Heat Plant with Coal Fuel in Tarnow, Poland.

Energy and Utilities

 

With the implementation of more EU ESG (Environmental, Social and Governance) reporting standards this year, companies in the energy, utilities and decarbonisation sector will face even more pressure to ensure compliance in areas like sustainability, ethical labour practices, and environmental impact.  The new legislation has been introduced as part of the EU’s Green Deal, and aims to improve transparency, accountability and sustainability across various sectors.  

Given their reliance on natural resources, complex supply chains, and global workforces, companies in the energy, utilities, and decarbonisation sectors will be especially affected by new legislation – such as the EU “green claims” directive, which rules that environmental claims made regarding products must be clear, accurate and substantiated in order to prevent greenwashing. This point is particularly relevant to companies working in decarbonisation, who must be able to provide accurate reports on whether decarbonisation initiatives are actually working. 

Amid the already extensive ESG reporting requirements, these additional EU regulations further complicate an already challenging compliance landscape, leaving companies struggling to keep up with the constantly evolving standards. 

The Challenge

 

Companies that specialise in energy, utilities, and decarbonisation will need to ensure they are meeting EU regulations by implementing strict environmental and labour practices.  They will also need to meet all reporting requirements, which will likely involve improving supply chain transparency and evidence collection.

Additionally, businesses will need to align their internal strategies with evolving ESG frameworks to avoid potential fines, legal consequences, and reputational damage from non-compliance or accusations of greenwashing.  

Our Solution

Unannounced Supplier Inspections

Ground Truth Reporting gives you an accurate understanding of real-world conditions across your supply chains.

Environmental Impact Monitoring

Going beyond basic reporting, we provide independent verification that you are meeting your stated environmental commitments.

Bespoke Services

Whether you are concerned about worker conditions or claims of greenwashing, VICTVS provides personalised solutions that meet your specific needs. 

Engineers discussing a pipe channel

The Outcome

 Ground Truth Reporting from VICTVS offers a comprehensive solution to ESG challenges, providing you with the independent verification and detailed insights necessary to navigate these challenges successfully.  Our reporting enables companies to:  

  • Ensure compliance with complex regulations. 
  • Mitigate risks associated with environmental impact, labour practices, and ethical governance. 
  • Enhance data accuracy for reliable ESG reporting. 
  • Improve stakeholder trust and access to investment opportunities. 
  • Gain a competitive advantage in an industry where sustainability is increasingly valued. 
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Independent Inspectors

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Source of Truth

What our Clients Say

“Working in oil and gas regulation means that I understand the requirement for accurate reporting on ESG matters so that we can ensure the sustainability of our business.  Ground Truth gives me this.“

B Taylor, Head of Compliance, Drilling

Find out how Ground Truth Reporting can help you.

For more information about our work with the Fashion and Retail industry, please contact us here.

 

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