“Our role is also to educate customers and the market. We understand sustainable development as a combination of four key concepts: impact, economy, relationship and transformation. Each organization is responsible for its impact on the economic, social and environmental environment. The way it manages and communicates this influence can make a significant difference to its value and reputation."
- emphasizes Irena Pichola Partner, Leader of the Sustainability Consulting Central Europe Deloitte team.
How to prepare your organization for the implementation of ESG reporting
On 18 January 2022, Batch 1 working papers on the European Sustainability Reporting Standards were published by the European Commission’s task force to complement the Corporate Sustainability Reporting Directive.
Can reporting help in fighting climate change?
2021 ended with some major developments in the EU taxonomy and sustainability reporting. In November, the International Council for Sustainable Development Standards (ISSB) was established to set global standards for sustainable development reporting. And on December 9, the European Council approved the long-awaited EU delegated act on the first two Taxonomy objectives, confirming the adoption of technical screening criteria for actions that significantly contribute to mitigation and adaptation to climate change. This is a significant achievement and a key milestone in the EU's sustainable finance agenda. It establishes a common language for investors, companies and other stakeholders.
2021 ends with some major developments in the EU taxonomy and sustainability reporting. Read articles and analysis on the most important issues related to sustainability, climate and ESG factors in the Sustainability Insights newsletter.
New climate commitments
What did the COP26 summit in Glasgow bring?
After two weeks of negotiations at COP26, a new international agreement on climate change was signed: the Glasgow Climate Pact. The new document does not replace the groundbreaking Paris Agreement, but rather complements it and clarifies some key points. And while it is the first ever climate agreement that explicitly mentions a reduction in carbon emissions, many experts say it is not radical enough to meet the goals and prevent a climate catastrophe.
At COP26, a new international agreement on climate change was signed: the Glasgow Climate Pact. It is the first ever climate agreement that explicitly mentions a reduction in carbon emissions. Read Sustainability Insights Newsletter to get know more.
Growing climate commitments and investments in ESG factors
How to comply with new regulations and the expectations of stakeholders
July this year was the hottest month ever recorded in the world, the US National Oceanic and Atmospheric Administration (NOAA) reported in a study on the climate crisis. Combined land and ocean surface temperatures were 0.93 ° C above the last century's average. This is the highest result in 142 years, i.e. since the start of keeping records! The IPCC report, published a little earlier, emphasized that dangerous climate effects are occurring earlier than predicted and we have less time to prevent dramatic consequences.
In the latest newsletter about the latest climate reports, a regulatory update and invitations to attend Deloitte fall events and read our latest ESG publications.
Key regulations in the area of sustainable development
Expectations for transparent ESG data reporting are growing
More and more companies are now facing the need to formalize green transformation efforts and integrate them into their business strategy, improve communication and increase transparency. Expectations for consistent, comparable and transparent information on climate and other environmental, social and corporate governance (ESG) information are growing steadily - driven by investor pressure, stakeholder pressure and, increasingly, regulatory action.
Regulatory changes are gaining momentum, both the number of regulations and the complexity of requirements to be met by the organization are increasing. In this newsletter and we direct you to materials that discuss the most important of these regulations.