Factors affecting ESG reporting:
- Climate change
- Pollution
- Water consumption and sea resources
- Biodiversity and ecosystems
- Waste and closed circuit economy
- Employees in the organization including diversity and inclusiveness, equal opportunities, development, health, and security
- Employees in a value chain
- Society
- End consumers and users
- Sustainable development management
- Strategy
- Assessment of the impact, risks, and opportunities related to sustainable development
- Business ethics
- Counteracting corruption
- Management of relationships with suppliers
CSRD directive
In November 2022, the Council of the European Union finally approved the directive on the reporting of enterprises in the field of sustainable development (CSRD).
The entry into force of new reporting obligations is spread over four stages:
- In 2025 for the financial year 2024 - an obligation for enterprises already subject to the directive on non -financial reporting
- In 2026 for the financial year 2025 - an obligation for large enterprises not subject to the directive on non -financial reporting - companies meeting 2 out of 3 criteria: above 250 employees, balance sum above EUR 20 million, annual revenues above EUR 40 million above
- In 2027 for the financial year 2026 - an obligation for listed SMEs (except for micro enterprises), small and unsettled credit institutions and internal insurance companies
- In 2029 for the financial year 2028 - an obligation for enterprises from third countries, provided that they generate over 150 million EUR of net revenues in the EU and have at least one subsidiary here or one branch exceeding certain thresholds
The European Advisory Group for Financial Reporting (EFRAG) is responsible for developing European Sustainable Development Reporting standards (ESRS). The European Commission will adopt the final version of these standards through an act delegated in June 2023.
Our ESG reporting tools provide:
Our tools are flexible solutions that we are able to adapt to the guidelines of GRI (Global Reporting Initiative), SASB (Sustainability Accounting Standards Board), IIRC (International Integrated Reporting Framework) and UNGC (UN Global Compact). We integrate and present in reports data and requirements contained in various documents, e.g. ISO 26 000 standards, Sustainable Development Goals or other documents included in the ESG strategy in your company.
We are involved in the process of creating the ESG report at every stage of the process-from conception and strategy, through the data collection model and implementation of the tool to automate the process (IBM Planning Analytics, Qalcwise), measurement of results, ending with the final, visual report (Certent CDM).
The most important challenges regarding the usability and effectiveness of ESG reporting*
No link between ESG reporting and financial information
No real-time information
There is no information on how the company creates long-term value
Lack of focus on the really important aspects
No forward-looking disclosures
* based on the Deloitte Sustainability Consulting Central Europe 2021 report
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