Environmental, Social & Governance (ESG)
Sustainable development offers new opportunities and helps to optimize resources in the long run by considering three areas
“Sustainability is the development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” Brundtland Commission, United Nations, 1987
We see a sustainable business approach as a good balance between environmental (planet), social equity (people) and economic demand (profit) that all together provides a growth and development opportunity. There is no ‘one-size-fits-all-solution' of sustainable processes adaptation for business, as possible solution can range from building flood defences, to redesigning communication systems, business operations etc.
The new Corporate Sustainability Reporting Directive (CSRD), which refers to business environmental, social responsibility, and governance (ESG) aspects, obliges large companies starting from next year to set the number of new quantitative and qualitative metrics and measures. Among them are the determination of double materiality assessment (financial and impact materiality), Scope 1, 2 and 3 calculations, creation of an ESG risk matrix, setting goals for future KPIs, etc. All are necessary to show where the company is in its business model today and where it plans to position itself in the future in relation to the European sustainability agenda. Read more about the topic here: ESG data is new gold.
Our team of professionals and niche experts knows how to assess ESG impact, set sustainable goals, develop customized strategy with action plan and to summarize it in the environmental, social & governance (ESG) report.
Orients Audit & Finance in cooperation with UK based global software and services company CoreFiling have created the first publicly available digital sustainability report template in Europe. To tag the report, the project of the International Sustainability Standards Board (ISSB) taxonomy was used. Check it here.
Company’s impact on the environment:
Company’s social responsibility:
Company’s effectiveness in managing internal processes and risks: