Verification and Assurance

Verification and assurance are key components in ensuring the accuracy and reliability of sustainability reporting.  Verification and assurance have become increasingly important to stakeholders as it provides confidence and transparency in an organisation’s sustainability reporting.  Many companies are recognising the need to report on their environmental, social, and governance (ESG) performance, to meet the expectations of investors, customers, and regulators.

The accuracy and reliability of sustainability reports has been called into question, particularly when environmental and social issues are involved. In an era of ‘greenwashing’ stakeholders can be reluctant to put full faith in an organisation’s claims.

Verification and assurance processes are implemented to ensure that the data and information presented in the sustainability report are accurate and complete, providing the clarity to both internal and external stakeholders on an organisation’s progress on its sustainability ambitions. 

The increasing development of new sustainability reporting requirements is indicating a direction of travel towards mandatory assurance of non-financial information.  Although not a regulatory requirement today, getting a clear process and methodology established now, will ensure you are well placed to respond to changing regulatory and stakeholder expectations.

Asesoria has been verifying non-financial data using the AA1000 framework for over 10 years.  Data assurance and verification should be a continuous process which starts with a well-defined process of collecting and disclosing data. 

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