The methodology for preparing the report is complicated, experts opine. (source: Adobe Stock)
As companies prepare to meet new obligations to deliver ESG (environmental, social, governance) reports, experts have said the process of producing them is likely to present a challenge for many of organisations.
“The preparation of a sustainability report is a demanding process, not only in terms of time but also necessary staff capacity and expertise,” Erika Vitálošová, ESG leader at PwC Slovakia, told The Slovak Spectator.
“In particular, preparing the first sustainability report, which has to comply with legislative requirements, appears to be complex, mainly because this process is unfamiliar to companies.”
Problems that companies may encounter
The methodology for preparing the report is complicated, and the legislative requirements and the EU Corporate Sustainability Reporting Directive (CSRD) are new and often not easy to interpret, she explained.
“One particular major challenge tends to be the availability of data of the necessary quality, structure and granularity because, until now, companies have not needed to collect, process, measure and report much of this data and information at all,” said Vitálošová.
