Category: ESG

Meeresschildkröte, die durch Plastikmüll schwimmt: Mit der neuen EU-Richtlinie gegen Greenwashing sollen solche Bilder seltener werden
10.06.2026

From the Green Claims Directive to EmpCo: The New Rules Against Greenwashing Starting September 2026

The Green Claims Directive was intended to establish clear, EU-wide rules against greenwashing, but it was withdrawn in June 2025. Instead, EmpCo becomes binding. As a result, new requirements take effect on September 27, 2026, governing which environmental claims companies are still permitted to make.

Green Claims Directive & EmpCo: Tools Against Greenwashing

The Green Claims Directive was intended to establish clear, EU-wide rules against greenwashing, but it was withdrawn in June 2025. Instead, EmpCo becomes binding. As a result, new requirements take effect on September 27, 2026, governing which environmental claims companies are still permitted to make. In this article, we provide an overview of the developments surrounding greenwashing regulation and take a closer look at the requirements introduced by the new EmpCo.

Many Environmental Claims Do Not Hold Up to Scrutiny

In January 2023, DIE ZEIT and The Guardian published an investigation into Verra, the leading provider of carbon credits. According to their findings, a portion of the emission credits that companies used to offset their greenhouse gas emissions did not deliver real reductions. A study by the European Commission painted a similar picture: more than half the environmental claims made by companies in the EU were vague or misleading, and roughly 40% were entirely unsubstantiated. Many green labels are of little help either, since half of them are barely verified, if at all.

The result is something most people know from their own experience: consumers can barely tell which claim actually delivers on its promise. And companies that properly substantiate their statements get lost in the jungle of labels and claims.

Greenwashing: The 5 Biggest Pitfalls

100% sustainable, climate-neutral, or bioplastic – what’s printed on a product isn’t always accurate. Greenwashing often happens unintentionally. In this article on the five most common pitfalls, you’ll learn what the traps are and how to avoid them.

Read the article on greenwashing pitfalls

The Green Claims Directive Was Meant to Address This, but It’s Off the Table

On March 22, 2023, the EU Commission presented a draft of the Green Claims Directive (GCD). It was intended to require companies to substantiate their environmental claims scientifically, have them independently verified, and communicate them transparently.

But it didn’t get that far. In June 2025, the EU Commission withdrew the proposal after it lacked a majority in the trilogue and, among others, Italy and the EPP withdrew their support. The main criticism centered on the anticipated bureaucratic burden and the planned inclusion of micro-enterprises.

Anyone breathing a sigh of relief now, however, is mistaken. The Green Claims Directive is not the only regulation against greenwashing, just the best known. The requirements that will actually affect companies starting in fall 2026 have long been settled.

What Is Now Binding: The EmpCo Directive

The Empowering Consumers Directive (EmpCo, an EU directive) already entered into force on March 26, 2024. Member states had to transpose it into national law by March 27, 2026, and it must be applied as binding law starting September 27, 2026. In Germany, implementation takes place through an amendment to the Act Against Unfair Competition (UWG).

EmpCo regulates much of what the Green Claims Directive set out to do, just through a different mechanism: not through a new verification procedure, but through existing competition law. Certain environmental claims will henceforth be considered inherently unfair. This means there is no longer any need for a case-by-case assessment of whether a claim is misleading, it is simply prohibited.

Which Claims EmpCo Prohibits Starting September 2026

EmpCo identifies four categories that will no longer be permitted without solid evidence:

  1. General environmental claims without recognized proof of performance
    Terms such as “environmentally friendly,” “green,” “eco,” “sustainable,” “climate-friendly,” or “biodegradable” may only be used if backed by recognized, outstanding environmental performance. This also applies to implicit claims: green leaves, globe symbols, or water droplets on packaging likewise fall under this rule if they suggest an environmental benefit that is not substantiated.
  2. Carbon-neutrality claims based on offsetting
    Statements such as “climate-neutral” or “carbon-neutral” that rely on purchased credits are no longer permitted. Climate-related claims must refer to real emission reductions within the company’s own value chain.
  3. Self-created sustainability labels
    In-house “eco” or “green” logos without an independent basis are prohibited. Only labels based on a system recognized by authorities or certified by independent third parties remain permissible.
  4. Whole-product claims for a partial aspect
    Anyone who prints “made with recycled material” on a product when only the packaging is meant leaves themselves open to challenge. The precise version that transparently states the scope remains permitted, for example, “packaging is made from 90% recycled PET.”

One important point here: forward-looking promises such as “climate-neutral by 2030” are not prohibited outright, but they are subject to conditions. They must be based on a measurable, verifiable implementation plan and monitored by an independent body.

Who Does EmpCo Apply To?

The directive affects all companies that market products or services to consumers in the EU, regardless of size, revenue, or industry. Manufacturers based outside the EU are also covered as soon as they target EU end customers. Unlike the Green Claims Directive that was under discussion, EmpCo does not exempt micro-enterprises.

What’s at Stake for Violations of EmpCo

Advertising with unsubstantiated environmental claims will be subject to cease-and-desist actions and can be penalized with fines. In the case of serious violations, fines of up to 4% of annual revenue in the member state concerned are possible. On top of this come reputational risks: a publicly challenged claim often damages credibility more than any fine.

This is not an entirely new risk, by the way. Back in June 2024, the Federal Court of Justice ruled that advertising a product as “climate-neutral” without explaining whether this is based on avoidance or offsetting is misleading. EmpCo merely makes enforcement considerably easier starting September 2026.

What You Should Do Now

The deadline for implementing EmpCo is no longer far off. Anyone planning product packaging, campaigns, or website copy with a longer lead time is already working today on material that will go live in September 2026.

Three steps are worth taking now:

  • Claim inventory: Which environmental claims are you currently using—on packaging, your website, in advertising, and in your sustainability report?
  • Evidence mapping: For each claim, check whether solid evidence exists and where it is located.
  • Approval process: Define who signs off on an environmental claim before it is published, so that marketing, legal, and sustainability work together.

The core principle remains simple: you may only claim what you can prove. And that requires a solid data foundation. Greenwashing rarely stems from intent. It usually arises when sustainability is communicated without a sound data basis.

We support you with your sustainability communication

Solid claims require solid data. With the VERSO ESG Hub, you capture your sustainability data in a structured and traceable way, from the data source through to the reporting basis. This makes it possible to demonstrate what each claim is based on. For the communication itself, our Sustainability Consultants support you. They help you publish meaningful information while staying truthful, whether in your sustainability report or in other internal and external formats.

Please write to us. We can help you.

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

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Holzwürfel, die ein Diagramm mit steigendem Pfeil abbilden: Richtig gemacht, können Nachhaltigkeitesberichte zur Steigerung des Unternehmenserfolgs beitragen Rising bar chart made of wooden blocks symbolizing measurable progress and continuous improvement in a sustainability report.
19.11.2024

Sustainability Report: What Is It and What Do You Need to Know? 

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Greenwashing-Fallen in Unternehmen
09.10.2023

The five biggest greenwashing traps and how to avoid them

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Sustainable Development Goals
09.06.2026

Sustainable Development Goals (SDGs): What the Sustainability Goals Mean for Companies

This overview tells you everything you need to know to put the Sustainable Development Goals (SDGs) into context for your company.

Sustainability: Licence to Operate

Customers, employees, and other stakeholders are asking about the societal, social, and environmental impacts your business activities have. It is becoming increasingly clear that corporate sustainability is turning into a “license to operate.” ESG management therefore needs to be approached (more) strategically, or even for the very first time. This article explains how the Sustainable Development Goals, or SDGs, can help you do exactly that.

Whenever the implementation of sustainability in companies is discussed today, the United Nations Sustainable Development Goals (SDGs) are a firm part of the agenda. This framework helps to shape ESG management strategically within a company. At the outset, however, it is often unclear how the SDGs can actually be operationalized and integrated into a company’s sustainability strategy.

In this overview article, you will learn everything you need to know to put the Sustainable Development Goals (SDGs) into context for companies for the first time. We introduce the origins of the SDGs as well as the role companies play. Above all, though, we give you answers to one key question: How can your company become a proactive part of sustainable development? But let’s start at the beginning.

The History of the SDGs: From the Brundtland Report to the 2030 Agenda

The debate around the sustainable development of society, the economy, and the environment, which reached a broader public with the publication of the so-called Brundtland Report “Our Common Future” in 1987 (World Commission on Environment and Development), remains as relevant today as ever. Over several stages of development, the global objectives of this debate have found their way into the Sustainable Development Goals (SDGs) published by the United Nations.

