ESG, Sustainability and Non-Financial Reporting

At the end of July 2023, the European Commission adopted the final version of the 1st set of the European Sustainability Reporting Standards (ESRS) that further specify the requirements set by the EU Corporate Sustainability Reporting Directive (CSRD, approved in January 2023). The reporting obligations apply to large undertakings and groups who need to include ESG information to their annual management reports.

During this course, you will orient yourself in the complex structure of the ESRS, learn what to look for and where, and gain confidence in navigating and working with the standards. You will familiarise yourself with the reporting principles that need to be followed to ensure quality and stand up to mandatory assurance.

You will learn about the structure, topics and disclosure requirements for the three pillars – E, S and G. You will be able to distinguish the mandatory and voluntary disclosures, as well as those that may be delayed.

Topics covered:

• Cross-cutting standards ESRS 1 and ESRS 2:
  • General requirements and disclosures mandatory for all undertakings subject to CSRD.
  • Strategy, impacts, risks and opportunities – their management and measurement.
  • Double materiality principle. Sustainability due diligence and value chain reporting.
  • Time horizons. Structure and presentation of the report.
• Environment: E1 Climate change, E2 Pollution, E3 Water and marine resources, E4 Biodiversity and ecosystems, E5 Resource use and circular economy.
• Social: S1 Own workforce, S2 Workers in the value chain, S3 Affected communities, S4 Consumers and end-users.
• Governance: G1 Business conduct.

The course is suitable for people who will coordinate or participate in preparation of the mandatory ESG reporting under the requirements of EU regulations – CSRD and ESRS. (EU Taxonomy is covered in another course).

Course details:

Time: 2 days
Tutor: Radka Nedvědová

The Taxonomy is a relatively new EU regulation aimed at directing private finance towards sustainable activities. It brings a common classification and definition system of economic activities that are considered sustainable from the point of view of the EU with regard to the set objectives of the EU. Last but not least, it also brings disclosure obligations for companies and groups operating in the EU.

The implementation of taxonomic reporting is a complex discipline that requires a perfect knowledge of regulations and related European legislation.

Topics covered:

• Identification of eligible activities,
• Analysis of technical screening criteria,
• Evaluation of compliance with minimum safeguards in the field of human rights,
• Method of creation and calculation of mandatory KPIs for non-financial institutions, 
• Form of Taxonomy report.

Course details:

Time: 1 day
Tutor: Matěj Schánilec

Target group:

ESG coordinators who are interested in obtaining deeper understanding of standards in the environmental pillar are recommended to take part in this course after participating in the course Mandatory ESG reporting – EU CSRD & ESRS Standards.
Those who participate in measurement and collection of reported environmental information may take this course as a stand-alone option.

Recommended combination of courses:

We recommend combining this course with the training on Carbon footprint measurement and disclosure and ESRS Standards - governance pillar, sustainable due diligence and value chain.

Description:

We are going to have a deeper look into environmental standards: E1 – Climate change (from the disclosure point of view; problematics of the carbon footprint calculation itself is covered by a single special course), E2 – Pollution, E3 – Water and marine resources, E4 – Biodiversity and ecosystems and E5 – Resource use and circular economy.

You will obtain an overview of the common structure of “E” standards, we will introduce key concepts and definitions and discuss the interaction of cross-cutting standards with “E” standards. You will learn about individual disclosure requirements and whether they result from double materiality assessment or whether they are subject to mandatory disclosure regardless of the result of such an assessment. Main provisions of the standards will be, where possible, illustrated practically.

Topics covered:

• Structure of topical “E” standards, important concepts and definitions,
• Interaction of “E” standards with cross - cutting standards ESRS 1 a ESRS 2,
• Mandatory disclosures and disclosures based on double materiality assessment,
• Disclosure requirements:
  • Policies,
  • Activities,
  • Targets,
  • Metrics.

Course details: 

Time: 1 day
Tutor: Jana Sequensová

Target group:

The course is suitable for ESG coordinators who are interested in obtaining a deeper understanding of standards in the social pillar. The course will be useful also to those, who participate in the measurement and collection of reported social information.

Recommended combination of courses:

ESG coordinators are recommended to take part in this course after participating in the course Mandatory ESG reporting – EU CSRD & ESRS Standards. Those who participate in measurement and collection of reported social information may take this course as a stand-alone option.

Description:

We are going to have a deeper look into social standards: S1 – Own Workforce, S2 – Workers in the value chain, S3 – Affected communities, S4 – Consumers and end-users. You will obtain an overview of the common structure of “S” standards, we will introduce key concepts and definitions and discuss the interaction of cross-cutting standards with “S” standards. You will learn about individual disclosure requirements and whether they result from double materiality assessment or whether they are subject to mandatory disclosure regardless of the result of such an assessment. Main provisions of the standards will be, where possible, illustrated practically.

