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FlagshipTSI2025 - Improving Sustainability Reporting For Businesses

Corporate sustainability reporting template

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sameeksha ns
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15 views2 pages

FlagshipTSI2025 - Improving Sustainability Reporting For Businesses

Corporate sustainability reporting template

Uploaded by

sameeksha ns
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Improving Sustainability

Reporting for Businesses

Context
Sustainable finance facilitates re-orientating products .
investment towards sustainable economic
activities. Two of its key elements are the The proposed flagship initiative would
Corporate Sustainability Reporting provide implementation support and capacity
Directive (CSRD) and the EU Taxonomy building to allow public authorities to assist
Regulation, with specific reporting all companies, in particular SMEs, with
requirements and sustainability reporting. By supporting SMEs,
standards. These requirements and the the initiative would be consistent with the
corresponding standards represent new Commission priority aiming to reduce the
terrain for a large range of companies which reporting burden for SMEs, as envisaged
are new to this and will be obliged to report in 2023 State of the Union address
sustainability information. Companies’ (SOTEU) of President von der Leyen and
reporting is, on the other hand, essential for the SMEs Relief Package launched on 12
other financial sector actors (banks, September 2023 .
insurance companies, etc) to be able to fulfil
their own reporting obligations and
adequately price their services and

Sustainability reporting plays a crucial role for companies, providing a


transparent and comprehensive account of their environmental, social, and
governance (ESG) performance

Objectives

The proposed flagship will support Member States to enhance companies’ capacity to
implement the existing and forthcoming EU sustainability reporting framework, stemming from
the CSRD and the EU Taxonomy. The support, to be provided via the Member State
authorities, will target all companies in the scope of the CSRD.

1
Indicative support measures

Below is an indicative, non-exhaustive list of support measures


Diagnosis measures such as:
• Mapping of national good practices, developing comparative
analyses/stock-taking exercises.
• Mapping available data and providing gap analysis.
Implementation measures such as:
• Support for the improvement of data availability to match disclosure and
reporting requirements.
• Guidance for the design and implementation of systems and
arrangements necessary to meet disclosure and reporting requirements
and to identify ESG impacts, risks and opportunities, including the
development of reporting templates, in particular for SMEs.
• Mapping, advice, and support on the development of analytical tools for
companies aimed at automating disclosure and reporting obligations.
• Designing of public data hubs as single access points for ESG
information.
Capacity building and awareness raising actions such as:
• Organisation of cross-sectoral capacity building exchanges among
national competent authorities, including workshops, study visits and
personnel exchanges, to promote broad understanding of sustainability
disclosure and reporting practices covering the CSRD and the EU
Taxonomy.
• Organisation of conferences/public events to raise awareness of various
stakeholders about the CSRD and the EU Taxonomy.
• Assistance in development of communication campaigns, including
targeted educational and training initiatives for companies and for public
stakeholders that advise companies on the CSRD and the EU Taxonomy.
• Development of free online training packages and advice on the
development of helpdesk support (on-line self-service portal) to help
companies using the EU Taxonomy for the transition of their activities, and
for ease of implementation of the disclosure and reporting requirements.

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