Leading testing, inspection and certification (TIC) company SGS and Sustainability-focused data solutions company Diginex announced today the formation of a new strategic alliance, aimed at providing ESG data assurance services. According to the companies, the partnership will enable sustainability reports created using the Diginex platform to be assured by SGS’s Sustainability Report Assurance services.

The new partnership comes as companies and investors face increasing regulatory pressure to measure, reduce, and report on their ESG and climate-related risks, and to comply with emerging standards and reporting regimes, including the EU’s Sustainable Finance Disclosure Regulation, and mandatory disclosure requirements in jurisdictions including the UK and likely the U.S.

According to the companies, providing external assurance for sustainability reports will help companies, particularly small and mid-cap, to meet the rising demands for transparency, with the additional effect of providing stakeholders such as banks and investors with unprecedented insight into the quality of their portfolio’s independently verified ESG data.

Jill Dumain, Global VP, Sustainability Solutions, SGS, said:

“Data without verification is a slippery slope, particularly for small and medium-sized businesses that are striving to keep on top of the latest regulations.

“We are excited to partner with Diginex to provide our tried-and-tested, independent ESG data assurance services to their customers and help businesses of all sizes access simple technologies and tools to make their sustainability reporting process as efficient and rigorous as possible.”

Diginex stated that it has been “on a mission to introduce products that enable companies of all sizes to collect, collate and share their sustainability credentials, both easily and transparently.” The company recently launched DiginexESG, a blockchain-enabled ESG reporting platform, aimed at helping companies of all sizes and reporting experience make their ESG reporting faster, easier and more affordable.

Mark Blick, CEO, Diginex, said:

“We are now entering a new phase of ESG reporting, primarily driven by regulatory pressure. This means that tools, such as DiginexESG that allows businesses to take control of their data and respond to non-financial reporting demands, are becoming an essential part of a business’ toolkit.”

“We are delighted to announce this strategic partnership with one of the most trusted and renowned brands in this space. We look forward to working with SGS to enable businesses of all sizes to not just report on their ESG data, but to also have it independently verified, so they can maintain a competitive and lucrative edge.”