Geneco SG’s Post

Decarbonise operations and sustainability reporting will play an increasing important role for local SMEs.

New findings for sustainability reporting. Environment + Energy Leader shared that around 24% of companies feel prepared for new and upcoming carbon accounting regulations, highlighting the need for technological advancements in collecting, analyzing, and reporting sustainability data. It looks like technology will play a pivotal role in meeting sustainability goals moving forward, from reducing carbon emissions to optimizing usage and supply chains. For those needing support, Atrius’ award-winning sustainability platform can tackle all your reporting needs to help keep ahead of the curve. Check out this article to learn more about sustainability reporting and @Atrius for more information! https://lnkd.in/ggfrjqiJ #Technology, #Atrius, #EnvironmentalImpact

Sustainability not a priority for half of UK firms As COP29 continues (11-22 November), analysis from business and financial adviser Grant Thornton UK LLP reveals that fewer than half (43%) of UK mid-sized businesses have sustainability targets, such as net zero, in place.    According to data from the firm’s quarterly International Business Report, which surveyed 301 mid-sized businesses in the UK (3,748 businesses globally), only 43% of UK businesses have sustainability targets in place, this is found to be higher than the global average (39%).  While many of the UK firms surveyed have still not implemented core steps on their sustainability journey, they are outperforming the global average in several areas including: 🌍 60% have implemented a sustainability strategy (51% globally)  🌍 46% have implemented sustainability reporting (40% globally)  🌍 28% have implemented a sustainability policy (25% globally) The study shows that there are several challenges facing UK mid-sized businesses when complying with sustainability regulations. Top concerns are:  💡 The speed at which requirements change  💡 The capital investment   💡 Understanding the requirements for different jurisdictions  Three-quarters of the firms polled – in the UK and globally – agreed that the need to understand the sustainability requirements of different jurisdictions forms a barrier to international business expansion.  However, almost two-thirds (63%) of the UK businesses polled expect to maintain or increase their investment in sustainability over the next year - above the global (58%) and European (53%) average – to invest in renewable energy, carbon reduction and sustainable procurement.  💡 Brand reputation is identified as the biggest driver behind UK and global businesses’ investment and focus on sustainability initiatives. 

Sustainability reporting depends on companies' genuine commitment to change, not just compliance. While firms disclose economic, environmental, and social metrics, meeting regulatory requirements alone may not drive internal improvements. California mandates greenhouse gas emissions reporting, reflecting global trends. Using reports for internal reflection and benchmarking can enhance operations, benefiting both business practices and societal outcomes.

“Starting from January, we have the CSRD directive implemented in the national legislation. We also have the first companies that started preparing for sustainability reporting. It is the first year in which large companies, with over 500 employees, must submit this sustainability report in 2025. From the estimates made in Romania, we will have approximately 5,000 – 6,000 companies that will have to report on sustainability criteria in the second wave. How prepared are the companies? Here the answer is relative because from our experience, it differs a lot depending on the size of the companies and the resources they have. Studies show that 70 percent of Romanian companies are aware of the sustainability report requirements, but only 30 percent are prepared for sustainability reporting,” Ana-Maria Iordache, Partner, D&B David si Baias said during Sustainability in Business Forum organized by The Diplomat-Bucharest and Sustainability Today. https://lnkd.in/dBgCPVKV

🌱💰 𝐔𝐩 𝐭𝐨 𝟕𝟎% 𝐏𝐫𝐨𝐠𝐫𝐚𝐦𝐦𝐞 𝐎𝐟𝐟𝐬𝐞𝐭 𝐟𝐨𝐫 #𝐒𝐌𝐄𝐬 𝐢𝐧 𝐅𝐢𝐫𝐬𝐭 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐑𝐞𝐩𝐨𝐫𝐭   In late 2024, EnterpriseSG will partner with appointed sustainability service providers to launch a new programme that enables SMEs to develop their first #sustainability report. The programme will be available for three years and up to 70% of the cost will be offset by EnterpriseSG in the first year. The offset for next two years goes up to 50%.   If your business has an annual revenue of S$100 million and above, you may be eligible for the new Sustainability Reporting Grant, which will cover up to 30% of qualifying costs, capped at S$150,000 per company, for developing first sustainability report.   ➡️ Want to jump onto the #green wagon and tap on the programme or grant? Drop us a message: https://lnkd.in/gHuaqpcK

Consultants have taken over sustainability reporting – and not for the better, write Kate Macdonald and Hendri Yulius Wijaya of the University of Melbourne in this op-ed. A growing number of companies have hired consulting firms to help them with ESG, but it's become a box-ticking exercise as a lack of checks has led to greenwash. #ESG #greenwash #sustainability #sustainable #finance

New findings for sustainability reporting.🔍 Environment+Energy Leader shared that around 24% of companies feel prepared for new and upcoming carbon accounting regulations, highlighting the need for technological advancements in collecting, analyzing, and reporting sustainability data. It looks like technology will play a pivotal role in meeting sustainability goals moving forward, from reducing carbon emissions to optimizing usage and supply chains. 📊 💡For those needing support, Atrius’ award-winning sustainability platform can tackle all your reporting needs to help keep ahead of the curve. Check out this article to learn more about sustainability reporting and Atrius! https://lnkd.in/gnsAS553 #Technology, #Atrius, #EnvironmentalImpact

New grant for large businesses to defray costs of sustainability reporting TO HELP businesses develop their first sustainability reports, a new grant will defray the costs that large companies incur, while a new programme will guide small and medium-sized enterprises (SMEs) through the process. The Sustainability Reporting Grant is for large companies with annual revenues of S$100 million and above. It will cover up to 30 per cent of qualifying costs, capped at S$150,000 per company, for the preparation of a company’s first sustainability report. This aligns very nicely with the announcement on how large non listed companies will have to make climate disclosures from FY 2027. #sustainability #grants #disclosures

I consult in sustainability (related to forest investment) and I agree with this. #Sustainability cannot be entirely outsourced. In fact, I would argue that the more heavily you integrate sustainability within your investment organization (including at investment committee, c-suite, and board level representation), the more resilient and successful your organization will be. Box-ticking #ESG reporting exercises are not only a #greenwashing risk, but can sweep important issues under the rug that will re-surface later, damaging more than credibility.