Since the 2017 financial year, large, capital market-oriented companies in the EU have been required by the Non-Financial Reporting Directive (NFRD) to submit an annual non-financial statement. In Germany, this is implemented by the CSR Directive Implementation Act.
In April 2021, the EU presented a draft revision of the NFRD to extend the reporting obligation as part of the "EU Sustainable Finance April 2021 package" - a measure of the EU Green Deal. If the EU Commission's proposal for the Corporate Sustainability Reporting Directive (CSRD) is implemented in national law, all large companies with more than 250 employees and total assets of more than 20 million Euro or sales of more than 40 million Euro would be affected, regardless of capital market orientation. This would increase the number of affected companies in Germany by a factor of approximately twenty. The content to be reported will also be significantly expanded and the qualitative requirements will increase.
In addition, the EU Sustainable Finance Taxonomy will result in extended reporting requirements for companies from 2022. Furthermore, the Non-Financial Reporting Directive is currently under review. This process is also very likely to result in new requirements. Due to the strong focus on the topic of "climate", voluntary climate-relevant reporting formats, such as the CDP or the requirements of the Taskforce on Climate-related Financial Disclosures (TCFD), can be very helpful in implementing the obligations.
FutureCamp supports you in the following tasks:
- Identifying and meeting regulatory requirements
- Development of sustainability strategies with derivation of targets, key figures and measures
- Organizational anchoring of sustainability
- Preparation of sustainability reports according to common standards (e.g. Global Reporting Initiative - GRI SRS, German Sustainability Code - DNK) and support of upstream processes such as
- Stakeholder participation
- Materiality analyses (also taking into account the United Nations Sustainable Development Goals, SDGs)
- Defining key performance indicators, data queries
- Introduction of a CSR management system
- Coordinating external service providers e.g. communication agencies, translators
- Support in audit processes
- Participating in common sustainability assessments such as ISS-ESG.
- Preparing and conducting supplier assessments and audits, e.g. EcoVadis, NQC.
FutureCamp is an official training partner for the German Sustainability Code and regularly holds events in this context.
In order to live up to our own sustainability standards and also to report transparently on progress and potential for improvement, we have regularly published a declaration of conformity with the German Sustainability Code (DNK) since 2016. Accordingly, our declaration for the 2020 reporting year can be viewed publicly on the DNK website following its review by the DNK office.
"Through CSR Reporting, you have already gained experience with the GRI standards or the DNK and established processes for reporting in your company. You have thus initiated a continuous improvement process in the direction of sustainability. In addition, you have deepened the knowledge of your own value chain and thus obtained important information on where potential risks for your company might lie. Now it is time to take another step on the way to an integrated sustainability strategy. Use the positive effects of your structured sustainability reporting and any synergies that may have arisen to give your company a head start and make it fit for the future."
Hannah Powarcinsky has been advising private-sector companies ranging from DAX-listed corporations to SMEs as well as public-sector clients for FutureCamp since 2011. As Head of Sustainability Services, she is primarily responsible for the business unit "Sustainability". As an experienced project manager, she has extensive experience in the fields of sustainability strategy and reporting, climate strategy, carbon footprinting and climate neutrality. This also includes the content design and implementation of workshops and training courses in the aforementioned areas.
Highlight-Projekt:
Covestro
FutureCamp has supported Covestro since 2016 in its annual sustainability reporting in accordance with GRI standards, its successful participation in CDP, and the preparation of its first comprehensive TCFD report.
"FutureCamp provided us with very competent support. Ms. Gruß and your team worked intensively on our content and provided valuable advice that contributed to a substantial improvement of our sustainability reporting."
Vice President Corporate Sustainability of Covestro, Dr. Bischof