Why?
ESG, as a new regulatory standard, is in the spotlight of entrepreneurs, a majority of which has already had to adapt to the new requirement. Compliance with ESG standards is a new field of expectations by investors, business partners, clients or employees.
Pursuant to the EU’s Corporate Sustainability Reporting Directive (CSRD), sustainability reports are to become an integral component of reports on company activity. Previously, the obligation to report sustainability data applied only to the largest entities under the Non-Financial Reporting Directive (NFRD). Other market participants could avoid this requirement or treat it as an optional tool for creating competitive leverage. Currently, the EU directive applies to a much wider range of companies, but it also significantly expands the scope of reported data, thus enforcing the integration of the ESG field into the business strategy.
The new obligations require enterprises to provide fully transparent reports of their sustainability results in the field of impact on the natural environment, stakeholders and corporate governance that supports sustainability. Failure to fulfil the reporting obligation or violations associated with disclosed information are subject to statutory penalties.
For whom?
ESG consulting services are primarily aimed at companies obliged to develop and disclose sustainability reports as per the reporting criteria and deadlines set out in applicable legislation.
However, please note that also companies that have not yet been formally obliged to develop and publish sustainability reports can already encounter the inability to receive financing on preferential terms or the absence of a possibility to establish or continue cooperation with specific entities, e.g., those who expects ESG standards to be satisfied by their vendors or business partners.
How?
We offer comprehensive support at each stage of developing and implementing an ESG strategy, and related to fulfilling ESG reporting obligations.
Our activities may include:
- the so-called gap analysis;
- the so-called double materiality analysis;
- implementing actions and programmes related to optimising ESG results;
- data collection and structuring;
- developing sustainability reports;
- verifying sustainability reports.
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