Environment, Social, Governance matters in business

Reporting Standards

NFRD with NaDiVeG (past, but still applicable)
ESRS standard with implementation of CSRD
- CSRD is just saying: “you have to comply with ESRS”
- transposition in Austria: NaBeG (pending)
- Omnibus is changing ESRS again
EU Taxonomy Regulation for financial sector
CSDDD → EU parlament 23rd of April 2024
- not yet transposed in Austria
GRI → Global Reporting Initiative
- for voluntary use
- now collaborating with IAASB
SDGs
SFDR
ISSB Standards → IAASB and IAS

Why?

a standardized auditors opinion would be very helpful
who is this for?
- society → society wants to know who is damaging the environment or at least is not helping
- investors → moral reasons and assessing impact of climate change for future
  - e.g. do your workers in Bangladesh have good working conditions?
    - maybe also “will there be negative press in future about bad working conditions in Bangladesh”
  - e.g. will your production plant suffer from flooding?
most suppliers of companies have no clue about emissions → challenging, now required
more difficult for inherently not green industries (e.g. oil and gas)