Tipps & Learnings aus der EFRAG-Studie zu den ersten CSRD-Berichten
04.10.2024

EFRAG-Studie: Learnings und Tipps für Ihren CSRD-Bericht 

Die EFRAG hat einige der ersten ESRS-Nachhaltigkeitsberichte analysiert und die Ergebnisse in einer umfassenden Studie veröffentlicht. Hier finden Sie die Learnings aus der Untersuchung und unsere Tipps zur CSRD-Umsetzung.

Im Jahr 2024 haben einige Unternehmen ihren ersten freiwilligen Bericht nach den ESRS (European Sustainability Reporting Standards) veröffentlicht. In einer Studie hat die EFRAG einige dieser ersten ESRS-Berichte analysiert.

Die European Financial Reporting Advisory Group (EFRAG) ist eine unabhängige Beratungseinrichtung der EU, die die Entwicklung von Berichtsstandards, insbesondere im Bereich der Nachhaltigkeit, vorantreibt. Sie hat die ESRS, die Standards zur Umsetzung der CSRD, mit entwickelt.

Unternehmen, die sich erstmals mit der Nachhaltigkeitsberichterstattung beschäftigen, erhalten durch die Studie Learnings, Best-Practice-Ansätze und Hilfestellungen. Wir haben uns das umfangreiche Dokument angesehen und für Sie übersichtlich aufbereitet.

In diesem Beitrag erhalten Sie: 

  • Praktische Ansätze zur ESRS-Umsetzung sowie ihre Vor- und Nachteile
  • Dos & Don’ts für Ihren CSRD-Bericht
  • Unsere 5 Top-Tipps für einen CSRD-konformen Bericht

Praktische Ansätze zur ESRS-Umsetzung sowie ihre Vor- und Nachteile

Die EFRAG hat sich die bisherigen Berichte aus vier Perspektiven angesehen:

  • Wie sind die Unternehmen die Doppelte Wesentlichkeitsanalyse angegangen?
  • Wie wurden die Datenpunkte ausgewählt und wie war die Qualität der Beantwortung?
  • Wie detailliert wurde die Wertschöpfungskette in den Berichten abgebildet?
  • Wie waren die Verantwortlichkeiten im ESG-Berichtsmanagement geregelt?

Für diese vier Perspektiven hat die Organisation unterschiedliche Ansätze beobachtet, die alle ihre Vor- und Nachteile haben. Je nach Erfahrung, Datenlage und Organisation sind unterschiedliche Ansätze für Unternehmen sinnvoll. Mit dieser Übersicht erhalten Sie Inspirationen für die Umsetzung in Ihrem Unternehmen:

Thema Vorläufig beobachtete Ansätze Vorteile Nachteile
Doppelte Wesentlichkeitsanalyse Basierend auf Datenerhebungen, ergänzende Einbindung von Stakeholdern und Expert:innen Objektive, evidenzbasierte Bewertung von wesentlichen Themen Qualität und Effizienz können leiden, wenn wenige oder unpräzise Daten vorhanden sind und Expert:innen nicht ausreichend einbezogen werden
Basierend hauptsächlich auf Input von externen Stakeholdern und internen Beteiligten Breitere Spanne von möglicherweise wesentlichen Themen kann den Horizont weiten Themenvielfalt kann überfordern; Bewertungen könnten subjektiv sein
Datenpunkte Bewertung der Wesentlichkeit auf Ebene einzelner Datenpunkte (Bottom-up) Präventives Aussortieren von unwesentlichen Datenpunkten spart Arbeit und verschlankt den Bericht aufs Wesentliche Das Konzept der Wesentlichkeit auf Datenpunktebene (“Ist dieser Datenpunkt für das Unternehmen wesentlich?”) wird selten vollständig verstanden
Nutzung der Phase-in-Optionen (Auslassung von Datenpunkten im ersten oder zweiten Berichtsjahr) Unternehmen können sich besser auf den Aufbau der Datenbasis, die Korrektheit des Berichts und den Aufbau von Prozessen fokussieren Vergleichbarkeit (Basisjahre etc.) nicht konsistent und ggf. irreführend; Sorge vor dem Übersehen von Berichtspflichten
Offenlegung aller Datenpunkte ohne Nutzung der Phase-in-Optionen Sicherstellung, dass keine Berichtspflicht übersehen wird Hoher Aufwand; möglicherweise sind nicht alle Datenpunkte relevant; geringere Datenqualität aufgrund des größeren Berichtsumfangs
Wertschöpfungskette Stark segmentiertes Mapping (z. B. nach Produktionsstufen) Sehr detaillierte Berichterstattung mit einer hohen Transparenz Schwierig, das Gleichgewicht zwischen Aggregation und Granularität zu finden; branchenspezifische Leitlinien wären hilfreich
Grobe Aggregation (z. B. auf Gesamtstufen von Upstream, Downstream und eigenen Operationen Verschlankung des Berichts; ein Überblick ohne Detailtiefe ist für Leser:innen oft ausreichend Kann die Bewertung von IROs auf der richtigen Detailebene einschränken und möglicherweise Nuancen komplexer Wertschöpfungsketten übersehen
Über direkte Geschäftsbeziehungen (Tier 1) hinausgehen Hohe Transparenz; vollständige ESRS-Konformität Begrenzte Datenverfügbarkeit, insbesondere für Finanzinstitute; Schwierigkeiten bei der Anwendung über Tier-1-Beziehungen hinaus
Fokus nur auf direkte Geschäftsbeziehungen (Tier 1) Daten sind in diesem Bereich eher vorhanden; für einige Unternehmen ist nur Tier 1 wesentlich Nicht konform mit ESRS-Anforderungen; Informationsverzerrungen und unzureichende Berücksichtigung wesentlicher Auswirkungen im Zusammenhang mit indirekten Geschäftsbeziehungen
ESG-Berichtsmanagement Eine Person ist in der Hauptverantwortung; häufig aus dem Bereich Nachhaltigkeit oder Finanzen Es gibt eine klare Ansprechperson im Unternehmen Schulungen sind erforderlich, um den Führungskräften umfassende Kenntnisse im Management von ESG-Inhalten und Datenmanagement zu vermitteln
Gemeinsame Verantwortung zwischen Abteilungen (z. B. Finanzen und Nachhaltigkeit) Eine Aufteilung der Verantwortung wird möglich; Skills können gebündelt werden Erfordert klare Governance und regelmäßige Foren für Updates, Koordination und Entscheidungsfindung zwischen den beteiligten Abteilungen

Dos & Don’ts für Ihren CSRD-Bericht

Dos:

Strukturieren Sie die Nachhaltigkeitsberichterstattung klar: Legen Sie klare Verantwortlichkeiten für Berichtsprozesse, Datenlieferung, Überprüfung, Kommunikation etc. fest – ähnlich wie bei der Finanzberichterstattung.

Beziehen Sie interne und externe Expert:innen ein: Führen Sie Workshops und Interviews durch, um fundierten Input – insbesondere für Ihre wesentlichen Themen – zu erhalten.

Kommunizieren Sie Umfang, Ziel und Zweck des Berichts intern und extern: Ein gemeinsames Verständnis zur CSRD-Berichtspflicht fördert eine konsistente Datenqualität und einen einheitlichen, lesbaren Bericht.

Don’ts:

Vermeiden Sie eine zu hohe Aggregation der Daten: Wenn Sie Daten, Prozesse und Beschreibungen zu allgemein oder kurz fassen, können relevante Informationen untergehen.

Keine rein subjektiven Einschätzungen: Greenwashing war gestern – die CSRD fordert Beweise für Ihre Aussagen. Ergänzen Sie qualitative Informationen immer durch datenbasierte Nachweise.

Berichten Sie keine überflüssigen Datenpunkte: Vermeiden Sie es, mehr Datenpunkte als notwendig aufzunehmen, da dies von relevanten Informationen ablenken kann.

Praxisleitfaden: Fit für den ersten CSRD-Bericht

Unser Praxisleitfaden mit Checkliste erleichtert Ihnen den Einstieg und die Vorbereitung auf die CSRD und die ESRS.

Unsere 5 Top-Tipps für einen CSRD-konformen Bericht

  1. Klar definierte Prozesse etablieren: Entwickeln Sie klare Prozesse für die Datenerhebung und Berichterstattung – nur so können Sie Konsistenz und Zuverlässigkeit sicherstellen.
  2. Die Berichterstattung gut organisieren: Etablieren Sie klare Verantwortlichkeiten und fördern Sie die bereichsübergreifende Zusammenarbeit. Bei der Umsetzung der CSRD müssen alle Abteilungen anpacken.
  3. Datengap-Analyse durchführen: Nutzen Sie die EFRAG Implementation Guidance 3. Damit finden Sie Ihre Lücken in der Datenerhebung und können diese schließen.
  4. Lieferkette schon jetzt mitbedenken: Trotz der Übergangsfristen raten wir Ihnen schon jetzt dazu, an der Transparenz Ihrer Lieferketten zu arbeiten – denn Lieferantendaten einzuholen gelingt auch mit einem Top-Tool wie dem Supply Chain Hub nicht von heute auf morgen.
  5. IT-Integration: Trennen Sie sich von den unübersichtlichem Excel-Listen und implementieren Sie eine Software wie den VERSO ESG Hub, der für die Sammlung und Berichterstattung der über 1.000 Datenpunkte gemacht ist.

Fazit

Unser Fazit zur Studie der EFRAG: Es gibt für die Umsetzung der CSRD-Berichtspflicht unterschiedliche Ansätze. Es zeichnet sich aber ab, dass die Anforderungen nur erfüllbar sind, wenn

  • eine hohe Datenqualität vorhanden ist,
  • der Fokus auf den wesentlichen Themen, Angabepflichten und Datenpunkten liegt und
  • die berichtspflichtigen Datenpunkte faktenbasiert und detailliert berichtet werden.

