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How you can benefit from expanding sustainability standards

by Sam Baldwin

27 March 2024

Businesses connected with EU countries are likely to be affected by expanding European sustainability disclosure standards. By taking steps towards disclosure now, you could not only gain a valuable competitive advantage, but also avoid potential business risks in the future.

Is your business one of a million?

If your business has any connections with EU countries, you are likely to be affected by expanding European sustainability disclosure standards. Critically, this change might be coming sooner than you think.

According to analysis by ESG specialists, The Disruption House,

Nearly 1 million SMEs in the UK will feel the impact of changing regulations within the next 3 years.

By taking steps towards disclosure now, you could not only gain a valuable competitive advantage, but also avoid potential business risks in the future.

 

How can Ecovis make a difference?

At Ecovis, we help businesses create and implement ESG strategies. We support you to comply with the sustainability standards and achieve long-term success. To learn more about how disclosure can help your business achieve sustainable success, get in touch with our team.

 

Do These Sustainability Standards Affect Your Business?

The European Sustainability Reporting Standards (ESRS) apply to companies that do business in the European Union. They affect EU-based subsidiaries of UK companies that meet certain size or revenue thresholds.

But what if you are an SME that does not fall under these criteria? Should you ignore these new standards? Not at all.

Even if you do not trade directly into the EU, you might be part of a supply chain that does. The ESRS requires European businesses to identify and report on sustainability risks in their value chain. Therefore, to keep your relationships with your European partners, you may need to disclose voluntarily.

If you’re not sure whether your business will be affected by ESRS, please ask our team by clicking the button below.

Ask our ESG experts

 

What are the Benefits of Voluntary Reporting?

By creating your own disclosure framework, you not only strengthen your links with partners in Europe, you also gain access to valuable sustainability data about your own business. This data can give you a distinct advantage over competitors that are not required to make disclosures, enabling you to create an ESG agenda that can improve your knowledge and efficiency.

 

Connect with our experts

Here at Ecovis, we want to make ESG compliance as simple and cost-effective as possible.

Our experienced ESG team can provide you with a comprehensive range of ESG services, from strategic advice to practical implementation, helping you effectively manage the (sometimes complicated) process of ESG integration.

To learn more, please contact our team. Let Ecovis guide you through sustainability disclosure and give your business a competitive edge!

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