CFOs should take an interest in sustainability reporting, as its digitalisation leads to significant savings, says Sanna Perkiö, Chair of the Board at Ecobio. CFOs and CEOs of companies employing over 250 people or with a turnover of €50 million will soon face new requirements. There is a lack of expertise, and costs are increasing. …
EU Biodiversity Strategy 2030
The EU’s biodiversity strategy is a central part of the European Green Deal (Green Deal), the goal of which is to turn EU to a climate neutral continent. The goal is to protect at least 30% of the EU’s land and sea areas, restore weakened ecosystems throughout the EU by 2030, plant 3 billion trees …
GHG Protocol – An International Standard for Measuring and Reporting Corporate Greenhouse Gas Emissions
The Greenhouse Gas Protocol, or GHG Protocol, is the most widely used international method for measuring and reporting greenhouse gas emissions. According to this method, emissions are divided into three different categories: Scope 1, Scope 2, and Scope 3. The classification according to the GHG Protocol reduces the risk of double counting between emission calculations …
What are scope 3 emissions and why are they important?
Scope 3 emissions is the third emission category of the GHG protocol. The GHG protocol (Greenhouse Gas Protocol) is the most used standard for measuring and reporting greenhouse emissions, where emissions are divided into three different categories: scope 1, scope 2 and scope 3. A large part of the company’s climate impact consists of greenhouse …
What are scope 2 emissions and why are they important?
Scope 2 emissions form a significant part of the climate impacts of the company’s own operations. They cover the indirect emissions of energy production, which arise because of purchased and consumed energy production. The emissions are part of the greenhouse emissions inventory according to the GHG Protocol (Greenhouse Gas Protocol) measurement and reporting standard. The …
What are Scope 1 emissions and why are they important?
Scope 1 emissions are part of the greenhouse emissions inventory according to the measurement and reporting standard of the GHG protocol (Greenhouse Gas Protocol). A large part of the company’s climate impact consists of greenhouse gas emissions, of which the most significant are carbon dioxide (CO2), methane (CH4) and nitrous oxide (N2O) emissions. The most …
What does scope 1, 2 and 3 emissions mean?
The most internationally used standard for measuring and reporting greenhouse emissions is the GHG protocol (Greenhouse Gas Protocol), where emissions are divided into three different categories: scope 1, scope 2 and scope 3. When reporting on the climate impacts of business operations, it is customary to classify emissions into scope 1, 2 and 3 categories …
Materiality assessment creates the foundation for Responsibility Goals and Sustainability Reporting
The Materiality Assessment tells about the sustainability risks to which the company is exposed, as well as the effects of the company’s own operations on people and the environment. The materiality assessment helps to understand the most significant activities related to responsibility for the company and to identify the issues that have a key impact …
Corporate Sustainability Reporting Directive (CSRD) explained
Corporate Sustainability Reporting Directive (CSRD) is in action since January 2023. CSRD will strengthen and standardize the rules for how companies are required to report on their social and environmental activities and their impact on people and the planet. Currently Corporate Sustainability Reporting Directive impacts approximately 50 000 companies in Europe. CSRD timeline and what to …
A four-week feedback period on the first set of Sustainability Reporting Standards has been launched
The EU Commission launched a four week feedback period on the first set of Sustainability Reporting Standards. The feedback period lasts from 9th of June to 7th of July 2023. These mandatory Reporting Standards aim to ensure that companies are fully transparent about their impact on people and the environment. The standards will also …