ESG Ratings Assurance & Verification Market Size, Share, Opportunities, And Trends By Service Type (ESG Data Verification, ESG Assurance and Compliance Services, ESG Rating Advisory and Assessment, ESG Reporting and Disclosure, Others), And By Geography – Forecasts From 2025 To 2030
Description
ESG Ratings Assurance & Verification Market Size:
The ESG ratings assurance & verification market is expected to grow at a high CAGR over the forecast period.
The ESG Ratings Assurance & Verification Market is witnessing rapid growth. This is due to an increase in regulatory mandates and investor expectations in sustainability reporting. Frameworks such as the EU’s Corporate Sustainability Reporting Directive (CSRD) and the U.S. SEC climate disclosure rule came into effect. These regulations have made it necessary for companies to obtain third-party assurance on their ESG disclosures. Organisations have started to use independent verification providers' services to check the accuracy of ESG data.
Independent verification providers help in the reduction of greenwashing risks and enhance stakeholder trust. ESG also includes social factors such as labour practices, diversity, ethical conduct, and supply chain transparency. Innovations such as AI-driven analytics, blockchain for traceability, and real-time data monitoring are transforming the verification process. This helps in making it more scalable, transparent, and auditable. ESG performance has become a key determinant of access to capital, market reputation, and regulatory compliance.
ESG ratings assurance & verification Market Overview & Scope:
The ESG Ratings Assurance & Verification market is segmented by:
- Service Type: Sustainable supply chains have a considerable share in the ESG ratings assurance & verification market. There has been an increase in global focus on ethical sourcing, which has led companies to ensure sustainability within their operation and entire value chain. Regulatory mandates such as the EU’s Corporate Sustainability Due Diligence Directive (CSDDD) require businesses to disclose their ESG risks and their impact. Organisations are increasingly using third-party assurance of supply chain ESG data to manage risk and win the trust of their stakeholders.
- Region: The Asia-Pacific ESG ratings assurance & verification market is witnessing significant growth. This is due to the increase in regulatory frameworks and an increase in emphasis on corporate sustainability. Countries like India and China are actively working to improve their ESG frameworks. This is done to increase the reliability and trust of stakeholders and investors in the region. The businesses have started to seek independent assurance of their ESG data to meet investor expectations.
Top Trends Shaping the ESG Ratings Assurance & Verification Market:
1. Escalating Regulatory Pressure & Mandatory Assurance: The EU’s CSRD, coming into force on January?1,?2025, requires large companies to obtain limited, then reasonable assurance on ESG disclosures, driving massive demand for independent verification.
2. Technological Transformation: AI, Blockchain & Real-Time Data- Assurance providers are integrating AI/ML, blockchain, IoT, and satellite imagery to automate data collection, detect anomalies, enhance traceability, and enable real-time ESG assurance
3. Third?Party Assurance as a Trust Differentiator Amid Greenwashing Risks: Investors and regulators are demanding independent verification to counteract greenwashing, propelling third?party assurance into a must-have credibility tool.
ESG Ratings Assurance & Verification Market Growth Drivers vs. Challenges:
Drivers:
- Regulatory Mandates for ESG Disclosure and Assurance: One of the key drivers of the ESG ratings assurance & verification market is the regulatory mandates for ESG disclosure and assurance. Governments and regulatory bodies worldwide are introducing mandatory ESG reporting and assurance requirements, significantly boosting demand for independent verification services. In November 2024, the European Council, Council of the European Union, adopted a new regulation on environmental, social, and governance (ESG) rating activities.
- Rising Demand for ESG Transparency and Credibility from Investors: Another key driver of the ESG ratings assurance & verification market is the rising demand for ESG transparency and credibility from investors. Institutional investors, asset managers, and financial institutions are increasingly demanding reliable, verified ESG data to assess risks and align with sustainable finance regulations. According to Morgan Stanley's 2024 report, over half of individual investors intend to boost their allocations to sustainable investments within 2025, and more than 70% believe that robust ESG practices can contribute to stronger financial returns.
Challenges:
- Lack of Standardisation Across ESG Frameworks: One of the biggest challenges in the ESG ratings assurance & verification market is the lack of uniform global standards for ESG disclosures and assurance procedures. Different regions have different frameworks, such as GRI, SASB, CDP, TCFD, and now ESRS under the EU CSRD. This fragmentation leads to confusion, reporting fatigue, and higher compliance costs for companies operating globally. It also complicates the overall verification process. Companies may report the same ESG metric differently under various standards, complicating the assurance process. Verifiers must interpret and audit multiple frameworks, which increases the time and cost of engagements.
