Without rigorous measurement and accountability, it is difficult to establish realistic sustainability plans and implement viable actions. For many companies and organizations, this remains one of the main challenges, but a set of reminders can help them get on the path to a decarbonized economy.

The first one is: Put € where your impacts are. This graphic expression is often an A-ha moment when working with companies on their impact management and measurement assessment, because it sets a more familiar context: Economic viability is one of the three pillars of sustainability; Without it there is no company; But that does not mean that the financial profit is the company’s sole purpose.

Here is where the second reminder comes into play: Climate change is a consequence of bad accounting. It is a consequence of several centuries of failing to recognize the true cost of doing business. Because, for too long, the negative externalities of economic development have not been accounted for.

Today, they have finally become essential to doing business. In all the world’s leading economies, different policies require information on Environmental, Social, and Governance impacts. Some, like the EU, are extending the requirement onto the entire value chain. This shows how governments are increasingly seeking to align the private sector’s contributions with national priorities and to demand accountability from stakeholders.

Companies that choose to be proactive not only identify their main impacts but also the risks those impacts expose them to. In decarbonizing their activities, they also find opportunities. By lowering the carbon intensity, which is the amount of CO2 emitted per € of their production and services, they not only contribute to achieving the decoupling between economic growth and GHG emissions. They, at the same time, future-proof their organizations by increasing energy and material efficiency. This is a win-win situation we need to see more of, because to limit global warming to close to 1.5 °C, the pace of decarbonization needs to accelerate tenfold by 2040.

A good way to move forward is to apply the Impacts, Risks, and Opportunities (IRO) assessment, which is a central part of the Corporate Sustainability Reporting Directive (CSRD). It is a very good method for getting to a win-win. And here is where the third reminder comes in play: When you dig into the IRO, you will find the ROI. The conclusions from the Impacts, Risks, and Opportunities assessment will inform the optimal Return on Investment (ROI) from the organization’s sustainability work.

Focusing on these three reminders helps companies find a balance between profit and ethics. Additionally, the third-party Sustainability Declaration verification process helps reach that balance in a structured, responsible, and accountable way.

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About the Sustainability Declaration:

• It is a sustainability report format, created in Sweden and valid throughout the European Union and globally in all countries whose accreditation bodies are signatories to the International Accreditation Forum (IAF) Multilateral Recognition Arrangement (MLA).
• The Sustainability Declaration aligns with the ISO 26000 international standard and the Sustainable Development Goals (SDGs). Additionally, it can also be used in work on sustainability reporting in accordance with Swedish law, as well as the EU´s regulation and practice for sustainability reporting, CSRD. For the same purpose, the Sustainability Declaration includes a digital version of the appendices to clarify and enable the adaptation of an organization’s sustainability work and reporting to Swedish law and European standards developed within the CSRD (ESRS/VSME).
• The Sustainability Declaration allows the ESG reporting process to be adapted to the specific characteristics of the business, sector, and company size.
• VERIFY Agency is accredited to ensure the truthfulness, transparency, and quality of a company’s sustainability work. It is the world’s first accredited company to verify organizational sustainability claims according to the verification program SIS/TS3:2025