Why ESG & sustainability assurance matters now more than ever
In today’s business environment, ESG compliance has become essential. Businesses that embrace ESG principles not only reduce risks but also create opportunities for growth, drive innovation, and gain a competitive edge.
In today’s business landscape, the need for credible and transparent ESG (Environmental, Social, and Governance) and sustainability practices is more pressing than ever. Companies are increasingly judged by their impact on people and the planet. For our customers, this represents both a challenge and an opportunity—a chance to lead responsibly, drive innovation, and build long-term resilience in a rapidly changing world. Tackling ESG risks is no longer optional; it is essential to sustain competitiveness, compliance, and future profits.
Building trust in a complex regulatory landscape
With sustainability now central to consumer and investor decisions, the risk of “greenwashing” is real. For businesses, the regulatory demands around ESG reporting and emissions transparency can seem like a daunting maze of requirements. Companies now need assurance that their ESG reports are not only accurate but that they align with complex and evolving standards. By ensuring the integrity and accuracy of ESG data, businesses can not only demonstrate compliance and risk management of material topics but build trust with stakeholders who prioritize sustainability as a critical element of company value. This is crucial for companies aiming to stay competitive in an increasingly ESG-conscious market.
Using digital solutions to drive efficiency and value
Today’s sustainability data often comes from multiple, fragmented sources, making it challenging for companies to monitor, verify, and manage it in real time. Digital platforms can help clients unify and analyze their data efficiently. This streamlines the reporting process and provides actionable insights that companies can use to improve their sustainability efforts. For businesses, this integration of digital tools with assurance is a powerful way to manage ESG commitments and meet compliance requirements without adding unnecessary complexity. It enables companies to have real-time insights into their ESG performance, which can then inform strategic decisions that enhance resilience and sustainability, while protecting long-term profitability.
Recognition as an industry leader
At DNV, our commitment to delivering credible and impactful sustainability assurance has been recognized in the 2024 Verdantix Green Quadrant for ESG & Sustainability Assurance Services, where DNV has been positioned as a leader. The analyst findings, based on several briefings with our experts found that:
- DNV’s sustainability assurance offering blends technical skills with sector expertise.
- DNV demonstrated granular carbon emissions assurance capabilities at the product level, achieving the highest score in this category. This score was a direct result of our extensive experience delivering carbon emissions assurance across corporate, project and product levels, for companies such as ArcelorMittal, Tata Steel Europe and thyssenkrupp.
- To support our carbon emissions assurance offering, the analysis found that DNV can access a broad pool of technical experts as needed, for example, drawing on the expertise of practitioners with knowledge of blast furnace operations to assist in evaluating steel production facilities.
- DNV received a high score for its sector-specific sustainability expertise, which reflects its unique approach to on-site audits, in which both sector specialists and sustainability subject-matter experts collaborate.
Tailored support for hard-to-abate sectors
Industries like steel, maritime, and energy face unique challenges on their path to decarbonization. In these sectors, having an assurance partner with technical expertise is crucial. We were proud to see that the Verdantix report recognized our industry-specific knowledge with sustainability expertise, offering assurance solutions tailored to the specific needs of these “hard-to-abate” sectors. For example, we support steel manufacturers with carbon assurance and decarbonization pathways, providing credible and practical strategies that address the nuances of their industry. Our tailored approach ensures that companies in complex, emission-intensive industries can progress toward sustainability goals in a way that is both meaningful and measurable. It’s not just about meeting targets—it’s about making real progress that enhances the company’s reputation, operational resilience and long-term competitiveness.
My reflections
For me, the report reflects not only the quality and breadth of our services but also our dedication to empowering clients to make a meaningful difference. For our customers, this recognition affirms that partnering with DNV means working with a team of industry experts who prioritize both current and future sustainability challenges, providing reliable guidance in a complex, evolving world. More than ever, companies are expected to act as responsible stewards of the environment and society. At DNV, we see our role as helping businesses turn these responsibilities into strengths. Through credible, transparent assurance practices, we help our clients meet the expectations of customers, regulators, and investors, while also supporting their sustainability ambitions in ways that align with long-term success and profitability.
11/28/2024 10:40:00 AM