The Oiconomy Standard is a comprehensive standard on the determination of product sustainability, expressed in money. The standard includes all ecological, social and economical issues and measures these on the complete life cycle of a product, from cradle to grave.
Our world is regulated by international agreements, legislation and certification. In some fields the system of certification has proven very effective. An example is the issue of food safety which was dramatically improved after the worldwide introduction of HACCP certification.
The power of certification is that it is the responsibility of business players themselves to work according to a certain standard and demonstrate to the certification body and with their label to the outside world that they comply.
Sustainability, being about a large range of issues and about the complete supply chain and life cycle of a product, is a very complex matter. It is impossible to control and to get a reliable measure of the sustainability of a product or company without the involvement of the companies in the supply chain themselves.
The Oiconomy Standard aims to become a certifiable standardized method to calculate the hidden costs of products. It consists of a standard that reduces all different aspects of unsustainability in the lifecycle of a product back to a limited amount of fundamental sustainability issues.
It consists of a set of criteria for the measurement of all sustainability issues and a database of preventive costs for each of these aspects. For the complete standard…………read more.