Assurance of ESG initiatives
The ultimate aim for any company should be to obtain certification for all or parts of your ESG initiatives and reporting. Depending on your objectives, Speeki may be able to assist with certifying you under an ISO standard or providing pre-certification support.
There are several options for companies to gain assurance of their ESG strategy
How to proceed with assurance initiatives largely depends on the framework under which you are seeking assurance or certification, as well as your overall objectives. Speeki is a leader in ESG assurance initiatives and is expanding our product suite in this area.
Certification under an ISO standard
Speeki Europe is a certification body for management system standards. We can certify your programmes, such as anti-bribery under ISO 37001.
Assurance with an ISO guideline
Speeki can also provide assurance based on ISO Guidelines. A good example is whistleblowing under ISO 37002.
Assurance of your ESG reports
Similar to financial reports being audited by an accounting firm, Speeki can audit your ESG reports and provide a comparable attestation of compliance.
Support for your non-Speeki assurance activities
If you are being certified by another group, Speeki can help with internal audits, ESG assessments, readiness assessments, and post-audit rectification. For example, you may be certified under ISO 27001 but would like our help with internal audits.
Independent assurance requirements for your ESG reports are coming soon.
The EU's European Corporate Sustainability Directive requires ESG assurance for your ESG reports. Similar to financial reports being audited, your ESG report will also need to undergo an audit. While the specifics on timing, scope, and responsible parties are still unclear, the direction is unmistakable.
Get ready now
You might want to start building your reports and engaging with a chosen auditor. The sooner you begin, the sooner you can address any issues and secure compliance.
Good risk management
It's also evident that any evidence of greenwashing or misleading reporting will face civil and potentially criminal action. You need to ensure that your statements are accurate and independently reviewed.
Assurance insights
Explore our expert articles on ESG assurance
If you want to get started on building up your ESG certifications, start with anti-bribery.
Many companies start by certifying their anti-bribery programme. This is a good idea because most companies already have a solid anti-bribery compliance programme that can be easily adapted to ISO standards. It is also a key area where the risk of fines and the costs of investigation are significant, making certification a worthwhile investment.
Identify assurance priorities
Assurance adds an extra layer to your ESG initiatives. Determining how to incorporate assurance into your ESG strategy will be important, so focus on your highest-risk priorities.
Select your assurance partner
Choosing an ESG assurance partner is a relationship built on trust. Since trust takes time to develop, we recommend starting early. It’s better to work on your own timeline than one imposed by a regulator.
Low-hanging fruit
There are likely some simple, easy wins for assurance, such as a whistleblowing programme or anti-bribery certification. These will strengthen your programme-building efforts and help you add an assurance layer.
Pauline Bailly
Pauline is the leader of our Assurance and Certifications business. Focused originally on ISO 37001 anti-bribery certifications, Pauline is now the lead for all assurance solutions across Speeki. She has a details-oriented and practical approach to helping companies prove the value of their ESG efforts to stakeholders through Assurance.
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Why assurance needs to be factored into your ESG strategy.
Assurance is an additional layer to your ESG strategy. It provides independent review, audit, and sometimes certification of your programmes. This adds strength, resilience, and trustworthy assessments to your ESG initiatives.
There is a growing international push for companies to have their ESG reports and statements reviewed and assured. This follows the model of financial reporting and adds another layer to ESG reporting. It’s clear that this is the direction of travel, and it’s likely to become mandatory in certain areas very soon.
Most assurance is carried out by experts in content areas, auditing, and assurance. The process offers significant benefits by highlighting gaps, non-conformities, and areas for improvement. It’s often an inexpensive way to drive improvement through feedback and recommendations.
Independent verification adds value because it is seen (accurately) as being more reliable, robust, and better able to withstand potential issues. Assured or certified systems manage non-conformities better because they detect issues earlier and handle corrections more effectively.
Achieving certification against a recognised standard is the ultimate demonstration of compliance. It shows not only that you meet requirements but also that you’re committed to improvement and striving for higher levels of achievement.
The risk of failure is reduced when a system has been reviewed, audited, and certified to a standard by an expert content provider. Lower risk means reduced costs, remediation, and potential fines or litigation. ESG assurance adds strength to your programme, reducing risk overall.
For management system certifications under ISO, a three-year certification cycle applies. When a company undertakes certification, it signifies a long-term commitment to maintaining and improving its management system, unlike a one-off audit or review.
FAQs
Speeki can support the development of an ESG-compliant management system using ISO 37301 by offering training, gap analysis, pre-audit services, and certification. This ensures effective risk management and compliance, while enhancing overall ESG initiatives.
Effective anti-bribery policies, risk assessments, employee training, and continuous monitoring are critical for ISO 37001 certification. Speeki assists companies through gap analysis, readiness assessments, and certification services, ensuring compliance and strengthening anti-bribery initiatives.
Implementing whistleblower programs and obtaining anti-bribery certification are examples of low-hanging fruit for ESG assurance. Speeki facilitates this by providing gap analysis, training, and certification services, helping companies quickly enhance their ESG initiatives and compliance.
The proposed European Corporate Sustainability Directive may require independent assurance for ESG reports, raising compliance demands. Companies can prepare with Speeki's support through early audits, readiness assessments, and building strong reporting frameworks to ensure compliance.
Assurance improves ESG initiatives by providing independent reviews that identify gaps and enhance compliance. Speeki's assurance solutions add value through audits, certifications, and tailored support, strengthening ESG frameworks and increasing stakeholder trust.
Certification for ESG initiatives boosts credibility, reduces risk, and demonstrates compliance with recognized standards. Speeki's certification process supports companies through detailed audits and guidance, demonstrating their commitment to continuous improvement and best practices in ESG.
Speeki provides a range of assurance solutions around ESG.
