[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.
This collaborative guidance marks the first joint publication between these Valuation Professional Organisations (VPOs), which collectively oversee over 142,000 members.
2 United States Securities and Exchange Commission
“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.
Email: brogers@appraisers.org
Email: kevin.floether@cbvinstitute.com
Email: sylvia_fong@acra.gov.sg
Email: ltan@rics.org
ASA is a world-renowned and respected international organization devoted to the appraisal profession. As the oldest and only major appraisal organization representing all appraisal specialists, ASA is dedicated to providing the highest possible standards in all areas of ethics, professionalism, education, and designation criteria. For more information about ASA, the ASA designation program for appraisers, or the Society’s free “Find an Appraiser” Referral System, visit www.appraisers.org or call (800) 272-8258.
CBV Institute leads the Chartered Business Valuator (“CBV”) profession, Canada’s only designation dedicated to business valuation. For more than 50 years, CBV Institute has upheld the highest standards of business valuation practice through education, accreditation and governance. CBV Institute is a leader in the international valuation community and is committed to advancing professional excellence for business valuation globally.
About Institute of Valuers and Appraisers, Singapore: Established under the umbrella of the Accounting and Corporate Regulatory Authority (ACRA), the Institute of Valuers and Appraisers, Singapore (IVAS) seeks to foster professional excellence in the domains of Business Valuation and develop Singapore into a Centre of Excellence for Business Valuation through promoting professional valuation standards, setting ethical and professional standards of practice< contributing to thought leadership, research and development, providing quality education and training curriculum, and promoting professional qualification and certification in Business Valuation. Through these initiatives, IVAS seek to broaden the talent pool, deepen the expertise of Business Valuation professionals, uphold the public trust in the role they perform and enhance the reputation of the Business Valuation profession in the region.
With a heritage of over 150 years, RICS sets the standard for over 130,000 members and candidates operating in the development and management of land, real estate, construction and infrastructure across more than 140 countries globally. Our trusted data and insight guides decision makers and governments helping to shape public policy, deliver positive societal change and provide a foundation for confident markets. Our members influence the quality of lives, underpin societies and drive economies. Everything we do supports our current and future membership to uphold, advance and inspire professionalism for the benefit of society.