Sustainable Development Goals Today: Current Status of the SDGs and Their Relationship to the CSRD

Adopted in 2015, the SDGs are now ten years old, and the midpoint assessment is weak. According to the Sustainable Development Report 2025 and the 2025 UN progress report, not a single one of the 17 goals is on track to be achieved globally by 2030. Fewer than one in five targets is on schedule. Progress is being made primarily on foundational issues such as health and access to electricity, while the structurally difficult goals are lagging behind.

For companies, the role of the SDGs has shifted during this period. Today they serve above all as an understandable, communicable framework: 17 goals, memorable icons, recognized worldwide. This makes them useful for putting your own sustainability work into context and telling its story, whether in reports, on your website, or in your strategy. This connection is still frequently seen.

Actual management, however, now runs through other instruments. The CSRD and ESRS, along with supply chain laws ranging from the LkSG to the CSDDD, the EUDR, and CBAM, now set the pace. These requirements are mandatory; the Sustainable Development Goals are not. Referencing the SDGs alone is therefore no longer a hallmark of a frontrunner. It has largely become standard, and without robust data to back it up, it quickly starts to look like greenwashing.

The SDGs After 2030: What Comes Next for the UN Sustainability Goals?

As the name suggests, the 2030 Agenda expires in 2030. This raises the question of what comes next, and the discussion about it has already begun. At the SDG Summit in September 2027, official negotiations on the post-2031 framework will begin, prepared in part by the Pact for the Future adopted in 2024.

A complete break is not to be expected. Most countries are sticking with the Sustainable Development Goals. What is more likely to be added are additional focus areas such as digital cooperation, the handling of artificial intelligence and data, or intergenerational equity. The SDGs are therefore more likely to be sharpened than replaced.

For companies, this changes little about the actual task at hand. Anyone who builds a clean data foundation and clear responsibilities now will also be well positioned for an adapted framework from 2031 onward. The effort pays off through robust ESG data, not through the SDG logo in a report.

SDGs and Companies: What Role the Economy Plays

This also establishes a framework that defines companies as important actors in sustainable development and offers them support in implementing measures at the regional and operational level. The SDGs emphasize the need for active participation by private companies and appeal to their creativity and innovation to create value for the common good. This includes, for example, reducing poverty, eradicating hunger, and protecting biodiversity.

The United Nations 2030 Agenda and its 17 Sustainable Development Goals present companies with the new challenge of aligning their operations and strategies with the requirements of the SDGs.

Sustainable Development Goals

Tackling the Sustainable Development Goals (SDGs) in Your Company

So what exactly do you need in order to meaningfully dedicate yourself to the Sustainable Development Goals and to sustainability in general? Two foundational pillars are decisive to begin with:

  1. Organizational and substantive responsibility assigned to an ESG/sustainability officer.
  2. A single place to consolidate all sustainability-relevant data.

Without these two basic prerequisites, it is virtually impossible for an organization to engage further with the topic.

But even with clear substantive responsibility and consolidated data, tackling the Sustainable Development Goals strategically is a task that should not be underestimated and that must be designed on a highly individual basis, depending on company size, industry, and stakeholders.

Consulting firms in the field of sustainability and sustainability reporting, including us here at VERSO, therefore support companies and ESG managers with practical advice every step of the way.

Implementing the Sustainable Development Goals (SDGs) with the GRI and the UN Global Compact

Various internationally recognized guidelines are available to achieve the implementation of the SDGs and their sub-targets within companies’ supply chains. Two of them:

  1. the Global Reporting Initiative (GRI)
  2. the UN Global Compact

Both guidelines propose indicators and key figures for measuring companies’ sustainability performance for each of the UN Sustainable Development Goals. Companies can therefore work toward implementing the global development goals by taking the route of adopting the GRI indicator system.

How Seriously Do Companies Really Take the SDGs?

Some companies already integrate the SDGs deeply into their sustainability strategy and underpin them with concrete indicators and data. For many others, the connection remains superficial. This commitment is usually related to a company’s commitment to other sustainability-related topics, as well as to its size and level of sustainability maturity.

From this, one can conclude that commitment to the Sustainable Development Goals stems partly from regulatory reasons, where existing laws are simply being followed. On the other hand, there are often institutional reasons behind such commitment. A qualitative review of individual sustainability reports shows that company participation is largely symbolic and not yet substantial. This suggests that many companies regard the SDGs—much like the Global Compact—as a framework with non-binding implications.

Conclusion: Why the Sustainable Development Goals Remain a Useful Tool

Despite all the shift toward the CSRD and the like, the SDGs have not lost their value. They give sustainability work a tangible framework, help with prioritization, and create a common language for explaining commitment both internally and externally. That is precisely what they are still good for.

What they do not provide is binding management. That requires robust data, clear responsibilities, and the appropriate reporting standards. Anyone who combines the two—the Sustainable Development Goals as orientation and solid ESG data as a foundation—turns sustainability into more than a box-ticking exercise. And is prepared for what comes after 2030.

We guide you through sustainability

Building a sustainability strategy involves real work. VERSO supports you holistically every step of the way. Since 2010.

How VERSO helps

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

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CSRD-Nachhaltigkeitsbericht nach den Simplified ESRS
17.04.2026

Simplified ESRS: What Is Changing and What Companies Should Do Now

The new Simplified ESRS are set to replace ESRS Set 1. This will make them the new standards for mandatory CSRD reporting. In this blog article, you will find everything important about the simplified standards for sustainability reports.

The Simplified ESRS

The ESRS (European Sustainability Reporting Standards) are set to become simpler, but not less important. With the planned Simplified ESRS, also referred to as Amended ESRS or ESRS Set 2, the focus is shifting: away from maximum detail and toward sustainability reporting that presents material topics more clearly, more consistently, and in a more practical way. For companies, this raises not only the question of what will be removed in the future. More importantly, it is about what will actually matter in reporting going forward.

The planned changes are linked to the EU’s Omnibus initiative. The aim is to streamline sustainability reporting requirements under the CSRD (Corporate Sustainability Reporting Directive) without abandoning the core logic of the ESRS. For companies, this means fewer mandatory disclosures, but still a clear focus on material information, transparent disclosures, and a robust presentation of their sustainability topics.

At a glance: What the Simplified ESRS mean for you now

Already deep into ESRS? → Map existing data points to the Simplified ESRS instead of starting from scratch.

Just getting started? → Clarify early whether VSME, Simplified ESRS, or another reporting framework is a better fit, then set up data collection directly along that logic.

No longer in scope? → Assess which form of voluntary reporting makes strategic sense.

Still have time until 2028? → Use the additional time to align materiality, data architecture, and responsibilities cleanly with the Simplified ESRS.

Where do the Simplified ESRS currently stand and what can be expected next?

The Simplified ESRS have not yet been formally adopted. So far, EFRAG’s technical recommendation to the European Commission is available. The final version of future ESRS Set 2 still needs to be adopted by the Commission as a delegated act.

Since the EU plans to adopt EFRAG’s draft as it stands, the direction is already clear: fewer data points, fewer redundancies, greater focus on material information, and more principles-based reporting.

For companies, the draft status is therefore not a reason to wait. Those who understand the logic behind the Simplified ESRS now can already begin aligning reporting processes more effectively toward relevance, coherence, and practical data use.

What is new in the Simplified ESRS and what stays the same?

The planned Simplified ESRS are intended to make sustainability reporting leaner and easier to understand. At the core, the aim is to place greater focus on decision-useful information while reducing the burden on companies where previous requirements were particularly extensive, redundant, or difficult to apply in practice.

Was ist neu und was bleibt bei den Simplified ESRS, den Berichtsstandards der CSRD.

What is new?

Focus on material information

Going forward, only material data points are expected to be disclosed. The goal is a sustainability report that is clearer and less driven by formally checking off every single requirement wherever possible.

Significantly fewer data points

According to EFRAG, mandatory data points are expected to be reduced by around 61 percent. At the same time, voluntary disclosures will be removed. So this is not just about less volume, but also about stronger focus on what is truly relevant for users and decision-making.

Shorter and more understandable standards

The standards are expected to be streamlined. Redundant content will be cut back, and overlaps between ESRS 2 and the topical standards will be reduced. This is intended to improve readability and make application easier in practice.

More principles-based narrative reporting

Key governance topics such as SBM-3, IRO-1, as well as Policies, Actions and Targets will be brought together more strongly. At the same time, presentation is expected to become more flexible. As a result, the report should function less like a checklist and more like a coherent overall picture.

Less burden around value chain data

Going forward, there will no longer be an explicit preference for primary data. Estimates and secondary data are also expected to be allowed where robust primary data is unavailable or can only be obtained with disproportionate effort.

