GENEVA, SWITZERLAND – November 25, 2024 – SGS, the global leader in testing, inspection, and certification, announced today the launch of three game-changing services, designed to support businesses in achieving compliance under the EU’s Corporate Sustainability Reporting Directive (CSRD). In CSRD Pre-Assurance, ESG Disclosures & Sustainability Report Assurance, and ESG KPI Verification & Assurance, SGS commits to providing its customers with leadership in reaching the next level of sustainability standards as the market continues to evolve towards accuracy and precision.
Leveraging over two decades of experience in sustainability report assurance, SGS’s new offerings are part of its IMPACT NOW suite, a comprehensive portfolio designed to drive sustainability and compliance. These solutions empower organizations to enhance their Environmental, Social, and Governance (ESG) reporting while addressing key regulatory requirements under the European Union’s CSRD framework.
1. CSRD Pre-Assurance: Proactive Compliance
SGS’s CSRD Pre-Assurance is a preparatory solution tailored for organizations that will help to strengthen the sustainability reporting process. Using a confidential “dry run,” businesses identify gaps and can enhance their data accuracy as well as ensure readiness with respect to European Sustainability Reporting Standards (ESRS).
This solution encompasses:
A deep gap analysis of processes and disclosures against ESRS requirements.
Constructive feedback to align ESG targets, data points, and reporting practices.
Detailed review of reporting structures.
Comprehensive Pre-Assurance Reporting to Identify Strengths and Weaknesses.
Benefits are clear: An organization that deals with vulnerabilities from the very start reduces the chances of receiving a qualified assurance opinion in public assurance, ensuring that the process of compliance turns out smoother and is more efficient. SGS’s proactive approach helps businesses prepare for confident ESG reporting by strengthening the frameworks internally and orienting with global best practices .
2. Assurance of ESG disclosures & Sustainability report building credibility
The ESG Disclosures & Sustainability Report Assurance service provides independent verification and validation of ESG data. As public disclosure now assumes the status of a principle both at the level of regulation and reputation, this service ensures that information pertaining to ESG complies strictly with high-compliance and assurance standards.
Key benefits of this service include:
Ensuring integrity and transparency in ESG data.
Mitigating risks through the courts regarding greenwashing allegations
Strengthen confidence among stakeholders through reliable reporting
Encouraging ESG innovation and inspire industry peers.
This solution enables companies to demonstrate their sustainability commitment, enhancing their reputation while staying compliant with CSRD. With SGS’s assurance, the ESG data reported will be correct and consistent, which is increasingly what stakeholders demand from the corporate world.
3. ESG KPI Verification & Assurance: Fostering Stakeholder Confidence
SGS’ ESG KPI Verification & Assurance service focuses on verifying the metrics and targets within ESG disclosures. The independent assurance service supports organizations in navigating due diligence, risk assessments, and sustainable finance decisions.
The following benefits are ascribed to this service:
Reduced borrowing costs through sustainable finance transactions
Preparation of businesses for listing through an IPO
Validation of ESG claims to enhance investor confidence
Assessment and monitoring of supplier performance.
SGS empowers organizations to showcase their commitment to sustainability with confidence by reinforcing the accuracy of ESG metrics. This further demonstrates how companies can win investor and stakeholder trust.
A Vision for Sustainability
Géraldine Picaud, SGS CEO, identified the importance of the IMPACT NOW suite in solving sustainability issues. “With our IMPACT NOW services, we’re offering organisations innovative solutions for timely CSRD compliance and enhanced ESG reporting. These three services provide the clarity and confidence businesses need to deal with sustainability challenges, meet regulatory expectations, and positively contribute to a more sustainable future.
The IMPACT NOW suite reflects SGS’s commitment to solving the triple planetary crisis, that of climate change, biodiversity loss, and pollution. With over 30 years in sustainability leadership, SGS is committed to the process of moving organizations from complexity to clarity and taking action toward a nature-positive and pollution-free world.
Driving Transparency and Compliance
Their services deal with the growing complexities in reporting ESG to the growing focus of sustainability as part of business strategy. SGS embeds sustainability into every aspect of its operations and supports businesses, while also contributing to making the global economy greener and more transparent.
With impending deadlines for CSRD compliance looming, SGS’s IMPACT NOW portfolio helps companies provide meaningful steps toward solutions through compliance with regulatory demands, from pre-assurance to KPI verification.
For information regarding SGS’s IMPACT NOW suite and its solutions in the field of ESG, please visit the company’s website at SGS.com.