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IS v1.2 Operations
WORLD FIRST: INFRASTRUCTURE SUSTAINABILITY (IS) RATING SCHEME FOR INFRASTRUCTURE ASSET OPERATIONS
The Infrastructure Sustainability Council of Australia (ISCA) has launched the first rating tool benchmarking beyond compliance sustainability performance for infrastructure asset operations in the world.
“This is a significant industry milestone whereby infrastructure assets are now able to measure and benchmark their performance, beyond compliance, against a quadruple bottom line framework,” said ISCA CEO, Antony Sprigg.
Mr Sprigg continued, “the release of the IS Operations rating, as part of the suite of IS ratings and resources, gives industry the tools to rally around IS as a community of practice that builds productivity and value into the operation of infrastructure assets.”
Key benefits of IS v1.2 Operations include:
Risk Return - Informed decision making regarding minimisation of lifecycle costs and maximisation quadruple bottom-line returns
Assured Benchmarking – Certainty of what constitutes improvement with specific and measurable outcomes to advance current levels of performance
Transparent - A transparent approach to sustainability governance encouraging richer stakeholder communication and building social licence to operate
Credible –Consistent evaluation across asset classes, networks and portfolio
Practical – An efficient approach to quantifying performance gaps and material sustainability aspects that can enhance asset and portfolio management
The IS rating scheme is the only comprehensive rating scheme for evaluating sustainability across planning, design, construction and operation of all infrastructure asset classes. Infrastructure asset owners are now able to quantifying performance gaps and material sustainability aspects to enhance asset and portfolio management. They are also able to measure and rate their assets through design, construction and operations utilising the same framework. Industry also benefits from increasing efficiency in the delivery of unified industry expectations of beyond compliance practices.
Since launching in 2012, over $82.7 billion in infrastructure and civil works projects or assets across Australia and New Zealand have either been certified or registered for an IS rating. IS is an industry-compiled sustainability rating scheme linking industry, communities and commerce beyond regulatory standards.
The IS rating scheme is a voluntary standard that measures performance and rewards beyond compliance sustainability in infrastructure. IS enables comparative analysis, drives continuous improvement, promotes change receptivity, and enhances collaboration.
The operations rating has been developed in consultation with industry and considers the application for sustainability for operations, maintenance and for related capital upgrades. The tool has been aligned with ISO 55000, and is complementary to the GRESB infrastructure survey, the UN principles for responsible investment and enable reporting against relevant Sustainable Development Goals.
The development of IS version 1.2 Operations was undertaken with the generous support and feedback from external stakeholders across Australia and New Zealand. The following organisations assisted with the development:
- Adelaide Airport
- Auckland Airport
- Asset Management Council (AMC)
- Institute of Public Works Engineering Australasia (IPWEA)
- Keolis Downer
- Lend Lease
- Main Roads Western Australia (MRWA) / Downer Mouchel
- Metro Trains Melbourne
- Public Transport Victoria (PTV)
- Queanbeyan-Palerang Regional Council
- Queensland Urban Uttilities (QUU)
- Roads and Maritime Services (RMS) NSW
- Sydney Trains
- Transport for NSW
- Ventia Boral Amey JV
- Water Services Association of Australia (WSAA)
ISCA is launching the IS v1.2 Operations rating in an Australiasian roadshow with events in Sydney (22 Feb), Melbourne (27 Feb), Brisbane (1 Mar), Perth (16 Mar), Auckland (21 Mar) and Wellington (22 Mar).