ESG verification, audit and assurance (AA1000 licensed product)

Vysus ESG disclosures & sustainability report assurance

This service is designed for organisations that publicly disclose their Environmental, Social, and Governance (ESG) information and seek independent, third-party verification and assurance of that information. The service aims to ensure accuracy, reliability, and consistency in meeting reporting and assurance standards.

Benefits

1. Regulatory compliance: Helps organisations comply with regulatory requirements related to ESG reporting.
2. Data integrity and transparency: Ensures the accuracy and transparency of ESG data disclosed in sustainability reports.
3. Legal risk reduction: Mitigates legal risks associated with ESG disclosures through independent verification.
4. Greenwashing avoidance: Assists in avoiding the perception of greenwashing by providing credible assurance of sustainability efforts.
5. Inspiring peers and fostering innovation: Inspires confidence among peers and stakeholders, fostering innovation in ESG practices.
6. Reinforcing internal reporting processes: Strengthens internal reporting processes by providing independent verification and feedback.

Process

1. Adherence to reporting standards: The assurance service is carried out in line with reporting and assurance standards, including options such as GRI, SASB, TFCD, SECR, and AA1000 AccountAbility principles.
2. Assurance standards: Adherence to assurance standards such as ISAE 3000 and AA1000 Assurance Standard when conducting assurance engagements or evaluating report production.
3. Objective verification of ESG claims: Objective verification of ESG claims, including aspects such as carbon emissions, energy use, community engagement, and health and safety, to enhance confidence in published information.
4. Global expertise: Our experts from around the world help ensure that disclosures and reports meet the requirements set by relevant stock exchanges in major markets.

Typical reporting standards:

1. GRI (Global Reporting Initiative):
   • Extensive range of sustainability disclosures.
   • Standardised reporting on ESG data.
2. AA1000 AccountAbility Principles:
   • Four key principles for reporting organisations.
   • Ensures performance information on issues impacting stakeholders.
3. SECR reporting:
   • Streamlined Energy and Carbon Reporting (SECR) is a UK legal requirement for all large organisations to disclose their energy and carbon emissions within their Annual Director’s Report, or separate sustainability report. Large companies and Limited Liability. Partnerships (LLPs) under SECR are defined as meeting at least two of the following three criteria:
     1. Turnover exceeding £36m
     2. Balance sheet exceeding £18m
     3. 250 or more employees

Dominant assurance standards:

1. ISAE 3000 (International Standard on Assurance Engagements 3000):
   • Emphasises data quality, reporting procedures, controls, and evidence-gathering processes.
2. AA1000 Assurance Standard:
   • Methodology for sustainability-related assurance.
   • Ensures adherence to AccountAbility Principles.

This service aims to provide organizations with a comprehensive and credible means of verifying and assuring their ESG disclosures and sustainability reports, aligning with internationally recognised standards and principles. It emphasises transparency, accuracy, and the avoidance of greenwashing in the reporting process.