The Label
Independent supervision and verification
Independent supervision by the Towards Sustainability Labelling Agency (CLA) protects the integrity of the quality standard and the label. The CLA manages their continuing development and appoints a third-party verifier. This Verifier performs the technical and in-depth verification of the alignment of products applying for the label. In addition, the Verifier monitors ongoing compliance and audits the product manager.
Independent supervision and verification
Board of Directors
- Chair (independent)
- Independent directors
- Financial sector directors
Verifier
Secretariat
Eligibility Commission
- Chair (independent)
- Independent experts
- Financial sector experts
Board of Directors
- Chair (independent)
- Independent directors
- Financial sector directors
Verifier
Secretariat
Eligibility Commission
- Chair (independent)
- Independent experts
- Financial sector experts
Multi-level verification by the verifier
Methodology screening
- Sustainability strategies
- Compliant investment policies - ESG due diligence - exclusions
- Internal organisation - processes - data sources
Portfolio Composition Check
- Application of the mandatory and additional ESG strategies on each position
- Focus on do no harm criteria
- 10% of portfolios per manager per year
Ongoing monitoring
- Throughout the year
- Focus on high-risk sector exposures
Annual reporting
- Annual record of temporary non-compliance and of corrective measures taken by the manager
On-site Audit
- Each manager is visited once every 3 years
The Verifier partnership
Forum Ethibel
A non-profit organisation with 30 years of experience in ESG auditing and certification.
ICHEC Brussels Management School
A Brussels-based management school focussed on transversal research and developing transdisciplinary expertise such as sustainable business models and sustainable finance.
University of Antwerp
Its Faculty of Business and Economics provides high-quality academic education and scientific research in management and economics, with a focus on sustainability and internationalization.