Four Valuation Professional Organisations Release Joint Publication to Provide Guidance to Business Valuers on ESG Information Requests

[Singapore, 25 July 2025] - The American Society of Appraisers (ASA), Chartered Business Valuators Institute (CBV Institute), Institute of Valuers and Appraisers, Singapore (IVAS), and Royal Institution of Chartered Surveyors (RICS) have jointly released a publication to provide guidance to business valuation professionals in gathering Environmental, Social, and Governance (ESG) information during the valuation process.

The guidance responds to the growing demand for business valuation professionals to consider ESG-related risks and opportunities that can significantly impact a company’s value. It is particularly timely as businesses globally are preparing to comply with new sustainability reporting standards and requirements, such as the IFRS¹ Sustainability Disclosure Standards (IFRS S1 and S2), European Sustainability Reporting Standards (EU ESRS), and US SEC² climate-related disclosure requirements. 

Developed with the support of the International Valuation Standards Council (IVSC), the guidance references and builds upon the ESG-related considerations included in the International Valuation Standards (IVS). The IVS are principles-based standards; and their latest version became effective on 31 January 2025. 

The joint publication aims to assist business valuation professionals in their assessments of risks and opportunities, and in gathering relevant ESG information from companies to enhance the robustness and quality of valuations. 

This collaborative guidance marks the first joint publication between these Valuation Professional Organisations (VPOs), which collectively oversee over 142,000 members. 

“This guidance marks a significant step forward in addressing the relevance of Environmental, Social, and Governance (ESG) considerations in today’s business landscape. By offering practical tools and clear direction, it empowers valuation professionals to produce valuations that reflect both evolving regulatory expectations and the realities and complexities of modern corporate reporting. Building upon the foundation of International Valuation Standards (IVS 2025), this document equips practitioners to thoughtfully and seamlessly incorporate ESG factors into their analyses, thereby ensuring their valuations are thorough, reliable and aligned with the expectations of diverse stakeholders”.
- Mr Guillermo Ortiz de Zarate, Chief Executive Officer, American Society of Appraisers

“Understanding the business is fundamental to any robust valuation. Sustainability-related information, when material, offers valuable insight into the key drivers of value. This guidance supports valuation professionals in identifying and assessing ESG factors that may impact enterprise value. It builds on the requirements set out in the International Valuation Standards, helping professionals ask the right questions to deepen their understanding of the businesses they’re valuing.”
- Dr Christine Sawchuk, President & CEO, Chartered Business Valuators Institute (MEd, EdD, CPA, CA, CBV)

“This timely guidance assists business valuation professionals in navigating the increasing importance of ESG factors in corporate value and investment decisions. With evolving regulatory and corporate reporting requirements on the horizon, this document will empower professionals to produce more robust valuations by thoughtfully considering ESG factors and leveraging new disclosures. The guidance expands upon the International Valuation Standards (IVS 2025) requirements, enabling a pragmatic approach to seeking and analysing ESG-related information for the benefit of all stakeholders.”
- Mr Lie Kok Keong, Council Chairperson, Institute of Valuers and Appraisers, Singapore (CVA, CA)

“As global markets increasingly recognise the significance of ESG risks and opportunities, valuation professionals must be equipped to reflect these considerations in their analysis. This joint guidance offers practical tools to integrate ESG insights into business valuations, supporting consistency, transparency, and alignment with the International Valuation Standards. RICS is proud to contribute to this collaborative effort, helping valuers deliver assessments that are both rigourous and forward-looking.”
- Mr Ben Elder, Global Head of Valuation, Royal Institution of Chartered Surveyors (BA BSc FRICS ACIArb)

The publication is available to members of the participating organisations and can be accessed through their respective websites.

• ASA:

  https://www.appraisers.org/about/standards-ethics-and-policies/standards

• CBV Institute:

  https://cbvinstitute.com/wp-content/uploads/2025/07/ESG-Information-Requests-–-Guidance-for-the-Business-Valuation-Professional.pdf

• IVAS:

  https://www.acra.gov.sg/accountancy/professional-development/chartered-valuer-and-appraiser-programme/business-valuation-resources

• RICS:

  https://www.rics.org/profession-standards/rics-standards-and-guidance/sector-standards/valuation-standards

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¹International Financial Reporting Standards

²United States Securities and Exchange Commission