Sustainability reporting provides credible information on sustainability to stakeholders, whose expectations and demands for sustainability data are increasing in a regulated business environment. In addition, sustainability reporting will soon be mandatory for large and listed companies.
Sustainability reporting soon to be mandatory
From 2024, the EU's Corporate Sustainability Reporting Directive (CSRD) will require all listed and large companies to report on their sustainability to a new standard. The CSRD will gradually make sustainability reporting mandatory for all companies that meet two out of three of the following criteria:
- More than 250 employees
- More than 40 MEUR turnover, or
- More than 20 MEUR balance sheet
In the future, the CSRD will also affect smaller companies, as most of them are part of the supply chains of larger companies affected by the CSRD standard.
Fortunately, sustainability is not limited to regulatory reporting. Instead, we help companies to understand their own potential in the sustainability market. ESG reporting is a great way to gather baseline data on sustainability issues, which can then be used to develop more comprehensive sustainability work.
What is the ESG reporting process?
- ESG reporting starts with defining priorities, building a set of metrics, and collecting data. In practice, we will work with you to identify which issues are relevant and important for your company's sustainability performance.
- Once the priority areas have been selected (e.g. resources and logistics), we will investigate what data we have on these areas and how we can possibly gather more.
- When the figures are on paper, the next step is to choose the used metric. For sustainability metrics, we often use frameworks that have been proven to work globally (e.g. Global Reporting Initiative, GRI), where suitable. We are also knowledgeable on the development of the new European Sustainability Reporting Standards (ESRS) of the CSRD. These ESRSs will harmonize sustainability reporting standards and provide comparable information on companies' sustainability performance.
The process may sound complex, but our competent and experienced team is responsible for coordinating the data collection and metrics. We can utilize accounting data in many ways, so the metrics don't have to be reinvented multiple times.
How does our team help with sustainability reporting?
- We grow with our customers - we help develop sustainability in a way that works best for your business
- Our experts are supported by specialists in different areas (e.g. finance, analytics, HR, data, training)
- We promise to bring clarity to your sustainability work, targets, and metrics
- Our experienced and highly skilled sustainability experts want to help you to build the business of the future