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🌍 New Research on EU Sustainability Reporting Standards Need for companies to enhance their sustainability reporting practices Frank Bold's latest report assesses the readiness of 100 companies across high-impact sectors for the upcoming EU Sustainability Reporting Standards (ESRS). Key findings highlight both challenges and emerging good practices: ⚠ Double Materiality: Only 15% of companies specified their material impacts, while 53% detailed sustainability-related risks. ⚠ Climate Transition Plans: 53% of companies have net-zero commitments, with 42% presenting comprehensive transition plans. ⚠ GHG Emissions: 89% disclosed Scope 1 and 2 emissions, but transparency on Scope 3 emissions remains insufficient. ⚠ Sustainability Due Diligence: 43% claim to have due diligence processes, yet only 6% link these to their materiality assessments. ⚠ Biodiversity: Reporting on biodiversity impacts is limited, with only 24% addressing these in their disclosures. If you are in a hurry 🏃♂️ - Read Page 8 - 10 ! What This Means: These findings highlight the need for companies to enhance their sustainability reporting practices. Focused, meaningful disclosures are crucial for meeting ESRS requirements and driving impactful change. Companies, auditors, and policymakers must collaborate to ensure effective implementation and avoid box-ticking compliance. My Message: As we move towards a more sustainable future, it's important that businesses align with the ESRS. This report provides valuable insights and recommendations to help companies manage complexities of sustainability reporting and make a real difference. #Sustainability #ESG #CorporateReporting #ClimateAction #FrankBold #CSRD #lessonslearnt

More valuable insights for effective implementation of sustainability reporting 🌍🌏🌎

During a recent European Union’s Corporate Sustainability Reporting Directive assessment, one large company calculated that it will need 20 people to comply with the CSRD. Are you looking to comply with CSRD without increasing your headcount? Use our highly advanced ESG Custodian platform. Together, we deliver your financially sustainable roadmap.. #ESGCustodian #CSRD #SustainableBusiness #SustainabilityRoadmap #ESG #Sustainability

Embrace sustainability with Impacta ESG Consulting as we chart a course for environmental stewardship and pioneering green solutions. Together, let's pave the way for a brighter, greener future. 🌱💡 Learn more about us at www.impacta.gr #ESGinAction #Impacta #IMPACTAesgConsultants #SustainableGrowth #ESG #DataAnalytics #Sustainability #EnvironmentalStewardship #GreenSolutions #SustainableFuture #ImpactaESG

🌳 CSRD – Strategy in Transitioning to a Sustainable Economy 📈 The Corporate Sustainability Reporting Directive (CSRD) through the European Sustainability Reporting Standards (ESRS) mandates companies to disclose their strategy related to sustainability. While there are no specific organisational and behavioural mandates, the disclosure requirements support the shift to sustainability as a core component of a company’s strategy and activities. 🎯 How is this achieved? 📊 ESRS 2 – General Disclosures: Companies must disclose how their strategy relates to or affects sustainability matters, how stakeholder views are included in the strategy, and how the materiality assessment informs the company’s strategy. 🌄 Environmental Topics (ESRS E1-E5): Covering Climate Change, Pollution, Water and Marine Resources, Biodiversity and Ecosystems, Resource Use and Circular Economy. Companies need to outline their plans and capacity to adapt their strategy in alignment with the transition to a sustainable economy and topic-related frameworks and legislation. For example, under ESRS E1 (Climate Change), companies must address their alignment with the Paris Agreement and efforts to limit global warming to 1.5°C. 👩⚕️ Social Topics (ESRS S1-S4): Covering Own Workforce, Workers in the Value Chain, Affected Communities, and Consumers and End-users. Companies must disclose whether and how stakeholder views are incorporated and inform their strategy. These stakeholders are considered key groups. This includes explaining how these impacts are connected to or originate from their strategy, how they inform changes to the strategy, and the relationship between these risks and opportunities and the company's strategy. 🏨 Governance Topic (ESRS G1): Focuses on Business Conduct. Companies must disclose their strategy for establishing, developing, and promoting a corporate culture concerning business conduct matters, including implementation and evaluation. They should also address how they manage relationships with suppliers concerning risks and sustainability. ⏩ What other key enablers in ESRS are essential for embedding sustainability into strategy? 📖 Resources: All ESRS Drafts: https://lnkd.in/dche7yvy #SustainabilityReporting #CSRD #ESRS #CorporateStrategy #SustainableEconomy

Two-thirds of US companies are out of the high to medium risk range on sustainability performance. https://okt.to/ruFWRY #ESG #environment #sustainability

FLUORSID is proud to introduce its Sustainability Report 2023 ➡️ https://lnkd.in/ez5iMf_d For the sixth consecutive year this significant work, according to the new Corporate Sustainability Reporting Directive, reflects the Group ongoing commitment to #Environmental, #Social and #Governance responsibility. With the aim of creating long-term shared value, the Report presents the achievement to ensure high quality products through a production cycle based on efficiency and circular economy, in compliance with strict environmental and social standards. The way forward is to always look to the #future, implementing sustainable strategies through concrete and measurable actions. #SustainabilityReport #Sustainability #CSRD #ESG #SDGs

