Pathzero secures SOC 2 Type 1 compliance for enhanced cybersecurity

Pathzero, the Australian technology firm that enables the evaluation and management of corporate and financed emissions, has accomplished SOC 2 Type 1 compliance. This prominent certification enhances the data protection and cybersecurity of the company and its clients.

Through its Independent Assurance Report, Pathzero provides confidence regarding the system's description and the design of controls relevant to security, availability, and confidentiality. Their achievement of SOC 2 Type 1 compliance stands testament to the company's commitment towards enhanced data security. Compliance with SOC 2 showcases the company's fortified defences against cyber incursions, protecting sensitive information and averting data breaches.

According to Pathzero's CEO, Carl Prins, the accreditation underlines the company's commitment to a safe and secure platform for better clarity in private markets about financed emissions. He stated, "We are building an integrated network of connected entities to help improve the financial services sector's transition to a low carbon environment, and providing the utmost confidence in our technical capability, robustness, and commitment to data security is critical in that journey."

Prins further clarified, "Achieving SOC 2 Type 1 compliance means that our processes and systems have been rigorously evaluated and meet the required levels of security and data protection that our clients expect and deserve. This certification reaffirms our dedication to providing secure and reliable carbon accounting services that are simple to use, modular, credible, and connected."

While achieving SOC 2 Type 1 compliance is a significant feat, it is not a one-time accomplishment. It is noteworthy to mention that the accreditation signifies that the company's controls meet certain standards at a specific point in time. Pathzero emphasised their dedication to maintain vigilance, evaluation, and enhancement of their controls, in line with evolving threats and regulatory demands. Included in their plans is the pursuit of SOC 2 Type 2 certification.

The SOC 2 Type 1 Assurance Report evaluates the environment of internal controls relating to data confidentiality, security, and availability. The scrutiny examines the efficacy of these controls and validates their alignment with intended objectives. The evaluation is performed by an auditor assessing the company's systems and controls, ensuring they align with the Trust Services Criteria established by the American Institute of Certified Public Accountants (AICPA).

For Pathzero's user entities, including clients and stakeholders, the final Independent Assurance Report proves to be vital information. The document provides insights into the effectiveness of controls and clarifies the degree of confidence they can hold in Pathzero's internal measures regarding the security, availability, and confidentiality of their data.