On the Need for Trust and Assurance in Sustainability Reporting

Sustainability reporting has advanced significantly, with many companies now disclosing extensive data. However, reliability concerns persist due to greenwashing, highlighting the need for robust trust structures, including independent verification. The IAASB's proposed sustainability assurance standards aim to be practitioner-agnostic, allowing non-auditors to provide assurance, though they must meet stringent ethical and quality controls. Competing standards may emerge, and success will depend on expertise, quality control, and cost-effectiveness.