The process of integrating ESG / Sustainable Development into the activities of enterprises and organizations
The first step is to check which sustainability issues are or should be important to the organization.
Dialogue
with stakeholders
It is important to know the perspective of stakeholders, what are their expectations towards the organization.
Dialogue
with stakeholders
Based on materiality analysis and dialogue with stakeholders, checking where we have gaps in relation to processes, policies or other elements related to sustainable development.
Based on the previous steps of the process, creating an ESG / Sustainable Development Strategy with measurable goals that will meet the needs of the company as well as stakeholders. It is crucial that the ESG/sustainable development strategy is part of the business strategy, is coherent and integrated with it.
Monitoring
the implementation
of the ESG Strategy
Control of the implementation of the ESG Strategy / sustainable development, introducing possible changes and corrections to the strategy.
Sustainability reporting is one of the key elements of the process, the report should enable the organization to be assessed in terms of managing its impact, risks and opportunities.
ESG Reporting
Verification
A well-executed ESG/Sustainability Reporting Verification confirms that our disclosures are correct and well calculated.
Examples of ESG consulting and support
- Determining sustainability impacts, risks and opportunities
- Assessing materiality in two dimensions (impact and financial)
- Selection of relevant themes and sustainability issues
- Survey
- Dialogue session
- Online dialogue session
- Structured interviews
- Defining important topics
- Selection of priorities/strategic directions
- Setting measurable goals
- Strategy implementation
- Strategy monitoring
- Double materiality assessment
- Selection of relevant topics and indicators
- Data collection
- Creation of final report content
- External verification
Double Materiality Assessment of ESG issues / Sustainable Development
One of the key elements of preparing both the ESG/sustainability strategy and the sustainability report in accordance with the CSRD and ESRS is assessing the relevance of sustainability issues for the organization.
Double Materiality Assessment should be carried out in two dimensions:
- impact materiality – assessment of how the organization currently affects or may affect the issues of sustainable development and financial materiality
- assessment of how sustainability issues currently affect or may affect the financial results of the organization
Double Materiality Assessment allows you to determine which sustainability topics are crucial for the organization and on which it should focus both when building its ESG/sustainability strategy and, consequently, in ESG/sustainability reporting.
We support our clients in carrying out a comprehensive
Double Materiality Assessment.
Dialogue with stakeholders
Dialogue with stakeholders is one of the key elements of building relationships, and creating ESG/ Sustainable Development strategy or an ESG/ Sustainable Development report, but in order to build these relationships, you must first determine who the key stakeholders in the organization are. That is why we help clients identify, map and then select key stakeholders.
Dialogue with stakeholders can take place in different forms, frequencies and with the participation of different stakeholder groups. As part of the support, we can offer various forms of dialogue with stakeholders, adapting to the requirements and needs of the organization.
Examples of dialogue forms:
Questionnaire
Online dialogue session
Live dialogue session
Structured interviews
ESG / Sustainable Development strategy
Constantly emerging new challenges as well as different expectations of various stakeholder groups in the field of sustainable development also make creation necessary and implementation in organizations of strategies that respond to these expectations and needs.
A well-planned, thought-out, properly arranged and monitored ESG/ Sustainable Development strategy related or integrated with the business strategy is currently one of the key elements of companies wanting to operate in a sustainable manner.
ESG / Sustainable Development reporting according to CSRD and other standards
In November 2022, the Council of the European Union finally approved the Corporate Sustainability Reporting Directive (CSRD).
The entry into force of the new reporting obligations is divided into four stages:
- In 2025 for the 2024 financial year - obligation for companies already subject to the Non-Financial Reporting Directive
- In 2026, for the 2025 financial year - an obligation for large enterprises not yet subject to the Non-Financial Reporting Directive - companies meeting 2 out of 3 criteria: over 250 employees, balance sheet total over EUR 20 million, annual revenue over EUR 40 million
- In 2027 for the 2026 financial year - Obligation for listed SMEs (except micro-enterprises), small and non-complex credit institutions and captive insurance companies
- In 2029 for the 2028 financial year - an obligation for companies from third countries, as long as they generate more than EUR 150 million in net sales in the EU and have at least one subsidiary or branch here exceeding certain thresholds
The European Financial Reporting Advisory Group (EFRAG) was responsible for developing the European Sustainability Reporting Standards (ESRS). The standards were adopted by the European Commission by way of a delegated act and are available here:
The new reporting obligation may bring many challenges for organizations that will be obliged to disclose information on sustainable development. We support organizations in carrying out the entire reporting process, starting from its planning and arrangement, through involvement in all subsequent elements of the process, to the creation of the final report.
We can also include our support during individual steps in the process, such as:
- Performing a double materiality assessment
- Establishing relevant topics
- Selection of indicators
- Collection of qualitative and quantitative data
- Support during external verification
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