Topic: Sustainability & ESG

Contributed by: CT&P.

When we talk about sustainability, with a specific focus on ESG (Environmental Social & Governance) factors, we tend to think that it only relates to large companies and organisations with roles in the public interest. But is this really the case? Can small and medium-sized companies and professional services firms be left out of the equation?

Contributed by: BKL.

Simon Bussell, our Marketing and Business Development Director, sat down with Myfanwy Neville, Partner and Head of ESG (Environmental, Social and Governance), to talk about BKL’s ESG journey – including becoming a certified B Corporation in 2022 – and how we’re supporting owner-managed companies to become better businesses.

AGN Global Business Voice: Practice Management

The Essential Guide to Environmental Social & Governance (ESG) for Accountants – Reducing Risks and Identifying Opportunities. For now, ESG issues only really impact larger firms serving public interest entities, and smaller-to-medium-sized practices probably have five to ten years to make any changes needed – right?

News from the AGN EMEA Accounting, Auditing & Education Committee (AAEC)

As it did with the EU Taxonomy Regulation, we question whether the EU Commission is now “greenwashing” CSRD sustainability reporting.

After the European Financial Reporting Advisory Group (EFRAG) “expert group” submitted its drafts on Set 1 of the European Sustainability Reporting Standards (hereinafter EFRAG-ESRS) to the EU Commission in November 2022, the Commission published its revised versions on June 9, 2023 (hereinafter EU-Com.-ESRS) and put them out for public consultation.

News from the AGN EMEA Accounting, Auditing & Education Committee (AAEC)

The European Sustainability Reporting Standards (ESRS) emphasise the importance of stakeholders for sustainability activities:

News from the AGN EMEA Accounting, Auditing & Education Committee (AAEC)

Sustainability reports must be audited in the future. The audit result must contain statements regarding the following:

• Compliance with the CSRD and the ESRS (including the process for identifying reportable information).
• Compliance with Article 8 of the EU Taxonomy Regulation.
• Compliance with the ESEF Regulation with regard to disclosure in the ESEF format.

News from the AGN EMEA Accounting, Auditing & Education Committee (AAEC)

In this article, Carsten Ernst – AGN’s expert in financial (IFRS) and sustainability (ESRS and GRI) reporting, explains some important terminology in the European Sustainability Reporting Standards (ESRS), which are prepared by the European Financial Reporting Advisory Group (EFRAG).

The EFRAG must follow the guidelines of the CSRS. The European Commission adopts the ESRS and reviews them at least every three years.

News from the AGN EMEA Accounting, Auditing & Education Committee (AAEC)

If the EU Commission asks the European Financial Advisory Reporting Group (EFARG) to square the circle, history will repeat itself, and Mr Eccles was unfortunately wrong! In this newsletter, we hear what Carsten Ernst, AGN’s expert in financial (IFRS) and sustainability (ESRS and GRI) reporting thinks of the situation. What is likely to happen? How will EFRAG deal with this?

News from the AGN EMEA Accounting, Auditing & Education Committee (AAEC)

In previous newsletters, Carsten Ernst – AGN’s Expert in financial (IFRS) and sustainability (ESRS and GRI) reporting, explained the EU Taxonomy Regulation, Taxonomy-Eligible Activities, and Taxonomy-Aligned Activities. This month, he addresses Taxonomy Quotas, including turnover, capital expenditures and operating expenses.

News from the AGN EMEA Accounting, Auditing & Education Committee (AAEC)

The March newsletter addressed the Procedure for Taxonomy-eligible Activities. In this newsletter, Carsten Ernst – AGN’s Expert in financial (IFRS) and sustainability (ESRS and GRI) reporting, focuses on Taxonomy-aligned Activities. Does the economic activity contribute substantially to achieving one of the six environmental objectives? Does the economic activity result in no significant harm to the environmental objectives? Are the minimum safeguards according to Article 18 of the Environmental Taxonomy Regulation complied with?