Get prepared for the new requirements in ESG reporting

Sustainability is good for business being it retail, manufacturing, financial services, energy, or public sector. Multiple organizations leverage technology to solve sustainability challenges and quantifying the carbon emission is only the beginning. The other areas include:

• Infrastructure transformation (Sustainable Platform) meaning reduction of CO2 emissions via cloud migrations.
• Remote work & collaboration (Sustainable Operation) meaning fully digitalized operations and online collaborative software that removes the need for physical presence at specific work locations, reduces business travel and employee commuting.
• Societal development (Sustainable Ecosystem) meaning emerging partnership on tech-enabling sustainability.

On one hand ESG reporting is well-established process, and many companies prepare Sustainability Reports on a regular basis. On the other hand, however, new regulatory requirements (like CSR Directive) make it necessary to review the current approach and adapt to the new normal. Even if your company is not on the list of 50 000 enterprises covered by new rules, it makes sense to prepare for an unavoidable increase of ESG reporting obligations.

Depending on the company characteristics the ESG reporting requirements will start applying in the EU market between 2024 and 2028, so there is still some time to prepare for the inevitable.

ESG Reporting Readiness & Maturity Assessment is the best approach to check an organization's readiness for current and future ESG reporting requirements. After the successful assessment, the following areas will be identified and any organization will be ready to deploy modern set of tools for ESG reporting:

• Organization basic information
• Main stakeholders
• Regulatory requirements
• Reporting key indicators
• Reporting cycle
• ESG goals/targets
• Factor libraries needed
• List and specification of required data sources
• Next steps (like Microsoft Sustainability Manager Proof of Concept)

At Elitmind we accelerate the development of organizations by making data usage their competitive advantage. We work with companies that have built or want to build a work culture based on data values. What counts for our clients is not only the final product but also the speed of implementation and flexibility. We are committed to environmental sustainability, and we maintain the culture of diversity & inclusion. Elitmind is part of the Microsoft Cloud for Sustainability initiative (see Shaping a Sustainable Future; e-book available in polish). We rely on Microsoft Sustainability Manager internally and we are happy to share our hands on experience with the solution.

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