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ESG is here to stay, and these three letters have gradually formed a powerful concept. ESG stands for Environmental, Social, and Governance factors, which together create the framework for sustainable business operations. This means that there are increased requirements for your reporting, which must now incorporate these specific areas. In Denmark, as in the rest of the EU, there is increased focus on how companies report their ESG performance, including specific requirements and guidelines to be observed.
What is ESG reporting?
ESG reporting encompasses the process by which companies document their sustainable practices. It is a way for businesses to communicate their sustainability activities and results to stakeholders such as investors, customers, and employees. But what exactly are the ESG reporting requirements?
ESG Reporting Services
ESG reporting requirements
In the EU, the requirements for ESG reporting have become stricter through the introduction of the EU taxonomy for ESG. The legislation aims to standardise what is considered a sustainable economic activity and thereby provide clarity on how ESG reports should be structured. ESG requirements include detailed guidelines on how companies should measure and report their environmental footprint, social responsibility, and governance structures.
ESG reporting in Denmark
In Denmark, national guidelines and regulations have increased the need for transparent ESG reporting. By focusing on these aspects, there is an opportunity to create greater value for you as a company, but also to increase the value for both investors and society.
A good ESG reporting example will demonstrate the company's commitment to environmental initiatives, social contributions, and a strong governance structure. An example of an effective ESG report could include a detailed review of the company's energy consumption, reduction of greenhouse gas emissions, working conditions, employee rights, and the composition and work of the board of directors. These reports not only help to meet regulatory requirements but also serve as a powerful communication tool.
Understanding what ESG reporting is and implementing it effectively is crucial for companies. It is not only a way to meet legislative requirements but also an opportunity to demonstrate accountability and contribute to a more sustainable future.
Given the increasing requirements for transparency and accountability, it is clear that ESG reporting in Denmark and globally will continue to be an important focus area for companies.
ESG roadmap
We can help you transform your ESG ambition or mandatory reporting requirements into a tangible and practical roadmap, where we go through four phases by means of our Change Model: 1) Identification of requirements and needs 2) Design and development 3) Implementation 4) Embeddedness and alignment.
Double materiality assessment
Are you about to begin your CSRS implementation and to prepare your ’double materiality assessment’? We have a practical approach and follow a standard procedure when going through all ESRS subjects and sub-subjects. Thus, you will get a specific list of material KPIs as well as documentation of any de-selection of immaterial KPIs.
ESG operating model
Do you need a new ESG reporting software? This is one of the questions that you can find an answer to by means of Basico's ESG operating model. It helps you divide the reporting task into processes, competences, systems, guidelines (governance), management and culture. On the basis of the model, we can establish the building blocks needed to handle ESG reporting in an operational and structured way.
Would you like to know more?
Contact us