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🥁 Introducing: the first sustainability compliance tech map 👇 (+ WE WANT YOUR FEEDBACK ON IT) 35% of retail businesses we surveyed struggle to understand which tech solutions are available to navigate sustainability compliance. So we've created a (v1) framework to help. Taking a cue from GP Bullhound’s approach to carbon accounting, we’ve mapped out the key steps in sustainability compliance and included the tech solutions that can help at each stage. A few things to note: • The current focus is on key jobs to be done for compliance with regs such as the ESPR and the Green Claims Directive. • For instance, it excludes sustainability reporting platforms for mandatory reporting requirements like CSDDD, as well as carbon accounting tools (as these serve different purposes) • For now, we've opted not to include industry-agnostic platform engineering and data service providers which may be used in some businesses. • We know this guide isn't exhaustive and doesn't cover every solution or fulfil all compliance needs. And of course, the best tech stack for your business will depend on your data architecture, growth plans, and target markets. 📣 Now, we need your feedback—tech providers, sustainability and compliance teams, and anyone else looking for clarity in this space: • What’s helpful? • What’s not helpful? • What’s missing? Your insights will directly shape v2. As the compliance landscape evolves, so will this map. P.S.: We’re not affiliated with all the providers listed. They're just reference examples, not endorsements. _____ ➕ Follow Abbie Morris for posts about sustainability, policy, and startups. 📧 Drop me a DM if you want to learn more about tackling the mountain of sustainability regulation facing the retail industry.

🥁 Introducing the first sustainability compliance tech map 👇 Credits to Abbie Morris. Follow her for more sustainability insights. Original post: __________ Introducing: the first sustainability compliance tech map (+ WE WANT YOUR FEEDBACK ON IT) 35% of retail businesses we surveyed struggle to understand which tech solutions are available to navigate sustainability compliance. So we've created a (v1) framework to help. Taking a cue from GP Bullhound’s approach to carbon accounting, we’ve mapped out the key steps in sustainability compliance and included the tech solutions that can help at each stage. A few things to note: • The current focus is on key jobs to be done for compliance with regs such as the ESPR and the Green Claims Directive. • For instance, it excludes sustainability reporting platforms for mandatory reporting requirements like CSDDD, as well as carbon accounting tools (as these serve different purposes) • For now, we've opted not to include industry-agnostic platform engineering and data service providers which may be used in some businesses. • We know this guide isn't exhaustive and doesn't cover every solution or fulfil all compliance needs. And of course, the best tech stack for your business will depend on your data architecture, growth plans, and target markets. 📣 Now, we need your feedback—tech providers, sustainability and compliance teams, and anyone else looking for clarity in this space: • What’s helpful? • What’s not helpful? • What’s missing? Your insights will directly shape v2. As the compliance landscape evolves, so will this map. P.S.: We’re not affiliated with all the providers listed. They're just reference examples, not endorsements. __________ ♻️ Find this post useful? Feel free to share it with your network 📣 👉Follow Sustainability Infographics 📊 to learn from the industry's best visuals.

On the 18th of July ESPR announced the rules to standarize sustainability reports. Its hard stuff but below a short summery of 9 points which are interested to know and what to do. ESPR (European Sustainability Reporting Standards) regulations are a set of rules established by the European Union to standardize sustainability reporting by companies. These regulations aim to enhance transparency and accountability in corporate sustainability practices. Here's an overview of the key aspects of the ESPR regulations: 1. **Objective**: The primary goal is to provide stakeholders, including investors, consumers, and policymakers, with clear, comparable, and reliable information about companies' sustainability performance. 2. **Scope**: ESPR regulations apply to large companies and listed companies within the EU. This includes both financial and non-financial entities, ensuring a broad application across various sectors. 3. **Reporting Requirements**: Companies are required to report on a range of sustainability factors, including environmental, social, and governance (ESG) metrics. This includes information on carbon emissions, resource usage, human rights practices, diversity, and more. 4. **Standardization**: The regulations aim to create a standardized reporting framework, which helps in comparing sustainability performance across companies and industries. This standardization is crucial for investors and other stakeholders to make informed decisions. 5. **Verification**: There is a requirement for external assurance of the reported sustainability data, ensuring the accuracy and reliability of the information provided by companies. 6. **Digital Reporting**: Companies are encouraged to use digital formats for their sustainability reports, making it easier to access, analyze, and compare the data. 7. **Alignment with International Standards**: ESPR regulations are designed to align with other international sustainability reporting standards and frameworks, such as those set by the Global Reporting Initiative (GRI) and the Task Force on Climate-related Financial Disclosures (TCFD). 8. **Implementation Timeline**: The regulations come with a phased implementation timeline, allowing companies time to adapt their reporting processes and systems to comply with the new requirements. 9. **Penalties for Non-compliance**: Companies that fail to comply with ESPR regulations may face penalties, which can include fines and other legal consequences. The ESPR regulations represent a significant step towards improving corporate transparency and promoting sustainable business practices across the European Union. www.fenka.nl/fenka digital

