ESRS Reporting

The European Union’s new Corporate Sustainability Reporting Directive (CSRD), which entered into force in January 2023, and the associated European Sustainability Reporting Standards (ESRS) have initiated a new era in the business world: Being “sustainable” and proving it has now become one of the conditions for doing business with and within the European Union.

The core objective of the CSRD and ESRS standards, as an important part of the European Green Deal, is to ensure that companies’ sustainability performance (e.g., carbon and water footprint, labor rights, etc.) is reported in a more transparent, comparable, and reliable way.

This situation concerns not only EU companies but also Turkish exporters. If you trade with the EU or are part of the “value chain” of your EU-based customers or partners, the CSRD and ESRS impacts your company as well. Your EU customers will begin to request sustainability data from you for their own reporting. Don’t be caught off-guard!

How can we support you?

1. Information and Awareness Raising Trainings

The first step to success is for the topic to be understood by both your company’s managers and employees.

To this end, we offer ESRS training tailored to you and your team, enriched with numerous examples and sectoral case studies. By examining best reporting practices, we ensure you understand not only the legislation but also the actual implementation.

2. Internal Coordination and Collaboration

ESRS reporting is not the job of just one department; it is a process that requires all units of the company to take action, collect, and share data. Processes such as stakeholder engagement and double materiality analysis specifically require the participation of staff from all departments in your company.

Why is Management Critical? The support of senior management for the sustainability process is vital for demonstrating commitment, accurately directing resources (time, budget, human resources), and assuming ultimate responsibility for the report.

Why Must Accounting Be Involved? The participation of you company’s finance and accounting department is essential for the integration of financial and non-financial data, data accuracy, auditability, and financial impact analyses.

Why Must Human Resources (HR) Be Involved? Social metrics (employee rights, diversity, training, occupational health and safety, etc.) are a significant part of the reporting, and the HR departments are typically the source of this data.

Operations, IT, and Other Departments: Processes, circular economy and environmental data, IT infrastructure, and other operational details must be integrated into the process.

As 10k Consulting, we foster internal collaboration by organizing workshops tailored to your company and its units, and we jointly manage your stakeholder analysis and double materiality analysis processes. This ensures your report is built on solid foundations right from the start.

3. Data Collection – Reliable and Continuous Data Flow

ESRS reporting requires working not only with data but with data that is reliable, verifiable, reproducible, and auditable.

As 10k Consulting, we help you determine the necessary disclosure topics and data based on the results of your double materiality analysis, and establish the required systems and processes for the regular, continuous, and accurate collection of this data in the correct formats. By improving your data quality, we enable you to streamline your reporting process and prepare for external assurance audits – which also constitute a mandatory requirement for sustainability reporting under ESRS.

4. Preparation and Publication of the Report

Converting the collected data into a report in a format compliant with ESRS standards, with transparency, clarity, and sufficient detail, requires expertise.

As 10k Consulting, we work collaboratively with your team to analyze the collected data according to ESRS standards and prepare your report. We ensure that the report’s language, format, and content meet all the requirements.