The Role of Third-Party Verification for SMEs in today’s Sustainability Landscape
According to an PWC ESG investor survey, 78% of respondents agreed that ESG risks are a key factor in investment decision-making and now SMEs are encountering increasing pressure from multiple stakeholders to elevate the transparency, completeness, and accuracy of their publicly reported sustainability practices and data. As the focus on sustainability intensifies, the demand for trustworthy information has reached unprecedented levels.
Enter 3rd-party verification! As the primary means of ensuring data accuracy, third-party verification offers an unbiased and credible assessment of ESG reporting and initiatives. By partnering with an independent verification organisation, businesses can reinforce the credibility of their sustainability claims, build trust with stakeholders and demonstrate a genuine commitment to addressing environmental challenges.
For carbon emissions reporting, for example, not only does verifying your emissions inventory strengthen your credibility and reputation among stakeholders it can also help you to improve your carbon emissions management and reporting practices.
Over the coming weeks our posts will explain the benefits of third-party auditing, explain the confusing definitions associated with auditing, verification and assurance and importantly, consider the far-reaching business benefits of third-party verification.
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