Topics covered:

• Structure of topical “S” standards, important concepts and definitions,
• Interaction of “S” standards with cross - cutting standards ESRS 1 a ESRS 2,
• Mandatory disclosures and disclosures based on double materiality assessment,
• Disclosure requirements:
  • Policies,
  • Activities,
  • Targets,
  • Metrics.

Course details: 

Time: 1 day
Tutor: Radka Nedvědová

Target group:

Those who participate in collection of reported governance information may take this course as a stand alone option.

Recommended combination of courses:

ESG coordinators are recommended to take part in this course after participating in the course Mandatory ESG reporting – EU CSRD & ESRS Standards.

Description:

We are going to have a deeper look at two important areas of ESRS Standards. Firstly, we are going to explore the only topical standard from the governance pillar, standard G1 Business conduct. You will obtain an overview of the structure of the standard and learn about its interaction with cross-cutting standards ESRS 1 and 2. You will broaden your knowledge of the  individual disclosure requirements and whether they result from double materiality assessment or whether they are subject to mandatory disclosure regardless of the result of such an assessment. Main provisions of the standards will be, where possible, illustrated practically.

Second part of the course will be concentrated on disclosure of information in the value chain. Value chain is a relatively new, complex and cross-cutting topic in the context of corporate reporting and ESRS. Its prominence is emphasized by the existence of EFRAG’s Value chain implementation guidance and by the newly approved Corporate sustainability due diligence directive - CSDDD. The course will introduce main provisions of this directive, principles featuring in the implementation guidance and their link to mandatory provisions of individual ESRS standards.

Topics covered:

• Structure of G1 standard, important concepts and definitions,
• Interaction of  standard G1 with cross - cutting standards ESRS 1 and 2,
• Mandatory disclosures and disclosures based on double materiality assessment,
• Disclosure requirements: EFRAG’s Implementation guidance IG 2 Value chain and its link to cross-cutting and topical ESRS standards ,
• Definition of value chain, upstream and downstream subjects, relationships and dependencies,
• Incorporation of value chain into materiality assessment,
• Specifics of value chain in “E” and “S” pillars,
• Transitional provisions - phasing of disclosures about value chain,
• Due diligence based on OECD and UN principles - recommended steps and practical examples,
• Directive CSDDD:
  • Applicability: who and when,
  • Obligations resulting from CSDDD,
  • Relationship with sustainability reporting.

Course details: 

Time: 1 day
Tutor: Radka Nedvědová

European regulation, finance providers and major customers start requesting information on carbon footprint of a company or its products. Join us to learn what are the components of carbon footprint, how to calculate and how to decrease it.

You will learn about the following topics:

• Greenhouse Gas emissions – what are they and how to measure them:
  • scope 1 (direct emissions),
  • scope 2 (indirect energy-related emissions) – location vs. market-based method,
  • scope 3 (other indirect emissions) – downstream, upstream,
• Emission factors, CO2 equivalents,
• Company carbon footprint,
• Product carbon footprint,
• Carbon neutrality vs. Net Zero – offsets and compensations,
• Carbon footprint measurement and reporting standards – GHG Protocol, ISO 14064, ISO 14067, CDP,
• Carbon footprint calculation – phases, boundaries,
• Decarbonisation – SBTi, goals and means of reduction.

Course details: 

Time: 1 day
Tutors: Martina Rozkošná, Josef Novotný

We tailored this course to the needs of participants who already have experience with ESG reporting and do not need to start from the basics.

You will appreciate this training if you already report on sustainability on a voluntary or mandatory basis, based on Global Reporting Initiative (GRI Standards) or another methodology. Although this is a very good ground for fulfilling the future obligations imposed on large EU companies and groups by the CSRD directive, there are some significant differences that will require a robust preparation.

We will take you through the major differences between voluntary (e.g. GRI-based) and mandatory CSRD reporting and explain their practical implications for the report content, process and sustainability governance.

We will focus on the following topics (and more):

• Double materiality assessment – extended by financial perspective of ESG matters,
• Inter-operability, similarities and differences between GRI and ESRS requirements and indicators,
• New mandatory disclosures in ESRS (differences and additions),
• Inclusion of entity-specific (industry) disclosures in the absence of ESRS sector standards,
• Mandatory EU Taxonomy disclosures (new to majority of reporters),
• Requirements for structure and form of the report, integration to annual report,
• Rules for claiming an exemption due to inclusion in consolidated report prepared by parent company,
• Mandatory external assurance.

Course details: 

Time: 3,5 – 4 hours
Tutor: Radka Nedvědová