Building brand legitimacy in new markets

Sarah Brown
Apr 8, 2024
3 min read

Audit firms are ramping up their capabilities to assess sustainability reports, but the industry is still adapting to the evolving ESG assurance landscape. In publishing its 2023 Sustainability Report, Mazars used the opportunity to build brand legitimacy within the emerging ESG assurance market.

The Corporate Sustainability Reporting Directive (CSRD) in the EU, alongside similar regulations globally, now requires companies to obtain external assurance on their sustainability disclosures. While audit firms are investing in ESG expertise, the industry is still catching up with the rapid regulatory changes. Larger firms are leading the charge, while smaller firms must scale quickly or risk being left behind.

In this evolving environment, Mazars leveraged its 2023 Sustainability Report to strengthen its position as a trusted leader in sustainability assurance. Here are three key strategies they employed to build brand legitimacy:

Building Brand Resonance: Creating an Emotional Connection

To establish legitimacy, a brand must first connect with clients on an emotional level. This is known as brand resonance—the alignment of a company’s actions with its core values. Brand resonance fosters relationships and builds trust with target audiences.

The Brand Resonance Pyramid consists of four layers:

Identity: Who are you?
Meaning: What do you stand for?
Response: How do consumers feel and think about your brand?
Relationship: The ultimate goal—achieving brand loyalty and advocacy.

Mazars' values—Integrity, Responsibility, Diversity & Respect, Technical Excellence, Independence, and Stewardship—are deeply embedded in its sustainability efforts. By prioritizing ESG in its business strategy, Mazars aligns its actions with its commitment to creating a fair and prosperous world. This emotional connection with stakeholders enhances brand trust and differentiation in the market.

Establishing Credibility: Thought Leadership and Transparency

To strengthen legitimacy, businesses must demonstrate expertise and a deep understanding of the regulatory environment. Thought leadership plays a critical role in shaping industry discussions and positioning a brand as a trusted authority.

The Mazars Sustainability report used key tactics for building brand credibility:

Understanding the Market & Audience: It emphasises that businesses must stay informed about sustainability trends and emerging ESG regulations.
Providing Thought Leadership: It published insights, research, and expert commentary to help establish the brand's authority in the field.
Leveraging Influencers and Partnerships: It collaborated with sustainability leaders and industry influencers to enhance credibility.
Leading Regulatory Adaptation: As regulations evolve, it positions the brand as being proactive in ensuring compliance and setting best practices.

Mazars understands the challenges clients face in navigating ESG reporting. By openly sharing its own sustainability journey, Mazars not only demonstrates transparency but also reinforces its role as a reliable ESG advisor. In an era where greenwashing is a growing concern, honesty and accountability are critical to maintaining credibility.

Driving Impact: Delivering Meaningful ESG Solutions

Companies today must go beyond compliance and actively contribute to sustainability efforts. The demand for ESG-aligned investments has intensified, requiring businesses to provide transparent and accurate sustainability data. With over 130 voluntary and 100 mandatory ESG reporting provisions introduced in recent years, companies must navigate an increasingly complex regulatory landscape.

Mazars offers a compelling value proposition:

Helping clients integrate sustainability into their core business strategies.
Providing comprehensive ESG auditing and assurance services to ensure regulatory compliance.
Supporting businesses in achieving long-term resilience and competitiveness.

With nearly 400 dedicated ESG specialists across its international partnership, Mazars is well-equipped to guide businesses through their sustainability transformations. By embedding ESG into financial and operational decision-making, Mazars ensures that its clients not only meet regulatory standards but also drive meaningful impact.

As sustainability regulations tighten, companies that prioritize ESG will not only meet compliance requirements but also build long-term trust and resilience in the market. For audit firms and businesses alike, the time to lead in sustainability is now.