Daato's ESG Newsletter: June

Hello, clients and friends

We are stepping on Summer with great news from the Sustainability and ESG Industry along with major updates from our side. This previous month, we celebrated #WorldEnvironmentDay and brought along big changes impacting sustainable businesses. We’ll walk you through the changes and updates, notably the ones coming from the European Commission.?

For you to keep up with it all, we are hosting 2 Webinars in the upcoming weeks.

This upcoming Tuesday (July 4th), our CRO, Sunny Chowdhury , and our Sustainability Manager, Joanne Houston , will be discussing Double Materiality as part of the European Sustainability Reporting Standards (ESRS). From the most recent updates, figuring out what topics are material for your organization is essential for proper reporting, so we want to make sure you know what’s needed.

It’s happening already next Tuesday, July 4th, from 10 am to 10h30 CEST.

Register for the event here.

Then, on July 11th, our CEO Satya Kamal Raparthi will interview Justus Fischer , Partner at Via Tomorrow Consulting , a consultancy company in Berlin with expertise and great success in #ESG performance for companies. Their proven methods encompass a wide range of services in ESG strategy, ESG analysis, ESG data collection, and ESG reporting.

They will approach crucial topics around the EU Taxonomy, such as:?

- What is EU taxonomy about and what is the latest update on it?

- Challenges in implementing EU taxonomy and how to overcome the operational challenges

- EU taxonomy in the bigger ESG compliance picture

Don’t miss it: Tuesday, July 11th, from 11 am to 11h45 CEST.

Guarantee your virtual seat here.

Now, let’s go to everything that happened in June around Sustainability and ESG matters.?

Happy reading!

Keeping up with Daato

We attended the Procurement Summit 2023

Our COO, Thilo Hitz , spoke at the Procurement Summit 2023 in Hamburg, talking about the future of procurement alongside our CEO Satya Kamal Raparthi and Christian Otto.

Thank you, Procurement Summit , for having us!?

We’ll see you in the next one!

We are Top10 of the DPW startup competition?

We made it to the next round in the Demo 2023 startup competition!

Thank you, DPW ! We appreciate the opportunity. With procurement, sustainability, and compliance in focus, we look forward to empowering procurement sustainability to the core!

DPW has become procurement’s largest technology community. A global meeting place for the world’s most disruptive technology companies and those interested in how that disruption can transform their businesses.?

What to expect now in Sustainability and ESG, by Thilo Hitz?

Our COO Thilo Hitz shared what you can expect and prepare for in Sustainability and ESG matters for the 2nd semester of 2023, especially regarding the European Sustainability Reporting Standards (ESRS), EU Taxonomy, and much more.

See his predictions here.

We attended Empower Responsibility event with TechHub.K67

Our CRO, Sunny Chowdhury , attended as a Speaker at the Empower Responsibility event, which provides clarity and differentiation on the concepts such as ESG/CSR and SDG from a professional and practical perspective.

Sunny shared further insights on solutions for companies and startups to meet legal obligations and requirements.

Thank you, TechHub.K67 , for having us! See you next time!

The latest news on Sustainability and ESG

The European Parliament finally reaches an agreement on CSDDD

According to the Anti-Slavery Organization, the European Parliament approved a text proposed by the Legal Affairs Committee, taking a significant step towards workforce conditions within the workplace, which represents a more positive outcome for them.

The #CSDDD is the Corporate Sustainability Due Diligence Directive, and it will require companies in the European Union to conduct due diligence matters on human rights and environmental impact throughout their supply chain.?

See here how that may impact your business, the gaps it fills, and the next steps.

Why your business is not attracting a young, and engaged workforce

According to a survey conducted by Deloitte, Millennials, and GenZ are making career choices based on their climate concerns and how companies are currently addressing them.?

Millennials and GenZ are deeply invested in Sustainability and over 40% of them have or plan to change jobs due to climate considerations - which represents 23.000 respondents in 44 countries.

Have access to the full story here.

OECD released updates on their guidelines for businesses

#OECD stands for the Organisation for Economic Co-operation and Development, and they recently released updates on their Guidelines for Multinational Enterprises on Responsible Business Conduct for the first time in over 10 years.?

These guidelines have great relevance to main regulations, such as the German Supply Chain Act (LkSG), the Corporate Sustainability Due Diligence Directive (CSDDD), the Corporate Sustainability Reporting Directive (CSRD), and the Sustainability Standards (ESRS). If those regulations impact your company, check the full information on the OECD changes here.

The recent changes made in the ESRS

The European Commission published an #ESRS draft of delegated acts. We quickly walked through each change in a last-minute Webinar hosted by our COO Thilo Hitz and our Sustainability Manager Joanne Houston .?

One of the key changes to the European Sustainability Reporting Standards is that all standards and disclosure requirements will be subject to the Materiality Assessment, except for the General Disclosures. Such changes increase the relevance of the Double Materiality Assessment.?

