Daato's ESG Newsletter: April
Hello, clients and friends
In April, we experienced a significant amount of industry news and updates regarding main regulations and the next steps for companies. We are glad to always be your source of up-to-date information and breaking news, as well as share further insights from specialists in our team and our behind-the-scenes moments.?
We proudly held another Webinar from our LkSG Series, regarding LkSG from a legal perspective, in which our COO, Thilo Hitz , interviewed Christian Ritz, LL.M. (USYD) , Partner at Hogan Lovells, on specific and crucial matters on the German Supply Chain Act. It was great meeting some of you and answering your questions and concerns.?
In this newsletter, we’ll go through the latest updates from #BAFA and the International Sustainability Standards Board (ISSB), as well as recent news on EU Taxonomy, shifts in Sustainability Standards, and progress on the #CSDDD.
Happy reading!
Keeping up with Daato
Our company retreat to COCONAT
We had a great time bringing our pan-European team together! We spent 3 days in Bad Belzig, Brandenburg, where we could take a break, connect and recharge for the week. Thank you COCONAT - a workation retreat for the great hospitality, we’ll surely be back!
Check how was our team’s experience here.
Webinar with Christian Ritz on LkSG compliance
As part of our Webinar Series on LkSG, the German Supply Chain Act, our COO, Thilo Hitz , interviewed Christian Ritz, LL.M. (USYD) , on his legal perspective on the implementation of the LkSG. Christian Ritz is a partner in Compliance & Investigations and Antitrust & Competition at Hogan Lovells, together, they addressed the challenges facing the German SME sector and the solutions available to take action, focusing on:?
You can check the full interview here.?
If you have questions or concerns regarding the implementation of the LkSG, feel free to contact our team.
Webinar with the neoverv team
Our COO Thilo Hitz was part of the conversation on #CSR, #Business, and #Tech moderated by Katharina Vogel and Frank Radeke from neoverv . It was great being able to contribute significant value in #ESG management and #sustainability reporting.
Get to know the dream team behind Daato
Arnaud L. is our very first employee and recently celebrated a year at Daato. He joined as our Entrepreneur in Residence, bringing dynamism and efficient know-how to help us navigate the ever-evolving world of purpose-driven startups! Cheers!
See how’s been Arnaud’s experience, here.
The latest news on ESG and Sustainability
How to leverage LkSG and ESRS overlaps
There are 4 ways you can leverage their overlaps, you can check them all here.
Discover how Daato seamlessly integrates the overlaps between the Supply Chain Act (LkSG) and the European Sustainability Reporting Standards (ESRS) to save time and resources, as you fulfill LkSG and ESRS, and optimize your reporting to save time and resources.?
ESRS: do’s and don’ts
We broke down the concept and best practices of the European Sustainability Reporting Standards (#ESRS), which aim to establish a common language for sustainability reporting. We explained how important it is to take further actions, such as adopting a systematic approach and engaging stakeholders, as well as recommended what not to do, such as overcomplicating your report or assuming that one size fits all, for instance.?
You can use the checklist to guide your company through #ESRS compliance. Check Part 1 and Part 2 for the full guide!
EU shifts focus for Sustainability reporting standards
The European Union postponed industry-focused sustainability reporting standards, as it aims to prioritize guidance implementation. In a significant development, the European Financial Reporting Advisory Group (EFRAG) announced a delay in releasing industry-specific European Sustainability Reporting Standards (#ESRS).
ISSB update standards
In a recent meeting, the International Sustainability Standards Board (ISSB) prioritized climate-related disclosures to support companies during their initial application of the #ISSB Standards. This move will help organizations focus on investor information needs surrounding climate change in the first year of reporting.
The ISSB's S1 and S2 Standards will be issued towards the end of Q2 2023, with a consultation on future standard-setting priorities expected in May 2023.
Check the full story on how this will impact your company, here.
领英推荐
Latest updates on EU Taxonomy #Taxo4
The Draft Delegated Acts for the 4 additional environmental objectives have been published and are now open for consultation. This includes amendments for climate change mitigation and adaptation Delegated Acts, as well as the Disclosures (Article 8) Delegated Act.
?? Check out the Draft Delegated Acts here:
? Mark your calendars: Final texts are expected in June 2023, and it seems that eligibility on Taxo 4 will be applicable from 2024 based on 2023 reporting. This comes as a surprise, given that the draft was published in April.
??? Explore the new taxonomy tools:
EU Taxonomy Navigator: https://lnkd.in/dFTu6Nup
Breaking News on #CSDDD?
At Daato, we are excited to share the latest development on the Corporate Sustainability Due Diligence Directive (#CSDDD). Recently, we shared that a significant deal was reached by the European Parliament , marking a milestone towards European legislation for responsible business conduct. Afterwards, we shared further updates on the progress for the #CSDDD: This week, the European Parliament's Legal Affairs Committee voted to approve the listed improvements to the #CSDDD proposal.
See here everything you can expect from the Corporate Sustainability Due Diligence Directive (#CSDDD), to be prepared for.
Uyghur Forced Labor Prevention Act (UFLPA) & Its Impact on Importers
Since its implementation in June 2022, companies can no longer import goods mined, produced, or manufactured in #Xinjiang. The #UFLPA focuses on 4 key types of products that will have implications for a wide range of industries including solar energy and fashion and apparel.?
Check the implications of not taking a risk assessment on human rights violations, here.
Read the article to know what companies can do to continue importing from Xinjiang, here.
This should be your first move towards Supply Chain Sustainability
Are you aware of your supplier’s risk score?
For all regulations on Sustainability and #ESG reporting, it’s required that companies keep track of the potential risks and gaps throughout their entire supply chain.?
At Daato, we provide a holistic solution to take your first or next step towards more sustainable and responsible supply chain management. In our #FeatureFriday, we shared with you how - which you may check here.?
Count on us for your Supplier Risk Analysis and along your entire compliance journey!
How to perform an ESRS Double Materiality Assessment
As part of the European Union’s efforts to protect the environment and mitigate climate change, the double materiality concept is being incorporated into regulatory requirements such as the Corporate Sustainability Reporting Directive (CSRD). The #CSRD reporting standards are expected to be formally approved and adopted later this year.
By following this process, an undertaking can identify which sustainability matters are most significant to its operations and stakeholders, so that it can prioritize reporting on those issues.
Discover more about the concept in practice, here.
?? Check the full guide on how to perform an ESRS Double Materiality Assessment here.
Your free step-by-step guide: Streamline your ESG reporting with Daato
Our step-by-step guide on European Sustainability Reporting Standards (#ESRS) is available for you and your team.
Access the full solution guide for ESRS here.
Daato is an all-in-one platform where you and your team are able to put all of this knowledge into practice, and therefore comply with the main regulations with great efficiency.?
For further support and guidance, feel free to contact our team:?
We are excited for the months to come!?
Let us know if you have any questions or feedback, and reach out for any topics you wish we can share more information about! As always, we are happy to keep you posted!
Feel free to take a further look at Daato’s software and request a Demo here!