Sustainability Reporting

 
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Updated GRI Standards: What Are the Implications for Materiality?

On October 5th, the Global Reporting Initiative (GRI) announced the biggest update of its standards since 2016. Beyond legal requirements, the GRI has been identified as one of the most comprehensive and internationally recognized sustainability standards setter for corporate reporting. Scheduled to be applicable by 2023, these changes require companies to increase their level of transparency and to dedicate further resources into non-financial reporting. One of the key updates is the introduction of sector standards, providing additional guidelines for comparability of companies from the same industries. Another important change in the GRI Universal Standards is the revised approach on how organization should conduct their materiality assessment. This article focuses on the proposed changes and what it means for companies which have selected the GRI Standards as their ESG reporting framework.
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How to Strengthen ESG Reporting with the Updated GRI Standards

In the corporate world, sustainability reporting requirements are continuously increasing through national and international directives. In the EU, the upcoming Corporate Sustainability Reporting Directive (CSRD) will impact the reporting guidelines of a large number of European companies. Beyond legal requirements, the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB) have been identified as the most comprehensive and internationally recognized sustainability standards setters for corporate reporting. At the end of 2020, GRI counted more than 38,000 GRI reports from organizations, including 73% of the world's 250 largest companies.
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Leveraging Double Materiality to Identify Emerging ESG Risks

If there is one thing that the COVID-19 pandemic has demonstrated, it is that society can face major challenges, virtually overnight. Companies need to have a sharp view on both short-term impacts and risks further on the horizon in order to steer their business and build resilience to deal with change. Capturing emerging risks in the ESG approach is therefore essential. Additionally, as of 2023, the EU Commission requires companies to apply the concept of “Double Materiality” as part of its new Corporate Sustainability Reporting Directive (CSRD). One of the main questions that therefore arises is: how do you ensure your materiality assessment covers these new perspectives on materiality?
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A New Way of Sustainability Reporting: CSRD

With the aim of improving the widespread availability and use of sustainability information across different stakeholder groups, the EU Commission announced its proposal for a Corporate Sustainability Reporting Directive (CSRD). The proposed Directive for the coming years will enhance the rules laid down within the Non-Financial Reporting Disclosure (NFRD), as it will extensively widen the scope of companies applicable to these new reporting legislations; from roughly 11,700 to approximately 49,000. Above the increase in the level of detail being required, companies will also have to verify the information being reported through an external assurer, amongst other decrees. As companies are expected to adopt the first set of new standards by 2024, it is crucial to fully understand the implications and their readiness ahead of the implementation date.
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Impact of Sharpened ESG Reporting Requirements

Non-financial reporting regulations are evolving at a high pace – especially in Europe. Spurred by the need to redirect finance towards achieving the EU Green Deal and the Paris Agreement, companies will have to become more transparent on their environmental and social impacts, and their strategy to mitigate ESG risks. But before you can ‘talk the walk’, you’ll need to figure out how to walk, and where towards. This article gives a brief overview of the implications of the most important European non-financial reporting requirements for companies operating in Europe, and how to get ready for them.
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What You Need to Know about the EU’s Sustainable Finance Regulations

Having over 9 billion people living well within planetary boundaries by 2050 is an ambitious, yet crucial goal. As an enabler for the urgent transformation required to meet this objective, redirecting finance towards sustainable investments plays an essential role. Europe has already taken important measures to shape the future of its financial sector towards a more sustainable future. These have far-reaching implications for all financial market participants operating in Europe and may inspire other parts of the world to accelerate on the topic of sustainable finance. This article gives a brief overview of sustainable finance in Europe and its global implications for companies.
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European Real Estate’s Underleveraged ESG Opportunities

As sustainability-labelled financing is expected to surge in 2021, companies are gearing up to get their fair share of it. Real estate, an industry that is typically capital-intensive, has a particularly great opportunity to tap into this source of financing. European real estate companies, however, appear to be lagging behind on ESG performance compared to their global peers, and may risk losing out.
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ESG Essentials: Focused and Lean Reporting

Spurred by regulation and investor interest, more companies than ever are reporting on core ESG topics by publishing integrated or separate corporate sustainability reports. Simultaneously, more than $1tn in total assets under management in funds are now abiding by ESG principles, and legislation is catching up. While investors and policy makers are becoming stronger advocates for ESG disclosure, companies struggle to strike the balance between efforts and results. Focused and lean reporting combined with efficient responding to relevant external ESG rating requests can help to resolve this dilemma.
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Develop and accelerate your company's transformation to a more sustainable business model

Winning Sustainability Strategies Online Program: February-March 2021

The second edition of the IMD Winning Sustainability Strategies Online Program is a “how-to” guide that offers a very pragmatic take at how to integrate sustainability in your corporate strategy – while ensuring it has a strong business case. The program is aimed at business executives, strategy practitioners and sustainability professionals, who are looking to harness sustainability innovation and its strategic implications. Facilitated by the authors Jan van der Kaaij, Managing Partner of Finch & Beak, and IMD professor Benoit Leleux, this edition starts on 22 February 2021.
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Dow Jones Sustainability Index Readiness Assessment

ESG ratings are absorbing many resources. When in full reporting mode in Q1, you may run out of time and come across issues in your Dow Jones Sustainability Index (DJSI) process that you are not able to deal with at that very moment. For those eager to plan ahead and looking to maximally leverage their ESG performance, Finch & Beak developed a comprehensive Readiness Assessment for (future) participants of the DJSI and other ratings.
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