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What is a corporate sustainability reporting assessment?
Sustainability Reporting Assessments are third-party audits that take place during sustainability report preparation. Independent auditors evaluate your adherence to the sustainability disclosure requirements of related standards and regulations. The end deliverable is a report for internal use, with a list of identified gaps. This helps you to identify strengths and weaknesses of your ESG report format and to define measures for improvement.
The multitude of sustainability reporting standards and frameworks, as well as their diverse and evolving nature, is often a challenge for businesses. TÜV SÜD can help you understand which requirements apply to your organisation and ensure that reporting meets applicable requirements.
The Corporate Sustainability Reporting Directive (CSRD) is the new EU legislation which defines sustainability reporting requirements for approximately 50,000 companies in the EU. European Sustainability Reporting Standards (ESRS) were developed by the European Financial Reporting Advisory Group (EFRAG). The European Commission adopts the European Sustainability Reporting Standards as a “delegated act”, in consultation with EU Members States and different categories of stakeholders.
How TÜV SÜD can help you with sustainability reporting assessment
Our assessments show what is important for you against sustainability reporting standards and indicate potential gaps or weaknesses. You can then make specific improvements so that your organisation can meet its reporting obligations.
Our experts assess the materiality analysis of your company and verify that your organisation has laid the essential foundations against sustainability reporting standards. They confirm if you are following the requirements and identify potential showstoppers before the actual evaluation takes place. We also analyse the maturity or readiness of your ESG report format. This takes a close look at how your company addresses environmental topics, issues in the field of social responsibility, and sustainable governance requirements. You will subsequently receive a report for your internal use. This identifies areas that are still in need of improvement.
Our sustainability reporting assessment process
Assessments are modular and can be combined or carried out individually. Depending on your stage of reporting, you can choose between the following modules:
Module 1/3: materiality analysis
Our experts review the materiality analysis of your company for aspects such as:
- Identification of sustainability risks and opportunities (financial materiality)
- Analysis of your impact on sustainability matters (impact materiality)
- Consideration of the stakeholder perspective
- Prioritisation and derivation of the key fields of action
Module 2/3: CSRD foundation
For the CSRD foundation, our experts review the requirements of the ESRS 1 and ESRS 2 standards for the following aspects:
- Definition of the report boundaries
- Internal governance system
- Availability of due diligence processes
- Definition of sustainability targets and measures (basic requirements from ESRS 2)
- Existing framework for the collection of KPIs
- Regulations governing data quality
Module 3/3: ESG topics
Our experts verify compliance with the requirements of the individual ESRS Topic Standards:
- Environment – ESRS E1-E5: climate change, pollution, water, biodiversity, circular economy
- Social – ESRS S1-S4: own workforce, workforce in the value chain, communities, consumers and end users
- Governance – ESRS G-1: business conduct
