ESG Practices: How Top EU Companies Are Adapting to New Standards
A study of non-financial reporting practices among 30 leading EU and UK companies for 2022–2024 has revealed fundamental changes in approaches to sustainability disclosure. Experts are documenting qualitative shifts that provide Ukrainian businesses with clear benchmarks for preparing for future requirements.
A detailed analysis of practices from 30 leading EU and UK companies for 2022–2024 is presented in a special study that includes concrete examples of reports with screenshots and fragments of actual documents.
"We are observing a real transformation of corporate reporting in Europe. Companies are not just formally adapting to the new CSRD/ESRS standards, but fundamentally rethinking the structure of their reports," comments Oleksiy Yatsiuk, ESG expert at the Green Transition Office under the Ministry of Economy of Ukraine.
The study results show that before full implementation of ESRS standards, most companies used voluntary frameworks. The dominant one was GRI Standards, which they applied either as a complete foundation or in combination with other standards — SASB, TCFD, UNGC, SDG.
In reports for 2023–2024, a structural transformation is noticeable: companies began adapting to CSRD/ESRS requirements, evidenced not only by formal statements but also by the appearance of structured sections tied to ESRS topics and subtopics, expanded quantitative disclosure, double materiality, and justification for indicator selection.
Researchers paid special attention to analyzing disclosure according to key standards. Companies report most comprehensively on ESRS E1 (Climate Change), ESRS S1 (Own Workforce), and ESRS G1 (Business Ethics). According to the analysis, 24 out of 30 studied companies actively disclose information about their own workforce, making this the most popular topic.
Alongside ESRS adaptation, companies are actively implementing EU Taxonomy requirements. Most companies in the sample report according to the Taxonomy: they provide structured information about CapEx, OpEx, and turnover volumes that meet sustainable activity criteria in table format, accompanied by methodological explanations.
External assurance is becoming a critically important element of the new reporting ecosystem. From 2024, companies covered by CSRD are required to ensure limited assurance of their non-financial disclosures. The ISAE 3000 standard is most commonly used, although several audit firms are already beginning to prepare for transition to the new ISSA 5000 standard.
The CSRD directive provides for transition from limited assurance to reasonable assurance by 2028, although the Omnibus regulatory package may cancel such transition.
The reviewed companies have a long history of sustainability reporting and demonstrate a high level of preparedness for the new regulatory environment. Their reporting contains a comprehensive set of environmental, social, and governance data based on measurable metrics.
"Studying the reporting experience of leading EU companies enables Ukrainian stakeholders to prepare for implementing national sustainability reporting requirements, identify their own gaps in sustainable transformation processes and readiness for disclosure," summarizes Oleksiy Yatsiuk.
The study provides detailed analysis of the ESG reporting system using concrete examples from European companies, including fragments of actual reports and screenshots. Based on this analysis, key reporting trends are identified and best practices are demonstrated, particularly in areas of climate risks, greenhouse gas emissions, energy consumption, workforce management, and business ethics.
It is important to ensure compliance not only with report content but also their structure, language, presentation format, including integration of non-financial indicators into management reporting and strategic documents.
The complete study with detailed analysis of practices from 30 leading European companies will be a useful resource for Ukrainian business practitioners, consultants, and companies planning to implement ESG reporting. The material contains concrete examples, report screenshots, and step-by-step recommendations for adapting European experience to Ukrainian realities.
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