Wednesday, May 1st, 2024
As global emphasis on sustainable practices intensifies, the introduction of the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) is transforming the landscape of corporate accountability in Europe. Shasat Consulting is spearheading initiatives to guide companies through these new regulatory frameworks with its expertly designed training programs.
Effective from January 2023, the CSRD extends the scope of previous EU mandates to enhance transparency and accountability in corporate reporting. This directive now requires a broader range of companies, including all large companies and listed SMEs, to disclose comprehensive information on their environmental and social impacts. This aims to provide stakeholders with detailed insights into a company’s sustainability practices and their effects on society and the environment. Notably, the directive also encompasses non-EU companies generating significant revenue within the EU market (Finance).
Launched in July 2023, the ESRS provide a cohesive framework intended to standardize sustainability reporting across the EU. These standards encompass a wide array of ESG topics, including climate change, biodiversity, and human rights, ensuring comprehensive coverage. The ESRS are designed to align with global reporting standards to facilitate interoperability and reduce redundant reporting efforts for companies. This alignment supports the EU’s broader green agenda, promoting transparency and enabling access to sustainable finance (Finance) (Finance).
In anticipation of these changes, Shasat Consulting has developed a comprehensive two-day workshop titled “ESG Disclosures Masterclass”. This program equips businesses with the necessary tools to understand and implement the requirements of both the CSRD and the ESRS effectively. The workshop is part of a broader effort to integrate sustainable practices into core business strategies across Europe.
Shasat’s training sessions are available in multiple cities worldwide, offering an opportunity for companies to gain insights not only into CSRD and ESRS but also into other international standards issued by bodies such as ISSB, IPSASB, and the SEC. These sessions play a crucial role in preparing global businesses for the upcoming changes and ensuring they remain at the forefront of sustainability practices.
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The adoption of the CSRD and the implementation of the ESRS are monumental steps towards achieving a sustainable European economy. Through educational programs like those offered by Shasat, companies are not just complying with new regulations; they are advancing towards a future where sustainability is embedded in the core of business operations. As companies globally strive to align with these standards, understanding and implementing these directives is not just about regulatory compliance—it’s about leading in the global movement towards sustainability.
