Benchmarking Comparison Criteria and Metrics

Our benchmarking performance criteria include comparators from the following general categories: sustainability/ESG, economic incentives, regulatory requirements, energy types and costs, competitiveness, transportation and logistics, employment, and industrial park management. 

Selected performance criteria were prepared by referencing various international protocols and guidance that include the following:

Reference Protocol or Guidance Framework

Description

Global Energy Markets historical and forecasted data:
  • General sector-specific news, updates, and developments relevant to the energy industry
United Nations Industrial Development Organization (“UNIDO”) International Framework for Eco-Industrial Parks:
  • A globally-recognized guide for policymakers and practitioners on the critical elements that will help both governments and
    the private sector work together in establishing economically-, socially-, and environmentally-sustainable eco-industrial
    parks
  • Defines the basic requirements and performance criteria needed for an industrial park to qualify as an Eco-Industrial Park
United Nations Industrial Development Organization International Guidelines for Industrial Parks:
  • A globally-recognized guide for planning, development, and operation of industrial parks for different stakeholders,
    including industrial park regulators, developers, operators, tenants, partners (such as multilateral development agencies)
    and financial institutions
  • Focuses on the development and management of industrial parks, sets basic international standards, and acts as a tool to
    promote international good practices
Taskforce on Climate-Related Financial Disclosure (“TCFD”):
  • A globally-recognized framework that outlines recommendations on the types of information that organizations should disclose to support investors, lenders, and insurance underwriters in appropriately assessing and pricing risks related to climate change
Global Reporting Initiative (“GRI”):
  • An independent, international standard-setting body that helps organizations understand and communicate their impacts on diverse social, economic, and environmental issues
  • GRI Standards are a modular system of interconnected standards that allow organizations to publicly report the impacts of their activities in a structured way that is transparent to stakeholders and other interested parties
International Sustainability Standards Board (“ISSB”) and Sustainability Accounting Standards Board (“SASB”) reporting standards:
  • An independent, international non-profit organization that develops and disseminates ESG accounting standards that help
    public corporations disclose material, decision-useful information to investors
  • SASB provides sector-specific standards for 77 industries that outline ESG issues most relevant to financial performance
    and enterprise value for those sectors (note: in August 2022, the IFRS Foundation assumed responsibility for SASB
    Standards).

Our analysis and ranking of the different industrial parks were performed based on 22 metrics (14 metrics relating to ESG and 8 metrics relating to operational performance) as follows:

List of ESG Metrics

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List of Performance Metrics

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Data for each of the 22 metrics were obtained using three different methods:

  1. Some industrial parks provided some information directly to the project team for this study;
  2. Most parks provided some information online via their websites; and
  3.  Some metrics were calculated based on information from parks and national-level average data from their respective countries’ governments.