ESRS, CSRD, EMAS and ESG, SDGs, UNGC, SBTs and GHG... 🎶 If the German Band “Die Fantastischen Vier” were to re-record their song "Mit freundlichen Grüßen", the acronyms above would certainly be included, because they have become indispensable in the business context and sustainability acronym jungle. Why are we telling you this? At least some of the terms appear in our sustainability update for the last six months and play a major role in our systematic approach to environmental management. 💡 You can find more information and all the details on the current status of our sustainability projects in the new sustainability update on our blog: https://lnkd.in/ezJswTgY For all those who are now in the mood for this song: You can find the link to the video in the comments! 🎧👇 #AdamHallGroup #Sustainability #Update

The European Commission adopted the European Sustainability Reporting Standards (ESRS) for all companies subject to the Corporate Sustainability Reporting Directive (CSRD). This marks another step forward in the transition to a #sustainable EU economy. The #ESRS covers 3️⃣ significant areas: 1. Environment (ESRS E1 - E5) - Climate Change (ESRS E1): Organizations must assess their greenhouse gas (GHG) emissions, set reduction targets, and outline their energy mix. - Pollution (ESRS E2): This involves evaluating pollution's impact on air, water, and soil, as well as identifying substances of high concern and microplastics. - Water (ESRS E3): Companies need to report on water usage, including total water consumed and its management. - Biodiversity (ESRS E4): Organizations must consider their impact on ecosystems and explore sustainable practices. - Circular Economy (ESRS E5): Focuses on resource efficiency and waste management, promoting recycling and durability. 2. Social (ESRS S1 - S4) - Own Workforce (ESRS S1): Reporting on working conditions and ensuring equal opportunities for all employees. - Workers in the Value Chain (ESRS S2): This standard emphasizes fair treatment and rights for all workers throughout the supply chain. - Affected Communities (ESRS S3): Companies must address their impact on local communities and uphold their rights. - Consumers and End-users (ESRS S4): Focuses on the social implications of products, ensuring privacy and safety for consumers. 3. Governance (ESRS G1) - Business Conduct (ESRS G1): This standard addresses corporate culture, whistleblower protection, and ethical relationships with suppliers, ensuring integrity in operations. Implementing the ESRS not only enhances corporate responsibility but also fosters trust among stakeholders, customers, and the community. It is a strategic step towards achieving sustainability and aligning with global goals. #SustainableEnergyAnalytics #ESG #Europe #Sustainable #SustainableDevelopment #EuropeanCommision

Last week, we celebrated #EnvironmentalDay, a reminder of how crucial sustainability is for our future. I am incredibly proud to work in a sector where companies like #Nexi are leading the charge to reduce carbon footprints and enhance operational sustainability. However, significant challenges remain, especially with the first year of CSRD reporting underway. In this context, young professionals entering the world of sustainability reporting can feel overwhelmed by the plethora of terms and regulatory frameworks frequently used in this field. For instance, when I first started, I often confused key regulatory pieces. To help bring some clarity, I'd like to explain the differences among three key items that will mark sustainability reporting for the next years, namely CSRD, ESRS, and EU Taxonomy. 1. Corporate Sustainability Reporting Directive (CSRD): The CSRD is a European Union directive aimed at enhancing and standardizing sustainability reporting across the EU. It replaces the Non-Financial Reporting Directive (NFRD) and significantly expands the scope and detail of required disclosures. The CSRD mandates that companies provide comprehensive and comparable sustainability information, which will be subject to mandatory auditing and assurance. This directive applies to a wide range of companies, including large public-interest entities and non-EU companies with substantial operations in the EU. 2. European Sustainability Reporting Standards (ESRS): The ESRS are detailed reporting standards developed to support the implementation of the CSRD. These standards specify the exact information companies must disclose regarding their sustainability impacts, risks, and opportunities. The ESRS are designed to ensure consistency and comparability in sustainability reporting, covering various ESG (Environmental, Social, and Governance) aspects. They include sector-specific standards to address unique challenges and opportunities within different industries. 3. EU Taxonomy: The EU Taxonomy is a classification system that establishes a list of environmentally sustainable economic activities. It provides a framework for determining whether an investment is environmentally sustainable, based on six environmental objectives: climate change mitigation, climate change adaptation, sustainable use and protection of water and marine resources, transition to a circular economy, pollution prevention and control, and protection and restoration of biodiversity and ecosystems. The Taxonomy aims to drive more investment into sustainable projects and activities, helping the EU achieve its climate goals. Understanding these differences is crucial for companies as they navigate the evolving regulatory landscape and strive to meet their sustainability goals. #Sustainability #ESG #CSRD #ESRS #EUTaxonomy #GreenFuture #EnvironmentalDay #SustainableBusiness #ClimateAction #CorporateResponsibility #EcoFriendly #SustainableDevelopment