Scope 3 Emissions – Challenges and Opportunities The systematic accounting of Scope 3 greenhouse gas emissions comes with particular challenges. In this blog post, we first provide a brief overview of the systematics involved in classifying greenhouse gas emissions (Scope 1 to 3) and then address the specifics, challenges, and opportunities that arise in the...
From Zero to Double Materiality – How to conduct a Double Materiality Assessment in 7+1 steps? We have already covered the concept of double materiality in several blog posts (see here, here and here). However, doing so has led to the question of how to conduct a double materiality assessment. In this final instalment of...
Opinion | Close encounters of the 4th kind – Scope 4 GHG Emissions Most likely, you have heard about scope 1, 2 and 3 GHG emissions. Recently, some of you may have experienced a close encounter of the 4th kind: Scope 4 GHG emissions. Scope 4 GHG emissions have been mentioned in the climate strategy...
EU Corporate Sustainability Reporting Directive (CSRD) – Mid-2022 update This blog post covers the mid-2022 updates on the CSRD. You can find our earlier coverage of the CSRD here. On June 21st of, 2022, the Council and the European Parliament reached a provisional political agreement on the CSRD [1]. On June 30th, 2022, the Council...
European Union’s Sustainable Finance Disclosures Regulation (SFDR) Given the growing importance of sustainability and the increased commitments to achieving the objectives set under the Paris Climate Agreement and the UN Sustainable Developments Goals (SDGs), countries worldwide are enacting policies and regulations to facilitate private capital through the financial markets into firms that promote sustainability. Timely...
What is the EU Taxonomy Regulation? The EU Taxonomy Regulation is a critical component of the EU Green Deal, which aims to achieve the transition to a modern, resource-efficient and competitive economy. The initial requirements of the EU Taxonomy must be implemented as of January 1, 2022. In this blog post, we explore the questions:...
Opinion | (E-)merging ESG regulation and standards – can the European and US perspectives converge? A significant criticism of ESG is often related to its lack of globally adopted standards and regulations. Prominent examples are the “alphabet soup” of ESG frameworks and the expectation for uniform regulation of ESG globally. Interestingly, while some ESG frameworks...
“Double Materiality” – What does “double materiality” mean for sustainability reporting? The concept of “double materiality” is a central element of future corporate sustainability reporting in the European Union. The Corporate Sustainability Reporting Directive (CSRD) will replace the current Non-Financial Reporting Directive (NFRD) in Europe. As per the mandate of the CSRD, sustainability reporting is...
Reporting on Scope 1, 2 and 3 GHG Emissions – Opportunities and Challenges for Corporations Why are GHG emissions critical for businesses and corporations? What are the opportunities of carbon accounting, and how can companies navigate their scope 1, 2 and 3 emissions landscape? In this blogpost we provide background on GHG emissions discuss the...
First insights: The future European Sustainability Reporting Standard (ESRS) and the Corporate Sustainability Reporting Directive (CSRD) With the introduction of the Corporate Sustainability Reporting Directive (CSRD), uniform disclosure requirements will apply to those companies in the European Union that fall under the regulations of this directive. The CSRD will replace the previously applicable Non-Financial Reporting...
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