Dazu sind eine zentrale Datenerhebung und klare Kommunikation der Anforderungen essenziell. Es sollten genügend Zeit und Ressourcen für die Wesentlichkeitsanalyse eingeplant werden. Und zum korrekten Reporting ist umfangreiches Wissen (intern und/oder extern) über die einzelnen Anforderungen notwendig.

Sie brauchen hierbei Unterstützung? Bei VERSO gibt es alles aus einer Hand: Software, Consulting und Weiterbildung.

* Bei diesen Informationen handelt es sich um redaktionell zusammengefassten Content, der nicht als Rechtsberatung zu verstehen ist. VERSO übernimmt keine Haftung. 
10 CSRD-Tipps
23.09.2024

10 CSRD-Tipps für
ESG-Verantwortliche

„CSRD – was müssen wir da genau machen?” Viele Unternehmen stehen vor dieser Frage. Der Umfang der Berichtspflicht und der dazugehörigen ESRS-Standards ist sehr herausfordernd. Verlieren Sie nicht gleich die Nerven – mit diesen 10 CSRD-Tipps fällt Ihnen der Start leichter.

Der erste Blick auf die Anforderungen der Corporate Sustainability Reporting Directive (CSRD) und der European Sustainability Reporting Standards (ESRS) kann den Puls von Nachhaltigkeitsverantwortlichen schonmal erhöhen. Die CSRD ist zwar herausfordernd, aber das ist noch lange kein Grund zur Panik! Hier sind 10 CSRD-Tipps für Sie, wenn Sie sich erstmals mit der europäischen Berichtspflicht auseinandersetzen.

CSRD-Tipp 1: Betroffenheit von ESG-Regularien klären

Verschaffen Sie sich einen Überblick über die CSRD und darüber, ob Ihr Unternehmen betroffen ist und wann Sie erstmals berichten müssen. Klären Sie ab, ob Sie von weiteren ESG-Regularien betroffen sind oder sein werden. Denn ggf. können oder müssen diese Regularien im CSRD-Bericht mit abgedeckt oder berücksichtigt werden. Wichtig sind in diesem Zusammenhang unter anderem die EU-Taxonomie, das deutsche Lieferkettengesetz LkSG und die europäische Lieferkettenrichtlinie CSDDD. Einen Überblick über die CSRD gibt es im Factsheet CSRD.

CSRD-Tipp 2: Den Berichtsstandard ESRS genauer anschauen

Um den Umfang und die Anforderungen der CSRD an Ihren Nachhaltigkeitsbericht zu verstehen, ist es wichtig, dass Sie zumindest einen groben Überblick über das Framework, die ESRS, haben. Keine Sorge, Sie müssen dazu nicht alle über 1000 Datenpunkte lesen und verstehen: Am besten schauen Sie sich hier den Aufbau des ESRS-Berichts an. Und falls Sie doch genauer reinschauen wollen, können Sie sich auf der Website der EFRAG alle ESRS-Standards in der Originalversion herunterladen.

CSRD-Tipp 3: Die Theorie mit der Praxis verknüpfen

Es gibt einige Unternehmen, die in diesem Jahr einen CSRD-Bericht veröffentlicht haben. Sie können davon lernen und bekommen ein Gefühl dafür, wie Ihr Bericht aussehen könnte. Allerdings ist jedes Unternehmen so individuell, dass Sie sich nicht genau an einem dieser Berichte entlanghangeln können. Jeder Bericht hat unterschiedliche Dinge gut gemacht.

Aber ein Spoiler vorweg: Der CSRD-Bericht wird vermutlich näher am Finanzbericht sein als die meisten bisherigen Reportings nach GRI oder DNK. Aktuell wird viel diskutiert, welche Richtung der Nachhaltigkeitsbericht einschlagen wird. Hier finden Sie eine Studie der EFRAG über einige erste Berichte.

Kurs: Fit for Sustainability – Nachhaltigkeit für Fach- und Führungskräfte

Verschaffen Sie sich ein umfassendes Verständnis von Sustainability-Compliance, ESG-Management und der Umsetzung der Nachhaltigen Transformation. Speziell zugeschnitten auf die Bedürfnisse und Perspektiven von Fach- und Führungskräften!

CSRD-Tipp 4: Methodik der doppelten Wesentlichkeit verstehen

Die Basis des CSRD-Berichts ist die Analyse der doppelten Wesentlichkeit. Die Wesentlichkeitsanalyse gibt es schon länger, aber das Prinzip der doppelten Wesentlichkeit, um berichtsrelevante Nachhaltigkeitsthemen zu identifizieren, ist erst mit der CSRD verpflichtend geworden. Die ESRS schreiben hierfür einen konkreten Prozess vor, der dokumentiert werden muss. Hier gilt es, kritisch zu hinterfragen: Wie steht es um unser Wissen und unsere Kapazitäten für die Wesentlichkeitsanalyse? Schaffen wir das intern oder brauchen wir externe Hilfe?

Unsere Erfahrung zeigt: Das Hinzuziehen von externen Berater:innen ist auf jeden Fall hilfreich – allein schon, um bei der Bewertung und Auswahl der Themen auf ihre Erfahrung zurückgreifen zu können. Egal, wie Sie sich entscheiden: Den Prozess für die Analyse haben wir Ihnen hier skizziert. Einen guten Überblick über die Methode erhalten sie auch in der Implementation Guideline der EFRAG und in den unterstützenden Dokumenten des DNK.

CSRD-Tipp 5: Ressourcen und Know-how für das Projekt CSRD schaffen

Die CSRD ist eine große Herausforderung und kein einmaliges Projekt. Ein:e Nachhaltigkeitsmanager:in allein reicht oft nicht aus. Schauen Sie sich die To-dos realistisch an: Welche Ressourcen brauchen wir für die Umsetzung? Sind weitere Skills oder Fortbildungen notwendig? Müssen wir jemanden einstellen? Für den Fall, dass es am Know-how scheitert: Bei der VERSO Academy finden Sie bestimmt die richtige Weiterbildung.

CSRD-Tipp 6: Prozess im Detail planen

Es gibt einige Schritte bei der CSRD-Berichterstattung, die entweder viel Zeit, viele Abstimmungen mit internen Stakeholdern oder beides benötigen. Wichtig ist daher, dass der Prozess realistisch und vorausschauend ist. Auch Puffer sollten Sie einkalkulieren und gerne etwas großzügiger planen. Folgende Meilensteine sollten Sie beachten:

  • Wann wollen wir den Bericht veröffentlichen?
  • Gibt es zeitliche Einschränkungen, die wir beachten müssen (Urlaube, andere Projekte?)
  • Wann schreiben wir den Bericht?
  • Wer muss wann in den Prozess eingebunden werden?
  • Wann sammeln wir die Daten?
  • Wann machen wir die Analyse der doppelten Wesentlichkeit?
  • Wann müssen wir starten?

Die Herausforderung des ersten Nachhaltigkeitsberichts

Der erste ESG-Bericht eines Unternehmens ist stets besonders aufwendig. Wir haben für Ihre ersten Nachhaltigkeitsbericht einen praxisorientierten Leitfaden erstellt. Sie werden Schritt für Schritt durch den Prozess zu einem aussagekräftigen Nachhaltigkeitsbericht geführt.

CSRD-Tipp 7: Ansprechpartner festlegen

Die Berichterstattung ist Teamarbeit: Bei der Umsetzung der CSRD sind neben den Nachhaltigkeitsmanager:innen die unterschiedlichsten Bereiche eines Unternehmens gefragt. Legen Sie frühzeitig Ihre Ansprechpartner aus den Teams fest, holen Sie sie mit an Bord und klären Sie die Verantwortlichkeiten. Welche Teams warum und wie mit der CSRD beschäftigt sind, haben wir in einer Grafik zusammengefasst.

CSRD betrifft das ganze Unternehmen – Geschäftsführung, Stakeholder, Risikomanagement, Marketing, HR, Einkauf.

CSRD-Tipp 8: Prozess für die Datensammlung erarbeiten

Sie werden viele, viele Daten für Ihren CSRD-konformen Nachhaltigkeitsbericht brauchen. Da stellt sich schnell die Frage: Wie sammeln wir die Daten? Etablieren Sie dafür einen möglichst nahtlosen Prozess. Und dann: Wo sammeln wir die Daten? Ja, das kann eine Excel-Liste sein, die wird aber erfahrungsgemäß schnell unübersichtlich. Unsere Empfehlung: Nutzen Sie dafür eine Nachhaltigkeitssoftware.

CSRD-Tipp 9: Nachhaltigkeit strategisch betrachten

Die CSRD fragt aktiv nach einer Nachhaltigkeitsstrategie – Sie benötigen ein Konzept für jeden einzelnen wesentlichen Nachhaltigkeitsaspekt. Darüber hinaus müssen Sie zeigen, wie Nachhaltigkeit in der Unternehmensstrategie verankert wird. Hier sind Tipps zur Erarbeitung einer Nachhaltigkeitsstrategie.

CSRD-Tipp 10: Lieferkette nicht vergessen

Sie können hier zwar die Übergangsfrist ziehen, früher oder später benötigen Sie aber die Daten aus der Lieferkette. Und die Erfahrung zeigt: Lieferkettentransparenz erreichen Sie nicht von heute auf morgen – das ist ein längerer Prozess. Daher: Jetzt schon Fragebögen ausschicken, Assessments durchführen und einen Überblick über die Lieferkette erhalten – am besten direkt über ein zentrales Tool wie den VERSO Supply Chain Hub.

Unsere Bonus-Tipps:

Zuletzt haben wir noch zwei Bonus-Tipps für Sie: Wie sollte der Prozess beim Erstellen des Nachhaltigkeitsberichts optimal ablaufen? Der Guide mit 7 Schritten zum Nachhaltigkeitsbericht hilft Ihnen.

Und wenn Sie tiefer in die CSRD-Berichterstattung eintauchen wollen, haben wir einen umfassenden Leitfaden für Sie: CSRD-Praxisleitfaden.

* Bei diesen Informationen handelt es sich um redaktionell zusammengefassten Content, der nicht als Rechtsberatung zu verstehen ist. VERSO übernimmt keine Haftung. 

