Although the legislative effectiveness of the CSRD has been delayed, the obligation of non-financial reporting is imminent in the European area. Many companies will soon have to report information on the environmental, social and governance impacts of their activities. They already benefit from this through better access to finance from banks and investors or a competitive advantage with customers and in the labour market. "Delaying legislation does not mean that the market is not placing a premium on ESG. Investors, banks and other financial institutions are increasingly taking various ESG factors into account in their decision-making," points out Vladimír Hlavinka, CEO of ORGREZ Group.
In addition to market pressure, there are also internal reasons why it pays for companies not to delay ESG reporting. Preparing for future regulation will allow them to gradually build the necessary processes and competencies for data collection and evaluation, while reducing the risk of failure when voluntary reporting becomes a legal obligation.
However, according to Jan Hanus, Director of ORGREZ ECO, ESG data is not only important for meeting regulatory requirements. Valid data enables us to set the right strategic goals, evaluate their implementation and manage risks effectively."
Find, sort, process. But how?
While companies already have effective, consistent financial reporting in place, they face a challenging task in non-financial reporting: identifying, integrating and processing relevant data and reporting reliable, comparable information on their sustainability performance. ‘In many companies, the main problem is working with data - finding it, sorting it, verifying it and then using it to develop priorities and realistic goals,’ says Vladimír Hlavinka.
The sustainable business specialist, a subsidiary of ORGREZ ECO, has therefore developed an advanced solution for automating the collection and evaluation of data for ESG reporting - the Envision product. It provides digitization, automation of collection and processing of all ESG data from various customer systems, thus enabling efficient and reliable non-financial reporting, most often according to European ESRS standards, including the definition of dual materiality. One of the main advantages is the minimal burden on the customer.
The service will be appreciated by companies with a large amount of environmental data, especially energy companies, heating plants and companies with industrial operations, as well as companies that continuously measure emissions, waste, water consumption and other environmental data, including users of EMO or EisNet measurements from ORGREZ.
The solution is to automate repetitive work with data
Envision helps you to work smartly with a wide range of ESG data, often non-numeric, to digitize it, automate its collection, sort and analyze it according to European ESRS standards and organize it into a final report. Envision integrates data from different customer systems. It can handle a wide range of data from different sources such as technology systems, measurement systems, evaluation systems, API retrieval, ERP systems (SAP, Navision...), internal customer documentation in Word, Excel, and PDF format or manually entered data.
‘The process is fully transparent, the data is collected and structured with maximum security and auditability in mind,’ Jan Hanus explains the advantages.
In addition to data exports for mandatory reports, the system also supports long-term trend monitoring and data visualization for management decisions or communication with investors and banks.
Ease of working with data frees up hands for business strategy
By automating the process, Envision makes it easy to run recurring reports, monitor long-term trends and focus on what's important - creating a sustainability strategy, defining and presenting ESG goals. This is also something that ORGREZ ECO's team of experts can help customers with.
‘We guide management pragmatically towards priorities so that reporting does not just mean time and money-consuming formal compliance with legislation, but contributes to sustainable development and business resilience with an emphasis on economic profitability,’ emphasises the essence of the product Jan Hanus.
Read more about the service at https://www.orgrezeco.cz/esg