Companies are increasingly faced with the challenge of setting and disclosing figures on the assessment and management of risks and opportunities related to ESG. Pressure comes above all from stricter regulation as a consequence of the European green deal and the European Union’s sustainable transformation targets. Even businesses that are not directly affected are more and more frequently confronted with questions from business partners, and equity and debt providers. Reporting is undertaken to comply with specific reporting requirements on businesses. But the need to communicate performance related to sustainability to various groups of stakeholders is also growing.
We’ll help you implement effective sustainability reporting that complies with the regulatory requirements and enables proper communication with stakeholders. Our goal here is always the assurance of your disclosures. For reporting to be reliable, apart from building effective reporting processes, reliability and the quality of the contents of the sustainability report are crucial. As an audit firm, we can give you certainty by auditing your mandatory or voluntary sustainability report.
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The NFRD and the German CSR Directive Implementing Act (CSR-RUG) currently regulate the duties of sustainability reporting for publicly listed companies with more than 500 employees (non-financial statements/non-financial reports). The reform of the directive (CSRD) has not only considerably tightened the requirements on content, but also significantly expanded the scope of the enterprises affected. Additional duties to report come from the EU Taxonomy Regulation. Furthermore, there are numerous non-compulsory reporting standards and frameworks (DNK, GRI, TCFD, SASB, ISSB, etc.) that may have to be followed to meet the requirements of various stakeholders.
Sustainability reporting is increasingly becoming more important and should be every bit as good as the financial reporting. To render a complete picture of the company’s value creation, it’s important to understand and describe the link between these two spheres. The EU Taxonomy Regulation is an example how non-financial and financial information are already connected. We can help you to make these connections visible – both for reporting and for management.