ASUENE Inc.’s Post

𝗨𝗽𝗱𝗮𝘁𝗲: 𝗜𝗻𝘁𝗲𝗿𝗼𝗽𝗲𝗿𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 𝗚𝗥𝗜 𝗮𝗻𝗱 𝗘𝗦𝗥𝗦 The European Union’s Corporate Sustainability Reporting Directive (CSRD) will expand mandatory sustainability disclosures to over 50,000 companies, with detailed reporting on environmental, human rights, and social standards covering fiscal year 2024. The European Sustainability Reporting Standard (ESRS), developed by the European Financial Reporting Advisory Group (EFRAG) and adopted by the European Commission in 2023, outlines the requirements for companies to report on sustainability impacts, opportunities, and risks. As one of the most widely recognized global standards for sustainability reporting, the Global Reporting Initiative (GRI) helps ensure consistent communication across industries. Following a major update in 2021, GRI has recently proposed new climate change, energy, and biodiversity reporting standards. Due to GRI and EFRAG's collaboration, there is a high interoperability between ESRS and GRI Standards, allowing greater alignment for sustainability reporting. GRI has introduced the GRI-ESRS Interoperability Index to prevent double reporting for companies disclosing under both systems. For more industry-related updates, follow Brundtland. Read the full article below: https://lnkd.in/dNkHsgjW #Sustainability #ESG #ESRS #CSRD #SustainabilityReporting #CorporateSustainability #Brundtland

𝗨𝗽𝗱𝗮𝘁𝗲: 𝗜𝗻𝘁𝗲𝗿𝗼𝗽𝗲𝗿𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 𝗚𝗥𝗜 𝗮𝗻𝗱 𝗘𝗦𝗥𝗦 The European Union’s Corporate Sustainability Reporting Directive (CSRD) will expand mandatory sustainability disclosures to over 50,000 companies, with detailed reporting on environmental, human rights, and social standards covering fiscal year 2024. The European Sustainability Reporting Standard (ESRS), developed by the European Financial Reporting Advisory Group (EFRAG) and adopted by the European Commission in 2023, outlines the requirements for companies to report on sustainability impacts, opportunities, and risks. As one of the most widely recognized global standards for sustainability reporting, the Global Reporting Initiative (GRI) helps ensure consistent communication across industries. Following a major update in 2021, GRI has recently proposed new climate change, energy, and biodiversity reporting standards. Due to GRI and EFRAG's collaboration, there is a high interoperability between ESRS and GRI Standards, allowing greater alignment for sustainability reporting. GRI has introduced the GRI-ESRS Interoperability Index to prevent double reporting for companies disclosing under both systems. For more industry-related updates, follow Brundtland. Read the full article below: https://lnkd.in/dNkHsgjW #Sustainability #ESRS #CSRD #SustainabilityReporting #CorporateSustainability #ESG #Brundtland

𝐆𝐑𝐈-𝐄𝐒𝐑𝐒 𝐋𝐢𝐧𝐤𝐚𝐠𝐞 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐋𝐚𝐮𝐧𝐜𝐡: 𝐁𝐫𝐢𝐝𝐠𝐢𝐧𝐠 𝐆𝐥𝐨𝐛𝐚𝐥 𝐚𝐧𝐝 𝐄𝐮𝐫𝐨𝐩𝐞𝐚𝐧 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠 𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝𝐬 · Launch of GRI-ESRS Linkage Service: The Global Reporting Initiative (GRI) introduced a new service to align its disclosure standards with the European Sustainability Reporting Standards (ESRS) under the EU’s Corporate Sustainable Reporting Directive (CSRD). · Enhanced Reporting Alignment: The GRI will provide feedback on the alignment of companies' GRI content with ESRS, aiming to streamline sustainability disclosures and reduce "double reporting." · Expanded Reporting Requirements: The CSRD now mandates over 50,000 companies to report on sustainability, a significant increase from the previous 12,000, covering more detailed environmental, human rights, and social standards. · Interoperability and Cooperation: The GRI and EFRAG confirmed high interoperability between ESRS and GRI standards, with plans for deeper collaboration in standards development and training. 𝐑𝐞𝐥𝐚𝐭𝐢𝐧𝐠 𝐭𝐨 𝐄𝐒𝐆: This development marks a pivotal step in harmonizing global and European sustainability reporting standards, ensuring comprehensive and transparent ESG disclosures. The integration supports companies in meeting growing demands for ESG accountability and contributes to a more sustainable business landscape. The new ESRS and GRI standards will enhance the depth and breadth of ESG reporting by including updated climate change, energy, and biodiversity standards. These enhancements will provide a more holistic view of a company’s sustainability impacts and efforts, promoting better decision-making and fostering greater stakeholder trust. How can the alignment of GRI and ESRS standards impact ESG reporting and strategy?WL Consultech #ESG #Sustainability #GRI #ESRS #CorporateReporting #SustainabilityStandards #CSRD #EnvironmentalImpact #HumanRights #SocialStandards #WithLaw #WLConsultech #WithLawPeople #learnWithLaw https://lnkd.in/dYX3tTYJ Disclaimer: The Content in this post is for informational purposes only derived from references and does not constitute any professional advice. We do not claim ownership of any data or Information referenced

