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ESG Solutions

Global climate change is just one of many effects of a changing world. Famine, pollution of the oceans, child labor and scarcity of raw materials are also among the sad truths of our time. Only a concerted effort by global politics, business and society can adequately address these challenges. The Paris Agreement on Climate Protection and the Sustainable Development Goals (SDGs) that emerged from it play a central role in this.

Sustainable, responsible, corporate action and economic activity – these factors reflect the focus of society's expectations of companies – and determine their long-term success today and in the future. The central questions here: What impact does the company's business have on the environment and society? How does sustainability influence the business model? What sustainable financing options are available?

Stand-alone financial figures and rigid facts are no longer sufficient to maintain the interest and trust of stakeholders. A transparent, non-financial reporting is required, which demonstrates that companies are aware of the environmental and social impacts of their business activities and take responsibility. Capital market-oriented companies already have to publish this information in a non-financial (group) statement in accordance with German Law (Section 289b and Section 315b of the German Commercial Code (HGB)). With increasing importance and growing interest of society, there are considerations to extend the obligated circle of users. However, even companies that are not required to publish a non-financial statement can derive strategic and economic benefits from an increased focus on sustainability.

Your challenges

The challenges are as complex as the topic of sustainability as a whole: It does not only concern compliance or corporate strategy; rather, coordinated interaction between the areas is required to achieve the desired goal.

Sustainability is a cross-cutting issue that affects the entire company. The various aspects of sustainability must be analyzed in full, as they are essential for a long-term and sustainable corporate strategy. ESG factors are becoming increasingly important not only for investors, but also for lenders. Furthermore, legal requirements are constantly being expanded. Data collection and validation in this area is generally not standardized and regularly presents companies with very significant challenges. In order to bring the social, ecological and economic factors into a context, overarching processes must be established and ESG risks must in turn be systematically anchored in risk management. 

If the transparency needs of internal and external stakeholders are met and sustainable corporate governance is disclosed, this influences the company's external image and also pays off economically – such as through competitive advantages, an improved reputation or an increase in employer attractiveness.

Our ESG Solutions

To meet the requirements for the ESG reporting, we provide you with full support from our interdisciplinary teams and experts from the areas of Financial Reporting, Financial Services, Finance Processes, Risk & Compliance and Digital Architects. 

Our service spectrum ranges from full project takeover including project management to support with individual sub-areas or even selective activities. Accordingly, we can tailor our consulting approach to best involve your employees with the desired and possible deployment.

If you are interested or have any questions, please do not hesitate to contact us.

FAQ

CSR – Corporate Social Responsibility describes the social responsibility for sustainable development of a company. A characteristic feature is the voluntary basis of the approach, which thus goes beyond what is required by law. CSR is also used in the CSRD as an abbreviation for the Corporate Sustainability Reporting Directive.

ESG – Environment Social Governance describes the environmental and social areas of corporate governance. Sustainability and effective governance are placed at the center of corporate policy.

While CSR aims to hold a company accountable, ESG criteria make the actions taken measurable. Since CSR activities vary greatly from company to company and industry to industry, there is a lack of comparable metrics. ESG criteria, on the other hand, are usually quantifiable to a much higher degree.

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 Harald von Heynitz Partner of Counsel
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 Dr. Christian Herold Partner
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 Nikolaus Färber Member of the Board/Partner