How to approach ESG Reporting
Written by Robin Boustead, ESG & Carbon Management Strategist
The European Union (EU) and world financial markets are currently experiencing an explosion of sustainability reporting standards, most notably the International Sustainability Standards Board (ISSB, established by the global accounting standard-setter International Financial Reporting Standards, IFRS) and the European Sustainability Reporting Standards (ESRS, an outcome of the Corporate Sustainability Reporting Directive, CSRD). Both link financial reporting statements with sustainability disclosures to strengthen investor protection, reduce greenwashing and ensure reliable and comparable disclosures that meet the information needs of investors and other stakeholders.
Following is a summary of how to approach and implement reporting systems to meet your obligations under these new standards.
Conducting a Scope 1-3 Emissions Assessment
Written by Raphael Schranz, Circular Economy Specialist
Introduction
Assessing and managing greenhouse gas (GHG) emissions across Scope 1, 2, and 3 is vital for companies committed to sustainability and reducing their environmental footprint.
Why Conduct a Scope 1-3 Emissions Assessment?
- Regulatory Compliance: Ensure compliance with local and international environmental regulations.
- Operational Efficiency: Identify opportunities to improve efficiency and reduce costs by minimizing energy use and waste.
- Stakeholder Trust: Enhance transparency and build trust with stakeholders, including customers, investors, and regulators.
- Risk Management: Mitigate risks associated with climate change and regulatory pressures.
- Competitive Advantage: Position your company as a leader in sustainability, attracting socially responsible investors and customers.
Understanding Scope 1, 2, and 3 Emissions
Scope 1: Direct Emissions
These are emissions from sources owned or controlled by your company, such as fuel combustion in company-owned vehicles and on-site manufacturing processes.
Scope 2: Indirect Emissions from Energy
These are emissions from the generation of purchased electricity, steam, heating, and cooling consumed by your company.
Scope 3: Other Indirect Emissions
These include all other indirect emissions that occur in your value chain, both upstream and downstream. Scope 3 emissions cover 15 categories, including purchased goods and services, business travel, and waste disposal.
Steps to Conduct a Scope 1-3 Emissions Assessment
ESG Strategy - How to start
Written by Andrea Orsag, Sustainability Strategy Expert
ESG STRATEGY – CREATION
- WHERE WE ARE - Start by defining baseline
- WHERE WE NEED TO GO – Identify requirements (regulatory and Industrial)
- WHERE ARE WE GOING – Define ambition
The EU Taxonomy regulation
Written by VIRIDAD
Your direct path to expert knowledge and essential EU Taxonomy insights for well-informed, sustainable business decisions.