There are no generally accepted standard for assurance on reports of sustainability. Since there is an increase in the need of ensuring the reliability of the greenhouse gas data in relation to emission trading schemes, the national bodies like International Auditing and Assurance Standard Board have issued a consultation paper which can later develop into an international standard in this field .However National Accounting bodies and the European FEE constantly put pressure on IAASB to evolve a standard or atleast a guidance document on sustainability report assurance. Countries are using tactics like demand pressure on companies to improve their disclosures on environment practices. National and international government agencies are also more likely under pressure to review the need for regulated reporting requirements for key industry sectors (‘Corporate Environmental Reporting’, 2015).
Environmental reporting is a practice of how the documents in the public company particularly that in Europe and US as well as the quality of information can also be satisfactory evaluated in the environmental performance. The main motive of an environmental reporting is that it helps in setting guidelines for companies and also seeks in such a way that the nature and standards can also be produced as an effective environmental report. The committee of the organization also supports the engagement of the department as well as practices good corporate responsibility (Schreck, 2009).The committee too regulated that a director’s duties and sustainability reporting are all assigned in the correct manner. The stakeholders are mainly forced as the public companies use the environmental reporting in collaborating and providing services. Non-profit organizations also engage with the corporations in such a manner that partnership programs also provide training and advisory services such that it can design improved standards and carry out monitoring and auditing (enviroreporting, n.d.).
There are many corporations that can work as isolated economic entities and they too focus on environmental reporting for the following reasons:
• The shrinking role of government- governments have also relied on certain estimated legislation and regulation such that there is great influence on the customer objectives in the business sector.
• Demands for greater disclosure- the growing demand from stakeholders is also important as it involves investors and activists organizations.
• Increased customer interest- there is great amount of evidence that can provide purchasing decisions of customers.
• Supplier relations- stakeholders affects the business events which ensures that partners conducts themselves in a socially responsible manner and code of conduct can also ensure the practices for the reputation(IISD, n.d.).