Are you ready to navigate the complexities of implementing the Corporate Sustainability Reporting Directive (CSRD)? In our latest blog post, we explain the critical aspects of implementing CSRD, providing expert insights and practical strategies to help you succeed in this rapidly evolving landscape. From understanding regulatory requirements to harnessing the power of data-driven decision-making, we've got you covered. Curious to learn more? Click the link to read the full blog and discover how Cority can empower your organization to thrive in the era of sustainability reporting. https://lnkd.in/gWdF5EHq #csrd #sustainability #sustainabilityreporting #cority #empowerbetter

CSRD may also impact US companies with EU subsidiaries or operation. Check out the below article for insights on the regulation written by a member of Cority's sustainability advisory team. 

There has been much discussion about how the standards developed by the International Sustainability Standards Board (ISSB), the Global Reporting Initiative (GRI), and EFRAG's European Sustainability Reporting Standard fit together. Today Responsible Investor published a very practical and sensible piece by Veronica Poole of Deloitte. My thanks to Elza Holmstedt Pell and Lucy Fitzgeorge-Parker for publishing this important contribution for everyone who cares about high-quality sustainability reporting. Drawing an analogy to how various jurisdictions treat U.S. GAAP and IFRS as equivalent for financial reporting, Veronica argues that the same can be true for sustainability. ISSB's financial materiality approach and GRI's impact materiality approach add up to the double materiality approach of the Corporate Sustainability Reporting Directive (CSRD). Recognizing this equivalence would bring enormous benefits to companies in doing high-quality sustainability reporting in a cost effective way. California's State Senate Bill on climate reporting has already granted equivalence to the ISSB. While the SEC's much awaited climate disclosure rule is not yet out (but will be soon) having it grant equivalence to ISSB would also be helpful. I see a great opportunity for the European Commission to show leadership here by recognizing the equivalence Veronica calls for. This would help set the table for the SEC to do the same. The result would be a global baseline for financial materiality sustainability reporting. https://lnkd.in/eAcss83j

Important suggestion for all that seek ways towards effective and efficient sustainability reporting, avoiding confusion, high costs, and fragmentation. Veronica Poole at Deloitte brings to our attention a very practical suggestion for policymakers. Robert Eccles explains. “ISSB's financial materiality approach and GRI's impact materiality approach add up to the double materiality approach of the Corporate Sustainability Reporting Directive (CSRD). Recognizing this equivalence would bring enormous benefits to companies in doing high-quality sustainability reporting in a cost effective way.” Learn more in Robert’s post and the article in the Responsible Investor. #sustainabilityreporting #policymaking #policymakers #businessleaders

The future won't wait for us to catch up... A few days ago EU member states in the European Council announced The European Union's decision to delay the implementation of sector-specific and non-EU company sustainability reporting standards until 2026. This might seem like a pragmatic move, but it raises urgent questions about the pace at which we are addressing environmental and social challenges. 🤔 While this postponement under the Corporate Sustainability Reporting Directive (CSRD) allows companies more time to prepare, it also means that crucial data and accountability measures will be on hold. In a world facing rapid climate change and increasing social inequalities, can we afford these delays? Read more: https://lnkd.in/d9x7uYYY #Sustainability #ESG #CSRD #Climateaction #Corporateresponsibility

This service provides GRI reporters with detailed feedback on their current reporting and its alignment with the European Sustainability Reporting Standards (ESRS). These standards are a tool for ensuring compliance with the Corporate Sustainability Reporting Directive (CSRD) in the European Union. - A good read by Mark (Moshe) Segal 🌏 #ESG #GRI #ESRS #CSRD #sustainability

Very informative article discussing the wide reach of EU’s Corporate Sustainability Reporting Directive and its potential impact on US organizations. The #CSRD requirements go beyond any current reporting standard worldwide, and US companies conducting business in the EU are likely to be in its scope. This article dives into challenges the CSRD presents, factors to consider, and how it may affect your value chain. #TPRM #ESG