Simplified materiality assessment and clearer disclosure logic

Disclosure logic is also becoming more focused. Companies should be better able to distinguish between material and non-material information. This also affects the question of which mandatory disclosures are actually required and where narrative context matters more than completeness for its own sake.

What stays the same?

Despite the simplification, the core logic of the ESRS remains in place. ESRS Set 1 is not being reinvented, but rather condensed, focused, and further developed in the form of the Simplified ESRS. The double materiality assessment (DMA) also remains a central starting point for reporting. The following three points will continue to be central in the new Set 2:

Double materiality remains mandatory.

Companies must therefore continue to systematically assess which sustainability topics are material, both from an impact perspective and a financial perspective. What is new is mainly that application is intended to become more practical: EFRAG refers to clearer guidance, less documentation effort, and stronger focus on truly decision-useful information.

The 12 topical standards remain structurally in place.

The Simplified ESRS continue to build on the same architecture: ESRS 1 and ESRS 2, along with the familiar environmental, social, and governance standards, remain in place. For companies, this means existing structures, responsibilities, and mapping logic can generally continue to be used, while the depth and volume of required disclosures will be reduced in many places.

The objective remains a transparent presentation of material sustainability topics.

Even with simplified requirements, companies are not expected to simply check off data points, but to explain clearly which material topics they have identified and how they manage them. EFRAG emphasizes stronger focus on relevance, Fair Presentation, and reporting that is less purely compliance-driven. Companies therefore still need to provide an internally coherent story around their material topics.

Fair Presentation: Why the report should be less checklist and more overall picture

A central point in ESRS Set 2 is that it does not just shorten individual requirements, but also shifts the logic behind reporting. This is especially visible in the principle of Fair Presentation.

What does Fair Presentation mean?

A report should not merely appear formally complete. It should provide a coherent, balanced, and understandable overall picture of a company’s material sustainability topics.

In other words, it is no longer enough to simply work through individual Disclosure Requirements. What matters is whether the report as a whole makes it understandable

  • which topics are material
  • why they are material
  • how the company is addressing them

What changes in practice as a result?

With the Simplified ESRS, three things move more strongly into focus:

  • Relevance instead of maximum detail
  • Coherence instead of isolated individual disclosures
  • Clarity instead of overloaded reports

Fair Presentation therefore describes quite precisely what good reporting will increasingly be measured against in the future: not just the quantity of information, but its explanatory value.

Undue Cost or Effort: More pragmatism in data collection

The Undue Cost or Effort principle is intended to reduce the burden on companies wherever data can only be collected with disproportionate effort.

Where is the practical relief?

This is especially relevant for data that is hard to obtain, for example in the value chain or where information cannot be gathered reliably in the short term.

Going forward, there is expected to be more flexibility for:

  • estimates
  • secondary data
  • a more pragmatic approach to data gaps

This is a noticeable relief, especially for companies that are still building reliable ESG data structures.

What does this not mean?

Undue Cost or Effort is not a free pass to simply leave out information.

Companies therefore cannot rely on this principle in a blanket way by saying that data collection is difficult or expensive. What remains decisive is that assumptions, methods, and approaches are transparent and understandable.

What matters here:

  • Decisions should be justifiable
  • Estimates should be plausible
  • Data gaps should be contextualized, not hidden
  • the report should still provide a robust overall picture despite simplification

This principle therefore stands for a more realistic approach to data collection. The focus is not on perfection at any cost, but on an approach that remains practical while still being transparent.

Fewer data points, but not automatically lower expectations

Reducing data points is a clear form of relief. According to EFRAG, mandatory data points that must be disclosed when material are expected to decrease by around 61 percent. At the same time, voluntary disclosures will be removed.

What has been reduced in concrete terms?

The simplification mainly affects the volume of disclosures that companies previously had to collect, document, and prepare consistently in addition to core requirements. At the same time, the standards as a whole are expected to become shorter, clearer, and more principles-based. This comes with fewer overlaps, more flexibility in narrative disclosures, and a simplified materiality assessment.

But a reduction of around 61 percent does not mean that sustainability reporting will automatically become 61 percent easier. And it does not mean that companies will only need to prepare a heavily shortened report.

Even with fewer mandatory disclosures, the central task remains the same: companies must transparently explain in the ESG report which topics are material, which information is relevant in that context, and how this results in a coherent report.

What does this mean for companies?

The effort therefore shifts in part:

  • away from pure data collection
  • toward prioritization, contextualization, and clear presentation

The real simplification, then, is not that everything becomes easy. It is that the focus becomes clearer.

VSME or Simplified ESRS: Decision support for mid-sized companies

With the Simplified ESRS, the question becomes more relevant which framework makes sense for companies that are currently not subject to reporting requirements or want to report voluntarily. VSME is not automatically the better choice simply because it is leaner. What matters is what the reporting is intended to achieve: a pragmatic starting point or voluntary reporting with stronger alignment to ESRS logic.

Answer the following questions for yourself. The more often you answer “yes” to a statement, the more likely the respective standard is a good fit.

VSME is more suitable if …

  • You want to start voluntary reporting with the lowest possible effort.
  • You need a pragmatic framework without immediately having to work deeply into ESRS systematics.
  • Your reporting is primarily intended to provide an initial overview and is not yet meant to reflect all strategic management questions.
  • You are still at an early stage when it comes to data, processes, and responsibilities.
  • You first want to establish a solid foundation before expanding reporting and management further.

The Simplified ESRS are more suitable if …

  • You want voluntary reporting that is already closer to future ESRS logic.
  • You want to use sustainability not only for documentation, but also more actively for management and strategic purposes.
  • You are already working with a double materiality assessment or plan to do so.
  • Your sustainability information also needs to be robust and compatible with expectations from banks, business partners, or more complex customer requirements.
  • You want to build reporting today that is more robust and future-proof in the long term.

As a rule of thumb

If you mainly want to get started simply and with minimal use of resources, VSME is usually the more suitable entry point.
If you want to report voluntarily in a more structured way, with greater compatibility and closer alignment to the ESRS, there are stronger arguments in favor of the Simplified ESRS.

How companies should move forward now

Which next steps make sense depends above all on where your company currently stands. For most companies, this is not about rebuilding everything from scratch now. It is about adjusting the current course in a targeted way to align with the logic of the Simplified ESRS.

If you are already reporting under ESRS or have prepared extensively for it

Then you should not discard the work you have already done. A sensible approach is to

  • continue using existing preparatory work
  • map previously collected ESRS data points to the Simplified ESRS
  • assess which disclosures will be removed in the future, merged, or only remain relevant if material
  • review content for opportunities to shorten, improve relevance, and strengthen coherence
  • question where completeness has so far taken priority over materiality

The next step here is therefore not a restart, but a mapping from the previous ESRS approach to the logic of the Simplified ESRS.

If you are just starting with reporting

Then now is a good time to clarify whether VSME, Simplified ESRS, or another reporting framework is a better fit, and then set up data collection directly along that logic.

What matters now:

  • build processes around materiality from the outset
  • avoid creating unnecessarily broad data collection
  • keep the reporting structure clear and flexible
  • assess early whether the Simplified ESRS or a VSME-oriented starting point makes more sense

Anyone starting now should therefore no longer follow the principle of “just collect everything first,” but instead orient themselves early around a more focused framework.

If you have fallen out of CSRD scope

Then you should not automatically stop your preparatory work. Instead, now is the right time to reassess your sustainability reporting:

  • Which ESG information will continue to be expected by customers, banks, or business partners?
  • Is a leaner voluntary approach such as VSME sufficient for that?
  • Or is it worth staying voluntarily closer to ESRS logic?

For these companies, the focus is therefore shifting away from pure compliance and toward the question of which form of voluntary reporting makes strategic sense.

If you still have time until 2028

Then waiting is not the best solution. It is more useful to use the additional time deliberately to

  • set up the double materiality assessment properly
  • align data architecture early with the logic of the Simplified ESRS
  • define internal responsibilities and processes clearly
  • systematically build only the data that is actually relevant for the future sustainability report
  • design the reporting structure to be more focused and easier to understand from the start

Anyone who lays the right foundations early can report far more efficiently later and avoid unnecessary effort caused by overly broad ESG data collection or a setup that no longer fits.

Need support?

If you need support preparing your next sustainability report – or your first one – we are here to help with software and advisory services, depending on your needs.

Schedule a meeting

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

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Krötenbaby auf einem Finger – Symbolbild für die Verantwortung, die ESG bedeutet
13.08.2025

ESG Standards and Frameworks: An Overview

Get to know the key standards and frameworks for ESG management and reporting.

