NEW YORK and LONDON, February 1, 2023 – AccountAbility, the trusted global ESG consulting and standards firm with a close to three-decade history in helping leaders build better companies, continues to expand global access to its principles-based sustainability guidance with today’s launch of the Korean language translation of its AA1000 Assurance Standard (AA1000AS v3).
With this announcement, AccountAbility extends its market leadership in Korea as the most used assurance standard in the country according to the International Federation of Accountants 2021 State of Play in Sustainability Assurance study. The global benchmarking study was designed to understand current market practice for the assurance of ESG information, globally. 1400 companies across twenty-two jurisdictions were reviewed.
As the worlds twelfth largest economy, and fourth largest in Asia, Korea represents an important and fast-growing region for AccountAbility, where the brand is highly trusted among sustainability leaders. This translation becomes a valuable tool in helping companies in Korea apply the leading methodology used by sustainability professionals worldwide for sustainability-related assurance engagements. The new translation is available for free download from 9:00am ET on February 1, on the AccountAbility website.
“More than a set of rules, AA1000 standards represent how AccountAbility believes businesses should operate. We have witnessed how much our standards have been adopted by many leading businesses in Korea, and the growing philosophy towards sustainable business in the country. In easing access to our standard, we believe this latest translation of AA1000AS v3 will further accelerate adoption, enhancing the country’s social and economic success.” Comments Duncan Lee, Manager, AccountAbility.
The translation of the AA1000AS v3 into Korean was sponsored and translated by KSA (Korean Standards Association) and KOSRI, and peer reviewed by Han Consulting Group, JDJ Envest and QESG (Qauntified ESG Inc.)
“Along with the global trend of strengthening sustainability information disclosure, the demand for reliability and verifiability of sustainability data has also increased in Korea. Since 2010, the Korean Standards Association has contracted as a licensed assurance provider of AccountAbility and has provided sustainability reports assurance services. In this respect, we are pleased to collaborate in translating the AA1000AS v3 into Korean with AccountAbility, which has long provided the standard for global sustainability reporting assurance. We hope this Korean version of the standard increases the reliability and transparency of corporate sustainability reports in Korea.” Says Myungsoo-Kang, Chairman, KSA.
“The publication of the Korean version of AA1000AS v3 is a significant result for the systematic establishment of sustainable management. With consistent growth over the past 60 years, Korea is the first developed country recognized by the UNCTAD since its establishment. In a sustainability field rapidly expanding after the COVID-19 crisis, we expect the multifaceted efforts of Korea to contribute to the world significantly. Particularly, as we see the increasing participation of Korean companies in various global initiatives towards the environment, resilience, and an inclusive society.
Ensuring the accuracy of sustainability management disclosures is a top priority for stakeholders, and Korea is well aware of AccountAbility's contribution to assurance reliability. We expect the release of the AA1000AS v3 Korean version will serve as an opportunity not only to spread sustainable management practices in Korea but also to further increase Korea's contribution to resolving the challenges for the future of all humanity.” Comments Chongjae Lee, Representative researcher, KOSRI.
"Congratulations on the release of the long-awaited Korean version of AA1000AS v3. As I participated as a peer reviewer this time, I think the Korean version of AA1000AS v3 will be of great help in conducting sustainability reporting assurance. In the future, I believe that AccountAbility's standard will play an important role in the ESG/Sustainability reporting advisory, and report publication practices in Korea." Says Lee Seung-yong, CEO, Han Consulting Group.
“It has been a great honor to collaborate with AccountAbility as a peer reviewer on the Korean translation of the AA1000AS v3. I am sure that making the Korean version of the standard process available in Korea will have a very positive impact on understanding and enhancing the application of best sustainable management and stakeholder practices in Korea.” Comments Dr. Moo Hoon Kim, Managing Partner of JDJ ENVEST and Professor of Kyung Hee University.
“AA1000AS is one of the world's most widely used stakeholder-centered organizational reporting assurance standards. While international sustainability reporting standards are being prepared, the AA1000AS provides a foundation for stakeholders to trust an organization's performance through reliable verification protocols. Korea is one of those countries that are seriously trying to embed sustainability into organizational performance and connect it to capital markets. The publication of the AA1000AS Korean translation is expected to meet the needs of various organizations and contribute to the accountability journey of Korean organizations.” Comments Ikhyun Bae, CEO, QESG Inc.
The latest versions of other standards in the AA1000 Series of standards, are available for free download at http://www.accountability.org/standards/.
About AccountAbility AccountAbility is a global consulting and standards firm that works with businesses, investors, governments, and multilateral organizations on ESG matters to achieve opportunities, advance responsible business practices, and transform their long-term performance. We focus on delivering practical, effective, and enduring results that enable our clients to succeed. Learn more at www.accountability.org.
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