This is how ESG reporting is made easier – to meet the new EU requirements
Updated: June 10, 2024, 09:51Published: 27 maj 2024, 10:37
Isabel Carendi, ESG Content Manager at DIB.
The knowledge company Dib has recently launched an aid for sustainability reporting which, among other things, makes it easier to meet the EU directive CSRD. The reactions have been very positive.
– It is clear that the companies have a great need for guidance in how they should work with ESG reporting, says Isabel Carendi at Dib.
The EU has adopted a new regulation on sustainability reporting that aims to increase the transparency and standardization of companies’ reporting on sustainability issues. The new regulation is called the Corporate Sustainability Reporting Directive, or CSRD.
The report itself must contain all the information needed to be able to understand the consequences of the company’s operations and how it affects its surroundings. In the standards that must be followed, there are extensive requirements for information that must be provided.
The regulation is extensive and often difficult to interpret, and it may require a lot of time or the help of experts to understand which measures must be taken.
Dib’s ESG solution is cloud-based
The solution from Dib is a cloud-based information database where everything needed for ESG reporting is gathered in one place. There are also clear checklists here so that you can maintain good compliance with the regulations by checking off the disclosure requirements point by point.
– Everything is so new that there is a lack of practice. We have our own in-house expertise but also collaborate with a number of leading experts. When the CSRD has been in effect for some time, there will be both changes and expert opinions linked to the standards, says Isabel Carendi.
The database is kept up to date with new standards, relevant regulations and subject articles that clarify and illustrate the use of ESG in practice.
– There are practical search functions here. The checklists are interactive and make work more efficient and minimize the risk of mistakes, she says.
The aid, which was recently launched simultaneously in Sweden, Norway and Denmark, has been well received.
– The users see great value in the fact that all information is gathered on one platform, and that they can trust that the content is updated, she says.
High time to develop your ESG work
Initially, the idea was that the service would be used by the finance function of larger companies and those who work directly with sustainability reporting. Some time after the launch, it is clear that other departments in the companies, such as HR managers and others who in one way or another work with sustainability issues, are in need of the tool, and also in medium-sized and small companies.
CSRD will be implemented in Swedish law in July 2024 and the requirements will gradually come into force for companies depending on net turnover, total assets and number of employees. The largest companies will report for the first time in 2025.
About Dib Knowledge
DIB stands for Intelligent Library. The company was founded in Norway in the mid-1990s, where it currently has a significant market share. In 2022, they entered the Swedish market. Today, there are around 50 employees in Norway, Sweden and Denmark.
Read more at: www.dib.se
The article is produced by Brand Studio in collaboration with Dib Kunnskap and not an article by Dagens industri