Contents

  1. ESRS
  2. VSME
  3. GRI
  4. DNK
  5. SDG
  6. UNGC
  7. ISO 14001
  8. ISO 26000
  9. EMAS
  10. ISSB
  11. TCFD

ESRS

About:

The European reporting standard ESRS was introduced as part of the EU CSRD Directive. Its aim is to improve the quality and comparability of sustainability reports.

Focus areas:

  • Environment
  • Social
  • Governance

Relevant for:

Companies required to prepare a CSRD report.

Advantages:

  • EU-wide comparability
  • Simplified versions for SMEs

Disadvantages:

  • High complexity
  • Very extensive

Other:

Phased implementation depending on company size

VSME

About:

The Voluntary Standard for Small and Midsized Enterprises (VSME) enables meaningful sustainability reporting without the effort required for the “full” ESRS.

Focus areas:

  • Environment
  • Social
  • Governance

Relevant for:

Midsized companies that want to showcase their sustainability performance without being subject to CSRD requirements – officially recommended by the EU Commission in July 2025.

Advantages:

  • Clear framework for reporting and communication
  • Modular structure with flexible effort levels

Disadvantages:

  • No mandatory assurance

Other:

Voluntary standard.

Factsheet: VSME in Detail

All key information on the VSME – from its benefits for midsized companies to its structure, including a comparison with the ESRS.

Download factsheet

GRI

About:

The GRI Standard has existed since 1999 and has been continuously developed since then. It provides companies with a framework to measure and disclose their progress in the ESG areas.

Focus areas:

  • Environment
  • Social
  • Governance

Relevant for:

Primarily large international companies.

Advantages:

  • Strong international recognition
  • Developed in dialogue with stakeholders
  • Serves as a foundation for management systems

Disadvantages:

  • Very extensive
  • High effort required
  • Losing relevance in the EU due to ESRS

Other:

Voluntary reporting standard, but its content is reflected in the ESRS.

DNK

About:

The German Sustainability Code (DNK) is a national reporting standard. With the CSRD, it is being restructured into a support tool for companies to facilitate CSRD implementation.

Focus areas:

  • Environment
  • Social
  • Governance

Relevant for:

According to the DNK, all companies required – or willing – to report under CSRD.

Advantages:

  • Aims to simplify CSRD reporting

Disadvantages:

  • No materiality assessment included

SDG

About:

The Sustainable Development Goals (SDGs) are the UN’s 17 sustainability goals. They serve as a global framework that companies can use to report on their contribution to these objectives.

Focus areas:

  • Environment
  • Social
  • Governance

Relevant for:

Any company.

Advantages:

  • Good for getting started
  • Globally recognized
  • Complementary framework
  • Helpful for communication

Disadvantages:

  • Requirements must be translated individually
  • No specific corporate guidelines

Other:

Voluntary framework – SDG logos may be used for non-commercial purposes.

UNGC

About:

The UN Global Compact (UNGC) is an international network promoting 10 principles in the areas of human rights, labor standards, environment, and anti-corruption. It also offers a reporting framework.

Focus areas:

  • Environment
  • Social
  • Governance

Relevant for:

Any company.

Advantages:

  • Good for getting started
  • Large network and database
  • Strong support from the UN and partner organizations

Disadvantages:

  • Less structured and specific
  • No binding control

Other:

Voluntary framework – members may use UNGC logos for non-commercial purposes.

ISO 14001

About:

ISO 14001 is an international standard for environmental management systems. It helps companies systematically identify and continuously improve their environmental impacts.

Focus areas:

  • Environment

Relevant for:

Any company.

Advantages:

  • Certification available
  • Internationally recognized
  • Enables systematic improvement of environmental performance

Disadvantages:

  • Environmental audit only recommended
  • Environmental statement not required to be published

Other:

Often required in tenders.

ISO 26000

About:

ISO 26000 is an international guideline on social responsibility. It provides recommendations for integrating sustainable and responsible practices into strategies and processes.

Focus areas:

  • Environment
  • Social
  • Governance

Relevant for:

Any company.

Advantages:

  • Well suited for the development of sustainability processes
  • Comprehensive approach
  • Flexible application

Disadvantages:

  • No certification, therefore less recognized

Other:

ISO 26000 serves as a practical guideline and can be useful in tenders.

EMAS

About:

The Eco-Management and Audit Scheme (EMAS) is a standard for environmental management systems. It goes beyond ISO 14001 by requiring, among other things, a public and detailed environmental statement.

Focus areas:

  • Environment

Relevant for:

Any company – especially large enterprises and corporations.

Advantages:

  • Certification available
  • Public register promotes transparency
  • Strengthens the environmental image
  • Simplified variant for SMEs

Disadvantages:

  • More demanding than ISO 14001

Other:

EMAS certification includes regular external environmental audits.

ISSB

About:

The International Sustainability Standards Board (ISSB) develops a global standard for capital market-oriented companies to ensure consistent and comparable sustainability disclosures.

Focus areas:

  • Environment
  • Social
  • Governance

Relevant for:

Primarily capital market-oriented and international companies.

Advantages:

  • Integrates and harmonizes central elements of existing frameworks
  • Aims to become the leading global standard

Disadvantages:

  • High implementation effort

Other:

Voluntary reporting standard, but content is reflected in ESRS.

TCFD

About:

The Task Force on Climate-related Financial Disclosures (TCFD) provides recommendations for companies on how to report the financial impacts of climate change on their business.

Focus areas:

  • Climate

Relevant for:

Primarily the financial sector and capital market-oriented companies.

Advantages:

  • Provides insights into climate-related risks and opportunities
  • Consistent and standardized reporting

Disadvantages:

  • Limited to climate-related impacts
  • Implementation can be challenging

Other:

Voluntary reporting standard, but content is reflected in ESRS.

*This information is summarized editorial content and should not be considered legal advice. VERSO assumes no liability. 

Nachhaltiges Wirtschaften im Mittelstand
23.04.2025

Sustainable Business Practices: The Business Case for SMEs

Stakeholders, ESG obligations, or simply conviction – For many reasons, sustainability is on the agenda of companies. Whether mandatory or voluntary: sustainability must not only be promised, it must be implemented. This article explains why sustainable business practices are important for all companies – from SMEs to large corporations.

Why is Sustainable Business Important for Small and Medium-sized Enterprises (SMEs)?

Sustainability creates transparency in the supply chain

Sustainable business practices are becoming a prerequisite for medium-sized companies to remain supply-capable and competitive in the long term – as large companies today expect full transparency across the entire supply chain.

Many small and medium-sized enterprises (SMEs) supply products or materials to larger companies that are subject to legal requirements such as the Supply Chain Due Diligence Act (LkSG), the Corporate Sustainability Reporting Directive (CSRD), the EU Deforestation Regulation (EUDR), etc. These companies are often also bound by industry-specific guidelines that demand sustainability information from the supply chain.

Large companies must not only disclose their own ESG information but also that of their suppliers. This means that you, as a supplier, are also affected by the regulations and will be asked for extensive sustainability information:

  • You will need to undergo thorough due diligence processes, such as the EcoVadis sustainability assessment, which identifies potential risks to people and the environment in the supply chain.
  • Proof must often be provided not only by suppliers but also by sub-suppliers.

Sustainability as a factor for financing

Sustainable business practices not only improve the ESG rating but also provide access to better financing terms – whether for loans, investments, or insurance.

Medium-sized companies seeking capital from investors or loans from banks should be prepared for ESG inquiries. In practice, the ESG rating directly influences credit terms – the better the rating, the more favorable the loan conditions.

Investors are also increasingly incorporating ESG criteria into ratings and M&A decisions. At the latest, during transactions or investment decisions, robust sustainability metrics will be expected from you.

In addition, (re)insurers also require ESG information from their clients. Sustainability risks are increasingly being incorporated into the risk assessment during contract negotiations, which can directly impact insurance premiums and coverage.

Sustainability expectations from customers and business partners

Anyone who wants to have a say, collaborate, or bid today needs a clear sustainability position – because ESG criteria are increasingly determining partnerships and contract awards.

In partnerships, collaborations, and tenders, certifications and ESG information are increasingly being requested to demonstrate a company’s sustainability ambitions. When entering negotiations, you need to be well-prepared:

  • No Open Doors without ESG Certifications: A prerequisite for serious discussions – alongside, for example, well-known standards for information security – are increasingly ESG-related certifications. Undergo the assessments early – they are often time-consuming and cannot be “quickly submitted.”
  • Sustainability and ESG Criteria in Tender Processes: If there is a tender, your company might be excluded from consideration due to the lack of a robust sustainability strategy. This is demonstrated, among other things, through recognized ESG certifications. With sustainability and ESG criteria in tender processes, companies want to ensure from the outset that ecological and social standards are adhered to in the supply chain.
  • Sustainability also plays a significant role in other quality standards, such as Fairtrade, organic certifications, employer rankings, or ISO standards: ESG criteria are also requested here.