ESG Ratings Assurance & Verification Market Regional Analysis:
- Sweden: It has universal healthcare, gender equality leadership, excellent education, and high labour standards. It also has high political stability, transparency, and low corruption. It has strong ESG regulations and corporate disclosures.
- Denmark: One of the first countries to implement mandatory ESG reporting under the EU taxonomy. It is also considered a world leader in wind energy, green investment and circular economy policies.
- Switzerland: It is considered a key player in green banking and sustainable investment. It is focused on sustainable finance, climate-neutral targets, and clean energy adoption.
- Finland: Finland was one of the first to integrate ESG into national investment strategies. Tech companies of Finland lead in ESG-aligned digital transformation.
ESG Ratings Assurance & Verification Market Competitive Landscape:
The market has many notable players, including MSCI ESG Research, Morningstar, Inc., S&P Global Inc., Deutsche Börse Group, EcoVadis, London Stock Exchange Group plc, Bloomberg L.P., CDP, Moody’s ESG Solutions, Clarity AI, among others.
- Product Launch: In February 2025, Diginex Limited announced the launch of the ESG Ratings Support Service. The innovative service is designed to help businesses secure ESG scores across key rating agencies, including CDP, EcoVadis, Sustainable Fitch, S&P Global, and Sustainalytics, some of the world’s leading ESG ratings providers.
ESG Ratings Assurance & Verification Market Segmentation:
By Service Type
- ESG Data Verification
- ESG Assurance and Compliance Services
- ESG Rating Advisory and Assessment
- ESG Reporting and Disclosure
- Others
By Region
Table Of Contents
1. EXECUTIVE SUMMARY
2. MARKET SNAPSHOT
2.1. Market Overview
2.2. Market Definition
2.3. Scope of the Study
2.4. Market Segmentation
3. BUSINESS LANDSCAPE
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
3.4. Porter’s Five Forces Analysis
3.5. Industry Value Chain Analysis
3.6. Policies and Regulations
3.7. Strategic Recommendations
4. TECHNOLOGICAL OUTLOOK
5. ESG RATINGS ASSURANCE & VERIFICATION MARKET BY SERVICE TYPE
5.1. Introduction
5.2. ESG Data Verification
5.3. ESG Assurance and Compliance Services
5.4. ESG Rating Advisory and Assessment
5.5. ESG Reporting and Disclosure
5.6. Others
6. ESG RATINGS ASSURANCE & VERIFICATION MARKET BY GEOGRAPHY
6.1. Introduction
6.2. North America
6.2.1. USA
6.2.2. Canada
6.2.3. Mexico
6.3. South America
6.3.1. Brazil
6.3.2. Argentina
6.3.3. Others
6.4. Europe
6.4.1. United Kingdom
6.4.2. Germany
6.4.3. France
6.4.4. Italy
6.4.5. Spain
6.4.6. Others
6.5. Middle East & Africa
6.5.1. Saudi Arabia
6.5.2. UAE
6.5.3. Others
6.6. Asia Pacific
6.6.1. China
6.6.2. India
6.6.3. Japan
6.6.4. South Korea
6.6.5. Thailand
6.6.6. Others
7. COMPETITIVE ENVIRONMENT AND ANALYSIS
7.1. Major Players and Strategy Analysis
7.2. Market Share Analysis
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Competitive Dashboard
8. COMPANY PROFILES
8.1. MSCI ESG Research
8.2. Morningstar, Inc.
8.3. S&P Global Inc.
8.4. Deutsche Börse Group
8.5. EcoVadis
8.6. London Stock Exchange Group plc
8.7. Bloomberg L.P.
8.8. CDP
8.9. Moody’s Corporation
8.10. Clarity AI
9. APPENDIX
9.1. Currency
9.2. Assumptions
9.3. Base and Forecast Years Timeline
9.4. Key benefits for the stakeholders
9.5. Research Methodology
9.6. Abbreviations
Companies Profiled
MSCI ESG Research
Morningstar, Inc.
S&P Global Inc.
Deutsche Börse Group
EcoVadis
London Stock Exchange Group plc
Bloomberg L.P.
CDP
Moody’s ESG Solutions
Clarity AI
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