Independent ESG Assurance: Why Korean companies shouldn’t wait
The next phase of ESG is verification
As ESG reporting becomes more widespread—and increasingly regulated—assurance is emerging as the next critical step. For Korean companies preparing disclosures under KASB, CSRD, or investor expectations, third-party ESG assurance is no longer optional. It’s fast becoming a requirement for credibility, comparability, and market trust.
What is ESG Assurance?
ESG assurance is an independent evaluation of a company’s sustainability disclosures—confirming that reported data is accurate, complete, and aligned with applicable frameworks (e.g. IFRS Sustainability Standards, CSRD/ESRS, or GRI).
It typically includes:
- Reviewing ESG data and supporting documentation
- Assessing alignment with reporting standards (e.g. materiality, metrics, governance)
- Testing internal controls and data quality processes
- Providing a formal assurance statement (limited or reasonable level)
Who requires ESG Assurance now?
CSRD (EU) mandates limited assurance for ESG reports starting FY2025, with a move to reasonable assurance after a few years.
KASB in Korea is following a similar trajectory, with assurance already a requirement for verified GHG data under K-ETS.
Investors and lenders increasingly expect third-party verification of ESG claims to reduce greenwashing risk.
Clients and buyers often require assurance before accepting supplier ESG reports as valid.
For Korean companies engaged globally, assurance is already a competitive differentiator—and soon, a gatekeeper.
Why it matters for Korean companies
Without assurance, ESG disclosures may lack credibility in the eyes of:
- Foreign regulators (e.g. EU, US, Australia)
- Institutional investors
- Global clients
- Rating agencies and index providers
More importantly, without assurance, companies may unknowingly publish inaccurate or non-compliant data, increasing reputational, financial, and legal risks.
How to prepare for ESG Assurance
Preparing for third-party assurance requires companies to:
- Ensure data consistency and traceability (audit trails)
- Formalise ESG governance and approval processes
- Align reporting with recognised frameworks (e.g. ESRS, IFRS, SASB)
- Conduct internal reviews or pre-assurance audits to identify gaps
- Choose an assurance partner with expertise in both ESG and local/global standards
Speeki offers assurance-ready ESG reviews, internal audit preparation, and ISO-qualified assurance services to support Korean companies ahead of mandatory enforcement.
Assurance is no longer the final step in ESG reporting—it’s an essential part of the process. Korean companies that build assurance into their ESG strategy today will reduce risks, increase trust, and be ready when the rules become mandatory tomorrow.
