Stathis Petropoulos’ Post

The UK’s Financial Conduct Authority (FCA) has confirmed that its new rule aimed at combating greenwashing, the Sustainability Disclosure Requirements (SDR), will take effect on May 31 despite strong pushback from the country’s businesses, as reported by Reuters on April 23. Read more at: https://lnkd.in/e9B6W7q9 #ESG #Sustainability #SDR #ESGInsights #SenecaESG #SenecaInsights

The FRC study on Sustainability Reporting Assurance published this week is a really interesting and well structured read. Whilst it fairly captures the perception that audit firms are likely to grow sustainability assurance market share, I am pleased that it also recognizes the prevalence of non-audit firms once you look beyond the top 100 in an index and the deep subject matter expertise non-audit firms possess. As part of a non-audit firm providing assurance, I welcome these studies as they support the view that an open market is a healthier market, and my own knowledge that TIC firms bring a cost competitive and expertise driven offer to the table. #ESGassurance #Sustainability #Transparency Lauren Sparrow Alexander Martin Morris

Understanding the CSRD: Requirements, scope, timeline 🌱 The Corporate Sustainability Reporting Directive (#CSRD) is set to reshape how businesses approach ESG reporting. Covering almost four times the number of organisations as its predecessor, the Non-Financial Reporting Directive (#NFRD), the CSRD introduces stricter requirements for transparency, accountability, and comparability, affecting every level of a company’s structure - from top management to daily operations. The CSRD’s phased implementation begins this year, with detailed guidelines on #ESG risk assessments, double materiality, and mandatory sustainability assurance. Businesses in scope will need to rethink their reporting practices, aligning them with the European Sustainability Reporting Standards (#ESRS) to meet the new regulations. GoodCorporation's latest blog dives into the key elements of the legislation, including the timeline, requirements, and how companies can best prepare for the transition. Whether you’re an SME or a large multinational, understanding these new obligations is critical to maintaining compliance and driving sustainable growth. To find out everything you need to know about the CSRD and what it could mean for your business, click the link below: #sustainability #environment

A big thank you to Camila Chamorro for her valuable support in gathering key details for this article on the Corporate Sustainability Reporting Directive (#CSRD). The CSRD is set to bring major changes to ESG reporting. Covering far more organisations than its predecessor, it introduces stricter requirements that will impact businesses at every level. Our latest blog breaks down the key aspects of the CSRD, from its scope to the timeline for implementation - a helpful resource for those tracking the latest in ESG reporting regulations.

🌍 Corporate Sustainability Reporting Directive (CSRD Institute): Five Common Doubts The #EU’s Corporate Sustainability Reporting Directive (#CSRD) marks a significant shift in sustainability reporting regulations, requiring comprehensive reporting for companies operating under its jurisdiction. Coupled with the concept of double materiality, which considers both financial and impact materiality, complying with these requirements presents a multifaceted challenge for businesses. 🔑 Common Questions about the CSRD: 1️⃣ Will the first report under the new rules apply to 2023 or 2024 data? The first report under CSRD will cover 2024 data, to be published in 2025. 2️⃣ Does the sustainability report replace non-financial reports based on GRI standards? No. Both reports complement each other, though CSRD requires more extensive disclosure. 3️⃣ What happens to GRI standards if the report follows ESRS standards? GRI remains a key document for investors, while ESRS is mandatory in Europe for CSRD compliance. 4️⃣ Where can I find templates for preparing the non-financial sustainability report? #EFRAG provides open resources for reporting and #KPIs here: https://lnkd.in/dXc35Mx7 💡 Key takeaway for #investors: #Companies that do not address sustainability will face reputational risks, regulatory challenges, and potential business disruptions. If you need help implementing or #analyzing a double materiality assessment in your company, contact me! #csrd #sustainabilityreporting #corporatesustainability #esg #doublemateriality #investors #hotelinvestment #financialreporting #sustainableinvesting #hospitalityindustry #sustainabilitymatters

🌍Get Ready for the Corporate Sustainability Reporting Directive (CSRD)!🌍 In January 2023, the European Union adopted the Corporate Sustainability Reporting Directive (CSRD), which mandates annual sustainability reports for companies with activities in the EU, alongside their financial statements. This new directive brings comprehensive and granular reporting requirements, going beyond existing ESG frameworks. Who Needs to Comply? ❗ Large companies (>500 employees): Must comply starting January 1, 2024, with reports due in 2025. ❗Companies with >250 employees or meeting financial criteria: ❗Compliance starts January 1, 2025, with reports due in 2026. ❗Listed SMEs and non-EU parent companies: Compliance begins January 1, 2026, with reports due in 2027. Listed SMEs can opt out until 2028. Key Benefits of CSRD Compliance 📈 Risk Mitigation: Avoid penalties and enhance resilience against climate-related risks. 📈 Cost Savings: Optimize resources and reduce waste for long-term financial benefits. 📈 Innovation Catalyst: Drive new business opportunities and solutions. 📈 Enhanced Reputation & Trust: Build credibility and attract stakeholders through transparent sustainability practices. Now is the time to integrate sustainability into your core strategy. The future of business is green—don't get left behind! ☎ 0141 226 8525 📲 07562 946 372 📩 Hello@weareboxfish.com #Sustainability #ESG #CSRD #CorporateReporting #BusinessGrowth #RiskManagement #Innovation #Boxfish

