Services

An audit includes an assessment of data collection processes and the methodology of the double materiality assessment, and a review of the presented environmental, social and governance (ESG) indicators for accuracy. The review is performed by a competent auditor who issues a final report with an opinion about the level of compliance with the ESRS requirements, which enhances the information’s credibility for investors, regulators and the public.

The service involving a confirmation of the duty to prepare the sustainability report in compliance with the CSRD (Corporate Sustainability Reporting Directive) provides firms with a clear opinion on whether the duty to disclose sustainability information applies to them. It includes an assessment of the company’s size, turnover and headcount against the CSRD criteria. This service helps companies to identify regulatory requirements and to get ready to meet statutory duties in the field of the ESG reporting, thus minimising the risk of failure to meet legislative requirements.

Deliverable: a confirmation whether the entity is required to comply with the CSRD duty.

The double materiality analysis includes an assessment of financial materiality of sustainability implications for an enterprise and, at the same time, of the impact a firm’s operation has on the society and the environment. This comprehensive methodology guarantees compliance with the ESRS requirements and makes preparation of the sustainability reporting easier.

This service includes the following services provided by CHCZ:

(a)      An analysis of the entity from the perspective of its operation;

(b)      Identification of relevant stakeholders;

(c)       A materiality workshop; and

(d)      Identification of topics and a subsequent evaluation thereof in terms of materiality.

Deliverable: a DMA analysis + the relevant requirements for disclosure in the sustainability report.

This service includes the following services provided by CHCZ:

1. An assessment of the existing reporting:

• What sustainability information is currently disclosed by the organisation?

2. Double materiality:

• Has a double materiality analysis been performed (an analysis of the organisation’s impacts on the community and of financial materiality)?
• Are material topics properly defined?

3. An analysis of mandatory disclosures under the ESRS:

• Does the firm comply with the requirements for general information (ESRS 2)?
• Have all required environmental (E), social (S) and governance (G) indicators been covered?

4. Management and responsibilities:

• Has the company defined responsibilities of the company’s management for sustainability reporting?
• Has the company implemented controls for data collection and review?

5. Data quality:

• Are data complete, accurate and consistent?

6. Gap identification:

• Which ESRS requirements have not been covered?
• What areas require a modification or supplementing?

7. Action plan and recommendations:

• Preparation of a timetable of providing for compliance with the ESRS.
• Definition of priorities and responsibilities for the changes’ implementation.

Deliverable: The comprehensive material containing the above sections (a) through (g) can be used in preparing for an audit.

Our service Individualised ESG Advisory is intended for companies in need for professional support in preparing the sustainability report in compliance with the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS). We help firms to efficiently assess and present their ESG impacts, risks and opportunities, to provide for regulatory compliance, and to transparently communicate their sustainability commitments.

Optional services:

1. Initial analysis and understanding of the enterprise’s specifics:
   • An assessment of duties under the CSRD and the ESRS for the particular type of an enterprise; and
   • An analysis of the current sustainability procedures and available data.
2. Double materiality identification and assessment:
   • An analysis of double materiality under the ESRS; and
   • Identification of key ESG topics relevant for your company and stakeholders.
3. Data preparation and collection of information:
   • Setting up processes for collection of ESG data in compliance with the ESRS standards;
   • Defining indicators and key performance indicators (KPIs).
4. Structure and content of the sustainability report:
   • Assistance in preparing individual sections of the report in compliance with the ESRS:
     • Environmental factors (E): e.g. emissions, biodiversity, energy consumption;
     • Social factors (S): e.g. working conditions, diversity, human rights; and
     • Governance factors (G): e.g. ethical management and anti-corruption measures.
5. Support in finalising and reviewing the report:
   • Checking compliance with the CSRD and ESRS standards.

If you want to meet the CSRD requirements without unnecessary administrative challenges, our service Individualised ESG Advisory will provide you with expert support in each and every step of preparing the sustainability report.

Relation to the current European Commission’s proposal in the CSRD field (the Omnibus proposal):

The European Commission has proposed a standard for companies that do not fall under the CSRD’s scope under the Omnibus proposal, which can be applied on a voluntary basis and is based on the VSME standard developed by the EFRAG.

If you want to meet the VSME requirements without an excessive administrative burden, our service ESG Reporting under the VSME Standards will bring you expert support in each and every step of preparing a sustainability report.

We help firms not only to comply with the required standards, but also to efficiently and transparently communicate sustainability procedures, thus improving their position in relationships with their business partners.

Service’s content:

1. An analysis of the customer’s requirements:
   • Identification of the ESG requirements and standards specific for the concerned customer (e.g. GRI, CSRD).
2. An evaluation of the existing ESG practices:
   • Identification of areas that fail to comply with the required standards.
3. Proposed ESG strategy and implementation thereof:
   • Development of ESG policies and goals in compliance with customers’ requirements; and
   • Implementation of processes for the collection of data and internal ESG indicator reporting.
4. Reporting and communication with customers:

Support in preparing ESG reports in compliance with a customer’s requirements.

If you want to provide for absolute transparency toward your customers and to comply with the latest ESG standards, our service ESG Reporting Support for Vendors will provide you with a full-package support from an analysis to the final reporting.