Sustainability Reporting

On our website and from our partners you will find detailed information on how you can ideally prepare your company for the CSRD and the introduction of further sustainability standards.

Under Studies, we offer a variety of basic texts, practical information and compact articles on the legal requirements and the progress of the transformation in NRW. 

The action guide from the IHK Munich and IZU as well as our summary offer you clear and practical instructions on how to successfully establish the CSRD reporting process in your company. You will also receive information on the background and implications of CSRD.

Summary of the action guide Guidance from the IHK Munich on CSRD Webinar - Sustainability reporting Basics No. 2 - What does the CSRD require?

Analyze supply chains, identify risks: The CSR Risk Check provides companies with a quick overview of human rights and environmental risks along their supply chain - differentiated by country and sector.

Guidance on standards and funding: The COMPASS Sustainability helps companies to find suitable sustainability standards, funding programs and contacts - simply, practically and free of charge.

Would you like to learn more about the details of sustainability reporting or train your employees specifically in this area?

The IHK NRW offers you a wide range of seminars and certificate courses on the topics of sustainability and mobility. Discover the current range here.

You can also find examples of public CSRD reports on the Sustainability Reporting Navigator Platform. 

A separate ecosystem of digital solutions has already developed for efficient and successful sustainability reporting, which relieves the burden on companies - especially SMEs. Companies that make use of the synergies from the twin transformation of digitalization and decarbonization can implement sustainable change more quickly and thus set themselves apart from their competitors. Here you will find an overview of the central tools, platforms and software solutions. 

The best software solutions for carbon accounting, ESG reporting and supply chain management: study from it's OWL project offers a special overview

• With increasing regulatory requirements and a growing awareness of sustainability, the pressure on companies to transparently document their environmental and social responsibility is growing. At the same time, there are many software solutions that are designed to provide support in this area. But which of these tools really offer added value and fit the individual needs of companies?

• As part of the it's OWL project 'Strategic Management of Dual Transformation (DualStrat)', a comprehensive market analysis of software solutions for carbon accounting, ESG reporting and supply chain management was carried out. The study evaluates the tools according to various criteria in detailed profiles. Each profile includes a brief description, key facts and a list of reference customers who already use the tool. This allows companies to quickly and easily compare the available solutions with their own requirements.

   ESRS data management tool

• The ESRS data management tool was developed as part of the it's OWL project 'Strategic Management of Dual Transformation (DualStrat)'. It supports companies in implementing the Corporate Sustainability Reporting Directive (CSRD). The aim is to simplify the aggregation and management of the required sustainability data. To this end, it offers an appealing and clear presentation of the European Sustainability Reporting Standards (ESRS) to guide you through the regulation like a red thread. The tool covers the general information of ESRS 2 including minimum disclosure requirements as well as all topic-related standards. In addition, it provides a clear translation as well as numerous implementation notes and word definitions to put the complicated standards into a manageable format suitable for everyday use.

    it's OWL innovation platform

• The it's OWL innovation platform offers you free access to advanced solutions from numerous development projects by hidden champions and established SMEs. These technologies and applications support you in actively driving forward both the digital transformation and the sustainability transformation.

Sustainability is understood as the endeavor to preserve the natural foundations of life for present and future generations. In a business context, this means taking economic, ecological and social goals (the so-called “sustainability triangle”) into equal consideration in order to act responsibly in the long term.

A large number of companies in NRW have already committed themselves to these sustainability goals, for example in the corporate network Climate Protection or the network “Sustainable in North Rhine-Westphalia”. 

Environment, Social, Governance (ESG) is the English term for these three pillars (environment, social and corporate governance). In Germany, ESG aspects have become increasingly important in recent years, particularly in the banking sector and among investors who are concerned with the transformation of our financial and economic system as part of the sustainable finance agenda. Companies are often the focus of ESG ratings and rankings as well as corresponding questionnaires, for example from banks, lenders or investors.

The EU taxonomy defines which business activities are sustainable in an ecological sense. Legally, it is a regulation of the European Parliament. It serves as a point of reference for the financial sector in particular: What is sustainable business activity? What is not? Investors and banks, which in turn have to meet sustainability requirements, are guided by this when selecting their partners. The taxonomy specifies six environmental goals for companies:

1. Climate protection
2. Adaptation to climate change
3. Sustainable use of water resources
4. Transition to a circular economy
5. Prevention of pollution and
6. Protection of ecosystems and biodiversity.

How companies can benefit from the EU taxonomy

If a company can demonstrate that it is aligned with the EU's environmental objectives ...

... it strengthens the trust of stakeholders.

... new financing opportunities arise with banks, which also have to comply with regulations and document their sustainability efforts.

... the company is interesting for cooperation with other companies subject to reporting requirements. This is because larger companies also require smaller partners to be able to demonstrate what they are doing in terms of sustainability. 

Fin.Connect.NRW focuses on the following topics and objectives in the complex, in parts over-regulated initial and mixed situation:

• Understanding the opportunities and obstacles of sustainability reporting and sustainable business models and reducing the associated complexity through understandable language.
• Explaining and communicating recognized reporting standards and making them usable for investments
• Contribute to simplification and reduction of bureaucracy where possible, e.g. through mutual acceptance of reports or figures, data and assessments

• Prepare knowledge in a practice-oriented manner; strengthen dialog between banks, companies (especially SMEs) and external consulting institutions
• Understand industry specifics and present corresponding solutions
• Identify typical and individual roadmaps for companies (investment requirements) and clarify specific financing of business models
• Identify efficient and cost-minimizing options for SMEs or companies not subject to reporting requirements if they still need to prepare sustainability data and targets. Clarify and use AI in sustainability reporting (machine-readable reports, automated preparation, etc.)