ESG Reporting in 2024: What Changes will the CSRD directive bring?

In recent years, more and more attention has been paid to sustainability and non-financial reporting. There are significant changes ahead in 2024, especially for Polish businesses. One of the key initiatives is the CSRD, which makes ESG reporting mandatory for many companies in the European Union. It is worth considering what this means for our horticulture industry.

What is ESG reporting?

ESG refers to the environmental, social and governance aspects of companies' operations. ESG reporting is about providing information on these areas, which is becoming increasingly important to stakeholders such as investors, customers and the community.

ESG reporting obligation - when and for whom?

The CSRD imposes ESG reporting obligations on most listed companies in the EU and other large companies. This means that companies operating in the horticulture sector will also have to prepare reports on their sustainability activities.

What are the changes in 2024?

With the introduction of the CSRD, Polish entrepreneurs must prepare for new challenges. The ESG reporting implementation schedule imposes an obligation on companies according to specific deadlines, and failure to meet this obligation may result in financial sanctions.

How to prepare for ESG reporting?

Companies should start preparing for ESG reporting now. There are various methods of measuring carbon footprint that can help with sustainability reporting. It is also important to understand the principle of double materiality in ESG reporting, which refers to materiality for both the company and society.

What are the consequences of not fulfilling ESG reporting obligations?

It is important to be aware that a lack of non-financial reporting can result in serious consequences, including financial penalties and a negative impact on a company's reputation. Therefore, every company should implement preparatory processes and comply with the new requirements.

In 2024, the CSRD will bring significant changes to ESG reporting for Polish companies. By implementing appropriate procedures and ensuring compliance with the new regulations, companies can not only meet their legal obligations, but also gain the trust of customers and investors, and contribute to building a more sustainable future for the planet.