There will be significant changes to companies’ reporting obligations. The CSRD requirements extend sustainability reporting to nearly 100,000 companies in Europe, setting new standards for transparency and accountability. According to OP Financial Group’s research, more than 50% of large companies have already changed or plan to change their subcontractors and suppliers in order to meet the new responsibility requirements. This shows how the effects of the directive extend to the entire supply chain, and how companies can take advantage of the situation by improving their own operations and responsibility.
What kind of skills are needed
The changes brought by the directive require companies not only to adopt new reporting standards, but also to have a broader understanding of how sustainability is related to all areas of business. We have launched a CSRD readiness survey with the Taloushallintoliitto (Association of Finnish Accounting Firms), the results of which will help us to understand the sustainability reporting capabilities of Finnish companies, and through that we at Avatars Intelligence will investigate what kind of artificial intelligence-based solutions could best support companies on their sustainability journey.
CSRD brings additional challenges but also creates new business opportunities
Sustainability reporting is not only a mandatory task, but it shows us the way to responsible choices and offers an opportunity to improve brand value, build trust among stakeholders and make business more efficient. CSRD represents a transition towards a more open and sustainable business. It emphasizes the company’s values and ability to face future challenges, which ultimately forms a strong foundation for sustainable growth and international competitive advantage. However, it is essential that the negative effects on the business are minimized at the same time. Together we can turn challenges into opportunities. I’d love to hear your views on challenges and opportunities, and discuss potential use cases for avatars.
You can contact me sending email sanna.varpukari@avatarsintelligence.fi and you can find us on LinkedIn https://www.linkedin.com/company/avatars-intelligence-oy/.
