Some of my clients are confused! During the annual financial statement process, the auditors warned of the coming sustainability reporting obligation for many larger companies and asked management to prepare for it. In fact, many large companies are required to prepare a sustainability report in accordance with the EU Corporate Sustainability Directive (CSRD) for the first time for the financial year beginning in 2025. This must be created and certified in accordance with the “European Sustainability Reporting Standard” (ESRS). The auditors are definitely happy about this, because they have a new business field.
This challenge, which affects the entire orientation of the company, should now be met with the gradual introduction of a sustainability management system. Most auditors do not offer this, because then they would not be allowed to certify the CSRD report every year. I have been helping small and medium-sized companies to integrate more sustainable management into existing structures and processes bit by bit for a longer time. Read my still up-to-date specialist article from September 2022 again, which summarizes the topic for you on three pages (in German) here.
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