(MENAFN- 3BL)
NEW YORK and LONDON, October 15, 2024 /3BL/ - AccountAbility has published a new guide to help organizations review and verify their greenhouse gas (GHG) emissions. The guide is designed to complement the AA1000 Assurance Standard v3 and will assist professionals in evaluating GHG emissions data and processes. It also improves how organizations collect, manage, and report this information, which in turn builds transparency and trust in the market.
“Guidance on Assuring GHG Emissions with AA1000AS v3” coincides with increasing demand for greater clarity over GHG emission disclosures, particularly as regulators and stakeholders demand more information from companies on their operations and the impact they have on communities and environment.
AccountAbility CEO, Mr. Sunil (Sunny) A. Misser welcomed the change in mindset related to sustainability globally, with business recognizing the value of sustainability investments, knowledge, and impact.
“Stakeholders are using GHG information to forecast and test an organization's health. As such, the demand for more reliable GHG emissions data, and the transparency of processes used to collect and calculate these emissions, is growing.” Mr. Misser stated.“As we saw with financial information before it, I have no doubt that this information will be used increasingly to predict a company's future performance.”
Chair of AccountAbility's Standards Board, Ms. Amy Springsteel , also welcomed the addition of the Guidance document.
“The release of this guidance document will give reporting companies and assurance providers more certainty over the data required to verify GHG emissions,” Ms. Springsteel said.“Non-financial sustainability assurance professionals can provide an in-depth assessment of whether an organization's GHG data meets the expected benchmarks of reliability and quality, accuracy and comparability while also ensuring the information disclosed is most relevant to the reporting organization.
“As an example, this guidance document together with the AA1000AS v3 reviews the presence of a target, goal or milestone as well as the mechanisms used to measure its effectiveness and ultimately predict its performance, moving sustainability reporting from backwards looking to forward looking.”
Why Assure GHG Emissions with AA1000AS v3?
GHG data and information, as with other non-financial information, is now being treated with the same rigor and robustness as financial disclosures. Many organizations are expected or required to independently verify their GHG data through third parties. This extra level of assurance builds confidence in the methods used by the organization to calculate GHG emissions, while also standardizing the data in a way that fosters comparability and transparency for carbon accounting and reporting.
AccountAbility Standards Board member Dr. Glenn Frommer , an industry stalwart with decades of experience writing and contributing to international standards development, recognized the value of moving beyond reporting frameworks to provide assurance providers, and reporting organizations deeper value.
“The AA1000AS v3 helps assurance providers attest the subject matter provided in sustainability reports, which helps elevate the reporting organization's focus on sustainability value and impact to their investors and supply chain,” Dr. Frommer said.“AccountAbility's assurance standard and the GHG guidance document will ensure organizations contextualize their declared sustainability achievements as opposed to just stating them.”
The AA1000AS v3 and this GHG Guidance can complement other internationally recognized assurance standards and frameworks to enhance a user's overall assurance process.
About the AA1000AS v3
Intended to go well beyond simple data verification, the AA1000AS v3 focuses on the processes required for responsible and complete assurance engagements based on the AccountAbility Principles of Inclusivity, Materiality, Responsiveness, and Impact.
Companies that follow the AA1000 Principles in their ESG management and reporting and use the AA1000 Standards see the following benefits:
Increased credibility of their sustainability reporting and assurance processes and an improved alignment with external sustainability regulations and standards.
Adoption of a common language with investors, which builds confidence in sustainability information and helps investors make better informed decisions.
A culture of continuous improvement and innovation.
Read and download the GHG Guidance document
About AccountAbility
AccountAbility is a specialist global Consulting and Standards firm that works with businesses, investors, governments, and multilateral organizations to innovate and advance the global Sustainability/ ESG agenda by improving the practices, performance, and impact of organizations. The firm focuses on delivering practical, effective, and enduring results that enable our clients to succeed.
AccountAbility is a Public Benefit Corporation, operating globally through a highly qualified team from offices in New York, London, Riyadh, and Dubai. The firm is the recipient of multiple business awards from the Financial Times, Forbes, and Capital Finance International, and its website is archived with the United States Library of Congress.
Media Contact
Mr. Julian Cardillo
Marketing and Communications Manager, AccountAbility
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