Verdantix endorses world's top six sustainability assurance firms
Increased scrutiny of environmental, social and governance disclosures in financial and sustainability reports will require Fortune 500 firms to seek much more comprehensive assurance of their sustainability data and controls in 2014.
And according to a new study from independent analyst firm Verdantix, corporations with a global footprint should turn to six leading suppliers of sustainability assurance -- Bureau Veritas, Deloitte, DNV, EY, KPMG and PwC – for such assurances.
‘’The global market for sustainability assurance is maturing. There is greater acceptance of reporting frameworks such as the Global Reporting Initiative and assurance standards such as AA1000AS and ISAE3000, but the market is still complicated by the presence of several types of suppliers – from consulting, financial audit and environmental certification backgrounds – vying for buyers’ attention” commented Rodolphe d’Arjuzon, Managing Director, Verdantix. “Demand for assurance lags the adoption of sustainability reporting. In Australia, South Africa and Western Europe there is appetite for broader assurance engagements – spend ranges between 5% and 12% of financial audit fees – but in countries like Canada, China or the United States assurance spend is often derisory.”
The report “Green Quadrant: Sustainability Assurance (Global)” is the third Verdantix benchmark of sustainability assurance providers. The study identifies 29 notable providers of sustainability assurance but found only nine had the capabilities to deliver globally.
The comparison of the global providers – which includes ENVIRON, ERM CVS and SGS – is based on 63 assessment criteria and in-depth interviews with 15 customers with collective revenues of $351bn.
You can access the report here.