Protection against greenwashing accusations

Simply labeling oneself as “green” is a thing of the past. With the Green Claims Directive and the EmpCo Directive, the EU specifically outlines what constitutes greenwashing and what does not.

  • Soon, companies will be required to scientifically verify the accuracy of their environmental claims. Failure to do so will not only result in reputational damage, but also actual legal and financial consequences.

You certainly do not intentionally engage in greenwashing, but it can easily happen unintentionally in small and medium-sized enterprises: many greenwashing accusations originate from marketing activities that portray the company in too favorable a light. This often happens when a company’s sustainability data is not transparent.

A climate and sustainability strategy ensures transparent sustainability communication: through a data-driven strategy, KPI tracking, and a CO2 balance, you can communicate numbers, facts, and goals in a verifiable manner.

Improved risk management and resilience

A solid sustainability strategy helps you identify ecological and social risks early – not just within your company but throughout the entire value chain. The foundation for this is the Double Materiality Analysis, which adds a holistic ESG perspective to your existing risk management – including the consideration of opportunities.

This allows risks to be assessed in a targeted way, measures for avoidance or reduction to be derived, and their impact in ESG management to be systematically monitored. This makes your company more resilient to climate impacts, geopolitical changes, or resource shortages – while also saving costs and preventing future losses.

Efficient resource use and optimized processes

A well-thought-out sustainability management system helps you use resources more efficiently. It drives process optimizations and innovations – for example, through energy-saving machines or the recycling of production waste. This saves raw materials, reduces costs, and protects the environment.

With effective ESG management, you not only reduce waste and energy consumption but also save time: you focus on the truly important issues – and can drive them forward in a targeted way. A clear advantage for the future viability of your company.

Holistic corporate strategy and future viability

Individual measures are of little use if the strategic connection is missing. A sustainability strategy provides the necessary overall view: All measures are part of a larger plan – rather than isolated individual initiatives.

The foundation for this is the Double Materiality Analysis, which helps you identify the most important topics. This results in a long-term, systematic strategy – ideally integrated into your corporate strategy. In this way, sustainability becomes a top priority and is managed, measured, and communicated in a targeted manner – for example, with a suitable software solution like the VERSO ESG Hub.

How do you embed sustainability in your company?

For sustainable business practices to be more than just a good intention, they must be deeply embedded in the company. This is achieved with the following building blocks, which demonstrate how small and medium-sized enterprises can move into action in a structured and impactful way.

1. status quo and material topics

Before developing a sustainability strategy, a solid status-quo analysis is needed as a foundation – it provides transparency on data, processes, and challenges within the company. Building on this, a materiality analysis highlights which ESG topics are truly material and where the greatest impacts, risks, and opportunities lie.

2. Setting SMART goals and appropriate measures

Goals are the heart of any sustainability strategy and should be scientifically grounded, formulated in a SMART way, and closely linked to the corporate strategy to avoid conflicts of interest. The development of appropriate measures is crucial for implementation – ideally in collaboration with employees and relevant stakeholders who can contribute practical solutions.

3. Creating awareness for sustainability across the company

Sustainability is a company-wide team project – and that’s why it requires a shared awareness and clear alignment. When developing your sustainability strategy, you should define vision, mission, and values to provide direction, motivate employees, and anchor the topic effectively in the overall strategy. Being transparent about ambitions and strategically using internal communication lays the foundation for living sustainability throughout the company.

4. Moving into implementation: Control is key

After the strategy, the real work begins: Implementing ESG measures is a long-term process that requires continuous adjustment and perseverance. To maintain an overview and be able to respond flexibly to new developments, structured ESG management, regular monitoring, and transparent communication – both internally and externally – are essential. Only in this way will progress remain visible, stakeholders stay engaged, and motivation within the company be maintained.

Start with VERSO

Now it’s time to move from planning to action. We support you every step of the way – with the right software solutions and services throughout your entire sustainability journey: from the first report and goal setting to tracking concrete measures. Step by step, you will build the foundation for sustainable business practices in your company.

Get in touch with us.

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Phase-in-Regelung ESRS
02.12.2024

Phase-in regulations of the ESRS: All about the transition periods for the CSRD report

Companies that have to prepare a CSRD sustainability report are given some relief with the phase-in regulations of the ESRS. The transitional periods make it possible to address certain topics at a later date. In this article, you will find out which phase-in regulations and deadlines are available.

The European Sustainability Reporting Standards (ESRS) are the basis for a legally compliant sustainability report. However, the framework entails a large number of disclosure obligations. Companies must provide comprehensive qualitative and quantitative data on their material topics and data points. The path to a CSRD report is not easy! In order to provide some relief for companies subject to reporting requirements, the ESRS offer so-called phase-in regulations. The transitional periods allow you to process certain topics later or in a simplified form, even if you have identified them as material.

Why are there phase-in rules in the ESRS?

Plain and simple: for many companies, the data for some data points is simply not yet available. As data collection will still take some time, phase-in rules have been integrated into the ESRS. The transitional periods are intended to make the start of reporting a little easier. During this “acclimatization period”, companies can omit specific disclosure obligations, particularly in the first few years of mandatory reporting. The transition periods give you the opportunity to gradually build up the processes for data collection and CSRD reporting. Our tip is: start the reporting process as early as possible! And before your company is obliged to do so! This will allow you to establish and optimize important structures and processes before time runs out or it is even too late. Then you will be prepared when it comes to mandatory reporting or when the transition periods end and you have to provide all data on key topics.

CSRD compliance made easy

From the CSRD basics to the finished report: Our practical software package guides you step by step to CSRD compliance!

Learn more now

What phase-in rules are there for the ESRS?

The ESRS offer companies numerous phase-in regulations. They are listed in Appendix C of ESRS 1. The scope varies greatly: sometimes they only relate to a few data points, sometimes to all disclosure requirements of a standard. When using the VERSO ESG Hub, the specific phase-in rules of the individual standards are displayed directly. You can therefore see at a glance whether you can omit a standard or have to report on it directly. In this list you will find the disclosure requirements that have been gradually introduced. The effective date refers to the mandatory reporting in each case.

ESRS Disclosure obligation Transition period for companies
under 750 employees		 Transition period for companies
over 750 employees
ESRS 2 SBM-1: Strategy, business model and value chain The data points SBM-1, 40 b (Breakdown of total revenue by material ESRS sectors) and SBM-1, 40 c (List of additional relevant ESRS sectors) do not have to be reported until the delegated acts of the corresponding sector standards enter into force.
SBM-3: Significant impacts, risks and opportunities and their interaction with strategy and business model The data point SBM-3, 48 e (expected financial impact) can be omitted in the first year. In addition, qualitative data is sufficient in the first three years if it is not feasible to prepare quantitative data.
ESRS Disclosure obligation Transition period for companies
under 750 employees		 Transition period for companies
over 750 employees
ESRS E1 E1-6: Gross greenhouse gas emissions (Scope 1, 2, 3 and total greenhouse gas emissions) Information on Scope 3 and total emissions can be omitted in the first year if the company has fewer than 750 employees on average. —
E1-9: Expected financial impact of significant physical and transition risks and potential climate-related opportunities The information can be omitted in the first year. In addition, qualitative data is sufficient in the first three years if it is not feasible to prepare quantitative data.
ESRS E2 E2-6: Expected financial impact due to pollution-related impacts, risks and opportunities The information can be omitted in the first year. In addition, qualitative information is sufficient in the first three years. An exception to this second simplification is data point E2, 40 b on operating and capital expenditure incurred in the reporting period in connection with major incidents and deposits.
ESRS E3 E3-5: Expected financial implications of impacts, risks and opportunities related to water and marine resources The information can be omitted in the first year. In addition, qualitative information is sufficient in the first three years.
ESRS E4 E4: All disclosure requirements The disclosures can be omitted in the first two years if the company has an average of less than 750 employees. —
E4-6: Expected financial implications of impacts, risks and opportunities related to biodiversity and ecosystems The information can be omitted in the first year. In addition, qualitative information is sufficient in the first three years.
ESRS E5 E5-6: Expected financial implications related to resource use and circular economy impacts, risks and opportunities The information can be omitted in the first year. In addition, qualitative information is sufficient in the first three years.
ESRS Disclosure obligation Transition period for companies
under 750 employees		 Transition period for companies
over 750 employees
ESRS S1 S1: All disclosure requirements The disclosures can be omitted in the first year if the company has an average of less than 750 employees. —
S1-7: Characteristics of the company’s external workforce The information can be omitted in the first year.
S1-8: Collective bargaining coverage and social dialog The disclosure requirement in relation to own workforce in non-EEA countries can be omitted in the first year.
S1-11: Social security The information can be omitted in the first year.
S1-12: Percentage of people with disabilities The data can be omitted in the first year.
S1-13: Continuing education and skills development The information can be omitted in the first year.
S1-14: Health and safety Information on the data points on work-related illnesses and the number of days lost due to injuries, accidents, fatalities and work-related illnesses can be omitted in the first year. In addition, reporting on external workers may be omitted.
S1-15: Work-life balance The information can be omitted in the first year.
ESRS S2 S2: All disclosure requirements The disclosures can be omitted in the first two years if the company has an average of less than 750 employees. —
ESRS S3 S3: All disclosure requirements The disclosures can be omitted in the first two years if the company has an average of less than 750 employees. —
ESRS S4 S4: All disclosure requirements The disclosures can be omitted in the first two years if the company has an average of less than 750 employees. —

