Data Verification Puts Credibility Behind Sustainability Efforts

With a growing push from investors, consumers and non-profits, more companies are seeking third-party data verification as a way of building credibility for their sustainability programs and greenhouse gas (GHG) reduction efforts, as well as to improve their profile on key reporting registries.

When the CEO of the world’s largest investment firm tells America’s corporate leaders they have a responsibility to do good, it’s clear that the pressure on business to practice – and report ­– sound environmental, social and corporate government policies is not going away.

“Your company’s strategy must articulate a path to achieve financial performance. To sustain that performance, however, you must also understand the societal impact of your business as well as the ways that broad, structural trends – from slow wage growth to rising automation to climate change – affect your potential for growth.” BlackRock CEO Larry Fink wrote to CEOs in January2018. He added: "Companies must benefit all of their stakeholders, including shareholders, employees, customers, and the communities in which they operate."

Verification Underpins a Credible Corporate Effort

Data verification is a key step in the credibility of such efforts, and a number of registries have grown up around the idea of collecting and reporting verified sustainability data as a tool for investors.

Let LR Guide You through the Process

As a verification provider to all three, and a contributor to the North American sustainability movement from its inception more than 20 years ago – LR's knowledgeable staff served on the writing committee for many of the standards in use – we have guided companies both large and small through the process of submitting reliable, complete and transparent data to these registries.

Our verifiers go through a rigorous training and competency process. Our process leverages our more than 20 years as a provider of verification services for a global client list.

Our clients trust us to ensure that their data are as accurate, reliable and comprehensive as they can be. But they have also come to rely on us to help them identify areas where they can benefit from doing things differently.

Sustainability is Good Business

After all, there is a well-established link between strong sustainability efforts and corporate performance. A recent Harvard Business School study shows that companies that performed well on factors related to sustainability also performed well in the market and enjoyed enhanced market returns compared with companies that didn’t.

Expert independent verification of sustainability data and reporting also works to reduce risks, drive improvement, promote better decision-making and reassure stakeholders.

At LR we offer assessment and verification services for compliance against a wide variety of standards and criteria, including:

  • ISO 14064
  • Report Assurance
  • World Resource Institute / World Business Council For Sustainable Development GHG Protocol
  • The Climate Registry
  • SMETA 4 Pillars
  • Federal, state and provincial regulatory programs around the world
  • A client’s internal procedures
  • Zero Waste Commitments
  • Scope 3 reporting for the supply chain

Our track record and expertise in sustainability verification has brought us clients like Carnival, Blackrock, Inc., Prologis, L.P., InterContinental Hotel Group (IHG), Marriott International, New York Metropolitan Transportation Authority (MTA), Republic Services, Royal Caribbean, ExxonMobil, Waste Management, The Gap Inc., P&G, Ford and Yahoo!, among others - who have come to realize that sustainability is not just good for the environment, it's good business.

Contact us to learn more about our sustainability verification services