Even if your company is not directly affected by a legal requirement or is listed on the stock exchange, there is great value in reporting on sustainability.
- It can give you better financing.
- You are in a stronger position in a tendering process. Public tendering processes must emphasize climate and the environment by at least 30%.
- You gain insight into your own operations so that you can make better and more sustainable decisions.
- You respond to demands from your customers and support them in their sustainability work.
We are based on the recommended reporting requirements for small and medium-sized enterprises (SMEs) from the EU. These reporting requirements are called VSME ESRS (Very Small and Medium Enterprises' European Sustainability Reporting Standard). This is a simplified report in relation to how listed companies should report.
Flexible and modular
You need to start with the mandatory Basic Metrics module, then you can additionally choose one or both of the other modules.
Before you start with a sustainability report for SMEs, we recommend that the company conducts a climate report and a report in accordance withthe Transparency Act, as this provides valuable and necessary information for all the modules.
CSRD - Sustainability reporting for large companies
Sustainability reporting requirements are becoming increasingly stringent and detailed. It's easy to get overwhelmed when faced with standards, deadlines and reporting systems, but you don't have to stand alone.
At Aider, we have extensive experience with CSRD, ESRS and other frameworks and can help you find a customized and effective solution.
What is CSRD?
The Corporate Sustainability Reporting Directive (CSRD), also known as the Sustainability Directive, is an EU directive that expands and tightens the requirements for sustainability reporting. The directive applies to large and listed companies and has been introduced in Norway through the Accounting Act.
CSRD requires companies to report on environmental, social and governance (ESG) issues in accordance with the European reporting standards (ESRS) - and the report must be included as part of the annual report and audited.
What needs to be done?
1. Anchoring in management
The board and management must own the sustainability work, monitor risks and opportunities, and assign responsibility for sustainability topics.
2. Double materiality analysis
The analysis should map:
-
How sustainability topics affect the company's finances(outside-in)
-
How the company affects the climate, environment and society(inside-out)
3. Sustainability reporting in the annual report
The reporting shall follow ESRS and include material topics within three main areas:
-
Environment (E): Climate impact, biodiversity, oceans, resources and circularity.
-
Social (S): Workers, the value chain, local communities and consumers
-
Governance (G): Business ethics, risk management and the role of the board
.png)
-1.jpg)
