Our service offering includes comprehensive advice in ESG implementation and reporting.
ESG, in simple words, means managing a company in a socially responsible way, ensuring sustainable development through implementing rules, regulations and long-term goals set for the environment (E), social affairs (S) and organizational governance (G).
ESG factors are becoming increasingly important in companies and investment evaluation, and stakeholders are placing more emphasis on companies' attitudes towards environmental, social and governance issues. They also have a real impact on business, as they often become a criterion based on which investors and customers make their decisions, and financial institutions provide financing. Therefore, stakeholders expect consistent and reliable data by which they will be able to assess the company in terms of ESG.
There is no doubt that sustainable operations can be an opportunity for an enterprise and bring specific benefits, such as easier access to more favorable financing, real savings through effective management of ESG areas and an increase in revenues, e.g. through appropriate management of customer relationships. Defining important areas, implementing an appropriate strategy in the ESG area, defining key indicators and methods of monitoring the implementation of a specific strategy, allocating roles and responsibilities to management and staff, adapting processes and collecting reliable and complete data regarding ESG impact - these are just some of the tasks that should be considered when implementing ESG in organization. Additional task will concern implementation of non-financial reporting processes, which will apply to an increasing number of entities after CSRD (Corporate Sustainability Reporting Directive) was enforced. A properly prepared report on non-financial information should transparently and completely present the impact of the company's activities on the environment, social issues and compliance with the principles of organizational governance.
The implementation of the regulatory package covering sustainable development imposed new obligations on financial market participants and enterprises regarding the disclosure of non-financial information in ESG areas that will affect the operating model and results of a given business. It is estimated that by 2025, approximately 3,500 entities in Poland will be subject to the reporting obligation. Moreover, entities which cooperate with the reporting companies within the supply chain will also be indirectly subject to the information obligation.
As part of our consulting activities, we provide substantive support in implementing ESG-related strategies and processes. As an independent auditor, we are getting prepared to provide non-financial information attestation services, to be ready with comprehensive service offering, when regulatory requirements and audit standards are established.
