Navigating the complexities of sustainability reporting: insights from experts

Since the sustainability reporting directive came into effect, companies find themselves navigating through a landscape in flux. Standards are still being developed and this causes confusion among companies. There are many standards, but not all standards apply to everyone.

In the podcast of an Estonian business portal Äripäev, experts discussed sustainability reporting. Guests of the show included Marika Taal, advisor of the Financial Information Policy Department of the Ministry of Finance, Merilin Iital, LHV Bank’s sustainability specialist, and Priit Kappak, Tallinna Vesi’s sustainability manager.

“The report must contain only important information,” explained Marika Taal. The podcast asks what is the difference between sustainability and ESG and what is the purpose of all this. The guests explain why it is important to look behind the numbers and not just compare companies’ CO2 data.

“It’s not a competition of excellence where you have to immediately comply with every requirement,” said Merilin Iital from LHV and added that it’s important to start thinking about the effects of your company.” Iital warns that neglecting to do so might jeopardize a company’s competitiveness, hindering access to bank loans or government subsidies in the long run.

To listen to the insightful discussion on sustainability reporting featured in the financial news focus show, tune in to the broadcast here. The show is in Estonian.

Photo copyright: Äripäev

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