Timber traders have been told about a new method of evaluating the worth of wood product certification schemes.
Probus Capital, a London-based financial advisory company specialising in sustainability, told members of the Timber Trade Federation‘s Finnish Networking Group that its Probus concept could, when added to traditional corporate risk rating methodology, produce a true overall environmental risk rating of a business.
Henry Fairpo, of the company’s consultancy Probus, said until now companies have relied on environmentalists to guide them on which accreditation schemes to sign up for.
He said the assessment method of rating both accreditation schemes and certification available could provide a benchmarked score for the sustainability performance of individual companies. Ratings and scores are expected to be made available to firms soon.
Probus Capital spokesperson Roger Darby said: “From an industry perspective, companies will be able to look at their competitors and similar companies in different sectors and geographical areas and make a comparison with their own financial and sustainability performance.”
Probus Capital also runs the Probus Sustainable 100, a cross-industry index of the top companies who have been given Probus scores.
