Sustainserv Launches Novel Workshop and Certification to Help Companies Navigate New European Union Sustainability Standards
July 09 2024 - 8:30AM
Business Wire
The workshop will include an opportunity for an
in-depth session with two of the architects of the recently enacted
ESRS/CSRD sustainability standards and reporting directives.
Sustainserv, a global management consulting
firm that assists clients in developing and executing on their
environmental, social and governance (ESG) strategies and programs,
today announced an innovative collaboration with two of the
architects behind the recently implemented European Union
sustainability disclosure requirements. As part of the partnership,
Sustainserv will now offer an in-depth workshop and certification
program that will feature Prof. Dr. Alexander Bassen and Prof. Dr.
Kerstin Lopatta, who are both affiliated with the University of
Hamburg and led the development of the ruleset behind the Corporate
Sustainability Reporting Directive (CSRD), the European
Sustainability Reporting Standards (ESRS).
“The climate reporting and regulatory space is rapidly evolving,
so we believe this partnership with Dr. Bassen and Dr. Lopatta, who
literally wrote the book on ESRS, will represent a timely offering
for our clients,” said Dr. Matthew Gardner, Managing Partner for
Sustainserv. “The reality is companies need to keep their ear to
the ground and make quick decisions about how much, where, and when
to invest in complying with regulatory requirements. This workshop
and certification course will provide a deeper understanding of the
ESRS/CSRD sustainability standards for companies of all sizes, so
they can meet their commitments to climate change mitigation and
build a clearer picture of the risks and opportunities across their
global value chains.”
In the European Union, the Corporate Sustainability Reporting
Directive (CSRD) is a new set of requirements for companies to
assess and disclose various environmental and social risks. Similar
to new reporting rules introduced in California last year, the CSRD
requires these disclosures not just from EU-domiciled firms, but
also any firm doing business within the EU above a certain
threshold. The CSRD and the underlying ruleset, the European
Sustainability Reporting Standards (ESRS), have strict
sustainability disclosure requirements for compliance. For example,
the ESRS mandates that companies adopt a “double materiality”
perspective, meaning it requires companies to report both on their
impacts on people and the environment, and on how social and
environmental issues create financial risks and opportunities for
the company.
“We are seeing first-hand how many U.S.-based companies are
being impacted by these regulatory actions, and now confronting
these new requirements because of their business activity in
Europe,” added Dr. Gardner. “Since most large to even mid-size U.S.
companies participate in global supply chains, it is essential that
they come up to speed quickly on the implications of these rules
and take the first steps to come into compliance. That is why this
new offering, and the accompanying tools and processes we have
developed will be so valuable.”
“We welcome the opportunity to offer these workshops to firms
from the U.S., the European Union and other countries. These rules
are complicated but are an important step towards companies
providing investor-grade information about their ESG efforts, the
risks and opportunities they face, and how they are intending to
respond to the global challenges we all face,” said Dr. Lopatta.
“With a partner such as Sustainserv, we can bring our perspectives
to global companies, and offer our insights to help give them
practical, actionable guidance and increase their confidence in
their compliance efforts,” added Dr. Bassen.
The CSRD and the underlying ruleset, the European Sustainability
Reporting Standards (ESRS), has strict sustainability disclosure
requirements for compliance. For example, the ESRS mandates that
companies adopt a “double materiality” perspective, meaning it
requires companies to report both on their impacts on people and
the environment, and on how social and environmental issues create
financial risks and opportunities for the company. As many
companies and organizations participate in global supply chains, it
is essential that they come up to speed quickly on the implications
of these rules and take the first steps to come into
compliance.
About Sustainserv Sustainserv is a global
management consulting firm helping companies integrate
sustainability considerations into long-term strategies, everyday
operations, and communications. Sustainserv holistically approaches
sustainability practices, generating value for companies, the
environment, and society, working towards a world in which
sustainable performance is the norm. Our approach aims to inspire
meaningful change in the world every day. To learn more, visit
https://sustainserv.com/en/ or follow us on LinkedIn.
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Media: Travis Small Slowey McManus Communications
tsmall@sloweymcmanus.com (617) 538-9041