Effective ESG Solution
Our ESG solution will lead you through all the processes,
including setting objectives, collecting the necessary data, consolidating the data, enabling you to use it for further analytical purposes and ensuring the creation of the final ESG report.
In 2015, an original strategic initiative under the leadership of the UN was established, setting qualitative global Sustainable Development Goals (SDGs). Environmental Social Governance (ESG) builds on the initiative by setting quantitative goals. The new Corporate Sustainability Reporting Directive (CSDR) and the reporting standards (ESRS) that are based on the Directive and that were developed under the leadership of the EFRAG Task Force of the European Commission will gradually become mandatory for the vast majority of companies in the coming years.
The aim of this initiative should be the long-term sustainability of specific business activities in terms of nature conservation and principles of social equality. The output will be, among other things, the combined reporting (non-financial and financial) of sorts where companies will report on the environmental and social impacts of their business on society, set partial objectives in the individual areas and monitor their performance. Specifically, this reporting addresses aspects such as environmental impacts (emissions, resource consumption...), social aspects (working environment, diversity, equal employee treatment...) and the quality of the organisational management (ethics, data protection/GDPR, including supply chains, etc...).
Our ESG solution will lead you through the process of data collection, calculation of the required data and creation of an auditable database for further analytical data processing. It will provide a workflow for collaborative output document creation, including “tagging” in line with the ESG taxonomy. It makes the ESG report production process much easier; please note that companies with over 250 employees and a turnover of over €40 million (approx. CZK 1.3 billion) will already have to include an ESG report in their 2025 annual report. The solution will ensure compliance with the obligations under the applicable CSRD, in accordance with the ESG standards. It also allows for further business use of the collected data to achieve more effective company management. The data is being continuously retrieved from the relevant data sources, and the pre-prepared ESG data model will allow you to set relevant objectives, monitor performance over time and model different scenarios of future developments.
With this solution, you will not only be able to pass ESG audits but also process ESG reports much more efficiently in the years to come. At the same time, you will obtain a quality database that will give you access to data highly valuable for business management (e.g., data on energy consumption) as well.
Unique product characteristics:
- Pre-prepared solution for the entire ESG process
- ESG data model ready to be entered with data
- Standardised ESG report production solution, which is functionally usable also for other similar reports (e.g. annual report, financial statements...)
- Platform-independent solution (Microsoft, Oracle, IBM...)
- Since 2018 (for 2017), it has been mandatory, in a certain form, for banks and investment companies (under the NFRD)
- From 2025 (for 2024), it will become, under the CSRD, mandatory for companies that reported under the NFRD
- From 2026 (for 2025), it will become, under the CSRD, mandatory for companies meeting at least 2 of the following 3 conditions:
- more than 250 employees;
- over €40 mil annual turnover;
- over €20 mil of assets. - From 2027 (for 2026), it will become mandatory for all small and medium-sized companies – the scope to be clarified during 2023
- In the estimate of consulting companies, preparations should start 2 years in advance!!!
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