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For companies, billions in additional annual costs from EU sustainability reporting – a fresh Finnish solution reduces costs by up to half

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.

Even companies of this size in the EU will have to collect data on their environmental and social impacts much more accurately from the beginning of next year – and report them by 2026. In Finland, the new EU Corporate Sustainability Reporting Directive (CSRD) imposes new obligations on up to 800 companies.

The EU’s sustainability directive lists 84 reporting requirements and over 1100 data points. The total administrative costs for the first reporting for large companies in the EU will be approximately €1.7 billion in initial costs and €1.9 billion annually in recurring costs. Additionally, companies must verify reports by an external auditor, which is estimated to result in up to €4 billion in additional annual costs. Verification costs will increase in the future.

“I see that estimate as conservative. Costs can also be much higher,” says Dr. Sanna Perkiö, who has worked in environmental and sustainability consulting for decades.

The first complete solution for CSRD reporting keeps reporting costs in check and complies with laws and regulations

Ecobio unveiled a comprehensive solution for EU sustainability reporting on Tuesday, March 5th. With a new extension of Ecobio Manager software, mandatory new reporting costs can drop by up to half. This is reportedly the first such comprehensive CSRD reporting solution in the whole of Europe. New reporting requirements can bring a company with a turnover of a hundred million euros reporting costs of a million euros, resulting in savings of half a million euros annually. Read more about Ecobio Manager’s CSRD reporting comprehensive solution here.

“It’s probably not a good idea to permanently use expensive audit consultants, clumsy accounting systems, or your own Excel setups, but rather use software specifically developed for managing over 1000 data points for CSRD reporting, utilising artificial intelligence, which stores the data in the cloud. Now is the time to digitise reporting,” says Sanna Perkiö.

Ecobio Manager has 10,000 users in all Nordic countries, Estonia, and Germany. Client companies can input the necessary sustainability reporting data into the software themselves, as the continuously updated Ecobio Manager always contains the latest environmental requirements and legal databases. The annual sustainability report is generated through an efficient writing process in the system and with compiled data. Information is readily available even if the company’s environmental or sustainability experts change.

For more information:

Sanna Perkiö, Chair of the Board, Ecobio Oy

050 563 6651


Ecobio Oy provides expert services in sustainable development and the Ecobio Manager cloud service for business. We are the oldest consultancy specialized in environmental management and sustainable development in the Nordics. We have been awarded twice for our innovation. We have successfully implemented many novelty projects for demanding clients since 1989.

Ecobio – we help you balance business and nature.

The 2023 IPCC AR6 Synthesis Report: a final wake-up call for Climate Action

The Intergovernmental Panel on Climate Change (IPCC) has released its latest report on the state of the planet’s climate “2023 IPCC AR6 Synthesis Report “. The report, which was compiled by hundreds of scientists from around the world, provides a stark warning about the urgent need to address the climate crisis.

The report concludes that human activity, particularly the burning of fossil fuels, is driving unprecedented changes in the Earth’s climate system, resulting in rising temperatures, sea level rise, and more frequent and intense weather events. These changes significantly impact ecosystems, food systems, and human health and well-being.

The 2023 IPCC AR6 Synthesis Report – Key Findings:

The earth is warming at an unprecedented rate

Human influence has warmed the climate at an unprecedented rate in the 21st century, and the current warming is highly likely to exceed 1.5°C above pre-industrial levels in the next two decades. Limiting global warming to 1.5°C above pre-industrial levels will require rapid, far-reaching, and unprecedented changes in all aspects of society, including the energy, land, and industrial sectors.

Immediate, rapid, and large-scale reductions in greenhouse gas emissions are needed to limit global warming to 1.5°C and mitigate the worst impacts of climate change. Adapting to the impacts of climate change is also essential, particularly for vulnerable communities and ecosystems.

The impacts of climate change are already being felt around the world.

The report highlights that climate change is not some far-off threat, but rather a present-day reality that is already having significant impacts on people and the planet. These impacts include more frequent and severe heatwaves, droughts, floods, and wildfires, as well as rising sea levels and ocean acidification.

There is a narrow window of opportunity to prevent the worst impacts of climate change.

Despite the bleak picture painted by the report, there is still hope. The report notes that we still have a narrow window of opportunity to prevent the worst impacts of climate change. However, this will require immediate and decisive action from governments, businesses, and individuals around the world.

The 2023 IPCC AR6 Synthesis Report was released in March 2023. Read this short summary of key findings from the report!

The message of the IPCC report is clear for business managers like you 

One of the report’s key messages is that the world is already experiencing the impacts of climate change which will only worsen in the coming decades, even if we take immediate and ambitious action to reduce greenhouse gas emissions.

However, the report also emphasises that the worst impacts of climate change can still be avoided if we act quickly and decisively to limit global warming to 1.5°C above pre-industrial levels. For the business sector, this means that management must prioritise sustainability and invest in renewable energy and low-carbon technologies.