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Die Geschichte des Nachhaltigkeitsberichts beginnt in den 1980er Jahren – damals gab es die ersten freiwilligen Umweltberichte. Seitdem hat sich enorm viel getan – bis hin zu einer Berichtspflicht.
20.08.2024

The history of the sustainability report: how it has evolved

The history of the sustainability report begins in the 1980s, when the first voluntary environmental reports were published. A lot has happened since then – right up to mandatory reporting. Read about the milestones and drivers that have shaped the ESG report and how the reports have developed in terms of depth and quality.

History of the sustainability report from 1980-2000: The era of environmental reports

The history of the sustainability report goes back to the 1980s.
But for the introduction to this blog article, let’s go back a little further.
This will help us to understand why the topic of sustainability and ESG suddenly became so popular.
Let’s transport ourselves back to the early 1970s, so to speak.
The world was characterized by rapid change and far-reaching social, economic and political developments.
The Cold War dominated international politics.
The oil crisis made people aware of their dependence on fossil fuels and their finite nature.
Economic growth and industrialization continued.
At the same time, however, environmental conditions deteriorated, for example due to polluted air and water.
It was precisely at this time that a book was published that attracted worldwide attention.
The title: “The Limits to Growth”.
It was published by the Club of Rome, an association of scientists, economists, business people and former politicians.
This was a turning point.
The Club of Rome played a central role in ensuring that the issues of environmental awareness and sustainability were recognized globally for the first time.
But here we need to put the brakes on: not everything changed immediately.
Awareness was only gradually followed by action.
But there have already been the first Forerunner of the sustainability report.
In the 1980s, chemical companies published so-called environmental reports on their environmental activities.
These were voluntary and mainly served to improve their image, as the industry was subject to strong criticism.
In the 1990s, small and medium-sized enterprises (SMEs) followed suit and became involved in environmental issues.

However, the reports of the time were still a decade away from the holistic approach of today’s sustainability reports.
Only then did the consideration of all ESG aspects – i.e. environmental, social and corporate governance – become established.
Before we continue our journey through time, let’s take a look at a few highlights from the years of environmental reports:

  • 1979: The first world climate conference under the auspices of the UN takes place in Geneva.
  • End of 1980: Many chemical companies publish environmental reports.
  • Early 1990: Some small and medium-sized companies follow suit and also publish environmental reports for marketing purposes.
  • 1995: With the introduction of EMAS, more and more environmental declarations are drawn up (equivalent to environmental reports).

The challenge of the first sustainability report

A company’s first ESG report is always particularly time-consuming.
We have created a practical guide for your first sustainability report.
You will be guided step by step through the process of creating a meaningful sustainability report.

History of the sustainability report from 2000-2010: Major corporations report

Our journey through the history of sustainability reporting continues with the turn of the millennium.
Compared to today, the attention paid to sustainability and ESG was manageable.
But there were important developments that brought it into the national and international spotlight.
The Kyoto Protocol was signed in 1997 and came into force in 2005.
It was the first international agreement to set binding targets for reducing greenhouse gas emissions.
In 2002, Germany, like other countries, adopted a “National Sustainability Strategy”. In addition to public interest, new technologies also gave the topic of sustainability a boost.
At the turn of the millennium, wind power became the most important of all renewable energies.
Ten years later, it was replaced at the top by solar energy.
The overall advance of all renewable energies was unstoppable.
While the topic of sustainability itself gained in importance, this did not yet have a major impact on ESG reporting.
Until 2010, it was mainly large companies that published a voluntary sustainability report – they recognized the increasing attention for the topic.
However, two events provided a significant impetus here.
The Global Reporting Initiative (GRI) published its first guidelines.
They provided companies with a framework for reporting on environmental, social and economic aspects.
Over the years, the guidelines were further developed into the GRI Standards (from 2016).
The topic of sustainable finance also emerged.
Special indices were created with companies that act more sustainably.
Before the history of sustainability reports really picks up speed, let’s take a look at the most important milestones from this period:

  • 1999: The GRI guidelines are published, at the same time the topic of sustainable finance gains in importance.
    The era of environmental reports is over and social and economic aspects are increasingly included in sustainability reports.
  • 2000: The non-profit organization Carbon Disclosure Project (CDP) is founded.
    Its aim is for companies to publish environmental data such as greenhouse gas emissions and water consumption, and it now manages the largest database of its kind in the world.
  • 2003: The first statutory reporting obligation in Europe comes into force with the EU Modernization Directive.

History of the sustainability report from 2014-2019: boom in frameworks

A veritable boom in ESG reporting regulations began in 2010.
This was accompanied by the development of numerous reporting standards and frameworks that offered companies a standardized method for disclosing sustainability aspects.
As a result, reports became more standardized and clearer and transparency increased.
A holistic view of sustainability was anchored in the standards.
Typically, the environmental aspects were CO2 emissions, energy consumption and waste.
Social aspects included working conditions, human rights and communities.
Governance covered topics such as corporate management and ethical business practices.
Companies began to define and measure their sustainability goals and progress more clearly.
Many companies realized that sustainable practices are not only good for their image.
They can also bring economic benefits, such as cost savings, risk reduction and an improved competitive position.
You can read about the business value that sustainability can bring in the blog post“Why is sustainability important for companies?”. As this decade draws to a close, we would also like to look at a few highlights.
This time it’s about important frameworks and regulations:

  • 2014: The EU Non-Financial Reporting Directive NFRD (predecessor of the CSRD) and its German implementation law CSR-RUG (followed in 2017) come into force.
    This means that large listed companies with certain criteria, such as over 500 employees, are required to report.
  • 2016: The UN’s Sustainable Development Goals, the 17 SDGs, come into force and have been a popular framework for reports ever since.
  • 2017: The TCFD framework is published.
    It provides good recommendations for reporting on the effects of climate change, particularly for the financial sector and capital market-oriented companies.
  • 2018: Another framework: the SASB standards.
    Today, they are part of the ISSB, which creates standards for global comparability.

By the way: If you need an overview of standards and frameworks, take a look at our factsheet.

CSRD beyond bureaucracy: potential and opportunities

Even if the CSRD is primarily a bureaucratic obligation and entails many requirements, it also conceals valuable opportunities for business.
Read our blog article to find out what these are.

History of the 2019-2024 Sustainability Report: The EU and the Green Deal

The story of the sustainability report is now slowly coming to an end.
But only in this blog post.
A lot will certainly happen in this area in the coming years.
However, we don’t want to speculate, but rather take a closer look at what has happened since 2019.
The initial situation: there was a reporting obligation.
However, this only affected around 500 companies in Germany.
Companies had some freedom in the information they provided.
The main criticism was the poor comparability.
The new approach: With its Green Deal, the EU not only wanted to optimize and standardize ESG reporting, but also drive forward the entire sustainable transformation of the economy.
The central goal: Europe will be the first climate-neutral continent by 2050.
In order to implement this ambitious plan, the EU has put together a comprehensive package of directives and measures.
These included, for example, the Corporate Sustainability Reporting Directive (CSRD) and the European Supply Chain Directive (CSDD).
As part of the CSRD reporting obligation, a standardized European framework, the ESRS, was even developed for the first time, which provides companies with clear guidelines regarding content and form.
Here is an overview of important regulations from recent years:

  • 2019: The EU Green Deal is adopted.
  • 2020: The EU taxonomy applies and defines which economic activities can be classified as sustainable.
  • 2022: The CSRD is adopted and gradually increases the number of companies subject to reporting requirements from 2024 to around 50,000 in Europe and around 15,000 in Germany.
  • 2023: The German Supply Chain Act LkSG comes into force and requires companies to submit a report on sustainability in their supply chain.
  • 2024: The European supply chain law CSDDD is passed.
    The reports are to be submitted together with the CSRD report, thus further expanding the content of the sustainability reports.
1980-2000: Die Ära der Umweltberichte
Bis 2010 haben dann hauptsächlich große Unternehmen berichtet, die bereits einen zunehmend Druck, sich des Themas Nachhaltigkeit langsam anzunehmen, verspürt haben. Daran war besonders stark die Global Reporting Initiative und das Aufkommen des Themas Sustainable Finance beteiligt. Die wichtigsten Meilensteine aus der Zeit:

1999: Die GRI-Leitlinien werden veröffentlicht, zeitgleich gewinnt das Thema Sustainable Finance an Bedeutung. Die Ära der Umweltberichte ist damit vorbei und es fließen zunehmend soziale und ökonomische Aspekte in die Nachhaltigkeitsberichte ein.
2000: Die Non-Profit-Organisation Carbon Disclosure Project (CDP) wird gegründet. Sie hat das Ziel, dass u.a. Unternehmen Umweltdaten wie THG-Emissionen sowie Wasserverbrauch veröffentlichen, und verwaltet inzwischen die größte Datenbank dieser Art weltweit.
2003: Mit der EU-Modernisierungs-Richtlinie tritt die erste gesetzliche Berichtspflicht in Europa
in Kraft.
Seit 2010 gibt es einen regelrechten Boom an Regularien, die Unternehmen dazu veranlassen, über Nachhaltigkeit in all ihren Aspekten zu berichten. Mit den Regularien wurden auch zahlreiche Standards und Frameworks entwickelt, die Unternehmen bei dem Projekt Nachhaltigkeitsbericht helfen. Wir haben einige wichtige Frameworks und Regularien herausgegriffen:

2014: Die EU-Richtlinie zur nicht- finanziellen Berichterstattung NFRD (Vorgänger der CSRD) und ihr deutsches Umsetzungsgesetz CSR-RUG gelten. Damit werden große börsennotierte Unternehmen mit bestimmten Kriterien, wie etwa data-lazy-src=

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    Nuvia Maslo im neuen Kurs der VERSO Academy, Fit for Sustainability
    09.07.2024

    What specialists and managers should know about sustainability

    ESG regulations, sanctions and real environmental threats are putting companies under increasing pressure. This means that sustainability must now be implemented in companies.

