Green Quadrant: ESG & Sustainability Assurance Services 2024
07 Nov, 2024
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Executive Summary
This report provides a detailed, fact-based benchmark of 14 of the most prominent ESG and sustainability assurance providers in the market. Based on the proprietary Verdantix Green Quadrant methodology, our analysis entailed two-hour live briefings, client interviews and assurance provider responses to a detailed 51-point questionnaire, covering five demonstrated capability and three momentum categories. The ESG and sustainability assurance services market has grown rapidly over the last two years, due to increasing regulation, heightened stakeholder scrutiny and concerns about greenwashing and reputational risk, as well as a broader trend towards integrated reporting. Amongst the providers featured in the Leaders’ Quadrant, five firms – Deloitte, DNV, EY, KPMG and PwC – demonstrated the most comprehensive and evolved services for ESG and sustainability assurance.
Summary for decision-makers
The state of the ESG and sustainability assurance services market
ESG and sustainability assurance is driven by both voluntary action and regulatory pressure
Talent shortages and limited regulatory guidance challenge the ESG assurance market
The scale and complexity of sustainability assurance is expanding, propelling investment in new technologies and specialized skills
Green Quadrant for ESG and sustainability assurance services 2024
Green Quadrant methodology
Evaluated firms and selection criteria
Evaluation criteria
Apex Companies overview
Analyst insight: Apex brings a technical lens to its sustainability assurance engagements
BDO overview
Analyst insight: BDO’s mid-market expertise makes sustainability assurance achievable for medium-sized firms
Bureau Veritas overview
Analyst insight: Bureau Veritas combines broad sustainability assurance expertise with local knowledge
DEKRA overview
Analyst insight: DEKRA draws on its TIC heritage to offer integrated sustainability assurance services
Deloitte overview
Analyst insight: Deloitte offers an integrated approach to sustainability assurance, streamlined by AI-enabled digital tools
DNV overview
Analyst insight: DNV’s sustainability assurance offering blends technical skills with sector expertise
ERM CVS overview
Analyst insight: ERM CVS offers broad and granular expertise across a wide range of sustainability assurance topics
EY overview
Analyst insight: EY leverages its investment in talent and technology to deliver a broad portfolio of integrated sustainability assurance services
Intertek overview
Analyst insight: Intertek draws on its TIC heritage and technical expertise for sustainability assurance
KPMG overview
Analyst insight: KPMG’s data and digital technology prowess underpins its approach to sustainability assurance
LRQA overview
Analyst insight: LRQA has extensive on-the-ground expertise in supply chain sustainability assurance
PwC overview
Analyst insight: PwC leverages technology alliances and cross-functional groups to deliver integrated assurance solutions
SGS overview
Analyst insight: SGS offers tailored sustainability assurance services to global clients, supported by its local expertise
UL Solutions overview
Analyst insight: UL Solutions draws on its environmental heritage to provide granular carbon emissions assurance
The state of the ESG and sustainability assurance services market
ESG and sustainability assurance is driven by both voluntary action and regulatory pressure
Talent shortages and limited regulatory guidance challenge the ESG assurance market
The scale and complexity of sustainability assurance is expanding, propelling investment in new technologies and specialized skills
Green Quadrant for ESG and sustainability assurance services 2024
Green Quadrant methodology
Evaluated firms and selection criteria
Evaluation criteria
Apex Companies overview
Analyst insight: Apex brings a technical lens to its sustainability assurance engagements
BDO overview
Analyst insight: BDO’s mid-market expertise makes sustainability assurance achievable for medium-sized firms
Bureau Veritas overview
Analyst insight: Bureau Veritas combines broad sustainability assurance expertise with local knowledge
DEKRA overview
Analyst insight: DEKRA draws on its TIC heritage to offer integrated sustainability assurance services
Deloitte overview
Analyst insight: Deloitte offers an integrated approach to sustainability assurance, streamlined by AI-enabled digital tools
