The Future of Sustainability Reporting is Digital
The European Union has a strategy of twin transition in sustainability. This means achieving the goals of corporate sustainability through digitalisation.
The new sustainability reporting leads to harmonised, comprehensive, and better-quality sustainability information across the value chains. Investors will save on requests and expenses for third-party data providers, and rating agencies will get reliable information. Reporting also works as a management system for corporate sustainability, shaping the strategy, business model, and targets for new business growth.
By using digital means, companies can save both time and money. Dr Sanna Perkiö, the founder of Ecobio, encourages companies to do so.
“Sustainability reporting must be approached with digital solutions from the beginning.”
The CSRD, EU Taxonomy Regulation, and related standards help companies develop their processes in corporate finance and sustainability. This business refinement from strategy to metrics and comprehensive transparency will require a heavy workload and considerable investment.
The companies should manage at least 80 disclosure requirements and 1100 data points. The new reporting model also causes costs during the adoption phase and an annual increase in in-house or consultancy workload. In addition, the costs of limited verification are expanding.
The best cloud software specialised in sustainability reporting, such as Ecobio Manager, provides the best help in cost savings – up to 50%.
Reporting digitally is mandatory. As a result, around 100,000 EU companies will need cloud software for sustainability reporting in the coming years. Sustainability reporting requires the contribution of a multi-professional team within a strict timeline. The team must complete double materiality assessment, data collection, Taxonomy classification, statement preparation, assurance, and publication within a strict time limit.
“Digital sustainability is our vision. We will guide you through a double materiality assessment to a sustainability statement supported by a digital approach. We’ll help you save money, ensure compliance, and grow a sustainable business. Enjoy your journey in the world of digital sustainability reporting.”, Dr Perkiö summarises.
Sanna Perkiö, D.Sc. (Tech.) Founder and President
Benefits of using CSRD software
To learn more about the benefits of a digital software for CSRD reporting, we have compiled a list of ten key points for you! You’ll be able to download the PDF below.
Download Why You Should Consider CSRD Software PDF.
