Sustainability is no longer an option for companies. It is a requirement. The European Union’s Corporate Sustainability Reporting Directive (CSRD) introduces a rigorous framework for transparency on companies’ environmental, social, and governance (ESG) performance. This is not just a matter of compliance, but also a strategic opportunity. Companies that embrace sustainability gain a competitive advantage, enhance their reputation, improve their financial viability, facilitate the financing of their investment plans, and attract investors.
Konstantinos Mavropoulos, Head of Sustainability & Water related Engineering Division & Head of Research & Development Division at TÜV AUSTRIA Hellas
At the heart of this effort are accredited Certification and Verification Bodies operating under the international standard ISO 17029. These organizations provide independent, reliable and impartial verification to ensure that sustainability reports are accurate and fully compliant with international standards.
In particular, these Verification and Certification Bodies, which have been serving the certification market for decades, have developed unique expertise and are accredited by competent accreditation organizations in accordance with European Regulation 765/2008. They specialize in the management and verification of data focused on specific aspects of sustainability, such as environmental performance, social responsibility and corporate governance, according to international standards. This expertise enables them to assess both qualitative and financial data that demonstrate the authenticity of a business model and its sustainability strategy. This is crucial because the assessment of sustainability reports goes far beyond the narrow confines of a financial or accounting audit.
In addition, these Verification and Certification Bodies have a long history of verifying sustainability reports against reporting standards such as the GRI under the pre-existing European Non-Financial Reporting Directive (NFRD), which assesses non-financial data.
There is a unique opportunity for companies that are required to produce annual verified sustainability reports while maintaining certified management systems and verification mechanisms. These systems and processes support the ESG indicators that are the cornerstone of sustainability reporting. By working with reputable Verification and Certification Bodies, companies can leverage their expertise in the comprehensive review and assessment of these systems and mechanisms. As a result, companies gain access to high-quality accredited services that meet regulatory requirements, achieve real economies of scale, and realize significant benefits.
Verification and Certification Bodies specialize in verifying greenhouse gas emissions based on regulatory frameworks such as the EU Emissions Trading System (EU ETS). They also verify compliance with international standards such as ISO 14064, ISO 14067, ISO 14068 and ISO 14083, which relate to the measurement, management and reduction of emissions to combat climate change. They also have extensive expertise in certifying environmental and energy management systems such as ISO 14001, EMAS, and ISO 50001, as well as social responsibility standards such as SA 8000 and AA1000. This broad specialization allows them to understand the challenges and needs of companies in managing sustainability issues.
Working with Verification and Certification Bodies significantly reduces administrative costs, saves valuable resources and ensures that sustainability reports meet the highest standards.
As one of the leading Verification and Certification Bodies globally and in Greece, TÜV AUSTRIA has the necessary expertise to verify sustainability reports and ESG indicators for compliance with the European Sustainability Reporting Standards (ESRS) under the CSRD.
With one of the most competitive portfolios of accredited sustainability verification and certification services, as well as environmental, social and management system certifications, TÜV AUSTRIA helps companies ensure the reliability of their reports, reduce administrative costs and meet the requirements of the green transition. This expertise makes it a strategic partner for any company seeking integrated solutions to succeed in the new regulatory environment and build a sustainable future with transparency and credibility.