Why companies need ESG software for their ESRS reporting

Last updated: 7th July 2023

Why do companies need ESG software for their ESRS reporting and when should they start collecting data? Felicia Gustafson, Product Manager & ESG Solutions Team Lead at Position Green, walks you through the key benefits of ESG software and a full-cycle solution.

Why do companies need ESG software for their ESRS reporting?

Companies subject to the Corporate Sustainability Reporting Directive (CSRD) will have to report according to the European Sustainability Reporting Standards (ESRS). The reporting standards require companies to pay even more attention to traceability and transparency throughout the reporting process due to the limited assurance requirement.

ESRS also increases the amount of data points that you need to gather for your sustainability report. This requires you to have well-developed processes for collecting and managing data within the organisation. ESRS comes with clear guidelines on how you need to structure your management report. Position Green’s ESG software provides a digital solution to efficiently collect, analyse and report all sustainability data in line with the ESRS requirements.

What are the key benefits of using Position Green’s full-cycle solution?

Regardless of where you are on your CSRD and ESRS journey, the experts at Position Green can support you with analysis, training and a digital solution. We at Position Green provide both tailored technical solutions and expert advisory services to help you cut through the complexities of the CSRD and ESRS and fuel your transformation journey.

When should companies start collecting data using ESG software?

There will be a gradual implementation of the ESRS depending on the size of the company. However, tracking and gathering the relevant data does take time. So even if you are not required to publish a report until 2026 or 2028, you should already get started.

We recommend you start with: 

  1. Double Materiality Assessment to define what your organisation should report on going forward
  2. Gap analysis to understand the baseline
  3. Train and engage your organisation
  4. Build processes and set up a system for data collection

Learn more about our ESG software

N.B. The information contained in this entry is provided by the above supplier, and does not necessarily reflect the views and opinions of the publisher

Action inspires action. Stay ahead of the curve with sustainability and energy newsletters from edie