Understanding the consequences of business on nature and people is now critical to transforming business models and markets to deliver sustainable economies. Companies are recognizing their impacts and dependencies on natural, social, human and produced capital (the capitals) form the foundation of financial decision-making to create human well-being and economic success.
Providing assurance on business impacts and dependencies on the capitals is an evolving field which must mature quickly to keep up with the global market and regulatory trends. A seismic change is coming for companies who seek to operationalize sustainability commitments, report on performance, and/or have their data assured to build credibility.
This report summarizes the steps required to increase decision makers’ confidence in natural, human and social capitals assessments through assurance and audit, presented through the themes of consolidation, education and advocacy.