The landscape of sustainability software is evolving rapidly. Increasing regulatory pressures, technological advancements, and a heightened focus on environmental accountability. By 2024, over 50,000 companies will be subject to new regulatory disclosure requirements regarding their environmental impact due to the EU’s Corporate Sustainability Reporting Directive (CSRD). The voluntary carbon market (VCM) is at a critical juncture, with new integrity guidelines set to shape its future. Main Challenges Data Complexity and Integration: Companies face significant hurdles in integrating diverse environmental data into actionable insights. This is essential for accurate sustainability reporting and effective decision-making. Regulatory Compliance: Keeping up with evolving regulations is becoming increasingly complex, necessitating agile and adaptable software solutions. Greenwashing Concerns: There’s a rising scrutiny of companies' sustainability claims, leading to a critical need for authentic communication and transparency in sustainability reporting. Breakthroughs and Trends Nature Intelligence: More businesses are beginning to recognize the importance of nature-related data and its integration into their sustainability strategies. This shift is essential for effective decision-making and risk management. AI and Technology Adoption: Advanced technologies like AI are increasingly used to collect and analyze sustainability data, enhancing the overall efficiency and effectiveness of sustainability efforts. Circular Economy: Businesses are adopting circular economy principles as standard practice, shifting focus from waste management to resource regeneration As climate risks intensify, there’s a growing emphasis on adaptation and resilience planning among organizations. This shift is crucial in mitigating the financial impacts of climate change. The VCM is also being scrutinized for its quality and integrity, prompting efforts to ensure more transparent and effective carbon credit projects. How is your organization adapting to these changes? Are you leveraging technology to enhance your sustainability initiatives?

Interoperability: A Trifecta of Sustainability — CSDDD, CSRD, and EU Taxonomy! In the ever-evolving landscape of sustainability, legislation is paving the way for a more interconnected and transparent corporate world where insights in global value chains become more important to uncover risks in sites, products and business model. The Corporate Sustainability Due Diligence Directive (CSDDD), the Corporate Sustainability Reporting Directive (CSRD), and the European Union (EU) Taxonomy are converging forces, each playing a crucial role in shaping the future of sustainable business practices. As initiatives continue to evolve, the confluence of CSDDD, CSRD, and EU Taxonomy signifies a paradigm shift in corporate sustainability. Interoperability fosters accountability, transparency, and stewardship. When talking interoperability, issuers of sustainability reports and decision-makers should look for: 1. Interoperable data Interoperability ensures that data reported under the CSRD aligns with the due diligence requirements of the CSDDD and further connects with the DNSH criteria of EU Taxonomy. By harmonizing data, companies can present a comprehensive picture of their sustainability efforts. The EU Taxonomy further reinforces alignment by prioritizing due diligence when reporting on activities. 2. Streamlined reporting processes The interoperability of EU initiatives streamlines reporting processes for businesses meaning that corporate sustainability should be prioritized in corporate strategy. 3. Holistic sustainability assessments Interoperability allows for a more holistic assessment of sustainability and a translation into corporate finance and investing. The CSDDD ensures that companies actively mitigate adverse impacts, the CSRD demands transparent reporting of these efforts, and the EU Taxonomy provides a framework for classifying activities as environmentally sustainable so investors can invest in green activities. Together with transition plans, they enable a comprehensive evaluation of a company's commitment to sustainable and responsible business practices. Further, the EU Taxonomy equips investors with a framework for evaluating material ESG-issues of investments. When coupled with comprehensive sustainability reports mandated by the CSRD, investors gain deeper insights into a company's overall sustainability performance, fostering informed decision-making aligned with environmental and social goals. Notably, own operations and controls should be in-depth described whereas influence and impacts should be overlooked and mitigated. 4. Compliance Interoperability ensures that companies aiming to comply with one directive are inherently aligning with the others. This interconnectedness simplifies regulatory compliance efforts, providing companies with a roadmap that satisfies the due diligence obligations of the CSDDD, the reporting requirements of the CSRD, and the criteria set by the EU Taxonomy. Picture: WEF Intelligence.

