ESG Reporting. The key to sustainability

ESG Reporting. The key to sustainability

Every year companies report on their financial performance, but with the rise of sustainability and new obligations from the Corporate Sustainability Reporting Directive (CSRD), the playing field is expanding. In addition to financial data, companies must now include non-financial information in their annual report through ESG reporting. But what exactly does this entail and how can Peacock help you do this?

What is an ESG Report?

ESG stands for Environment, Social, and Governance. ESG reporting provides insight into how sustainably a company operates, what impact its operations have on the environment, and how it deals with social and governance issues. This goes beyond a simple listing of green initiatives; it requires in-depth analysis and reporting of the company's sustainability strategies, goals and results.

Why is ESG Reporting Important?

The CSRD, part of the European Green Deal, commits companies to ESG reporting with the goal of making Europe climate neutral by 2050. This is not just about tackling climate change, but also about creating a sustainable and inclusive economy where everyone has equal opportunities. For companies, this means not only meeting legal obligations, but also building trust with clients and investors through transparency about their sustainability performance.

Who is required to make an ESG Report?

The ESG reporting requirement is being phased in:

• As of fiscal year 2024: Companies subject to the Non-Financial Reporting Directive (NFRD).
• From fiscal year 2025: Large companies that were not covered by the NFRD. These are companies with more than 250 employees, sales of more than €50 million per year, or a balance sheet total of more than €25 million.
• From fiscal year 2026: Listed SMEs.
• From fiscal year 2028: Non-EU companies with consolidated sales of more than €150 million in the EU.

Who controls the ESG Report?

Upon completion, ESG reporting is audited by an external, approved auditor, such as your accountant. This ensures the independence and reliability of the reported data.

How Peacock helps with ESG Reporting

Peacock offers advanced software solutions that help companies in a variety of industries gain insight into their entire business operations. Although we are not sustainability experts, our technology ensures that essential information for ESG reporting is easy to collect and analyze. An ERP system plays a crucial role here, as it contains much of the necessary data. However, ESG data also comes from other systems within an organization, such as HR and logistics software.

Our BI solutions, based on the Microsoft platform, integrate seamlessly with other Microsoft solutions such as Dynamics 365 Finance & Operations, Business Central, and Power Apps. As a result, data is collected from primary systems through the Peacock Data Warehouse (or an existing data warehouse), and prepared for ESG reporting.

Get started today with your ESG Reporting

Don't know where to start? Contact Peacock for more information and find out how we can support you in preparing a comprehensive and reliable ESG report.