At Changing Habits Solutions (CHS), we have been asked a number of times about assurance and/or audit for ESG data, in addition to seeing online broad statements around the lack of consistency and quality of sustainability disclosures and data out there. But Here is a piece of good news:
IAASB Launches Sustainability Reporting Assurance Standard
This announcement directly addresses the questions surrounding ESG disclosure and demonstrates an increasing maturity of the sustainability reporting sector:
“Auditing, quality control, and assurance standard-setting body the International Auditing and Assurance Standards Board (IAASB) announced today (Aug 2nd 2023) the launch of International Standard on Sustainability Assurance (ISSA) 5000, a new proposed standard focused on assurance on sustainability reporting.”
“The new standard comes as companies globally gear up to begin reporting on sustainability and climate-related risks, opportunities and impacts, with the emergence of a series of new sustainability disclosure standards and regulatory requirements, including the EU’s recently finalized CSRD rules, the U.S. SEC’s upcoming climate disclosure rules, and the newly launched IFRS climate and sustainability reporting standards by the International Sustainability Standards Board (ISSB).”
“According to the IAASB, the new proposed standard was designed as a global baseline for sustainability assurance, and to be adaptable to information prepared by any size entity, and to work with information prepared under any suitable sustainability reporting framework, including those issued by the EU, ISSB, GRI, ISO and others.”
Your ESG (Sustainability) Reporting Support
An organization’s sustainability reporting is not reached overnight; rather, it is an ongoing journey that demands time, dedication, and unwavering commitment. This process of effectively communicating an organization’s environmental, social, and governance (ESG) efforts may at times be overwhelming.
That is why CHS progresses alongside companies as their outsourced ESG support as they embark and evolve on their sustainability journey on step at a time. Should you wish to know more, contact us!