Copenhagen, 20 June 2023

Companies' reporting will get a significant boost in the coming years in the ESG area. Shortly before Christmas last year, a new EU directive on corporate sustainability reporting (CSRD) (https://finance.ec.europa.eu/capital-markets-union-and-financial-markets/company-reporting-and-auditing/company-reporting/corporate-sustainability-reporting_en) was voted through. A much tighter and more comprehensive set of rules in the area, which must be implemented as early as 2024.

For companies across the EU, this means that the largest companies must already start reporting in the financial year 2024, while the remaining companies and listed SMEs will be covered by the reporting requirements on the environment (including climate), social conditions and business management by 2028 at the latest.

To make life easier in companies across Europe, Impero has just launched a new ground-breaking platform solution:

"The new standards for companies' sustainability reporting are very complex. That is why we have developed a platform solution that is easy and clear, and can be tailored to the needs of individual companies. The actual content of the reporting solution is prepared and maintained by KPMG, so that companies get a rock-solid solution on a clear platform," says Rikke Stampe Skov, CEO of Impero.

"I am extremely pleased that we can already present such a comprehensive solution to a complex reporting area. With our solution, we will eventually open the door to a huge market, as approximately 50,000 companies across Europe must comply with the new guidelines every year."

The new EU directive introduces 12 European sustainability reporting standards and almost 100 disclosure requirements. The complexity makes it difficult for companies to adjust their existing processes and spreadsheets to meet requirements that are continuously evolving.

Impero is just now implementing the first platform solutions in Denmark, but the potential extends far beyond the Danish borders:

"We have worked hard to get a platform solution up and running, which can help companies of all sizes meet the new reporting requirements, including the comprehensive dual materiality analysis, which forms the starting point for which reporting requirements the companies are subject to. In addition to opening opportunities for new customers, the solution complements our existing customers' use of the Impero platform for managing risks and controls related to the ESG area (https://impero.com/reduce-the-complexity-of-managing-esg-risks-and-controls/). It is about ensuring solid documentation of the reporting prior to the increasing scope of audits - exactly as was the case with financial audits. The key element is to increase the quality and efficiency of the companies' overall reporting," emphasizes Rikke Stampe Skov.

For more information on Impero's CSRD platform solution, please visit: impero.com/csrd/