The project’s objective is to create a digital sustainability reporting tool for companies to submit ESG reports and raise awareness on sustainability topics.
The project directly contributes to the transition toward a green economy and helps create a more environmentally friendly, sustainable, and resilient business environment.
Project Summary
By 2025, the Corporate Sustainability Reporting Directive (CSRD) must be transposed into the national legislation of all EU member states. EU legislation requires certain companies to disclose information in ESG report format on how they operate and manage environmental and social challenges.
The scope applies to all large companies, companies listed on regulated markets, including SMEs included in stock exchange trading lists. It is worth noting that this affects all SMEs, as they are part of supply chains from which information is requested; sustainability reports are also requested by investors, banks, end customers, etc.—so demand is very high.
Currently, the information companies provide and publish on sustainability varies. Due to insufficiently precise current requirements and the complexity of directives and regulations, many private reporting standards and systems have emerged that are difficult to understand, and custom services are expensive.
The project implements 3 work streams:
- Development of methodology and digital tools – the sustainability reporting methodology is developed according to the EFRAG standard and its guidelines. Consultation is also conducted with several international stakeholder groups to identify best practices. Based on the methodology, a digital reporting environment has been created with references on what data to provide in order to complete an ESG report and receive recommendations on sustainability performance in various areas.
- Pilot use of the tool – pilot use helps test the tool with target groups and identify errors that need to be corrected. The pilot will be conducted in collaboration with companies in the ICT services sector.
- Dissemination of results – to reach the audience, in-person meetings with target groups, training sessions, seminars, and other green activities are organized.
The project aims to bring clarity to ESG reporting. By providing companies with tools and knowledge, they are empowered to make more sustainable executive decisions and update business models according to ESG.
This #MadeWithInterreg project helps transition to a green and resilient Baltic Sea region. The project aims to bring clarity to ESG reporting. By providing companies with tools and knowledge, they will be empowered to make more sustainable executive decisions and update business models according to ESG. To achieve this, organizations from the following countries are collaborating: Finland, Estonia, Latvia, Lithuania, and Poland.
More information about the project can be found here or on LinkedIn.