    And in such a way that it does not become a bureaucratic monster. Because sustainability is not a spoilsport, but can create real business value. Read here to find out how this works and what you need to know as a specialist or manager.

    Sustainability starts with specialists and managers

    Sustainability ambitions must come from the management level.
    Then it can create real business value with competitive advantages, cost savings and resilience.
    At management level, the importance of the topic must be understood, priorities set and strategic decisions made for sustainability.
    For specialists and managers, this means getting to grips with the topic of sustainability, acquiring knowledge and at least understanding the basics.
    We give you 4 tips to help you successfully drive forward the sustainable transformation in your company.

    Training tip: The new ESG course “Fit for Sustainability”

    Learn everything that specialists and managers need to know about sustainability in our “Fit for Sustainability” online course.
    The early bird phase is currently still running – register here for a 25% voucher!

    4 tips for starting the sustainable transformation

    1. find out about the role of companies in sustainability

    Climate change is real.
    The first effects are already being felt.
    Extreme weather events are more extreme and occur more frequently.
    There is a lot to be done to ensure that this planet remains liveable for future generations.
    But what role do companies play in this?
    Where are the most serious problems and how can we solve them?
    You should be clear about this before you put sustainability on the agenda.
    Because only then will you be able to win over your employees to the issue and only then will you have the know-how to implement measures with real impact.

    2. familiarize yourself with the most important ESG regulations

    With the Green Deal, the EU is bringing many laws and directives to the table that oblige companies to be more sustainable.
    These include the CSRD reporting obligation, the CSDDD supply chain law and special regulations such as the EU Taxonomy, the SFDR regulation for the financial sector, the CBAM carbon border adjustment mechanism and the EUDR deforestation regulation.
    In addition, there are also laws in Germany that require companies to deal with sustainability at all ESG levels, such as the German Supply Chain Act LkSG.
    Of course, you don’t need to know all the directives and laws in detail.
    However, an overview of the implementation deadlines, what needs to be done and which roles are required in the company is essential.

    3. communicate sustainability transparently and without greenwashing

    Regardless of whether you have to publish a sustainability report due to the CSRD obligation or would like to report on your sustainability activities voluntarily: Communicating sustainability is a fine line between correct and misleading.
    What is communicated can quickly verge on greenwashing, and the CSRD also requires very comprehensive statements that have to be watertight.
    Successful and legally compliant communication requires a good understanding of sustainability, of the company’s own activities, of sustainability communication and of the regulatory framework.

    4. develop a sustainability strategy and use it to leverage potential for your company

    The topic of sustainability and the associated laws and guidelines are often referred to as a “bureaucracy monster”.
    But that doesn’t have to be the case: take a strategic approach to the topic and integrate sustainability firmly into your corporate strategy.
    This will open up real opportunities for your company.
    Because sustainable management makes your company resilient and fit for the future and opens up new business models and competitive advantages.

    How do you get started? With knowledge building!

    Now it’s time to get started!
    At the VERSO Academy, we have the ideal course for you to gain knowledge on all these topics: You will efficiently learn everything important that specialists and managers should know about sustainability in the shortest possible time – tailored to your needs and potential.
    After the training course, you can get started with the sustainable transformation straight away. Sounds good?
    Get the
    25 % Early bird discount – redeemable as soon as the course is bookable:

    * This information is summarized editorial content and should not be construed as legal advice. VERSO accepts no liability.

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    ESG-Ziele müssen auch von Führungs- und Kontrollorganen (Unernehmensführung, Vorstand, Aufsichtsrat) mitgetragen und erfüllt werden. Sonst drohen durch CSRD, LkSG, CSDDD und Co. empfindliche Strafen.
    08.05.2024

    ESG regulations oblige executives: What management boards, supervisory boards and management should do now

    If companies want or need to tackle the issue of sustainability and ESG, it only makes sense to do so holistically. Holistic in the sense that the entire company must be behind it. First and foremost the managers and supervisory bodies. We explain the to-dos for the top management level.

    Why is it important for managers to take an in-depth look at ESG and sustainability?
    Firstly, so that the sustainability team has the backing and resources to implement effective measures.
    But ESG regulation also demands decisions and transparency on sustainability issues from management boards, supervisory boards and management.
    We will now delve deeper into the requirements that ESG regulation places on managers. Click here for 5 specific tips for compliance.

    This information is editorial content that should not be construed as legal advice. VERSO accepts no liability.

    Requirements, obligations and effects of ESG laws

    Several ESG laws and guidelines impose obligations on management boards when it comes to sustainability.
    The demands on the board level are similar in all cases.
    In short, this means that regardless of whether or when your company is affected by which ESG law, company management must now address ESG objectives.
    Here you will find an overview of the individual requirements that are relevant for management boards, supervisory boards and management in the currently applicable ESG laws.  

    The Corporate Sustainability Reporting Directive (CSRD) with the ESRS

    Firstly, the
    CSRD, with its European Sustainability Reporting Standards (ESRS), already places clear obligations on the board level with regard to the review of the
    sustainability report:

    • Monitoring the reporting process
    • Ensuring the independence of the auditors
    • Forwarding of the audit result for the report to the Supervisory Board
    • Creation of capacity for new positions in the ESG team and the development of risk management
    • Enabling transparent data collection
    • Release of reports for handover to auditors

    So much for the review of the report at the end.
    But even during the reporting process, the Management Board is called upon to act – particularly in the ESRS 2 standard, which is mandatory for all companies and to which all strategic aspects of the topic standards are linked.
    The governance section of this standard is explicitly aimed at the management board and company management.
    The following are the To Dos that can be derived from this for the management level: Building ESG expertise: it is not just the ESG team that needs to be familiar with sustainability issues: The CSRD stipulates (ESRS GOV-1) that you must explain who among the executives and controlling bodies is responsible for ESG issues and oversight of the reporting process.
    The status of the expertise of these persons with regard to sustainability aspects is also queried. Integration of sustainability into the remuneration model: In ESRS GOV-3, the company management must disclose whether there are incentive systems for remuneration in the company, how these are structured and whether sustainability performance is integrated into them.
    So consider how you can adapt your remuneration policy to incentivize the long-term thinking and management of your colleagues. Integrate ESG into due diligence and risk management processes: Include ESG in all due diligence, corporate decision-making and risk management processes: This is because the CSRD requires boards to set out how they inform themselves on ESG issues (including a list of risks, impacts and opportunities that senior management have addressed).
    They must also consider how they take these sustainability aspects into account in strategic decisions and due diligence and risk management processes.
    If managers and supervisory bodies fail to meet their obligations, the consequences are not just reputational damage or subsequent filings: the CSRD can also result in fines.

    The ESRS standards at a glance

    With the CSRD, the EU is also introducing uniform European standards.
    The European Sustainability Reporting Standards (ESRS) are intended to make sustainability reports more meaningful and comparable.
    All information can be found in the whitepaper.

    The Supply Chain Due Diligence Act (LkSG)

    The German Supply Chain Act currently affects companies with 1,000 or more employees.
    Companies must prove that due diligence obligations are being complied with in their supply chain.
    For this purpose, a comprehensive report must be submitted to the Federal Office of Economics and Export Control (BAFA).
    The LkSG has a direct impact on the highest company levels.
    This is because it concerns risk assessment and risk minimization in a company’s supply chain.
    Decisions for or against business partners, suppliers, expansions into other countries – these are important strategic decisions that go beyond the remit of purchasing.
    They may not require the involvement of the board level at the beginning of the process – e.g. during risk analysis.
    However, later on – e.g. when it comes to risk minimization measures – the management, Executive Board and Supervisory Board are always required.
    After all, risk minimization also affects the company as a whole and ensures its future viability.
    Violations of the LkSG are punished as administrative offenses.
    This means that sanctions can be imposed not only on companies, but also on the individuals involved.
    The acting persons in the company are the management – they can therefore be held responsible.
    In addition, the supervisory board must also monitor LkSG compliance in its control and advisory function.
    If it fails to do so adequately, the supervisory board is also liable.
    The consequences are fines (depending on the violation and severity) of up to EUR 100,000, up to EUR 500,000 or up to EUR 800,000 per violation.
    In special cases, a stricter regulation, the turnover-based penalty, may also apply.

    Practical guide LkSG Compliance

    Everything you need to know about implementing the German Supply Chain Act: This practical guide covers all the recurring requirements of the LkSG, a large part of which is risk analysis.

    The European Supply Chain Directive (CSDDD)

    The Corporate Sustainability Due Diligence Directive (CSDDD) is the European equivalent of the German Supply Chain Act.
    It is currently envisaged that it will not have a greater impact on German companies than the German LkSG already does.
    Nevertheless, there are also requirements here that impose ESG obligations on the management board level: Accordingly, companies must disclose a strategy that is compatible with the 1.5°C target of the Paris Agreement.
    This ESG strategy should not only contribute to the climate targets on paper.
    It must be demonstrated that the variable remuneration of the Management Board is partly dependent on the efforts to implement a climate plan.
    The regulation explicitly obliges management to act not only in the interests of the company, but also to take sustainability aspects into account.
    In addition, the CSDDD obliges the management to establish and monitor measures for the fulfillment of due diligence obligations.
    The management must then also report on this to the Executive Board.

    Factsheet on the European Supply Chain Act

    The EU Supply Chain Act (Corporate Sustainability Due Diligence Directive – CSDDD) is to become the European framework for the German Supply Chain Act (LkSG).
    In this factsheet, you will find out which companies are affected, what you can expect and what differences there are to the German Supply Chain Act (LkSG).

    Other ESG obligations

    Although the EU has recently passed some laws specifically in the area of sustainability, there are also other laws and voluntary commitments that require ESG commitment from board members and executives.
    Below you will find two specific examples:

    • Shareholder Rights Directive: According to the directive, the remuneration structure of the Management Board of listed companies must be geared towards the sustainable and long-term development of the company.
      The aim is for the Supervisory Board to also take social and ecological aspects into account when setting salaries.
    • German Corporate Governance Code: The GCGC is a voluntary commitment by the business community and provides listed companies with standards for good and responsible corporate governance.
      Here, too, the remuneration structures for Management Board members must be aligned with ESG aspects.

