If your company is an SME, then this might be relevant for you:
EFRAG has published a draft of a voluntary ESRS for small and medium-sized enterprises.
The goal of the initiative is to support SMEs to:
- Improve the management of sustainability issues and increase resilience in the short, medium, and long term.
- Provide information that helps meet the data demands of large companies that require sustainability information from suppliers, as well as the data demands of lenders and investors, and to facilitate access to finance.
- Contribute to a more sustainable and inclusive economy.
The (draft) SME ESRS standard is divided into 3 modules:
- Basic Module (this module is a prerequisite for reporting on the other modules)
– E: information on energy, pollution, biodiversity, water, resource use and circular economy
– S: information on general characteristics of workforce, health & safety, remuneration, collective bargaining & training
– G: information on corruption and bribery - Narrative – PAT Module
– Requires a Double Materiality Assessment.
– Understanding and disclosure on strategy, business model, and key stakeholders.
– Develop relevant policies, actions, and targets. - Business Partner Module
– Requires a Double Materiality Assessment.
– Report on additional datapoints needed by business partners, investors and lenders.
At Primdal, we can support your micro-, small-, or medium-sized business in deciding which of the 3 modules best fits your organization’s needs. Whether it is conducting a double materiality assessment, developing accounting practices and ESG data collection procedures, or assisting in the development of policies, actions, or targets covering the material ESG issues for your business, we are here to help!