ESG Reporting and Strategy
Objectives
In November 2022, the EU adopted the “Corporate Sustainability Reporting Directive” (CSRD), which requires companies to report ESG and CSR related data. Starting from 2024, around 50.000 companies are mandated to publish their ESG reports. The key requirements are detailed in the European Sustainability Reporting Standards (ESRS).
European enterprises with operations in China are also subject to these regulations and face unique challenges as they need to navigate both global and local standards in ESG reporting. Specific challenges in China ESG Reporting include data collection difficulties and reliability issues in China, regulatory differences between EU and China, and cultural differences hindering communication and understanding.
These complexities require tailored approaches to ensure compliance with China’s specific ESG challenges.
Objectives of this project:
- Ensure ESG reporting on China operations in compliance with CSRD and ESRS.
- Identify and evaluate China-specific ESG factors.
- Enhance data accuracy from Chinese operations.
- Identify and address critical ESG impacts, risks and opportunities for Chinese operations.
- Develop actionable ESG strategies and plan while considering China’s specific regulations and circumstances.
Processes
Results
- Evaluated 46 potential impacts on ESG in client’s China operations, classifying a total of 16 impacts as material.
- Thorough analysis and data collection ensured accuracy and reliability of ESG data from Chinese operations.
- Successfully mapped out critical ESG risks and opportunities within the Chinese value chain.
- Formulated actionable ESG strategies addressing unique local challenges.
