Companies affected by the new EU legislation can benefit from First Climate Consulting’s sustainability reporting services
The CSRD (Corporate Sustainability Reporting Directive) creates new reporting obligations for companies; for the EU Taxonomy, these obligations are already compulsory for the first group of companies. Now, the deadline for the second wave of large companies (corporates with more than 250 employees and / or a net turnover of 50+M or a balance sheet total of 25+M) looms on the horizon. To help companies meet the CSRD and Taxonomy challenge, First Climate offers solutions for both pillars of the Green Deal legislation: Individualized consulting services for CSRD reporting, and a combined consulting and software solution with partner VIRIDAD for the EU Taxonomy.
Designed to measure a company's sustainability performance in accordance with ESRS (European Sustainability Reporting Standards), the multifaceted and comprehensive CSRD requires companies to gather and disclose relevant data on sustainability topics such as climate change, biodiversity, circular economy, and water resources— a major challenge for many corporates. First Climate’s new consulting services meet this CSRD need with capacity-building workshops on sustainability statements, double materiality asessments, and a comprehensive consulting offer on ESRS E1.
“The CSRD is not just one more thing for companies to check off at the end of the year, but a critical opportunity for companies to understand their sustainability performance at a deeper level. However, gathering and handling all relevant data in a compliant way can also pose a major challenge. First Climate can help companies build a concise reporting strategy to plan a way forward for reporting obligations. With our expertise in the climate change and Taxonomy sectors, First Climate is also ready to provide turnkey solutions in these sectors of the CSRD,”
explains Sid Petersen, Managing Director of First Climate Consulting GmbH.
Combining Software and Consulting for the EU Taxonomy
For the EU-Taxonomy, First Climate partners with VIRIDAD, a Vienna-based start-up and part of the First Climate family, to include their EU Taxonomy reporting software for a streamlined and comprehensive reporting service.
The VIRIDAD software automatically creates reports for the EU Taxonomy and includes features to simplify the sustainability evaluation and reporting process. Much like with the CSRD solution, the First Climate consulting facet of the EU Taxonomy solution ensures that companies get the most out of their EU Taxonomy reporting. Companies will be able to understand reporting requirements, develop effective strategies accordingly and use this knowledge to measure improvements for their sustainability efforts in their economic activities.
“With our software and First Climate’s consulting expertise, the entire EU Taxonomy reporting process is streamlined. This unique approach gives companies the report they need and an understanding of what that report means for their business. It also increases efficiency, helping them save time and money,”
says Dr. Klemens Marx, CEO and co-founder of VIRIDAD.
The CSRD and EU Taxonomy deadlines might seem far off now. However, both have a major impact on internal processes and risk management systems, and the urgency of implementation should not be underestimated. First Climate experts recommend companies to start becoming familiar with the CSRD and to start planning their CSRD and EU Taxonomy strategy now to be best prepared.
Learn more about the CSRD and EU Taxonomy here.
Or contact our sustainability reporting experts at impact@firstclimate.com.