    5 Measures for management boards to prepare for ESG obligations

    You now know that the management board, supervisory board and managing directors must all take responsibility for sustainability in companies.
    There is a lot to do – to get you from reading to doing, here is a list of measures and topics that the management level should implement – regardless of which law the company is or will be affected by and when. 1. get yourself (and your team) ready to go

    • Determine who on the Management Board is responsible for sustainability and set up internal committees to take sustainability aspects and requirements into account in your strategies.
    • Define the responsibilities for implementing the ESG strategy and ESG objectives.
      Form an ESG team.
      Equip it with the necessary knowledge for implementing the sustainability strategy and for reporting.

    2. carry out an ESG update of your corporate strategy

    • Integrate short and long-term ESG goals into the corporate strategy.
      This will prevent conflicts of interest and give the topic the importance it deserves.
      Ensure that sustainability is a fixed and central component of your corporate strategy.
      You will benefit from long-term business success.
    • Evaluate whether the company’s purpose, vision and values are in line with your sustainability strategy.
    • Discuss in the team whether the remuneration structures (especially for managers and supervisory bodies) should be aligned with sustainability aspects.
      On the one hand, this is required by all ESG regulations; at the same time, studies (Via Tomorrow) show that these practices are already widespread and highly effective.

    3. keep an eye on your ESG risks

    • Take a look around you: How are other companies or stakeholders dealing with ESG risks?
      What sustainability measures are they implementing?
      How does your company compare?
    • Carry out a materiality analysis with your ESG team.
      This will allow you to identify the opportunities, impact and risks of your company in terms of sustainability.
      Take the first countermeasures for the most urgent risks.
    • Identify your opportunities and position yourself for the future.
      Update your ESG risk and opportunity assessments regularly, just like other topics.
      Include sustainability aspects in your regular risk management.

    4. support your ESG team

    • Empower the team to set up the processes for reporting and control mechanisms.
    • Gain a rough overview of the frameworks, methods and EU regulations.
      This will enable you to make well-founded decisions for the implementation of the sustainability strategy.

    5. stay on the ball

    • Establish a process within top management to regularly reassess ESG issues and improve your strategy.
      Regularly coordinate ESG and sustainability issues within the board and management: ESG issues are related to financials.
      Establish a regular exchange between the operational ESG team and the management level.
    • Good sustainability management requires a lot of knowledge.
      Not only in the ESG team.
      As mentioned at the beginning, sustainability is an issue for the entire company.
      Therefore, make sure that all employees receive regular training on the ESG topics relevant to them and are integrated into the ESG processes and measures.
      After all, you can only make a difference if everyone is on board.
      And don’t forget the top level: management, the Executive Board and the Supervisory Board also need up-to-date sustainability knowledge – to comply with the law, but also to be able to make good corporate decisions.

    Meet your ESG obligations with VERSO

    Especially in the initial phase, it is not easy to get into action – too many unanswered questions, little efficiency in the processes, hardly any experience with sustainability in the team.
    What are sensible measures?
    What exactly should a sustainability strategy look like?
    How do we approach the materiality analysis efficiently?
    Trust us, we have been doing this for a long time – for more than 10 years to be precise.

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    • Pragmatic all-in-one solution for ESG reporting, climate and supply chain management
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    • Developed with expertise from 12+ years of sustainability management
    • Trusted by 250+ customers

    Get to know the software!

    CO2-Bilanz, Klimaziele, Net-Zero: Hinter all diesen Begriffen steckt die Dekarbonisierungsstrategie bzw. die Klimastrategie von Unternehmen. Die ganzheitliche Erarbeitung einer solchen Strategie hat viele Vorteile. Welche Chancen dahinter stecken, lesen Sie hier.
    08.04.2024

    5 advantages of a decarbonization strategy: Why it is important for companies

    Carbon footprint, climate targets, net zero: behind all these terms lies the decarbonization strategy or the climate strategy of companies. The holistic development of such a strategy has many advantages. You can read about the opportunities behind it here.

    Despite the Paris Climate Agreement, the Green Deal and national laws: The amount of greenhouse gases (GHG) in the atmosphere continues to rise.
    And industry is the second largest contributor to these emissions after the energy sector.
    As a result, the pressure on companies to focus on their environmental performance, invest in climate protection and reduce their GHG emissions continues to grow.
    You may already be facing requirements such as carbon footprinting, meeting climate targets or, more recently, a climate transition plan required by the CSRD.
    All of these topics are part of the holistic climate strategy that we are talking about here.

    Laut Umweltbundesamt wurden im Jahr 2023 in Deutschland die meisten Treibhausgasemissionen (CO2e) in den Sektoren Energiewirtschaft und Industrie ausgestoßen.

    What is a decarbonization strategy?

    A decarbonization strategy can be thought of as a cycle: It comprises six steps that you go through in sequence.
    After the sixth step, you start again at number one.
    With each step, you look at your challenges in more detail and continue to optimize your processes.
    You can manage your goals, adapt measures, reduce emissions further and further – and get closer and closer to your Net Zero goal.
    These are the 6 steps of the decarbonization strategy:

    1. Development and recognition of challenges
    2. Preparation of a greenhouse gas balance sheet to determine the status quo
    3. Definition of measurable climate targets and measures
    4. Reducing GHG emissions as far as possible
    5. Offsetting residual emissions through certified projects from e.g. Climate Grid
    6. Transparent communication of successes and potential for improvement

    Before you go through the process for the first time, we recommend that you introduce a data and process management tool such as VERSO’s Climate Hub into your company.
    Important for the decarbonization plan: The software should not only cover the calculation of the carbon footprint, but also enable proper climate management including KPI tracking, target tracking, creation of measures as well as internal and external collaboration options.

    The 5 advantages of a decarbonization strategy

    In 2023, the opinion research institute Forsa asked German SMEs that will fall under the new CSRD about their status quo with regard to sustainability and climate reporting: 52% are currently working on a climate strategy, 40% have already formulated a concrete strategy and 9% do not yet see a need for one.
    We have here Five advantages that a climate strategy entails for your company:  

    1. be prepared for regulatory pressure

    In Germany and the EU, the laws resulting from the European Green Deal in particular are calling on companies to decarbonize and operate in a more environmentally conscious manner.
    Examples of legal requirements:

    • The CSRD’s ESRS E1 reporting standard alone requires an entire climate transition plan – in addition to the carbon footprint and disclosure of specific climate targets.
    • The CSRD is also linked to the EU taxonomy, which requires companies to disclose how sustainable their business activities are according to strict criteria.
    • The CBAM will be of interest to companies that import goods from non-EU countries, as the CO2 border adjustment mechanism will in future oblige companies that import emission-intensive goods to purchase certificates to offset the emissions emitted.

    At the latest when your company is affected by these regulations, you should have a decarbonization plan up your sleeve – otherwise legal consequences are possible.
    However, there are also advantages to starting the project before the law takes effect.
    You can then pay attention to limit values and risks as early as the target setting stage, collect the data required for legal compliance during data collection and have the relevant disclosure requirements ready in the right form.
    This will save you stress and you will not be surprised by requirements that you cannot fulfill.  

    2. avoid the risk of greenwashing accusations

    Simply calling yourself “green” is a thing of the past.
    With the Green Claims Directive the EU is specifying what is greenwashing and what is not.
    Soon, companies will have to prove the accuracy of their environmental claims in a scientifically verified manner.
    If they fail to do so, they will not only face damage to their image, but also real legal and financial consequences.
    They are certainly not deliberately greenwashing – but it can easily happen unknowingly, as many greenwashing accusations originate from marketing activities that portray the company in too good a light.
    This happens above all when the company’s sustainability data is not transparent.
    However, transparent sustainability communication can succeed with a climate strategy: The number-based strategy, KPI tracking and carbon footprint allow you to communicate comprehensible facts, figures and targets.

    Your overview of the new Green Claims Directive

    With the Green Claims Directive, the EU now provides a clear framework for sustainability claims.
    Get a clear overview of the new Green Claims Directive and its consequences for your company in this factsheet!

    3. identify the risks and potential of climate issues

    A decarbonization strategy can make a significant contribution to the future viability of your company.
    It reveals risks and potential. Risks By collecting detailed data, you can identify risks that often go unnoticed in day-to-day business.
    How much electricity do we actually consume?
    Which bottlenecks in our production lead to increased CO2 consumption?
    You receive figures and comparative values for areas where there was often little clarity before.
    Identifying climate risks makes your overall risk management more meaningful.
    It helps you to plan more reliably and calculate costs correctly. Potentials In addition, your potentials become visible, such as the environmental commitment of your suppliers, energy savings or the use of renewable energies.
    You can measure progress and see which measures may have less impact than expected and where you can actually make a difference.
    Ultimately, you can also save costs and increase your efficiency.  

    4. advantages with stakeholders for loans, investments and tenders

    If you have a decarbonization plan ready, you will make yourself popular with your stakeholders.
    After all, they are increasingly asking about a company’s commitment to climate protection.
    Which stakeholders are you talking about in particular?

    • Business partners in tenders: Other companies – especially OEMs – are also affected by statutory ESG requirements.
      As a result, they naturally do not want to take on any additional risk and also pay attention to ESG criteria in tenders.
      If you already have a solid decarbonization plan in place, this puts you in a better position in the tendering process.
    • Banks for loans: Banks also face ESG requirements.
      In practice, this means that your borrowing costs also depend on your ESG rating: Better rating, cheaper loan.
      And your strategy naturally has an impact on your rating.
    • Investors: The same applies here – investors also include ESG criteria in their investment ratings.
      With a decarbonization strategy, a lot of things can be ticked off the list.
      And not to forget: The strategy gives investors insights into your company’s potential and options for action.
      You can authentically demonstrate how you want to ensure the future viability of your company in harmony with the environment.
    • Customers: 79% of consumers change their purchasing behavior based on sustainability considerations(study by Capgemini).
      This means that you have a competitive advantage if you can make transparent how your company is committed to climate protection and decarbonization.
      Consumers now look closely at sustainability communication and are quickly suspicious of general sustainability claims.
      You score points with your climate strategy because you can also back up your communication with figures and transparently show your improvement potential and strategy.

