VEON – independent assurance strengthens the credibility of ESG reporting for global telecoms provider

www.veon.com

Challenge

VEON is a global digital operator providing connectivity and digital services across multiple markets, with operations spanning several countries and business units. As part of its 2025 Integrated Annual Report, VEON asked Challenge Sustainability to strengthen the credibility and robustness of its ESG disclosures by proving assurance across a wide range of topics.

The underlying challenge was not simply data availability, but ensuring that information collected across headquarters and multiple operating companies was consistent, well-controlled and supported by clear methodologies.

In our experience, this is where many global organisations face difficulty — aligning definitions, processes and judgement across diverse operating environments.

Our approach

Challenge Sustainability was appointed as independent assurance provider for VEON’s 2025 Integrated Annual Report, delivering a limited assurance engagement in line with ISAE 3000 (revised).

Our work focused on a defined set of ESG KPIs, including:

  • Environmental performance (Scope 1 & 2 GHG emissions, energy use)
  • Ethics and compliance (anti-corruption training, SpeakUp reporting)
  • Data privacy and cybersecurity
  • Health and safety metrics
  • Talent development and diversity
  • Digital inclusion and access

Our approach included understanding how data was generated, consolidated and reported across the organisation. In particular, we:

  • Focused on areas of higher judgement and estimation, including emissions and group-level consolidation
  • Tested consistency of methodologies and definitions across operating companies
  • Engaged directly with local teams to understand data flows, controls and practical constraints

Outcomes

Our assurance provided VEON and its stakeholders with independent, objective confidence in the integrity of its ESG disclosures.
Key outcomes included:

  • Enhanced confidence in reported data
  • Improved KPI consistency across operations
  • Stronger data governance and controls
  • Clearer basis for stakeholder communication
  • A stronger platform for future strategy and reporting

“Challenge Sustainability brought a clear understanding of where our data systems would benefit from additional scrutiny, and worked pragmatically across our operating companies to build a robust audit trail.”