Companies have been reporting on their financial performance for years. However, reporting on other tangible and intangible assets along social and environmental parameters is a new field for many.
Standardized verification framework
The DNV Verification Protocol presents unique concepts, mechanisms, and methodologies that standardize the framework for verification of sustainability reporting. It assesses three different aspects: the collection, evaluation, and dissemination of information presented in sustainability reports. 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 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. 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 enhances stakeholder trust in the reporting organization. External verification also helps improve internal reporting processes.
Recognizing that both sustainability reporting and its independent assurance are continuously evolving, the DNV Verification Protocol for Sustainability Reporting is subject to timely revisions.