Phase-in rules: The key to successful ESRS reporting

The ESRS phase-in rules are a useful relief for companies preparing for CSRD reporting. However, they should not be a free ride, but a strategic opportunity to prepare for the new requirements. Companies should use the transition periods to set up internal processes and create the data basis for future reports. The sooner you start, the better prepared you will be for the full implementation of the CSRD requirements. Although reporting in accordance with the ESRS is challenging, it is also an opportunity to embed sustainable business practices deep within the company. In the long term, this not only pays off in terms of regulatory compliance, but also creates valuable opportunities for your business. In a blog post, we show 6 potentials of CSRD for your company.

Get to know the VERSO ESG Hub right away

The VERSO ESG Hub simplifies and accelerates the entire CSRD reporting process. Would you like to get to know the software solution right away? Then arrange a demo appointment directly.

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

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Der Aufbau der ESRS: SO berichten Sie CSRD-konform.
28.11.2024

Structuring an ESRS report: How to ensure CSRD compliance

Tens of thousands of companies are required to publish a CSRD compliant sustainability report for the first time. Many are now faced with over 1,000 data points and wondering: How do we turn this into a structured sustainability report? What is the structure of an ESRS report?

This article will guide you through the process and provide you with a checklist to help identify the key data points for your report.

Creating an ESRS report – What needs to be done?

For most companies, preparing a CSRD-compliant sustainability report is uncharted territory. So far, only a few have completed this process, meaning you are not alone. To understand the structure of an ESRS report, it is helpful to first familiarize yourself with the individual ESRS standards. The next step is to focus on the disclosure requirements and data points that are most relevant to your company. To support you in this process, we have prepared a practical checklist.

What do CSRD and ESRS require?

Being affected by the CSRD means that a company is required to publish a sustainability report as part of its management report. This sustainability report is not meant to be a marketing brochure but a comprehensive document covering environmental, social, and governance (ESG) topics.

A key aspect: Companies do not have the freedom to choose their reporting framework – the ESRS are the mandatory standards they must follow. Additionally, just like the management report, the sustainability report must be audited by external auditors. This makes it even more crucial to understand the framework, be familiar with the structure of the report, and ensure that you report on the correct, material data points.

How should I approach the double Materiality Assessment?

Speaking of key data points: The double materiality assessment is the core of the ESRS report.

Download the full blog post now and gain access to:

  • Tips for conducting the double materiality assessment,
  • An overview of the ESRS structure,
  • In-depth insights into the content of the ESRS standards, and
  • A checklist for identifying the key material data points.

Before we continue

The content on this website is the result of the work of people who immerse themselves in the world of ESG with much passion and care. We take the time to present complex topics in an understandable way and provide practical tips. To prevent our work from being copied or used as AI training material, we ask you to leave us your e-mail address for particularly extensive and detailed content such as this. You will then receive the article as a PDF directly in your mailbox.

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Doppelte Wesentlichkeitsanalyse
27.11.2024

Mastering CSRD challenges: The double materiality analysis in seven steps

Which topics are relevant for the CSRD report?
The answer is provided by the double materiality analysis. In this article, you will learn how to efficiently master the analysis step by step with the support of our AI-based software solution.

The goal of double materiality

With the introduction of the CSR reporting obligation CSRD, the European Union wants to increase the scope of sustainability disclosures. This will make CSR reports more meaningful and comparable.

The impact of the sustainability report will also be increased because the dual materiality contributes to a shift from a shareholder perspective to a stakeholder perspective. The CSR report is aimed at investors, but also at employees, customers and society.

Definition: What is double materiality?

Double materiality means: it must be stated
how sustainability aspects affect the company (outside-in perspective)
AND
how the company affects society and the environment (inside-out perspective). The dual materiality will change the materiality principle used in Germany in particular and lead to significantly more information being relevant to reporting and CSR reports becoming more meaningful as a result. In future, companies will have to state both perspectives – independently of each other – in the sustainability report.

Previously, both aspects had to be fulfilled at the same time. In the case of the outside-in perspective (“financial materiality”), disclosures must be made that are necessary for an understanding of the company’s business performance, results or position. Particularly in the world of finance, this perspective is often the only one considered today and referred to as “ESG” or “ESG-related risks” – in other words, only the risk perspective is considered from a sustainability perspective.

With the inside-out perspective (“environmental and social materiality”), information must be provided that is necessary for an understanding of the impact of business activities on sustainability aspects. In short, it must be explained: What impact does my company have on the planet and society?

Infografik: Erklärung doppelte Wesentlichkeit der CSRD

What is the outside-in perspective in double materiality?

Many companies have so far focused on the outside-in perspective, as it represents a form of risk management. This field will also be covered in the future. The information is primarily aimed at investors. From the outside-in perspective, companies must disclose the following information:

  • How do external developments affect the business model, strategy and sales, among other things? External developments include unexpected weather events, for example, but also stricter regulatory requirements.
  • Industry-specific topics also play a role: Are there sustainability aspects that have already been identified by competitors, customers or suppliers?
  • What are the main risks for the company, a product or a service? And how are they managed or mitigated?

What is the inside-out perspective?

The inside-out perspective significantly broadens the view. Contact persons are not only investors, but also employees, consumers and environmental and social organizations. From the inside-out perspective, companies must disclose how their activities affect society and the environment. The impact of products, services and business relationships (including the supply chain) should also be mentioned here. Information is required on, among other things

Environmental issues:

  • Climate impact
  • Prevention and reduction of environmental pollution
  • Environmental impact of energy use
  • Biodiversity

Social:

  • Health and safety in the workplace
  • Diversity and equal treatment
  • Human rights
  • Social commitment

Governance:

  • Management and control processes
  • Combating corruption and bribery

In 7 steps through the double materiality analysis

1. Create an understanding of dual materiality

In the dual materiality analysis, you determine how sustainability aspects affect your company and how its activities impact the environment and society. The double materiality analysis forms the start and basis for your sustainability reports in the coming years. A high-quality process and a well-founded result are therefore a must.

In addition, auditors will audit the materiality analysis process and the finished CSRD report in the future. It is therefore worth going through the analysis in a tool that is recognized by auditors. VERSO’s AI-supported software solution for dual materiality guides you through the process step by step; the auditor can check directly in the tool. First, it is important for you and your sustainability team to take a closer look at the concept of double 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 perspectives (financial and impact materiality; impacts, risks and opportunities) need to be considered?
  • What are the general conditions of our company, which topics could be 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?
  • Who are important stakeholders (e.g. those affected by impacts; groups with an interest in information) with whom we work and to whom we turn?
  • Have we brought the management team on board and kept them sufficiently informed? Can we count on their commitment?

AI-supported materiality analysis from the industry pioneer

As a sustainability software pioneer, we also have your back when it comes to CSRD reporting: save time, money and nerves with the market-leading solution for double materiality.

Get to know the module for dual materiality

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 analysis. Fundamental decisions should be made in three areas:

Responsibilities: Clarify who in your team is responsible for what. You can define these responsibilities in the VERSO software. This allows you to assign different levels of authorization and keep track of who is working on which topics at all times.

Time and resource plan: Analyzing dual materiality takes time. Create a schedule and consider what human and financial resources you need. Plan in such a way that you can talk to all affected 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 considered the double materiality analysis when preparing the report or do you need to adjust the project plan?

Sources and stakeholders: Consider which methods and with which stakeholders and colleagues you want to carry out the materiality analysis. The ESRS and other frameworks as well as industry standards and findings from the corporate environment provide you with starting points for possible relevant topics.

