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Corporate Social Responsibility (CSR) reporting has recently become mandatory for capital market-oriented companies. For many other companies, CSR is already part of their external image and internally a tool for better managing these essential issues. 4C GROUP is convinced that reporting on social and ecological issues will play an even more central role for corporate management in the future. Since we take our social responsibility seriously, this topic is also very important to us.

Overview
Requirements
CSR Focus Areas

What is the CSR reporting obligation and who is affected by it?

The EU Directive (2014/95/EU) and the corresponding CSR Directive Implementation Act (CSR-RUG) provide the legal basis for CSR reporting in Germany. Certain companies are obliged to publish non-financial information on Corporate Social Responsibility (CSR). The CSR report is intended to inform stakeholders about the company's strategies and progress in the areas of economy, ecology and social affairs. According to CS-RUG, the reporting obligation covers corporations (§ 289b para. 1 HGB), partnerships and cooperatives with limited liability, as well as credit institutions and insurance companies classified as large, capital market-oriented and employing an average of more than 500 people.

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What are the requirements for CSR reporting?

The CSR Directive Implementation Act does not provide any concrete information regarding content and scope. The law prescribes only five different aspects with examples to which the CSR report must refer:

  1. Description of the business model
  2. Environmental matters, such as information on greenhouse gas emissions, water consumption, air pollution, use of renewable and non-renewable energy sources or the protection of biodiversity
  3. Employee matters, such as information on measures taken to ensure gender equality; working conditions; implementation of the basic conventions of the International Labour Organisation; respect for workers' rights to be informed and consulted; social dialogue; respect for trade union rights; health and safety at work
  4. Social matters, such as information on dialogue at local or regional level or on measures taken to ensure the protection and development of local communities
  5. Respect for human rights, such as information on the prevention of human rights violations and combating corruption and bribery

In addition to the guideline, the German Sustainability Code (DNK) provides orientation with regard to the content. The Code deals with 20 different topics ranging from strategy, the use of natural resources and resource management to legally compliant behaviour.

 

 

Business model

  • Success of the business model as measured by economic performance
  • (Local) market presence
  • Sustainability of the business model

Social responsibility

  • Employee training
  • Working conditions, human rights, and living conditions
  • Interaction between product/service and society
  • General social responsibility, especially at the sites

Ecological responsibility

  • Consumption and recycling of resources (raw materials, water, energy) through operating activities and products in the lifecycle
  • Environmental impact (emissions, waste water, waste, noise) through operational activity and products in the lifecycle
  • Impact on or promotion of biodiversity

 

 

Challenges

What are the Main Challenges of CSR Reporting for Companies?

In addition to the directive, the German Sustainability Code (DNK) provides guidance on the content design. The code addresses 20 different fields, ranging from strategy, utilization of natural resources, and resource management to lawful conduct.

From the standards for CSR reporting, two fundamental challenges arise for companies:

Non-Financial CSR Data

CSR reporting is non-financial in nature. Information on the various issues, such as the reduction of the CO2 footprint and social commitment to local communities, is not directly available in the systems.

Different CSR Areas

The CSR report summarizes sustainability focused on the environment and social commitment to society. However, the two areas are fundamentally different both in terms of content and from a management perspective.

The extent to which aspects of social and ecological impact are or must be integrated into a company's normal strategy and target setting process must be examined on a case-by-case basis. The focus of the documented guidelines is on implementation. However, this can only be promoted systematically if the focus areas are integrated into the management system.


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Our Approach

How can CSR reporting be used as an opportunity?

Companies can regard CSR reporting as a duty and compile the information annually or deal with the content of the topics. The situation is very similar to that of ISO certification many years ago. In the meantime, most companies have incorporated quality management into their regular management processes. Fulfilling the CSR guideline is therefore both a challenge and an opportunity. The guideline deliberately leaves companies room to work out the material topics for them and to set the individual focus. Systematically integrating this into "regular" reporting and planning should also avoid "nasty" surprises, which can always occur if unmanaged topics are to be prepared once a year for external presentation.

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Client Testimonials

“
"The collaboration with the 4C GROUP in the context of the ESG reporting tool was pleasant and professional. The in-depth professional and technical expertise of the team and the ability to proactively integrate the latest developments at all times should be emphasised in particular. Even in a dynamically developing project environment, we were able to rely on the competent support and dependability of the 4C GROUP at all times."

Lukas Mangold, Manager Sustainability | AURELIUS Portfolio Management AG

“

In Focus

CSRD Reporting: More Transparency and Sustainability

The Corporate Sustainability Reporting Directive (CSRD) will expand the existing requirements of the Non-Financial Reporting Directive (NFRD) starting in 2024. Companies will be required to report more comprehensively and in a standardized manner on environmental, social, and governance (ESG) aspects. This now also applies to numerous medium-sized enterprises. The goal of the CSRD is to make sustainability data comparable and reliable, enabling stakeholders and investors to make informed decisions.

Leverage these new requirements as an opportunity to further develop your sustainability strategy and secure long-term competitive advantages. As an experienced management consultancy, we are here to support you in implementing the CSRD-together, we will ensure your future readiness!

This is an embedded YouTube video which activates when you click on the play button.

EU Corporate Sustainability Reporting Directive - Opportunity or Compliance Challenge?

This discussion for executives addresses the new EU law and its strategies for board members, asset management, marketing, sales, and HR. The one-hour session with four experts demonstrates how the law can be viewed as an opportunity or a compliance issue and emphasizes the importance of smart compliance to save costs. It covers the impacts of the CSRD, adaptation strategies, human capital standards, and audits.

Learn more in our article or contact us for assistance with implementing the CSRD.

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Insights

Download
4C Whitepaper: CSR reporting - legal requirements and strategic use

Discover now how you can use CSR effectively and generate added value. Read now!

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Download
4C Study: Thesis Paper CSR Reporting

Discover in our new study and position paper on CSR reporting how companies are learning to optimize their CSR reports through their own experiences. Learn about the motivations behind these reports and prepare for the key issues that will be crucial for successful reporting in the future.

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Download
4C E-Booklet: Diversity, a real lever for top performance in a volatile world!

Discover in our e-booklet how diversity can act as a real lever for top performance in a volatile world. Learn to understand diversity as a business case and successfully integrate it into your HR work using an effective framework.

Download PDF
Download
4C Whitepaper: Integrated Reporting

Discover why Integrated Reporting is more than just a passing trend-it's the future of corporate reporting. Learn about its benefits and practical implementation.

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Our experts for CSR reporting

 

Stephan Grunwald

Senior Partner

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Dr. Heiko Mauterer

Senior Partner

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Thank you for your trust. We look forward to hearing from you.

 

 

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