    5. strengthen supply and business relationships

    Companies with which you have a business or supply relationship may also be affected by the CSRD or the German Supply Chain Act, the LkSG.
    You now need ESG transparency throughout your supply chain – including climate and CO2 data.
    With your climate strategy, you are already prepared for the questionnaires from your business partners.
    If you have nothing to show, business relationships may be on the brink of collapse.

    How VERSO supports you with your decarbonization strategy

    If you want to take a strategic approach to decarbonization, we will be happy to support you: The VERSO Climate Hub, combined with the VERSO ESG Hub, enables you to achieve holistic climate management.
    We are also happy to support you with our consulting team: many questions arise, especially in the first year of balancing or strategy development, and it takes some time to familiarize yourself with the topic.
    We support you in integrating the processes in your company, in correctly preparing the first carbon footprint and in developing sensible targets, measures and strategies to reduce your emissions.
    With this support, we enable you to subsequently implement your climate strategy on your own responsibility.
    Does that sound like what you’re looking for?
    Please feel free to contact us.

    * This information is summarized editorial content and should not be construed as legal advice. VERSO accepts no liability.

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    Sign up and receive regular news about:

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    Der Aufbau der ESRS: SO berichten Sie CSRD-konform.
    25.03.2024

    The structure of an ESRS report: How to report in compliance with CSRD

    The buzzwords CSRD and ESRS are buzzing around companies, deadlines for reporting have been set, consultants are calling for a materiality analysis. And the sustainability team sits in front of over 1,000 ESRS data points and asks itself: How should a sustainability report be created from this? This article will help you.

    The CSRD has come into force – what needs to be done?

    The standards according to which the CSRD report is to be prepared are new for everyone.
    There are still no best practices, no experience reports, no perfect procedure that companies can use as a guide.
    It is helpful to familiarize yourself with the structure of the individual ESRS standards and, in the next step, to focus on the key disclosure requirements and data points for the company.

    What is required by the CSRD?

    Being affected by the CSRD means that the company is obliged to publish a sustainability report as part of the management report.
    This sustainability report should not be a marketing brochure, but a detailed report that covers environmental, social and governance (ESG) issues.
    It is important to note that companies are not free to choose the framework for the report – the ESRS are the standards to which they must adhere.
    What makes things even more precarious is that the report – just like the management report – is scrutinized by external auditors.
    It is therefore all the more important that you understand the framework, the ESRS, know exactly how the report is structured and report on the correct, key data points.

    Practical guide to CSRD

    Our practical guide, including a checklist, will help you prepare for CSRD reporting.
    Find out what challenges there are and how you can overcome them.

    How should I proceed with the double materiality analysis?

    Keyword material data points: The double materiality analysis is the core of the ESRS report.
    It shows which topics must be included in your report.
    In other words: which of the more than 1,000 data points your company must provide information on.
    We have summarized what exactly is behind the concept of double materiality in this blog article.
    And we explain what the process for analyzing double materiality looks like in this 7-step guide.

    The ESRS standards at a glance

    With the CSRD, the EU is also introducing uniform European standards.
    The European Sustainability Reporting Standards (ESRS) are intended to make sustainability reports more meaningful and comparable.
    All information can be found in the whitepaper.

    How do I set up the CSRD report according to ESRS?

    Basically, you divide your sustainability statement into four parts:

    1. General information
    2. Information on the environment
    3. Social information
    4. Information on governance

    The general information(ESRS 1 and 2) is mandatory for all companies.
    The other three parts are based on the ESRS topic standards.
    You do not have to report on all of these standards – this depends on the result of your double materiality analysis.
    The ESRS are divided into the following individual standards:

    Bei den ESRS gibt es sektorunabhängige Standards und sektorspezifische Standards. Die Sektorunabhängigen Standards teilen sich in die Bereiche Allgemeines, Umwelt, Soziales und Unternehmensführung. Die Allgemeinen Standards sind verpflcihtend für alle Unternehmen, die Themenstandards sind je nach doppelter Wesentlichkeit berichtspflichtig oder nicht.

    The general standards ESRS 1 and ESRS 2:

    So let’s start with the structure of your CSRD report.
    First, let’s look at the two general standards ESRS 1 and 2, which form the basis for the rest of the report.
    At first glance, the effort seems small, but:

    • With ESRS 1, there are no disclosure requirements and therefore nothing directly “to do” for companies.
      But this is about what the report should look like, what it must contain and how it is structured.
      The sustainability team needs to understand this part really well, then the rest of the report will be easier.
    • ESRS 2 is the omnipresent standard, so to speak.
      The key topics must be specified there; it forms the cornerstone for the work on the topic standards.
      And: Each topic standard in turn contains disclosure requirements from ESRS 2 – so you always end up here.

    The 4 pillars of the thematic standards:

    Next up are the topic standards(environmental, social, governance).
    While you are digging through the individual standards and disclosure requirements, you should pay attention to the subdivision of the data points: Namely, they are categorized into narrative, quantitative and monetary.
    This gives you a quick overview of what is required – figures or continuous text.
    So that you can approach the individual topic standards in a structured manner, it helps to familiarize yourself with their structure.
    This is because all ESRS standards basically follow a very similar structure.
    The structure can be divided into four pillars:

    Die Themenstandards der ESRS gliedern sich in 4 Säulen. Allgemeine Angaben, Strategie, Management von Auswirkungen, Risiken und Chancen sowie Parameter und Ziele.

    This is the basic structure.
    Depending on the topic section (environmental, social, governance), however, further disclosure requirements are added: For the 5 standards from the environmental area, additional information must be provided on the financial consequences that are expected as a result of environmental impacts, risks and opportunities.
    In E1(Climate change), information is also required on how the achievement of sustainability goals is incorporated into the remuneration of members of the administrative, management and supervisory bodies and what the company’s transition plan for climate protection looks like.
    Standard E4(Biodiversity and Ecosystem) also requires a transition plan.
    In addition, the consideration of biodiversity and ecosystems in the strategy and business model is required.
    And impact parameters in connection with biodiversity and ecosystem changes should also be included in the targets and parameters.
    With regard to social standards, the focus is on stakeholder involvement:

    • The interests and viewpoints of the stakeholder groups must already be stated in the strategy pillar.
    • In the Management of impacts, opportunities and risks section, the procedures for involving stakeholders in the respective topic are then queried again.
    • It also requires information on the procedures in which stakeholders can raise concerns and on the procedures for remedying negative impacts.

    In the area of governance, there is only one topic standard(business conduct).
    The strategy pillar is replaced here by a governance pillar, in which the roles of the administrative, management and supervisory bodies should be described.
    In the area of management of impacts, opportunities and risks, additional information is required on supplier management and the prevention and detection of corruption and bribery.

    Do I have to report on all data points of a material topic?

    The ESRS contain over 1,000 parameters, disclosure requirements and data points that may be relevant for the preparation of a CSRD-compliant sustainability report.
    But don’t worry: just because you have identified a topic as material does not necessarily mean that you also have to report on all the associated data points.
    Of course, some disclosure requirements are material simply because the topic is material: for example, if the topic “E3 Water and marine resources” has been assessed as material, this automatically results in material disclosure requirements such as “Water consumption”.
    However, if other disclosure requirements are not material for a company, these can also be omitted for a topic that is otherwise material and therefore reportable.
    We have broken down for you how to find out which disclosure requirements actually need to be covered in your report.
    Go through this checklist, work out your key data points step by step and you will quickly have a good overview in the framework.

    Die Wesentlichkeitsanalyse ist geschafft, die für den Bericht wesentlichen Themen-standards sind festgelegt. Heißt das nun, dass Sie zu jedem Datenpunkt eines einzelnen Themenstandards berichten müs-sen – immerhin sind das teilweise hunderte? Nicht unbedingt: Welche Angabepflichten und Datenpunkte relevant sind, hängt von der individuellen Entscheidung ab. Wie das funktioniert, sehen Sie hier.

    Activate the complete ESRS checklist here

    What do companies have to report in accordance with the ESRS?
    Once the overarching topics have been determined with the double materiality analysis, you can decide individually whether individual disclosure requirements and data points are relevant.
    This checklist will help you with this.

    Conclusion

    There is a lot to do and to keep track of in the CSRD report.
    Having an understanding of the structure and layout is essential for an efficient reporting process.
    Nevertheless, the lack of benchmarks does not make the task any easier.
    But we can support you.
    We are already supporting many companies on their way to a CSRD report.
    Our consultants have years of experience in sustainability reporting.
    Get in touch with us if you need support.

    * This information is summarized editorial content and should not be construed as legal advice. VERSO accepts no liability.

    Subscribe to our newsletter!

    Sign up and receive regular news about:

    • Pragmatic all-in-one solution for ESG reporting, climate and supply chain management
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    Stakeholder-Anforderungen von ESG-Informationen an KMU
    12.02.2024

    5 reasons why a sustainability report is also worthwhile for SMEs

    Many companies – large and small – are affected by sustainability regulations such as the CSRD, the LkSG or the upcoming European supply chain law CSDDD. But what about those that are not subject to these regulations? Are they exempt from reporting?

    Watch out: Not being directly affected does not mean that you do not have to deal with sustainability! We explain here why SMEs also have to provide sustainability data and what information is required.

