Verification and Assurance Services
Independent scrutiny of impact processes and performance claims is crucial to drive both learning and accountability.
We provide a range of verification and assurance services to help organisations:
- Ensure they’re on the right track to deliver meaningful results
- Signal credibility to shareholders and wider stakeholders
- Reflect on and refine their impact management systems
- Align with industry norms and standards
As recognised leaders in the impact space, we help inform global norms and standards – so we know what best practice impact measurement, management and reporting looks like.
Our Offer
We work with clients to help them identify and integrate real-world impact considerations into their strategic and operational decision-making. Our verification and assurance services help investors to understand, enhance and communicate their impact investments with integrity and confidence.
Case Studies
Our clients include pension funds, family offices, asset managers, foundations and not-for-profit organisations. While our engagements are confidential we are proud to share a selection of case studies to demonstrate the depth and breadth of our work.
Snowball Case Study
A certified B Corporation, Snowball is purpose-built to help serious investors use their money to shape a better world, profitably. The fund is invested across two interconnected themes (social equity and environmental sustainability) into opportunities that use capital to add value rather than extract it.
The Good Economy verified Snowball’s impact framework and its alignment with industry norms and standards.
Impact Verification
We provide independent verification of an organisation’s impact framework and assess alignment to industry standards and best practices.
Impact Assured is The Good Economy’s best-in-class verification methodology, based on our industry leading expertise and track record of advising clients on practical approaches to embedding impact.
Our rich whole-of-industry benchmarks allow clients to compare their practices to other impact investors. Peer examples and actionable recommendations are provided as standard for all verifications.
Our methodology is specifically designed to verify alignment with the Impact Principles – also known as the Operating Principles for Impact Management. Over half of all global impact assets are now managed in line with the Impact Principles.
How Does Verification Work?
Holistic Assessment
A thorough examination of your impact measurement and management system over a four to six week period, considering every aspect of your approach and operations that contributes to sustainable outcomes.
Practical Recommendations
Based on our assessment, we provide you with actionable recommendations to enhance your processes, maximising your impact potential.
Comprehensive Benchmarks
You’ll receive a detailed report, outlining our findings, assessing your practices against industry standards, benchmarking both against peers and the wider industry.
Why Choose The Good Economy?
- Credibility: With our verification, you gain instant credibility and recognition as being aligned with leading industry frameworks.
- Competitive Edge: Stand out from your peers and gain a competitive advantage by showcasing your verified impact approach to stakeholders, investors and customers.
- Impact Amplified: By fine-tuning your processes, you'll unlock the true potential of your impact initiatives, leading to more profound and lasting change in the communities you serve.
- Expert Guidance: Our team of impact specialists brings years of expertise to the table, offering you invaluable insights and support throughout your social impact journey.
Assurance
At Impact Assured, we understand that credibility and trust are paramount when it comes to sustainability and impact. That’s why we offer a service to assure impact data, disclosures and reports against internationally recognised audit standards.
We are a licensed provider of the AccountAbility AA1000 Assurance Standard, the leading sustainability standard used by thousands of organisations worldwide. As well as assessing information quality and reliability, AA1000 AS assures the underlying processes and systems used to generate impact performance data in a way that is inclusive of stakeholder concerns.
We believe that just as shareholders expect a financial statement to be audited, stakeholders should expect the same rigour and external scrutiny to be applied to information about sustainability and impact.
All of our engagements are carried out in line with the highest professional and ethical standards. Principles of integrity, objectivity and professional competence are embodied in The Good Economy’s Code of Conduct and Impact Assured internal policies. We are bound by the AA1000AS Code of Practice with preconditions to ensure the independence and quality of assurance engagements.
SDR Assessment
Our comprehensive SDR Assessment service helps fund managers to comply with the new rules. For each investment product, we can carry out either:
- A gap analysis to ensure products are positioned to meet the SDR criteria and disclosure requirements, as well as providing guidance on which label is most appropriate for the product; or
- Independent verification to give confidence the qualifying criteria have been applied correctly and meet the requirements of the chosen sustainable investment label.
Both types of assessment provide bespoke recommendations on how to strengthen alignment with SDR and / or SFDR based on the client strategy and asset class.
Using our Impact Assured methodology, we provide a comprehensive assessment of your impact framework, comparisons with peers and wider industry good practices. Each gap analysis ends with a roadmap of the ‘top 10’ prioritised recommendations and advice on how to strengthen specific processes and practices.
Our assessment is built on the three pillars of impact management: The intentionality to contribute to positive outcomes; the integration of impact into key decision-making processes; and the integrity demonstrated through practices such as governance, learning and disclosures that drive continuous improvement of impact performance.
Gap Analysis
Our comprehensive Gap Analysis helps ensure your approach to impact measurement and management is on the right track.
Using our Impact Assured methodology, we provide a comprehensive assessment of your impact framework, comparisons with peers and wider industry good practices. Each gap analysis ends with a roadmap of the ‘top 10’ prioritised recommendations and advice on how to strengthen specific processes and practices.
Our assessment is built on the three pillars of impact management: The intentionality to contribute to positive outcomes; the integration of impact into key decision-making processes; and the integrity demonstrated through practices such as governance, learning and disclosures that drive continuous improvement of impact performance.
How Does it Work?
Thorough Examination
Our experts delve deep into your impact approach, scrutinising every aspect to unveil hidden opportunities and challenges you might have missed.
Identify Key Areas for Improvement
We meticulously identify gaps in your strategy – from planning and execution to monitoring and evaluation – helping you refine each stage for optimum impact.
Tailored Recommendations
You’ll receive a tailored report with actionable recommendations. Our insights are designed to empower you to make informed decisions that lead to impactful change.
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