Interoperability and sustainability are also at the heart of TITAN Project EU! #transparency #traceability #sustainability #interconnectivity

🌍 Simplifying EU Sustainability Reporting with IFS & PwC UK Collaboration As EU companies gear up for new 2025 sustainability reporting requirements under the Corporate Sustainability Reporting Directive (CSRD), many are grappling with sustainability data management. To address this, PwC UK and IFS have partnered to launch a new Sustainability Management Module in IFS Cloud, making it easier to collect, track, and report data for CSRD compliance. 🔑 Key Impact Points: Data Simplicity: IFS Cloud’s module centralizes sustainability data for streamlined, accurate reporting. CSRD Compliance: The collaboration with PwC ensures companies meet all CSRD requirements. Long-Term Focus: Tools to set and track sustainability goals across the organization support ongoing ESG efforts. 💡 Why This Matters: Streamlined Compliance: With a unified data source, companies save time and minimize errors in CSRD reporting. Enhanced ESG Strategy: PwC’s expertise helps integrate sustainability goals seamlessly into business strategies. Transparency & Trust: Accurate data supports regulatory compliance and builds trust with stakeholders. Key Questions for the Board or Advisors to Consider: 1 - Are we prepared to meet the CSRD requirements by 2025, and where are our biggest data gaps? 2 - How can we leverage this tool to better integrate sustainability goals across our operations? 3 - What additional support might we need to ensure our sustainability reporting is both transparent and impactful? With the IFS Cloud and PwC partnership, companies can now tackle CSRD compliance confidently, using reliable data to strengthen their ESG standing and drive long-term growth. If of interest, Share your thoughts and strategies below in the comments, thanks!

Final thoughts on the importance of ESG metrics in driving sustainable business practices. ESG metrics are more than just a set of numbers; they represent a company’s commitment to long-term sustainability and ethical practices. Here are some final thoughts on their importance: 1. Strategic Alignment: ESG metrics help align a company’s strategies with sustainable development goals, ensuring that business growth does not come at the expense of environmental or social welfare. 2. Risk Management: By monitoring ESG metrics, companies can identify and mitigate risks related to environmental, social, and governance issues before they escalate. 3. Investor Confidence: Investors are increasingly using ESG metrics to assess the future performance and risk profile of companies. Strong ESG metrics can attract investment and improve market confidence. 4. Brand Reputation: Companies with strong ESG performance can enhance their brand reputation, customer loyalty, and employee satisfaction, leading to a competitive advantage. 5. Regulatory Compliance: As regulations around sustainability reporting tighten, ESG metrics ensure that companies remain compliant and avoid potential fines or sanctions. 6. Operational Efficiency: ESG initiatives often lead to improvements in operational efficiency, such as reduced energy consumption or waste, resulting in cost savings. 7. Innovation Driver: The pursuit of better ESG metrics can drive innovation, leading to new products, services, and business models that contribute to a sustainable economy. In conclusion, ESG metrics are not just a reflection of a company’s current sustainability practices but are also a powerful driver for improving those practices over time. They are essential for building a resilient, responsible, and future-proof business. https://lnkd.in/dSwUc2Yi

Moving from sustainability matter into sustainable information is not easy.. CSRD is a transformative approach for integrating sustainability into corporate reporting and corporate strategy. However, gathering accurate and comprehensive ESG data is highly complex and involves diverse operational areas and professional domains. By fact, ensuring the accuracy and integrity of sustainability reports (and data owners) for regulatory scrutiny involves rigorous data verification processes and thereby companies need to covert matters into information. It necessitates companies to consider both the impact of their operations on society and the environment, and how environmental and social issues can affect their financial performance. When pivoting reporting into strategic up-sites companies are to integrate the principles of due diligence into their business model and broaden their understanding of risks. This dual consideration ensures comprehensive transparency, highlighting issues that are materially significant both financially and in terms of broader societal impact. Sustainability matters are then to be converted from matters into information that can be monitored and managed. Under the CSRD, companies across the EU are required to provide detailed reports on a range of sustainability issues, including environmental protection, social rights, human rights, and governance. The picture is build on the topical standards (ESRS E1-5, S1-4, G1) and shows how matters are 'translated' into information for reporting purposes. The process involves identifying relevant sustainability matters, assessing their impacts bidirectionally (on the company and vice versa), and then structuring this information into clear, verifiable reports. The reporting will then require reliable and backable data meaning that the company are to establish targets and metrics to make sure that they can monitor and manage their sustainability matters. To govern the metrics the entity will need policies and action plans. The end goal is not only regulatory compliance (that's the bare minimum) but also enhancing stakeholder trust and identifying opportunities for sustainable growth, thereby aligning financial objectives with social and environmental responsibility. Therefore, the company needs to revisit their strategies and governance principles to make sure their organization is fit for new data infrastructures and measures.

Data plays a crucial role in many sectors and as mandatory sustainability reporting increases, data collection needs to become standardized for effective solution implementation.