For sustainable business operations, it is essential to conduct a comprehensive risk assessment for adapting to climate change.

  1. Reducing emissions is an absolute requirement for a company’s business operations and throughout the value chain (scope 1, 2, 3). It is recommended that corporate management set science-based climate goals on their agenda already this spring.
  2. Considering biodiversity alongside climate goals is equally important in developing a company’s sustainability strategy. Companies should identify how their operations affect biodiversity and make a plan to minimise those impacts.

Lastly, the scientific evidence presented in the IPCC report reinforces the ambitious requirements already adopted by the EU for complying with the climate goals of the Paris Agreement. Limiting global warming to 1.5 degrees Celsius also requires companies to take action to reduce emissions across all economic sectors.

The IPCC report is a wake-up call for all of us

We must act now to address the climate crisis before it’s too late. Here are some things you can do to help:

  • Reduce your company’s carbon footprint by investing in energy-efficient technologies, using renewable energy sources, and implementing sustainable business practices.
  • Support political candidates and policies prioritising climate action and promoting a sustainable business environment.
  • Join a local climate organization or advocacy group to collaborate with like-minded businesses and individuals and advance the movement for climate justice.
  • Educate your employees and customers on the importance of sustainable practices and the impact of climate change and encourage them to adopt environmentally responsible behaviours.
  • Take part in industry-wide initiatives to reduce carbon emissions and promote sustainable business practices, such as participating in carbon markets or joining industry associations dedicated to climate action. Such as Science-based targets.


Together, we can create a sustainable and just future for ourselves and future generations.

To continue this conversation, send us an email via the form below.

    Writer: Terhi Valtonen, Senior sustainability consultant, M.sc. (Admin)

    IPCC 2023 AR6 Longer report

    Four new hazardous chemicals added to the SVHC Candidate List

    Four new hazardous chemicals added to the SVHC Candidate List

    Four new hazardous chemicals added to the SVHC Candidate List

    ECHA has added four new entries to the Candidate List of substances of very high concern on 17 January 2022. Substances of Very High Concern (SVHC) may have serious and often irreversible effects on human health and the environment. There are currently 223 substances or groups of chemicals on the SVHC Candidate List.

    Newly added substances are used in products such as cosmetics, rubbers, lubricants, and sealants. The substances have been added to the Candidate List due to their hazardous properties to human health or the environment.

    Hazardous chemicals added to the Candidate List

    Substance EC/CAS number Uses Reason for proposing
    6,6′-di-tert-butyl-2,2′-methylenedi-p-cresol EC 204-327-1, CAS 119-47-1


    Rubbers, lubricants, adhesives, inks, fuels Toxic for reproduction

    (Article 57 c)

    tris(2-methoxyethoxy)vinylsilane EC 213-934-0,

    CAS 1067-53-4

    Rubbers, plastics, sealants Toxic for reproduction

    (Article 57 c)

    (±)-1,7,7-trimethyl-3-[(4-methylphenyl)methylene]bicyclo[2.2.1]heptan-2-one covering any of the individual isomers and/or combinations thereof (4-MBC) Cosmetics Endocrine disrupting properties (Article 57 f – human health)
    S-(tricyclo(,6)deca-3-en-8(or 9)-yl O-(isopropyl or isobutyl or 2-ethylhexyl) O-(isopropyl or isobutyl or 2-ethylhexyl) phosphorodithioate EC 401-850-9,

    CAS 255881-94-8

    Lubricants, greases PBT (Article 57 d)


    Obligations related to SVHC

    Companies have legal obligations if a substance included in the Candidate List is present in a concentration above 0.1% w/w. Obligations include:

    • Providing Safety Data Sheets for substances on their own and substances in mixtures containing SVHCs
    • Requirement to notify ECHA under REACH if an article contains a SVHC
    • Requirement to inform customers and consumers under REACH if an article contains a SVHC to allow safe use of the article
    • Requirement to notify ECHA under the Waste Framework Directive (SCIP Database) about articles containing SVHCs

    Companies that are importing, producing, selling, or using substances, their mixtures, or articles (components, materials) containing SVHCs should keep an eye on the substances added to the Candidate List. Substances are regularly being added to the list. It is also recommended for companies to start looking for substitutes for the added substances already. Substances on the Candidate List may also be placed on the Authorisation List in the future, which means that continuing the use would need a permission.

    Do you need help with chemical management?

    Our experienced chemical consultants will assist you in meeting your chemical requirements. Furthermore, our Ecobio Manager SaaS-service will help you manage your chemicals and ensure compliance with global regulations. Interested? Contact us today!

    Contact: info@ecobio.fi

    Text: Mikael Hirn

    Image: Unsplash


    ECHA: Four hazardous chemicals added to the Candidate List.

    TUKES: Erityistä huolta aiheuttavat aineet (SVHC).