The new EU directive on non-financial reporting will affect hundreds of Slovak companies. Non-financial ESG reporting is nothing new. Several large companies have had to report it since 2018. The new CSRD directive comes into force this year and will gradually affect more than 700 companies, including small and medium-sized enterprises. With the help of smart battery storage, heat recovery systems and photovoltaics, companies can save the environment, energy and at the same time increase competitiveness.

ESG reporting at the financial reporting level?

The aim of ESG reporting is to increase the transparency of a company in the area of the environment, corporate social responsibility and strategic corporate governance. For example, the company's waste management, fossil fuel consumption, compliance with human rights and ethics in the workplace and anti-corruption mechanisms of the company are monitored. The information serves as a good springboard for improving sustainability in the company. However, reporting ESG data should not be underestimated, as it can influence the decisions of investors and banks about financing the company. (more on financialnews.com)