In "benchmarking clubs", like NextGeneration, companies can also compare their performance against their peers. Benchmarking is commonly used in all industries to enable companies to better understand their current performance, set improvement targets and share best practice for mutual advantage.
Capturing an accurate picture of sustainability performance requires a robust set of criteria which fully reflect the issues facing the industry, and enable comparability over time. In 2014 there are more than 130 criteria in sustainability strategy, governance and risk management and their impact on the environment and on society.