MANDATORY SUSTAINABILITY REPORTING

The importance of the Sustainability Report

The Sustainability Report is the main document prepared by companies to measure and communicate their ESG performance and the impact of their activities in the economic, social and environmental fields. In contrast to the annual report, the Sustainability Report is a non-financial reporting tool with the main objective of informing stakeholders about the economic, social, environmental results and corporate objectives set in the field of sustainability.

Technically, the Sustainability Report provides a clear and transparent measurement of the company’s strategy in relation to sustainable development objectives, and represents accountability to internal and external stakeholders.

The adoption of the European Sustainability Reporting Standards (ESRS) represents a significant change for companies, in line with the new regulatory framework of the Corporate Sustainability Reporting Directive (CSRD), which replaces the previous Non Financial Reporting Directive (NFRD).

EFRAG, an independent body of the European Commission, has developed the ESRS Standards, which include specific guidelines for sustainability reporting (set of cross-cutting standards) and reporting on material environmental, social and governance issues (topical standards).

The importance of making a commitment to draw up and disclose one’s own Sustainability Report is evidenced by the adoption of these new standards and the current regulatory developments.

Greenwich’s role in drawing up the Sustainability Report

Sustainability reporting is not only a regulatory obligation, but also a strategic tool to build a solid and responsible corporate identity.

Greenwich, thanks to its experience in sustainability consulting, supports companies in the drafting of structured sustainability reports, adopting a customised approach according to the product sector and company objectives. Every manufacturing or service business is unique, with specific challenges, needs and objectives.

Our flexible working method, oriented towards efficiency, transparency and a clear understanding of results, consists of the following steps:

• Preliminarily assess the level of corporate sustainability in terms of mission, principles, values and initiatives already in place;
• Carry out a benchmarking analysis against industry best practices in sustainability reporting;
• Support the Company in identifying and involving its internal and external stakeholders;
• Conduct a materiality analysis aimed at building the company’s materiality matrix;
• Identify KPIs useful for materiality reporting;
• Prepare the Sustainability Report by applying the new ESRS Standards and other major international guidelines.

Direct benefits of the Sustainability Report

• Optimisation of business processes and improvement of efficiency;
• Alignment of the sustainability report with industry standards and CSRD and NFRD regulations;
• Increased transparency in non-financial reporting;
• Improved risk management and identification of opportunities for sustainable growth;
• Strengthened corporate reputation and brand loyalty;
• Improved ability to demonstrate the added value of the organisation in the context of corporate sustainability.

Drawing up an effective Sustainability Report is today a must for companies that want to be competitive and responsible in the global market.