Einblick in das KI-gestützte Modul zur Wesentlichkeitsanalyse von VERSO

At VERSO, we have already supported many customers throughout the entire process – from the double materiality analysis to reporting. This includes, for example, the Deutsche Automobil Treuhand GmbH (DAT)which also uses the AI-supported VERSO software.

3. Identifying impacts, risks and opportunities (IROs)

A sustainability aspect of the ESRS is material and reportable if the associated impacts, risks or opportunities (IROs) are considered material. Example: If the pollution of wastewater by substances used is a material impact, this must be reported on the data points in the associated standard E2 “Environmental pollution”.

Identifikation der Auswirkungen, Risiken und Chancen (IROs) in der VERSO Software

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 the VERSO consultants is helpful here. In addition, internal data from whistleblower systems, occupational health and safety information or discrimination cases can provide you with information on relevant ESG issues in your company.

VERSO makes it easier for you to determine the IROs: Based on your information on company activities, NACE codes, locations, industries, etc., our AI module suggests possible material topics. So you don’t start with a blank sheet of paper. You can start directly with individual effects and assign them to the respective topics. Anyone with a little knowledge of the subject will have noticed that our AI-supported materiality analysis module takes a bottom-up approach to IRO identification.

Here, you first identify and evaluate the IROs so that the material topics of the ESRS emerge at the end. You could also do it the other way around – but in our experience, important topics often fall through the cracks.

The bottom-up approach in detail:

  • Identify all actual and potential impacts that your company or your economic activities have or could have on stakeholders along the entire value chain(impact materiality or inside-out perspective).
  • Define which financial opportunities and risks could arise for your company from sustainability issues(financial materiality or outside-in perspective). Here you can build on the results of the impact assessment.
  • Sharpen the IROs to make them as specific as possible. You have clearly listed your collected impacts in the VERSO module. For a CSRD-compliant ESRS report, you must also specify the information and interests of your stakeholders. You must roughly describe which of your material IROs the stakeholders influence or experience impacts on. VERSO’s materiality module saves you time here too: you can enter the affected stakeholders when specifying the material topics and also describe these groups and their impacts in more detail.

Get to know our materiality analysis module

Would you like to try out our AI-supported software solution for analyzing double materiality? Then arrange a demo for the VERSO ESG Hub now and we will answer your questions!

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4. Coordinating and sharpening of the IROs with the management

Now it is time to 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.

And finally, the dual materiality analysis should be supported by the entire company and form the basis for strategy development – management must be on board for this. It is best to present the results to management directly in our software. The data is clearly presented in the module, but can of course also be exported in the desired format and incorporated into presentations.

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 IROs (e.g. actual or potential impact), different assessment criteria must be used. These categories are already stored in the VERSO software. You can select these for your IROs and assess the scope, extent and probability of occurrence with just a few clicks. Suitable threshold values are also already stored in the software solution. They help you to determine the IROs that are actually material for your sustainability report. The software automatically calculates the severity of the respective IRO. At the end, you can see at a glance which IROs are classified as material.

Festlegung und Bewertung der wesentlichen IROs im VERSO Tool

You can easily assign the identified IROs to the ESRS-compliant subtopics in the module. This results in the relevant topics for your report. IROs that do not fit any of the predefined topics can of course still be included and assigned to your own topics in the software.

There is also a completeness check in the VERSO module to check whether you have evaluated and assigned all topics. You will see those ESRS topics and subtopics for which you have not entered any IROs. If such a topic seems important to you, you can refine it in the IROs.

This way, no IRO will slip through. Topics for which you have not identified any material IROs are not included in the reporting obligation. At the end, you have all topics that have been assessed as material from either a financial or an 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. And that’s it for the analysis itself: with our software, you can save your information in the final step and lock it for editing. The auditor can then check your analysis directly in the module.

This last step is immensely important so that you can guarantee that the materiality analysis process has been carried out in accordance with the CSRD and checked by an auditor. With our software, you can also be sure that your double materiality analysis is ESRS-compliant and audit-proof in accordance with the requirements of the Institute of Public Auditors in Germany (Institut der Wirtschaftsprüfer – IDW). Once the materiality analysis has been completed, the material topics, standards and data points are transferred to the VERSO ESG Hub reporting module so that you can continue directly with your reporting.

6. Definition of measures

The double materiality analysis does not stand for itself: The material IROs 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. And you can find out how to approach the CSRD report in the CSRD practical guide.

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 an analysis 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. 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.

Get to know the AI-supported materiality analysis directly

The dual materiality analysis is the basis of your CSRD report. We make this process easier and faster for you: with our AI-supported software solution for the dual materiality analysis, you can be sure that your analysis is CSRD-compliant. Try it out for yourself and book a demo where we will show you all the functions.

Get to know VERSO Software

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

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Holzwürfel, die ein Diagramm mit steigendem Pfeil abbilden: Richtig gemacht, können Nachhaltigkeitesberichte zur Steigerung des Unternehmenserfolgs beitragen Rising bar chart made of wooden blocks symbolizing measurable progress and continuous improvement in a sustainability report.
19.11.2024

Sustainability Report – What Is It and What Do You Need to Know?

Some companies are intrinsically motivated to embed ESG within their organization, while others are driven by the CSRD requirements or aim to gain a competitive edge. For all of them, the sustainability report becomes a constant companion on their ESG journey. Here’s an overview of the key terms and requirements for reporting.

What is a sustainability report?

This is the first fundamental question to address. In their sustainability report, companies disclose information on:

  • Environmental aspects,
  • Social matters
  • Corporate governance

The report outlines how external factors impact the company and how the company’s activities affect the environment and society. The first report usually reflects the status quo. However, the report is meant to go beyond that: it also describes strategies, targets, and actions aimed at enhancing sustainability.

The length, structure, and thematic focus of sustainability reports can vary greatly. This depends on the standard you choose. In general, you are free to decide which reporting framework to follow – unless you are bound to mandatory reporting requirements, such as those under the CSRD. In that case, you must comply with specific guidelines and often follow certain standards, such as the ESRS.

Overview of the ESRS Standards

The European Sustainability Reporting Standards (ESRS) are designed to make sustainability reports more meaningful and comparable. All the details are available in the whitepaper.

Download factsheet

Sustainability, ESG, CSR – What’s the difference?

When it comes to reporting, all three terms essentially refer to the same concept: addressing the fundamental responsibility of companies toward the environment and society – now and in the future.

In recent years, the term CSR (Corporate Social Responsibility) was widely used in Germany.

  • CSR describes a company’s responsibility for its impact on society.
  • In practice, the term was often used to cover all three dimensions of sustainability: environmental, social, and governance aspects.
  • The focus of CSR is more on the qualitative assessment of a company’s actions regarding sustainability, corporate values, and social engagement.

The term ESG has now become increasingly established.

  • ESG stands for Environmental, Social, and Governance.
  • The term originates from the financial sector and focuses primarily on assessing companies based on environmental, social, and governance factors.
  • Measuring sustainability follows a more quantitative approach.

The broader term sustainability is generally used synonymously with CSR and ESG. It also accurately describes the reporting process, as it covers sustainability across all areas of the business.

You can find more on this topic in our blog post “CSR, ESG, Sustainability – What’s the Difference?”.

When do I have to publish my first sustainability report?

With the new Corporate Sustainability Reporting Directive (CSRD), many companies will soon be required to publish a sustainability report. The reporting obligation is based on criteria such as the number of employees, revenue, and total assets.

Although the first report often requires significant effort and may contain only limited insights into progress and developments, our honest advice is: Start now!

Our CSRD factsheet helps you quickly find out if and when your company is subject to reporting requirements—and what your next steps should be.

Practical Guide: Ready for Your First CSRD Report

The first CSRD report is a major challenge, as the EU directive comes with numerous requirements and new standards. Our practical guide, including a checklist, helps you get started and prepare for the CSRD and ESRS.

Download the CSRD factsheet

How do I create a sustainability report?

The first sustainability report can be demanding. You’re likely doing this for the very first time, with little prior experience – targeted training can be a great help. You often have no benchmarks yet, no established processes or structures, and still need to find the right reporting software – based on our experience with customers, the list of challenges for a first report is long.

That’s where we come in: With the VERSO ESG Hub, you can create your sustainability report easily and efficiently. To help you get started, we’ve created a hands-on guide “7 Steps to Your CSR Report” that walks you through the process step by step toward a meaningful sustainability report.

For CSRD beginners, we’ve also developed a 10-step guide for your CSRD report and share our tips for efficient data collection. And when it comes to software, you can rely on VERSO for your CSRD reporting: our CSRD Suite offers you an all-in-one solution.

