ESG

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Sustainability as an Opportunity

Sustainability is no longer just a trend - it's the future of business. For organisations looking to grow in an ever-changing world, sustainability has become a key pillar. It encompasses not only environmental considerations, but also social responsibility and economic resilience.  

BDO's goal is to simplify the sustainability process towards credible and sustainable business practices through a pragmatic, customized total solution.

Sustainable business

  • E

    Environmental

    Environmental area

    • Energy consumption
    • Greenhouse gas emissions
    • Protection of water resources
    • Promoting biodiversity
    • Pollution and waste management

  • S

    Social

    Social aspects

    • Working conditions, non-discrimination and equal opportunities
    • Health and safety at work
    • Protection of human rights
    • Supplier-customer relations
    • Product responsibility
    • Local communities

  • G

    Governance

    Management of organisations

    • Corporate governance and behaviour
    • Corporate culture
    • Ethics Line
    • Anti-corruption measures

We offer comprehensive ESG services

BDO experts can help you develop or improve your ESG strategy, policy and reporting. 

It is already evident that companies that do not reflect developments in the field of sustainability in Europe, will cease to be not only in Europe over the next few years competitive.

Decarbonisation and ensuring sustainable supply chains are key areas where companies should take concrete steps towards sustainability.

Who is affected by mandatory data reporting and from when

Reporting of non-financial data is based on the CSRD, which refers to the ESRB reporting standards.


Scope
Publication of the report    

NFRD

2017

2018
  • Banks, insurance companies and listed companies with more than 500 employees
CSRD

2024

2025
  • Companies within the scope of the NFRD

2025

2026
  • Large companies and subsidiaries of parent companies of a large group exceeding at least 2 of the 3 criteria (net turnover of EUR 50 million, average number of employees during the financial year of 250, net assets of EUR 25 million) at the balance sheet date

2026

2027
  • Listed SMEs (possible exception 2 years)

2028

2029
  • Consolidated reporting for non-EU groups
  • Companies with a net turnover of more than €100 million and at least one subsidiary or branch in the EU  

From 2024 limited assurance

From 2028 reasonable assurance

ESG reporting under the CSRD brings several significant benefits to companies

Attractiveness on the labour market and strengthening relations with stakeholders
Employee satisfaction, reduced turnover
Streamlining production/ processes/ technologies
Reduction of costs for energy, water, waste, etc..
Reputation and brand image
Social expectations
Compliance
Managing risks and opportunities
New business opportunities
New sustainable products and services
Maintaining competitiveness
Attractiveness - basic conditions for business partners
More advantageous financing
Green loans, green bonds, subsidies
Sustainability
Preserving the quality of life and needs of present and future generations

It is quite difficult for companies to follow the exact development of European legislation in sustainability and reporting. We'll help you get your bearings, where your company stands in this area and what are the most advantageous ways for you to harmonise your business.

CSRD firms will report according to ESRS standards

What is the procedure?
  1. Identification of risks, opportunities and impacts (positive/negative) for sub-areas E, S and G.
  2. Based on the determination of the significance of risks, opportunities and impacts, the identification of significant themes.
  3. Collecting data for initial reporting and identifying gaps.
  4. Reporting in full compliance with ESRS standards.
  5. Conversion of the report into the uniform electronic format XHTML (ESEF).

Benefits of responsible business

Competitive advantages
For more than 50% of Czechs, corporate social responsibility can influence their purchasing decisions (Ipsos, 2020), and up to 65% of Czechs are willing to pay extra for a socially responsible product.
Advantages on the labour market
Whether an employer behaves in a socially responsible way is important to up to 78% of people (Ipsps, 2019), and 94% of current university graduates.
Supply chains
Large companies assess the sustainability of their subcontractors - sustainable preferences.
Green financing
The banking sector must give preference to lending to sustainable companies.

ESG reporting

Based on the CSRD, from 2025 all large companies (meeting at least 2 of the 3 conditions) will have to report their non-financial sustainability data based on a materiality assessment in addition to their traditional financial statements. 

Conditions: 

  • 250 + employees
  • Turnover 50 million EUR +
  • Assets EUR 25 million

Large companies already require sustainability information from their suppliers, and it is clear that in the future, those companies that communicate their ESG issues transparently, not only to their business partners, will be favoured.


A properly integrated annual report will show your shareholders and other stakeholders how your business model and strategy can add value for them.



Our ESG services

BDO experts have the knowledge and experience to help you develop or improve your ESG strategy, policy and reporting.

Main contact person

.

Stanislav Klika

Director, Head of Risk advisory services
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