The Corporate Sustainability Reporting Directive (CSRD) broadens the scope and depth of the information businesses must disclose in their ESG reporting. Replacing the previous Non-Financial Reporting Directive (NFRD), the CSRD strengthens the requirements by imposing stricter reporting standards based on ESRS (European Sustainability Reporting Standards). 🔎#CSRDReporting is not only a regulatory obligation, but also an occasion to consider the impacts, risks and opportunities associated with ESG issues. In particular, through the concept of double materiality, companies must report on both the positive and negative impacts of their value chain on the environment and people, as well as anticipating the impact of these macro issues on their financial health. 🔎#CSRD reporting will follow a phased approach, with larger companies reporting in 2025 and SMEs and non-EU companies reporting in 2027-2029. Compliance with the #CSRD enables companies to produce more reliable and actionable sustainability report, creating long-term value, improving transparency and building stakeholder trust. Iacopo Predieri, Sustainability, Health & Wellbeing Consultant at GET, has recently completed the #CSRDFundamentals course by the CSRD Institute, adding up to the multifaceted expertise of the GET team. #CorporateResponsibility #CSRDEducation #EUReporting #CSRDFundamentals 

The Corporate Sustainability Reporting Directive (CSRD), together with the accompanying European Sustainability Reporting Standards (ESRS), is probably one of the hottest topics regarding Corporate Sustainability at the moment. As companies start and continue to digest the implications of this new regulatory framework, many doubts and uncertainties arise (to be expected). Our comprehensive Whitepaper offers great insights, including: ⦿ Introduction to the CSRD and its transformative impact on sustainability reporting. ⦿ Insights on which companies fall under the CSRD's scope and its implications. ⦿ Detailed exploration of ESRS, covering mandatory and non-mandatory standards. ⦿ Actionable guidance to ensure your organisation aligns with ESRS requirements. The CSRD will impact over 50,000 companies starting in 2024, elevating ESG reporting to the level of financial reporting, and setting a new benchmark for corporate transparency across Europe. For you, CSRD is a strategic opportunity to align your company with the EU's ambitious sustainability goals. To stay ahead, start collecting data and understanding these requirements now. Download our Whitepaper today: https://lnkd.in/e_2MQDzk #sustainability #ESRS #CSRD #ESG #corporateresponsibility #PlanA #compliance #transparency #corporategovernance #EUregulations #regulatory #reporting

How is the EU keeping up with Sustainability? 📗The simple answer is through the Corporate Sustainability Reporting Directive (#CSRD) but what exactly is that?   This is this the latest directive on non-financial disclosure. This assumes the place of the old directive #NFRD. The CSRD expands the scope so larger companies now fall underneath it. It requires companies to perform a #DoubleMateriality assessment which reports on both the impact the business has on the environment and how they are impacted by the environment. This is combined with extensive sustainability related disclosures such as: - Sustainable strategy - Stakeholders interest - Incentive schemes - Key Indicators of Sustainability - Due diligence process - Impact on supply chain ⏰The key timeline for the CSRD is as follows, on the financial year in 2026 companies that are not currently subject to the NFRD will need to report. 💡CSRD goes some way to meeting the demands of an increasingly ESG-focused investment community which I talked about in my previous post (link below). This has massively affected the demand for #ESG specialists in companies aligning with the CSRD by 2026, but has opened up the market to ESG strategists that can work with the CSRD to optimise and develop effective strategies to implement now and after the CSRD is in place post 2026. 🔗ESG investment post: https://lnkd.in/eXRs5RKx 🔗Read more from the source: https://lnkd.in/emMCjtiH

🌍 CSRD Milestones & Applicability – Key Dates for ESG Reporting The Corporate Sustainability Reporting Directive (CSRD) is reshaping the landscape for sustainability reporting, bringing about essential milestones for both EU and non-EU companies. Here’s a quick breakdown of key dates to help you stay compliant and prepared: 📌 April 2021: CSRD proposal adopted by the European Commission (EC). 📌 June 2023: EFRAG submits the Sector & SME Standard. 📌 July 2023: CSRD passed, and draft ESRS submitted. 📌 January 2024: CSRD applies to large listed companies (NFRD reporters). 📌 January 2025: CSRD applies to large undertakings. 📌 January 2026: CSRD applicable to listed SMEs. 📌 January 2028: CSRD extended to non-EU companies. With these milestones approaching, it's crucial for businesses to prepare their ESG (Environmental, Social, and Governance) reports in line with the upcoming standards. 🔗 Let’s build transparency and drive sustainable growth together! Learn how IRIS CARBON® can help. #Sustainability #ESG #CSRD #CorporateReporting #SustainabilityReporting #EURegulation