“The future interests me – I’m going to spend the rest of my life there.”
Mark Twain
Why ESG?
The topic of ESG (Environmental, Social, Governance) is becoming increasingly important. Ever since the Paris Climate Conference in 2015, at the latest, the path to a more sustainable future has been decided, at least on paper.
Therefore, one question will increasingly gain importance: How can I remain competitive as a company in the future?
The benefits of ESG are theoretically undisputed. Also, it is expected that ESG related topics will permeate all aspects of corporate life in the near future. We support you so that ESG measures also offer real added value for your business in their implementation.
EU Reporting Requirements
Corporate Sustainablity Reporting Directive (CSRD) is the reporting regulation by the EU.
This includes the European Sustainability Reporting Standards (ESRS). The first parts were published in November 2022. Further parts are to follow in June 2023.
Closely related to this is the EU Taxonomy, which describes activities that contribute significantly to achieving the environmental goals defined in it
Non-compliance may result in criminal penalties, as is also the case with financial reporting.
Who does ESG concern?
From fiscal year 2025, there will be a reporting requirement for all large corporations domiciled in the EU that meet 2 out of 3 of the following criteria - larger companies even earlier
- > € 40 million Sales revenue
- > 20. million€ Balance sheet total
- > 250 employees
In Austria, approximately 2,000 companies fall under the reporting obligation.
Companies from third countries that operate to a certain extent in the EU are also affected.
Our service, your added value
risk on mind® supports your organization by implementing a continuous ESG process within the company. It is our goal to establish the prerequisites for cost-efficient, digitalized evaluation, including digital reporting.
risk on mind® is highly experienced in risk data collection with customers in risk management and can directly include ESG reporting.
Standards published in the future will also be implemented and the requisite data will then be available to be transmitted directly to the EU in digital form.
Advantages
- ESG helps industrial companies improve their environmental performance and adopt sustainable practices to minimize their impact on the environment.
- ESG promotes social responsibility in industrial operations and ensures that employees, customers and other stakeholders are treated fairly.
- A strong governance structure, as envisaged in the ESG concept, promotes ethical and transparent decision-making in industrial companies.
- ESG helps industrial companies identify and manage risks, including regulatory compliance, supply chain disruptions and reputational damage.
- Through ESG, innovation is fostered in industrial companies to remain sustainable and competitive, develop new business models, and invest in promising research and development.
- risk on mind® is at your side to establish continuous and economically sensible ESG structures in your company.
- risk on mind® protects you from bureaucratic chaos, and supports you throughout the entire process - from data collection to reporting according to legal standards.
