Does your company have the necessary resources for sustainability reporting?

Corporate responsibility and sustainability are, for example, a prerequisite for attracting new capital today. Investors highly value responsible products and services and seek investment opportunities where sustainability is prioritised and developed in a determined and systematic manner. 

Reporting requirements are increasing significantly and apply to an ever-growing number of companies both in Finland and elsewhere in Europe following the EU’s Corporate Sustainability Reporting Directive (CSRD).

The goal of standardised reporting is to achieve transparency, comparability, clarity, and openness, which is essential for our planet and, at the same time, puts all players on an equal footing when it comes to sustainability assessments—fair enough, right? On the other hand, resourcing and keeping up with changes in requirements, obligations, and legislation can be a headache. 

 According to the Corporate Responsibility 2023 survey commissioned by FIBS (Finnish Business & Society), the largest corporate responsibility network in the Nordic countries, the biggest challenges related to sustainability for the future are indeed the skills gap and resources. Only 6 per cent of survey respondents rated their expertise as sufficient in relation to their company’s sustainability goals, and only one in ten rated the available resources and measures as sufficient in relation to their company’s sustainability goals.  Sustainability efforts vary greatly from one company to another. However, you have to start somewhere, and even as you make progress, you may find that the smartest approach requires partnerships. Since sustainability must be an integral part of the business strategy and thereby support business operations, it makes sense to begin this work as early as the company’s founding stage. 

 Working with a partner network offers greater versatility—outsiders can see the bigger picture and bring new ideas to the table. Sharing the workload also makes things easier; you don’t have to know and do everything on your own.

Are you concerned about reporting or do you need support with it?
Get in touch, and let’s figure out the issues together!   

The current sustainability reporting requirement already applies to large public companies, among others, based on specific criteria, and will be expanded in the spring 2026 reporting cycle to include companies that meet at least two of the following criteria: 250 employees, revenue of at least 50 million euros, and a balance sheet total exceeding 25 million euros (these are the index-adjusted thresholds updated in October 2023). Listed companies in the SME sector will be subject to the reporting requirement in the third phase in 2027, within a two-year transition period.

FIBS Yritysvastuu 2023 -tutkimus