Companies have been reporting on financial performances for years. However, reporting on other tangible and intangible values along social and environmental parameters is a new field for many.
The DNV Verification Protocol for Sustainability Reporting provides a transparent, structured, and comprehensive process for verifying sustainability reports. It assesses three different aspects: the collection, evaluation, and dissemination of information presented in sustainability reports.
Standardising verification framework
The DNV Verification Protocol presents unique concepts, mechanisms, and methodologies that standardise the framework for verification of sustainability reporting. Its aim is to satisfy the need for an internationally accepted standard.
The principles and concepts of the protocol are aligned with the Global Reporting Initiative (GRI) guidelines and the Assurance Standard AA1000AS. The methodologies and mechanisms of the protocol can equally be applied to sustainability reports based on other principles.
The structure and processes built into the DNV Verification Protocol are made to ensure that the Verification Report and the Assurance Statement provide a clear indication of the overall reliability of the reported data and completeness of the scope covered by the sustainability report.
Improve reporting processes and stakeholder trust
It is crucial that you have the appropriate reporting processes in place and that your sustainability report is viewed as trustworthy by your stakeholders. The mainstream investors and analysts, for example, are increasingly relying on independently verified social and environmental information in their valuation of companies.
An independent verification lifts the quality and credibility of the reporting process and the report, as well as enhancing stakeholder trust in the reporting organisation. External verification will also improve internal reporting processes.
Recognising that both sustainability reporting and independent assurance of the reporting are continuously evolving, the DNV Verification Protocol for Sustainability Reporting will be subject to timely revisions.
Where do I go from here?
For verification by an independent third party such as DNV, you need to implement an effective reporting system complying with the requirements of the DNV Verification Protocol. The first step is to get on the road to verification.
