The emerging revelations from the ESG100 report shed light on a pervasive issue – the noticeable chasm in company readiness for the impending European Sustainability Reporting Standards (ESRS).
The report implies that on average, firms listed under ESG100 have reported a mere 54% out of the tested 68 ESRS disclosures. Simon Taylor, senior director at Position Green, recently shared insightful takeaways from the recent assessment, accentuating a crucial need for immediate action among corporations.
The scenario in Scandinavian countries paints a relatively optimistic picture in terms of ESG disclosures. However, the evident discrepancies in these numbers indicate that companies sprawled across the rest of Europe, including the UK and the US, are on the brink of confronting substantial gaps, especially those bound to adhere to the ESRS.
With the ESRS set to roll out its regulations, effectual from January 1, 2024, the corporate sector finds itself in a race against time, necessitating swift actions to evaluate and bridge their readiness gaps, a journey that will undeniably demand both time and resources.
Position Green steps into this scenario, offering a comprehensive ESRS software solution, acting as a cornerstone for businesses embarking on their ESRS compliance journey. Employing ESG software to regulate sustainability data is deemed a sagacious start and, with Position Green’s full-cycle solution, companies can avail themselves of:
- A thorough annual Double Materiality Assessment review,
- Guaranteed disclosure templates,
- Optimal practice visualisations to monitor performance,
- Effortless integrations with financial systems,
- Centralised accumulation of mandatory data, and
- A prepared ESRS management report, primed for digital tagging, and
- Ensured preparedness for external assurance.
In an era where sustainability and compliance with global standards are becoming paramount, the alliance of comprehensive reporting solutions and actionable insights from reports like ESG100 becomes indispensable.
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