DNV overview
Analyst insight: DNV’s sustainability assurance offering blends technical skills with sector expertise
ERM CVS overview
Analyst insight: ERM CVS offers broad and granular expertise across a wide range of sustainability assurance topics
EY overview
Analyst insight: EY leverages its investment in talent and technology to deliver a broad portfolio of integrated sustainability assurance services
Intertek overview
Analyst insight: Intertek draws on its TIC heritage and technical expertise for sustainability assurance
KPMG overview
Analyst insight: KPMG’s data and digital technology prowess underpins its approach to sustainability assurance
LRQA overview
Analyst insight: LRQA has extensive on-the-ground expertise in supply chain sustainability assurance
PwC overview
Analyst insight: PwC leverages technology alliances and cross-functional groups to deliver integrated assurance solutions
SGS overview
Analyst insight: SGS offers tailored sustainability assurance services to global clients, supported by its local expertise
UL Solutions overview
Analyst insight: UL Solutions draws on its environmental heritage to provide granular carbon emissions assurance
Figure 1. Key regulations mandating assurance of climate and sustainability information
Figure 2. Examples of how digital technology can add value to sustainability assurance
Figure 3. Approaches to preparing for external assurance of ESG and sustainability disclosures
Figure 4. ESG and sustainability assurance service lines
Figure 5. Demonstrated capabilities criteria for ESG and sustainability assurance
Figure 6. Momentum criteria for ESG and sustainability assurance
Figure 7. Assurance provider scores: demonstrated capabilities
Figure 8. Assurance provider scores: momentum
Figure 9. Green Quadrant for ESG and sustainability assurance services 2024
Figure 2. Examples of how digital technology can add value to sustainability assurance
Figure 3. Approaches to preparing for external assurance of ESG and sustainability disclosures
Figure 4. ESG and sustainability assurance service lines
Figure 5. Demonstrated capabilities criteria for ESG and sustainability assurance
Figure 6. Momentum criteria for ESG and sustainability assurance
Figure 7. Assurance provider scores: demonstrated capabilities
Figure 8. Assurance provider scores: momentum
Figure 9. Green Quadrant for ESG and sustainability assurance services 2024
Kingfisher, SAI Global Assurance, ArcelorMittal, SIX Swiss Exchange, Dow, EY, LBA Realty, CDP, Microsoft, Agro Bayer Brasil, GHG Protocol, KPMG, PlayerLync, European Financial Reporting Advisory Group (EFRAG), International Organization for Standardization (ISO), Diginex, DNV , Morgan Stanley Capital Partners, Global Reporting Initiative (GRI), S&P Global, Richwood Industries, Sustainable Assurance Solutions (SAS), Alcoa, Goodyear, C-MORE, European Commission, Italian Competition Authority (AGCM), LRQA, Titan Cement, Techtronic Industries, Johnson & Johnson, Suzano, Clean Energy Associates (CEA), International Auditing and Assurance Standards Board (IAASB), Worldly, Procter & Gamble, IFRS Foundation, MiQ, BDO, Coca-Cola (Türkiye), Trace for Good, European Parliament , UL Solutions, AccountAbility, LinkedIn, Apex Companies, Thyssenkrupp, Shell, Intertek, ERM CVS, International Federation of Accountants (IFAC), Securities and Exchange Board of India (SEBI), Bureau Veritas, DEKRA, Jabil, Pfizer, SGS, Tata Steel Europe, US Securities and Exchange Commission (SEC), EcoVadis, Deloitte, o9 Solutions, denkstatt, Responsible Jewellery Council (RJC), ELEVATE, UN, UK Sustainable Investment and Finance Association (UKSIF), SHEIN, PwC, Citigroup, Asia Pacific Loan Market Association (APLMA), US Center for Audit Quality (CAQ)
About the Authors
Lily Turnbull
Senior Analyst
Lily is a Senior Analyst at Verdantix, where she delivers in-depth research to help executives navigate ESG, sustainability and product innovation, and make confident decision…
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Jessie Wilson
Industry Analyst
Jessie is an Industry Analyst at Verdantix, with a research agenda spanning ESG reporting, the circular economy and supply chain sustainability. Jessie has a BSc in Geography …
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Kim Knickle
Research Director
Kim Knickle is a Research Director at Verdantix, bringing more than two decades of analyst experience to the evolving world of sustainability. Her current research spans ESG a…
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