In our platform, we already have the ESRS draft standards and we constantly adapt to the changes being made to it.?

Here is everything you need to know more about it!

Unlocking Success in CSRD Compliance

In an era where sustainability impacts consumer choices and market competition, your ESG commitments and disclosures play a crucial role in building trust, driving value, and gaining a competitive edge. 94% of companies are currently preparing to achieve compliance with the Corporate Sustainability Reporting Standards (CSRD).

See here the challenges they are facing, and how to overcome them and achieve CSRD compliance with ease.

Be ready for the CSRD in 6 easy steps

In our #CSRD breakdown, we are preparing for the CSRD together.?

Our Sustainability experts selected 6 crucial steps to take in order to achieve compliance. You can check them all here.

For a personalized analysis and recommendations, please reach out to our team. We are more than happy to assist you to achieve compliance with the main regulations on Sustainability and ESG matters. Our platform also makes it easier for you to gather data, keep track of risks and suppliers, and report your performance automatically - which is probably the best way to handle sustainability reporting without any headache.

ESAP: know everything about the new acronym in Sustainability

Instead of running away from Sustainability Reporting acronyms, let’s break them down.

In simple terms, #ESAP stands for European Single Access Point and it’s a digital platform that aims to centralize financial and sustainability information reported by European companies.

The good news: that doesn’t mean any additional reporting burdens for companies.

This tool is designed to enhance access to corporate finance and sustainability disclosures, which fosters informed decision-making and promotes investments in the European Union.

Check here the roll-out of the ESAP platform.?

Here is why you need to stop using Excel spreadsheets to handle your Sustainability reports

If we’re being honest here, the fastest answer will be: Excel was not developed for Sustainability reporting, and that is why it is not compatible with how you’re handling that data there.

When using Excel spreadsheets to handle sustainability reports, you realize that you will take a lot of time requesting and gathering different information from different sources, that Excel doesn’t keep up with the regulation standards and it will not make it easier for you to track everything you need to report.

Instead, you can use our platform, which was specifically designed for your company to handle, manage, track, and share sustainability reports.

You will realize that the reasons why you are not stressing out about reports are because:

- we are covering all relevant legal requirements for you, such as CSRD/ESRS, EU Taxonomy, and the LkSG (German Supply Chain Act)

- everything is legally reviewed and compliant with EU standards

- your data is being handled automatically through our workflows and integrations?

- we are automatically tracking and reminding you of any updates

- you will be sending out your sustainability reports in one click

Reach out to our team to start making Sustainability Reporting a lot easier for you. We are happy to go through the platform together and show you how it works in practice.

ISSB moves forward on sustainability reporting standards

The International Sustainability Standards Board (ISSB) issued sustainability reporting standards #ISSB S1 and S2. Let’s see what that means.

These standards will play a pivotal role in supporting your and many other companies as you embark on your sustainability journey, particularly in identifying and responding to the impacts and risks that climate change brings to your operations.

Here you can dive deeper into its outcomes and our recommendations for you.

Updates in the EU Taxonomy and ESG Ratings

Mairead McGuinness, Commissioner for Financial Services, Financial Stability and Capital Markets, states:

"Today we are taking steps to further develop the EU Taxonomy. And we are bringing more transparency and integrity to the market by introducing rules on the operations of ESG rating agencies. Enhancing the usability and coherence of the sustainable finance framework will be our key priority.”

See here the latest proposals to shape the Sustainable Finance framework in the European Union.

We are excited for the months to come!?

That is a wrap for the latest news brought up to you this past month!?

As a reminder, we are hosting 2 Webinars in the upcoming weeks about Double-Materiality in the ESRS, and EU Taxonomy.

See all information and the link to be a part of it, below:

Our first Webinar will be hosted by our experts: our CRO, Sunny Chowdhury, and our Sustainability Manager, Joanne Houston. They will discuss Double Materiality in the European Sustainability Reporting Standards (ESRS). You will finally understand what topics you will have to report.?

It’s happening already next Tuesday, July 4th, from 10 am to 10h30 CEST.

You may guarantee your virtual seat here.

Then, on July 11th, our CEO Satya Kamal Raparthi will interview Justus Fischer, Partner at Via Tomorrow, a consultancy company in Berlin with expertise and great success in ESG performance for companies. Their proven methods encompass a wide range of services in ESG strategy, ESG analysis, ESG data collection, and ESG reporting.

They will approach crucial topics around the EU Taxonomy, such as:?

- What is EU taxonomy about and what is the latest update on it?

- Challenges in implementing EU taxonomy and how to overcome the operational challenges

- EU taxonomy in the bigger ESG compliance picture

Don’t miss it: Tuesday, July 11th, from 11 am to 11h45 CEST.

Guarantee your virtual seat here.

See you next month! Cheers!