Sustainability and climate protection are central challenges of our time. Companies, credit institutions and other financial service providers are therefore also increasingly required by various directives and regulations to actively contribute to the achievement of the EU climate goals. This results in comprehensive transparency and disclosure obligations, the fulfilment of which is associated with a considerable expenditure of time and money.
The EU Taxonomy Regulation sets rules for ecologically sustainable activities. It requires companies that are obliged to publish a non-financial report to assess the sustainability of their business activities.
Three key figures must be calculated and disclosed in particular here:
Activities are deemed to be taxonomy-compliant if they make a significant contribution to one of six environmental targets.
The Corporate Sustainability Reporting Directive (CSRD) has put sustainability reporting on the same level as financial reporting and has considerably expanded non-financial reporting obligations. About 50,000 companies in the EU are affected, ~ 15,000 of which are in Germany.
The CSRD is associated with the following innovations:
The CSRD follows the principle of dual materiality, which means: Companies must report both on the effects of their own business operations on people and the environment, and on the effects of sustainability aspects on the business situation of the company.
The CSRD affects all large EU companies and groups that exceed at least two of the following criteria on two successive reporting dates:
SMEs only come under the directive if they are orientated on the capital market.
The European Sustainability Reporting Standards (ESRS) are uniform European sustainability reporting standards and were developed by EFRAG on behalf of the EU Commission.
They affect companies within the scope of the CSRD and demand the publication of sustainability information in the areas of environmental, social and governance on a standardised common basis − with the aim of ensuring access to reliable, transparent and comparable data.
The SCHUFA ESG Solution supports you to meet current and future regulatory requirements simply, efficiently and in a structured manner. The central platform enables a simple exchange of data and automatically calculates the relevant key figures.