    Which stakeholders request ESG data from SMEs

    1. business partners create transparency in the supply chain

    Are you a supplier to another company?
    Many SMEs supply larger companies that fall under the LkSG (Lieferkettensorgfaltspflichtengesetz) and are or will be affected by the EU CSRD (Corporate Sustainability Reporting Directive) and CSDDD (Corporate Sustainability Due Diligence Directive).
    Large companies not only have to make their own ESG information transparent, but also that of their suppliers.
    This means that you are also affected by the requirements of the regulations and will be asked by your customers for comprehensive sustainability information.
    As a result, you have to undergo extensive due diligence checks, such as the EcoVadis sustainability assessment, which identifies potential risks for people and the environment in the supply chain.
    Incidentally, it is not only you as a supplier who must provide evidence, but often also sub-suppliers.
    Your customers are also bound by industry-specific guidelines and laws.
    Sustainability information from the supply chain is also required from this side.
    Examples of this include the Agricultural Organizations and Supply Chain Act (AgrarOLkG), the chemical industry standard or the industry-specific guidelines of the OEC.  

    2. financial sector pays more attention to sustainable investments

    SMEs that are supported by investors or have received project-related investments should definitely be prepared for ESG inquiries.
    The reasons for this:

    • Due to the SFDR (Sustainable Finance Disclosure Regulation), financial market players and financial advisors are obliged to provide ESG information on financial products and services.
    • Investors are themselves capital market participants and must report on sustainability goals and positioning within the financial sector.
    • Rating agencies now also include ESG criteria in their investment ratings.
    • Prior to the final M&A transaction, the sustainability strategy is reviewed – if not already requested in advance, measurable sustainability indicators are required from you by then at the latest.

    All information about the SFDR

    The Sustainable Finance Disclosure Regulation (SFDR) is one of the EU’s levers for promoting a sustainable economy.
    Get an overview of the SFDR, the categorization of financial products and the disclosure requirements with our factsheet.

    3. banks require ESG disclosures in loan and funding procedures

    If you want to apply for a loan or a grant from the bank, you will need a number of documents.
    In the past, it was mainly about creditworthiness, business concept, collateral and the like.
    Today, the issue of sustainability also plays a decisive role.
    This is because banks need sustainability information from you when granting loans in order to meet the requirements of the European Banking Authority (EBA) and the German Federal Financial Supervisory Authority (BaFin).
    In addition, banks are increasingly adhering to self-imposed frameworks and sustainable finance targets.
    In practice, this means that lending costs are directly influenced by your ESG rating: better rating, cheaper loan.

    This data decides on loans

    Read this article to find out how ESG data affects financing and what data companies need to provide now to ensure their loan applications continue to be approved.

    4. insurance companies also include ESG risks in their financial statements

    Insurance companies also rely on and request ESG data from customers.
    Two perspectives need to be understood here: Firstly, (re)insurers also fall under the CSRD reporting obligation.
    They must therefore report on the status quo of their sustainability ambitions themselves.
    This also includes the customer area, for which your insurer naturally needs information from you as a customer.
    The second perspective is about the insurance risk when you want to take out a new insurance policy.
    It is common practice here to first assess the risk potential of an insured person.
    Sustainability risks are now also taken into account.
    Anyone who does not have this issue on their radar may be classified as having a higher insurance risk and lower insurance benefits.  

    5. customers and partners expect proof of ESG efforts

    New partnerships, collaborations and tenders are increasingly demanding certifications that prove a company’s sustainability ambitions.
    When you enter into negotiations, you need to be well prepared:

    • No Open Doors without ESG certifications: In addition to known information security standards, for example, certifications from the ESG sector are increasingly a prerequisite for a serious discussion.
      Go through the assessments at an early stage – they are often lengthy and cannot be “handed in quickly”.
    • Sustainability and ESG criteria in the tendering process: If there is a tender, your company could fall out of the selection process due to a missing or unsound sustainability strategy.
      You can prove this with recognized ESG certificates, among other things.
      With sustainability and ESG criteria in tendering processes, companies want to ensure that ecological and social standards are adhered to in the supply chain right from the start.

    In addition to special ESG certifications, ESG criteria are also asked for in other quality standards that have a high priority in the industry and are actually “only” concerned with corporate processes:

    • Fairtrade
    • Organic certifications
    • Employer rankings
    • ISO standards

    How do SMEs best prepare for sustainability requirements from stakeholders?

    As you can see, sustainability issues come from every corner.
    You not only have to collect and communicate ESG data to fulfill legal requirements – keyword: LkSG, CSDDD and CSRD-compliant.
    Your stakeholders also ask for this data for a variety of reasons.
    The problem with these queries is that if SMEs are affected by one or more of these scenarios and are not prepared for them, this usually means a lot of work.
    This is because very different information is required from different stakeholders.
    They are confronted with different reporting standards and find themselves in a flood of questionnaires.
    However, you can avoid these problems with a voluntary sustainability report.
    It is best to report in accordance with a recognized standard that is suitable for your company, such as the DNK, the GRI Standards or the ESRS – the latter will enable you to meet the regulatory requirements of the CSRD in the future.
    Frameworks such as the SDGs or the UN Global Compact also form a good basis for the sustainability report.
    EFRAG is currently also working on its own voluntary standards(VSME) for SMEs, which are adapted to the size, resources and needs of these companies.
    The advantages of a voluntary report in a nutshell:

    • As a rule, you already collect all the important data that you also need for other purposes.
      In the best case even in a single tool, in which you can also control measures and write the report.
    • In the case of inquiries, the report already contains most of the required information, giving you more time for detailed questions.
    • If you do have to report later, you are already optimally prepared for CSRD, LkSG and CSDDD!
    • Although this may sound like a lot of effort at first, the introduction of ESG structures brings with it great opportunities: innovation and long-term growth are promoted, risks are minimized and, not to forget, you also consolidate and strengthen relationships with your customers.

    Step-by-step to the sustainability report

    A meaningful sustainability report can be quite a challenge.
    Where do you start?
    What data is important?
    And how should the CSR report be published?
    Our practice-oriented playbook answers your questions.

    Do you want to be prepared for the next request?

    The voluntary sustainability report puts you ahead of the game!
    If you have any questions about the sustainability report or the legal requirements, we are here for you – with over 12 years of experience in sustainability management.

    * This information is summarized editorial content and should not be construed as legal advice. VERSO accepts no liability.

    Subscribe to our newsletter!

    Sign up and receive regular news about:

    • Pragmatic all-in-one solution for ESG reporting, climate and supply chain management
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    Doppelte Wesentlichkeitsanalyse
    15.01.2024

    Mastering CSRD challenges: The double materiality analysis in seven steps

    Companies affected by the CSRD (Corporate Sustainability Reporting Directive) must identify relevant topics for their sustainability report with a double materiality analysis. In doing so, they determine how sustainability aspects affect the company and how their activities impact the environment and society. We have already discussed the concept in this blog article. Now we want to put it into practice – with a step-by-step guide to the double materiality analysis.

    In 7 steps through the double materiality analysis

    1. create an understanding of dual materiality

    The dual materiality analysis is carried out slightly differently in every company.
    Depending on the company’s technical expertise, external sustainability and ESG consultants should be consulted.
    A high-quality analysis is important because it forms the basis for the sustainability reports of the coming years.
    Process support from ESG experts is also helpful because auditors will review the double materiality analysis process in the future.
    First, however, it is important for you and your sustainability team to take a closer look at the concept of dual materiality.
    Here are some questions that are helpful in this first phase:

    • Are we familiar with the concept of dual materiality?
      Does everyone in the team understand which aspects (financial and impact materiality; impacts, risks and opportunities) need to be considered?
    • What are the general conditions of our company, which topics are relevant from the outset due to the environment, industry and products?
    • Which upstream and downstream economic activities, from raw material extraction to consumption and disposal, are part of the value chain?
    • Do we all understand what the dual materiality analysis process should look like, what our goal is, how we will proceed?
    • What are important stakeholder groups (e.g. those affected by impacts; groups with an interest in information) with whom we work and to whom we address?
    • Have we brought the management team on board and kept them sufficiently informed?
      Can we count on their commitment?

    CSRD: New requirements for sustainability reports

    As part of the Green Deal, the EU is driving forward numerous measures for sustainable transformation – including the CSRD.
    You can find all the details, including the latest innovations, in our factsheet.

    2. create a roadmap for the dual materiality analysis

    Once everyone is familiar with the topic and has gained an overview, the next step is to plan the project.
    Fundamental decisions should be made in three areas: Responsibilities: Clarify who in your team is responsible for what.
    Also consider for which tasks external ESG consultants should be brought in. Time and resource plan: The dual materiality analysis takes time.
    Create a schedule and think carefully about the human and financial resources you need.
    Plan in such a way that you can talk to all important stakeholders, involve management in the process and also coordinate the results well at the end.
    Think about all of this in the context of the sustainability report: have you already considered the double materiality analysis when preparing the report or do you still need to adjust the project plan? Sources and contact persons: Think about which methods you want to use to carry out the materiality analysis and with which contact persons.
    The ESRS and other frameworks as well as industry standards and findings from the business environment provide you with starting points for possible relevant topics.

    3. identification of impacts, risks and opportunities (IROs)

    A sustainability aspect of the ESRS is material and reportable if the associated impacts, risks oropportunities (IROs) are considered material.
    Example: If the pollution of wastewater by substances used is a material impact, reporting must be made on the data points in the matching standard E2 “Pollution”.
    It makes sense to identify and evaluate the IROs first, so that the material topics of the ESRS result from this at the end.
    The bottom-up approach in detail:

    • Identify all actual and potential impacts that your company or economic activities in the value chain have or could have on stakeholders(impact materiality or inside-out perspective).
    • You should also define the financial opportunities and risks that could arise for your company from sustainability issues(financial materiality or outside-in perspective).
      Here you can also build on the results of the impact assessment.
    • Sharpen the IROs to make them as specific as possible.

    But how do you get to the IROs?

    The IROs can arise from a wide variety of sources, such as industry or company specifics and discussions with various stakeholder groups.
    Sparring with an external ESG consultant is helpful here.
    In addition, internal data from whistleblower systems, occupational health and safety information or discrimination cases can also provide you with information on relevant ESG issues in your company.

