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Sustainability reporting

Sustainability reporting

Sustainability reporting is already legally required for some companies. From the financial year 2024, reporting must be carried out in accordance with the Corporate Sustainability Reporting Directive (CSRD) and have to be done by more companies.

Sustainability reporting is already legally required for some companies; in addition, numerous companies report voluntarily in order to position themselves accordingly on the market. The scope of a sustainability report depends on the reporting standard used. The report includes, for example, the business strategy, internal guidelines, and processes related to sustainability. In addition, specific sustainability targets, KPIs, as well as processes in the company’s risk management are depicted.

Sustainability reporting in Austria

From regulatory perspective, there is the EU Non-Financial Reporting Directive (NFRD), which has been implemented in Austria in the “Nachhaltigkeits- und Diversitätsverbesserungsgesetz” (NaDiVeG). It is applicable to large corporations with more than 500 employees, that are corporations of public interest since the financial year 2017.

Sustainability reporting in 2024

From the financial year 2024, reporting must be carried out in accordance with the Corporate Sustainability Reporting Directive (CSRD). The CSRD affects much more companies and entails a significant expansion of the scope of reporting compared to the NFRD.

The European Financial Reporting Advisory Group (EFRAG) was instructed by the Commission to develop uniform sustainability reporting standards that are mandatory under the CSRD. Final drafts of these European Sustainability Reporting Standards (ESRS) are already available and sector-specific and SME-related standards will follow. Depending on certain company parameters, there are differences in when a company has to report for the first time. 

On a voluntary basis, globally acknowledged reporting standards, in particular the GRI standards, can be used for sustainability reporting. Writing the first sustainability report can require a significant amount of time and resources due to the necessary implementation of systems and processes for ESG data collection and recording. It is therefore advisable to start the implementation in time.

In regard to ESG Sustainability reporting, we can provide support with

  • Advice on the selection of an appropriate reporting standard (GRI, CSRD/ESRS)
  • Analysis of the company’s value chain regarding ESG-relevant topics 
  • Selection of relevant stakeholders
  • Preparing and conducting materiality assessments
  • Determination of structure & core messages (based on corporate strategy)
  • Support in data collection according to selected standard and definition of KPIs
  • Writing the report
  • Conformity check of your report according to the chosen standard

Contact our experts

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