 

7-step process showing the key stages of creating a sustainability report, from preparation and materiality analysis to data collection, goal setting, publication, and continuous improvement.

I’m new to the role of ESG Manager…

How do I establish sustainability management in my company?

If you’re just starting to work with ESG, this may sound familiar: You have a lot of ideas and initiatives in mind, but you need to align them within a clear, goal-oriented sustainability strategy. You’re also thinking about which targets are realistic and make sense for your business. On top of that, you still need the right processes and metrics to monitor progress.

And above all, three key questions arise:

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

Our introductory blog articles on sustainability management are a great starting point. You’ll gain valuable insights into your role and responsibilities as a sustainability manager and get tips on how to communicate effectively with management – showing why sustainability matters for your business.

CSRD, SFDR, EU Taxonomy – What are they, and what’s the background?

With so many regulations, you’ve probably come across terms like CSRD, SFDR, EU Taxonomy, and ESRS. They are all part of the European Green Deal and closely interconnected. The EU aims to strengthen sustainability across the economy through these directives and regulations.

To comply with the CSRD, companies are required to report according to the ESRS—the European standards set by the EU. But how exactly do you apply these standards? Do frameworks like GRI or DNK also meet these requirements? You’ll find the answers in our ESRS Whitepaper.

The SFDR is a sustainability-related disclosure regulation for the financial sector. If you’re unsure whether it applies to your business and what steps to take, our SFDR Factsheet provides the guidance you need.

The EU Taxonomy is a classification system applied within CSRD and SFDR. It defines when an economic activity is considered green, sustainable, or environmentally friendly—creating clarity around sustainability claims. What this classification means for your business and your sustainability work is explained in our EU Taxonomy Whitepaper.

How can I make my company more sustainable?

Start taking action now! The more you can showcase (implemented) measures in your report, the more meaningful your sustainability report will be. Here are a few tips for effective sustainability initiatives in your company.

Communicate your sustainability journey right from the start—and be transparent about areas where action is still needed. This makes your ambitions credible and easier to understand. But be careful not to fall into common greenwashing traps when communicating your efforts. Not only could this damage your reputation, but the EU is also introducing specific anti-greenwashing regulations, such as the Green Claims Directive.

 

We support you in creating your sustainability report!

Preparing a sustainability report is especially challenging the first time. But with the right tools and solid knowledge, you can save both time and costs. We offer the perfect solution for both: Our training programs (available in german) provide fresh insights and help you become a sustainability expert. And with our ESG management software, you can quickly and efficiently collect all relevant sustainability data in one place.

Contact us

* This information is summarized editorial content and should not be considered legal advice. VERSO assumes no liability. 

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15.11.2024

Trend job sustainability manager: Skills, tasks and further training

Let’s take a closer look at this up-and-coming professional group. What are the tasks of sustainability managers, what training and further education is available and what does their day-to-day work look like?

What distinguishes sustainability managers?

Sustainability managers, also known as CSR managers, sustainability managers or ESG managers, are usually passionately committed to the topic of sustainability and have set themselves higher goals: a fairer world, environmental and climate protection. They exemplify sustainability and motivate their colleagues for ecological and social issues. At the same time, sustainability managers are confronted with the comprehensive ESG regulations. They act as business strategists and cross-functional interfaces within the company to guide it through the sustainable transformation.

Why are sustainability managers important?

In over 14 years of experience in sustainability management, we at VERSO have learned that the sustainable transformation of a company can only be achieved through an effective strategy and clear responsibilities. Why? Sustainability affects all areas of the company. That’s why someone is needed to bring it all together. Sustainability managers take on this interface function. They analyze business processes, implement sustainable business practices and aspects such as environmental protection, employee and human rights. They help medium-sized companies in particular to differentiate themselves massively from the competition. And for some years now, they have also been ensuring ESG compliance in companies.

What does that mean? Sustainability managers are responsible for compliance with the CSRD and are also involved in other regulations such as EUDR, CBAM, CSDDD and LkSG, at least in a supportive capacity. They are also responsible for preparing a sustainability report, including data collection – which many companies now do in accordance with the complex CSRD. They are therefore jointly responsible for the future viability of companies – both from a sustainability and a business perspective.

How is the profession changing?

Sustainability managers often have to deliver a one-man or one-woman show. This is now slowly changing: with the well-known regulations CSRD, EUDR, CSDDD, CBAM and many other ESG-related tasks, it is becoming increasingly important for companies to build a strong sustainability team: A team that is fully committed to minimizing the company’s negative impact as far as possible, implementing sustainability campaigns and positioning the company for long-term sustainability. This is the only way for companies to survive in the long term. And not just survive: Those who take sustainability seriously can also generate real business value from it – more on this in our blog post on the opportunities of CSRD.

The new and complex ESG requirements have also changed the scope of tasks and the skills required of sustainability managers. In the past it was still very much about internal communication, driving ideas for more sustainability and writing reports as a means of communication. Nowadays, ESG managers often find themselves dealing with complicated legal texts, compliance requirements and time consuming data collection. To ensure that there is still time left to implement sustainability measures, it is worth investing in ESG software such as VERSO. In any case, sustainability managers are now required to have a very broad set of hard and soft skills.

What skills do sustainability managers need?

First of all, the so-called “hard skills” – i.e. technical skills or professional competencies that can be learned and are in demand. Below is a selection of some of the skills that are becoming particularly important in view of ESG regulation:

  • Knowledge of sustainability reporting (e.g. CSRD, GRI, ESRS)
  • Understanding of regulations/legislative texts (e.g. LkSG, CSDDD, EUDR)
  • Data analysis and management (e.g. for measuring CO2 emissions, energy consumption)
  • Understanding of value creation and economic activity
  • Project management (planning, implementation and monitoring of sustainability projects)
  • Supply chain management (assessment of environmental impact, supplier selection)
  • Fundamentals of environmental science, sustainability concepts and ecological footprinting

Hard skills can be learned well, and further training courses such as the VERSO Academy can also provide support here. Software is also a big help for skills such as data collection, carbon footprint and supply chain management. In addition to these skills that can be learned, sustainability managers also need special interpersonal skills, the so-called “soft skills”. Among other things, these skills help to effectively implement sustainability in companies:

  • Empathy and social responsibility (understanding social and ethical implications)
  • Communication skills (convincing communication with internal and external stakeholders)
  • Change management (leading companies through sustainable transformation)
  • Problem-solving and decision-making skills (solving complex challenges)
  • Negotiation skills (negotiating with suppliers, partners or superiors)
  • Ability to work in a team and leadership skills (management of teams, cooperation across departments)
  • Critical and strategic thinking (developing long-term sustainability strategies)
  • Flexibility and willingness to learn (react to changing regulations, findings and market requirements)

What are the tasks of sustainability managers?

Sustainability managers do not have a fixed working routine. They usually juggle between data collection, coordination and writing for the ESG report and the creative and strategic development of sustainability measures. The tasks of ESG managers include:

  • Developing a sustainability strategy
  • Collecting sustainability-relevant data (especially for the CSRD report)
  • Defining and implementing targets and measures, monitoring target achievement using key figures
  • Obtain expectations and input from internal and external stakeholders
  • Check supply chains
  • Create a sustainability report
  • Communicate sustainability issues internally and externally (especially with marketing and management level)
  • Prevent Greenwashing
  • Advising all business divisions on sustainability
  • Setting an example of sustainability as well as training employees and motivating them to follow suit

How much do sustainability managers earn?

According to statistics from the German Federal Employment Agency, the salary of sustainability managers lies between €5,000 and €7,100. The average full-time gross monthly salary in Germany is €6,628. However, the salary can vary greatly – it depends in particular on the size of the company, but also on the individual’s professional experience as well as the federal state they work in. Accelerating the sustainable transformation within a company therefore does not necessarily mean having to settle for a lower salary – quite the opposite: the trend is set to intensify, as demand is extremely high while the supply of qualified sustainability experts is scarce.

How do you become a sustainability manager – what training is required?

To become a sustainability manager, you usually need a degree in a field such as sustainability management, environmental sciences or business administration with a focus on CSR. However, lateral entry is also very possible. Many ESG managers also come from the communications industry or another specialist department. With further training in sustainability management, they can often join a company’s sustainability team directly.

What further training is important for sustainability managers?

With the new regulations and developments in the ESG area, it is particularly important for sustainability managers to continue educating themselves. Otherwise, topics such as CSRD, EU taxonomy or LkSG will quickly become too much for you. It is well worth your time to attend webinars and complete in-depth further training in the specific subject areas.

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