ESG is not a trend, but the way to responsibly shape the future. But what about ESG compliance in your own company? ESG stands for Environmental, Social and Governance and medium-sized companies are confronted with this in many areas. A sustainable ESG concept helps a company to define and achieve its sustainability goals, to be attractive to banks and to increase the value of the company. When developing and implementing such an individual concept, many questions arise that need to be clarified. A systematic and structured approach ensures the necessary transparency here.
What was previously very good for SMEs, but not mandatory, is becoming a “must have”: CSR reporting is moving into the SME sector and will be given a permanent place in the management report as of 1 January 2024. This puts non-financial, i.e. sustainable reporting, on the same pedestal as financial reporting.
The EU Commission’s planned changes to the extended reporting obligation are not surprising; after all, the sustainable contribution of all companies plays an important role in Europe’s sustainability transformation. Here, reporting is the toolbox to ensure the implementation of these sustainable economic measures.
The topic of sustainability is gaining strength. The background is the EU Green Deal, with which the European states want to gradually make the EU climate-neutral by 2050. The financial markets have a decisive role to play in the implementation of the climate policy goals, as they promote and anchor the issue of sustainability. “Sustainable finance” is the new buzzword. It means that sustainable aspects of a company regarding the environment, social issues or corporate governance are included in the decisions of financial actors. Sustainable finance is synonymous with supervision and regulation of the financial markets towards more sustainability in companies – and that also in small and medium-sized enterprises. In the future, banks will give more weight to sustainable aspects when granting loans, regardless of the size of the company, and make sure that their loan portfolios are in line with the EU taxonomy, which will come into force in 2022 and place greater emphasis on environmental aspects.
Personnel development – some entrepreneurs don’t like to hear this word. In most cases, it is closely linked to expensive seminars, training courses and further education. And these expensive measures haven’t brought the success that the company expected, often. “No wonder”, the expert thinks, and we show what personnel development means and why personnel development is more important than ever for the success and growth of companies.
Sustainability is used more and more as an effective advertising slogan in marketing by trainers and coaches. We read more and more often: “I work sustainably”; “We anchor our knowledge in your company sustainably “. But you have to check carefully whether the way it is done can actually be sustainable.