European Sustainability Reporting Standards
The goal of CSRD is to close the gap between financial and sustainability-related information. It aims to achieve this by increasing consistency in information and format, adding a double materiality perspective including the value chain, and enabling comparison with the extensive ESRS. One of the most challenging topics to report on is Standard 1: Own Workforce (S1), which is why Holtara and Diversio are teaming up to provide solutions for those in scope.
The S1 ESRS mandates over 700 potential reporting elements on various workforce-related aspects, including diversity metrics, workforce policies, accommodations for persons with disabilities, work-life balance, and compensation. The 12 key disclosure topics aim to increase transparency and accountability in business practices.
As the initial reporting period commences, companies face numerous challenges in meeting these extensive requirements, such as the risk of inaccurate or incomplete data collection, data privacy and security concerns, and the complexity of collecting demographic data across different legal jurisdictions. Non-compliance can lead to significant financial penalties and reputational damage.
Holtara and Diversio bringing you solutions
To address these burdens, Holtara and Diversio have developed services that ensure efficient and compliant data collection and reporting across the EU and other regions. They are collaborating in a webinar with clients who have already started preparing for the lengthy ESRS reporting and can share insights so far. This webinar will cover:
- Quickfire: What is ESRS S1: Own workforce, and how does it relate to CSRD compliance?
- Deeper dive: What are the disclosure requirements for S1, and what are the main challenges of this module?
- Hear from your peers: What tips and tricks have Holtara and Diversio's clients discovered in preparing for this module?
- Getting prepared: What are the next steps for those within scope?
This webinar will not only aid in understanding ESRS requirements but also in showing how data collection and reporting can be as simple as possible for anyone in scope. This includes ensuring easy traceability for when auditors are required to verify data.
