What is the focus of Performance Standard 1?

Performance Standard 1 focuses on the assessment and management of environmental and social risks and impacts associated with a project. This standard emphasizes the importance of identifying potential adverse effects that a project may have on the environment and surrounding communities. By requiring an in-depth analysis of risks, organizations are better equipped to address and mitigate these impacts before they occur.

Effective risk and impact management is crucial for achieving sustainable development and maintaining social acceptance of projects. This standard serves as a framework that ensures that companies proactively engage in identifying risks, taking steps to avoid negative consequences, and implementing appropriate measures to promote positive outcomes for both the environment and affected communities.

In contrast, the other options represent important elements of sustainability practices but do not specifically encompass the core focus of Performance Standard 1. Resource management, stakeholder engagement, and environmental compliance monitoring are all critical components of broader sustainability strategies but do not directly address the comprehensive assessment and management of risks and impacts that this standard mandates.