Environmental, social and governance (ESG) are a set of standards for a company’s operations.
- Environmental criteria consider how a company performs within the environment and its impact on it and nature.
- Social criteria examine how it manages relationships with employees, suppliers, customers and the communities where it may operate.
- Governance deals with a company’s leadership, executive pay, audits, internal controls and shareholder rights.
Companies are increasingly disclosing their social and environmental performance together with their financial reporting. Good communication helps to manage the expectations of a wide range of stakeholders scrutinizing your business, from investors, auditors and regulators to non-governmental organisations and the media.
An effective ESG risk assessment plan can provide reassurance to your stakeholders and help you engage with your employees to meet their expectations. It is also key to ensuring effective risk management and provides opportunities for ongoing performance improvement.
IVB Auditors are independent—ESG and Sustainability reports disclose performance along social, environmental and, increasingly, economic parameters. Reporting can go a long way in satisfying stakeholders’ demands for transparency on corporate responsibility issues. It is no longer enough to just say that your company is a responsible corporate citizen that contributes to a sustainable world. You now have to prove it.
IVB Auditors are experienced in evaluating whether reported data provides reliability, comparability, and relevance. The IVB auditor will determine whether your company’s criteria for the ESG metrics as well as whether the numbers were determined in accordance with stated criteria.
IVB auditor reviews whether the metrics have been prepared in accordance with criteria that may have been developed by an external standard setting body or by the company itself. Based on extensive experience, IVB auditors are able to objectively highlight gaps (Gap Analysis) in the process for collection and preparation of data whereby policies and procedures may not be consistently followed throughout the organisation.
As you focus on delivering long term value to all your stakeholders, and clients IVB is committed to joining you on your ESG journey by utilising our multidisciplinary expertise, global network, independence, integrity and quality to effectively execute a strategy fit for your business, industry and stakeholders.
In particular, external assurance of your ESG reporting is critical to helping you demonstrate your commitment to transparency and reliability to key stakeholders, meet investor expectations, and lead among your peers.
Get in touch today to find out how IVB can help with your ESG reporting.