    The ESRS standards at a glance

    With the CSRD, the EU is also introducing uniform European standards.
    The European Sustainability Reporting Standards (ESRS) are intended to make sustainability reports more meaningful and comparable.
    All information can be found in the whitepaper.

    4. coordination and sharpening of the IROs with the management

    Coordinate the preliminary results with your company’s management.
    The management level has a different view of the company and also knows other perspectives, such as those of investors, competitors or customers.
    And finally, the dual materiality analysis should ultimately be supported by the entire company and form the basis for strategy development – management must also be on board for this.

    5. definition of the main topics

    In order to classify the IROs as material in accordance with the CSRD, they must be assessed according to the ESRS criteria.
    Among other things, you evaluate the IROs according to

    • Extent,
    • Scope,
    • Immutability and
    • Probability of occurrence.

    Attention: Depending on the type or category of IRO (e.g. negative impact or potential impact), different assessment criteria must be used.
    In the course of the assessment, you also define suitable threshold values for your company.
    These will help you to determine which IROs are actually material for your sustainability report.
    This is because which ESRS standards are mandatory for your report depends on whether you have identified material impacts, risks or opportunities.
    Topics for which you have not identified any material IROs do not fall under the reporting obligation.
    At the end, you now have all topics that have been assessed as material from either a financial or impact perspective.
    You can present the results graphically in a materiality matrix or in a classic table.
    According to the CSRD, a graphical representation of the materiality analysis is not mandatory.

    Wesentlichkeitsmatrix, finanzielle Wesentlichkeit, Wirkungsmaterialität, Double Materiality

    6. definition of measures

    The double materiality analysis does not stand for itself: The material IROs initially serve as the basis for your sustainability report.
    This shows the status quo and, over the years, the development of your company in the area of sustainability.
    In addition, the materiality analysis is the basis for your sustainability strategy, in which you define targets and measures.
    Incidentally, the ESRS already provides you with valuable input for the definition of targets and measures.

    How do I create a sustainability report?

    A meaningful sustainability report can be quite a challenge.
    Where do you start?
    What data is important?
    And how should the CSR report be published?
    Our practice-oriented playbook answers your questions.

    7. stick with it, adapt, repeat

    A final tip from us: don’t see the double materiality analysis as a one-off project, but as a tool that will accompany you in your sustainability work.
    If there are significant changes in the company, you will have to repeat the double materiality analysis in full.
    You usually revise individual parts and adapt the analysis annually.
    This keeps the key IROs up to date and makes your company’s developments measurable.

    Support with the materiality analysis?
    We have the experts for you

    If you feel that professional and advisory support would help you make progress with the dual materiality analysis, we are happy to help.
    We have already guided many clients through this comprehensive process and look forward to accompanying you on your sustainability journey.

    * This information is summarized editorial content and should not be construed as legal advice. VERSO accepts no liability.

    Subscribe to our newsletter!

    Sign up and receive regular news about:

    • Pragmatic all-in-one solution for ESG reporting, climate and supply chain management
    • Individual advice from the VERSO experts
    • Developed with expertise from 12+ years of sustainability management
    • Trusted by 250+ customers

    Get to know the software!

    Holzwürcel, die ein Diagramm mit steigendem Pfeil abbilden: Richtig gemacht, können Nachhaltigkeitesberichte zur Steigerung des Unternehmenserfolgs beitragen
    23.10.2023

    Sustainability report – What is it and what do I need to know?

    Some are intrinsically motivated to anchor the topic of ESG in the company, others have to deal with the topic of sustainability reporting due to the CSRD or want to gain a competitive advantage. For all of them, the sustainability report is a constant companion on their ESG journey. Here you will find an overview of the most important terms and requirements for reporting.

    What is a sustainability report?

    This fundamental question needs to be clarified first and foremost.
    In their sustainability report, companies make statements on

    • environmental aspects,
    • social issues and
    • Corporate governance.

    In the sustainability report, companies state how external influences affect the company and how their activities impact the environment and society.
    The first report usually depicts the status quo.
    But the information should go beyond this: Strategies, goals and measures that are intended to contribute to greater sustainability are also described.
    The length, structure and focus of sustainability reports can vary greatly.
    This depends on the standard you choose.
    The method you use to report is basically up to you.
    Unless you are required to report, for example by the CSRD.
    Then you must follow specific guidelines and often certain standards (e.g. the ESRS).

    The most important sustainability standards

    Get an overview of what is suitable for your company now – quickly and reliably.

    Sustainability, ESG, CSR: what’s the difference?

    All three terms basically mean the same thing in relation to the report.
    They deal with fundamental questions of corporate responsibility towards the environment and society, today and in the future.
    In recent years, the term CSR has been used primarily in Germany.

    • Corporate social responsibility describes the responsibility of companies for their impact on society.
    • However, the term was generally used for all three dimensions of sustainability (environmental, social and corporate governance).
    • It is more about a qualitative measurement of measures with regard to sustainability, corporate values and social commitment.

    In the meantime, the term ESG has become increasingly established.

    • ESG stands for Environmental, Social and Governance.
    • The term originates from the financial sector and focuses increasingly on company valuation, taking into account environmental, social and corporate governance factors.
    • The measurement of sustainability follows a more quantitative approach.

    The comprehensive term sustainability is basically used synonymously for CSR and ESG.
    It is also quite apt for describing the report, as it covers sustainability in all areas of the company.
    Read more about this in our blog post “CSR, ESG, sustainability – what’s the difference?”

    When do I have to prepare the first sustainability report?

    In the coming years, the new CSRD (Corporate Sustainability Reporting Directive) reporting obligation will require more and more companies to prepare a sustainability report.
    Although the first report is usually a lot of work and often contains few statements on developments, we would still advise you to be blunt: Start now!
    The facts in brief:

    • Around 500 companies in Germany are currently obliged to publish a sustainability report.
    • With the CSRD, there will be around 15,000 companies in Germany in future.
      The criteria are the number of employees, sales revenue and balance sheet total.

    In our blog post “EU adopts CSRD: What you need to know now“, you can quickly find out whether and when your company is required to report.

    CSRD: New requirements for sustainability reports

    As part of the Green Deal, the EU is driving forward numerous measures for sustainable transformation – including the CSRD.
    You can find all the details, including the latest innovations, in our factsheet.

    How do I create a sustainability report?

    The first sustainability report is challenging.
    You are probably doing this for the very first time and therefore have little experience – you can receive helpful training at the VERSO Academy, for example.
    You also have
    often no comparative values, no suitable processes and structures yet and have to find the right reporting software – from our customer experience, we could go on and on with the list of challenges for the first report.
    We therefore have 5 tips for your first report.

    Companies that are faced with the task of preparing a sustainability report for the first time often ask themselves: Where should I start and what is the most efficient way to organize the process?
    We have created the practice-oriented guide“In 7 steps to the CSR report“.
    You will be guided step by step through the process of creating a meaningful sustainability report.

    7 Schritte zum Nachhaltigkeitsbericht: 1. Vorbereitung 2. Geeigneten Standard wählen 3. Wesentliche Themen definieren 4. Daten und Informationen sammeln 5. SMARTe Ziele setzen 6. Bericht schreiben, gestalten und veröffentlichen 7. Nach dem Bericht ist vor dem Bericht

    I am new to the role of ESG Manager:r…

    How do I establish sustainability management in my company?

    If you are new to ESG, this will sound familiar: You have a lot of measures in mind, but you need to integrate them into a goal-oriented sustainability strategy.
    You have to think about which goals are realistic and sensible for your company.
    You also need processes and key figures to monitor developments.

    And above all of this are three big questions:

    1. What does all this mean for my company?
    2. How do I tackle this huge issue?
    3. How do I justify my efforts and the necessary resources to management?

    First of all, basic blog posts on the topic of sustainability management will help you here.
    You will learn more about your role and tasks as a sustainability officer and receive tips on how to communicate convincingly with management about why sustainability is important for companies.  

    CSRD, SFDR, EU taxonomy: what is it and what is the background?

    With all the regulations, you have probably already come across the terms CSRD, SFDR, EU taxonomy and ESRS.
    They are all part of the European Green Deal and are interlinked.
    The EU wants to anchor sustainability more firmly in the economy with these regulations and directives.
    To comply with the CSRD, companies are obliged to report in accordance with the “ESRS” standards specified by the EU.
    How do I apply the standard correctly?
    Do GRI or DNK also cover these requirements?
    You can find answers to these questions in our ESRS white paper.
    The SFDR is a sustainability-related disclosure requirement for the financial services sector.
    We explain when you are affected and what you need to do in the SFDR factsheet.
    The EU taxonomy is a classification system that CSRD and SFDR apply.
    It defines when a business activity is green, sustainable or environmentally friendly in order to provide clarity on sustainability claims.
    Find out what this classification of economic activities means for your company and your sustainability work in our white paper on the EU Taxonomy.  

    How can I make my company more sustainable?

    Start taking action now!
    The more you can tell about (implemented) measures in your report, the more meaningful your sustainability report will be.
    Here are a few tips for good sustainability measures for companies.

    Communicate your sustainability journey right from the start and show your need for action.
    This makes your ambitions comprehensible and credible.
    But be careful not to fall into these greenwashing traps in your sustainability communication.
    Not only will this damage your reputation, but the EU is now also imposing specific anti-greenwashing regulations.

    We can help you with your sustainability report!

    Creating a sustainability report is a major challenge, especially the first time around.
    However, with the right tools and extensive knowledge, you can save a lot of time and money.
    We have the right solution for both.
    With our training courses, you can gain new input and become a sustainability professional.
    And with our ESG management software , you can collect all relevant sustainability data quickly and clearly.

    * This information is summarized editorial content and should not be construed as legal advice. VERSO accepts no liability.

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    Sign up and receive regular news about:

    • Pragmatic all-in-one solution for ESG reporting, climate and supply chain management
    • Best practices in the areas of ESG and sustainable supply chains
    • Developed with expertise from 12+ years of sustainability management
    • Sustainability events and much more.

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