The workshop will include an opportunity for an in-depth session with two of the architects of the recently enacted ESRS/CSRD sustainability standards and reporting directives.
BOSTON & ZURICH & FRANKFURT, Germany, July 09, 2024–(BUSINESS WIRE)–Sustainserv, a global management consulting firm that assists clients in developing and executing on their environmental, social and governance (ESG) strategies and programs, today announced an innovative collaboration with two of the architects behind the recently implemented European Union sustainability disclosure requirements. As part of the partnership, Sustainserv will now offer an in-depth workshop and certification program that will feature Prof. Dr. Alexander Bassen and Prof. Dr. Kerstin Lopatta, who are both affiliated with the University of Hamburg and led the development of the ruleset behind the Corporate Sustainability Reporting Directive (CSRD), the European Sustainability Reporting Standards (ESRS).
“The climate reporting and regulatory space is rapidly evolving, so we believe this partnership with Dr. Bassen and Dr. Lopatta, who literally wrote the book on ESRS, will represent a timely offering for our clients,” said Dr. Matthew Gardner, Managing Partner for Sustainserv. “The reality is companies need to keep their ear to the ground and make quick decisions about how much, where, and when to invest in complying with regulatory requirements. This workshop and certification course will provide a deeper understanding of the ESRS/CSRD sustainability standards for companies of all sizes, so they can meet their commitments to climate change mitigation and build a clearer picture of the risks and opportunities across their global value chains.”
In the European Union, the Corporate Sustainability Reporting Directive (CSRD) is a new set of requirements for companies to assess and disclose various environmental and social risks. Similar to new reporting rules introduced in California last year, the CSRD requires these disclosures not just from EU-domiciled firms, but also any firm doing business within the EU above a certain threshold. The CSRD and the underlying ruleset, the European Sustainability Reporting Standards (ESRS), have strict sustainability disclosure requirements for compliance. For example, the ESRS mandates that companies adopt a “double materiality” perspective, meaning it requires companies to report both on their impacts on people and the environment, and on how social and environmental issues create financial risks and opportunities for the company.
“We are seeing first-hand how many U.S.-based companies are being impacted by these regulatory actions, and now confronting these new requirements because of their business activity in Europe,” added Dr. Gardner. “Since most large to even mid-size U.S. companies participate in global supply chains, it is essential that they come up to speed quickly on the implications of these rules and take the first steps to come into compliance. That is why this new offering, and the accompanying tools and processes we have developed will be so valuable.”
“We welcome the opportunity to offer these workshops to firms from the U.S., the European Union and other countries. These rules are complicated but are an important step towards companies providing investor-grade information about their ESG efforts, the risks and opportunities they face, and how they are intending to respond to the global challenges we all face,” said Dr. Lopatta. “With a partner such as Sustainserv, we can bring our perspectives to global companies, and offer our insights to help give them practical, actionable guidance and increase their confidence in their compliance efforts,” added Dr. Bassen.
The CSRD and the underlying ruleset, the European Sustainability Reporting Standards (ESRS), has strict sustainability disclosure requirements for compliance. For example, the ESRS mandates that companies adopt a “double materiality” perspective, meaning it requires companies to report both on their impacts on people and the environment, and on how social and environmental issues create financial risks and opportunities for the company. As many companies and organizations participate in global supply chains, it is essential that they come up to speed quickly on the implications of these rules and take the first steps to come into compliance.
About Sustainserv
Sustainserv is a global management consulting firm helping companies integrate sustainability considerations into long-term strategies, everyday operations, and communications. Sustainserv holistically approaches sustainability practices, generating value for companies, the environment, and society, working towards a world in which sustainable performance is the norm. Our approach aims to inspire meaningful change in the world every day. To learn more, visit https://sustainserv.com/en/ or follow us on LinkedIn.
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