Editorial ESG News 2/2024

The current status of sustainability reporting (ESG or CSRD) is roughly summarized as follows: The European framework, the Corporate Sustainability Reporting Directive (CSRD), came into force in January 2023 and must now be transposed into national law by the EU member states by July 2024. At the end of March, the Federal Ministry of Justice published the draft bill on CSRD implementation in Germany; the government bill is still pending. However, this draft bill already provides a good overview of the scope and content of sustainability reporting and the associated audit. In terms of content, reference is made to the ESRSs (European Sustainability Reporting Standards); the ESRSs have already been published. Important for SMEs: So-called large companies will be subject to ESG reporting requirements from the 2025 financial year. So things are getting serious.

Of course, we will not leave you alone with these obligations. With our wide range of sustainability-related advisory services, we are your reliable advisory and auditing partner. In this context, we are delighted to have been named the best German auditors in the area of sustainability/ESG by Manager Magazin.​

In our current newsletter, we take a look at the implementation in our neighboring European countries. In other words, how far the ESG process has already progressed and which regulations have to be followed locally. ​ France was the first European country to transpose the CSRD into national law at the end of 2023. ​The relevance of ESG issues is also increasing significantly in Poland. But Brazil and China ​are also constantly introducing new laws and initiatives that affect you as a company on site. It is worth taking a look at the African continent with regard to financing mechanisms in the ESG context in Kenya​.  

We have also looked at the materiality analysis, which is so important for the start of sustainability reporting, with a focus on the value chain and explain the latest BGH regulations on “deceptive packaging”. Finally, we round off this rather international edition with the challenges of the Carbon Border Adjustment Mechanism (CBAM), especially in the area of importing goods outside the EU.  

 

We hope that this international edition of our ESG News has once again provided you with up to date ​know­ledge. If you would like any further information or suggestions, please do not hesitate to contact us personally. I look forward to it! ​