{
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  "sources": ["ssg:https://framerusercontent.com/modules/auTD19hDaK6Gj7oa1CX1/vQJ3tZvQkzJk5EuNEjlR/HpqY_geCm-2.js"],
  "sourcesContent": ["import{jsx as e,jsxs as t}from\"react/jsx-runtime\";import{Link as i}from\"framer\";import{motion as n}from\"framer-motion\";import*as r from\"react\";export const richText=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(i,{href:\"https://www.notion.vc/\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Notion Capital\"})}),\", a forward-thinking venture capital firm, has integrated ESG principles into its investment strategy, not just as a compliance measure, but as a strategic advantage.\"]}),/*#__PURE__*/e(\"p\",{children:\"At Notion Capital, the belief is clear: diversity of thought leads to better business outcomes, and companies that embed ESG principles early will have greater access to funding and higher valuations in the long run. Beyond financial considerations, Notion Capital sees ESG as a responsibility: everyone, including investors, plays a role in addressing today\u2019s climate challenges.\"}),/*#__PURE__*/e(\"h2\",{children:\"How Notion Capital Embeds ESG into Its Investment Approach\"}),/*#__PURE__*/e(\"p\",{children:\"As a VC, Notion Capital is actively shaping how ESG is implemented across its portfolio. Rather than treating it as an afterthought, the team ensures that ESG is built into their investment process and startup support framework.\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Providing guidance on ESG best practices\"}),\" \u2013 Notion Capital works closely with its portfolio companies to highlight key ESG considerations that should be embedded in their business models.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Driving its Net Zero 2030 pledge\"}),\" \u2013 This ambitious initiative supports portfolio companies in measuring their carbon footprint, identifying reduction strategies, and selecting credible offset providers.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Using structured ESG data collection\"}),\" \u2013 Notion Capital utilizes the ESG_VC template to establish a baseline for ESG reporting. This enables the VC to assess ESG risks and opportunities across its portfolio and share best practices among companies.\"]})})]}),/*#__PURE__*/t(\"h2\",{children:[\"Why VCs Should Lead in ESG,\",/*#__PURE__*/e(\"br\",{}),\"Not Just Climate-Focused Funds\"]}),/*#__PURE__*/e(\"p\",{children:\"For Notion Capital, ESG is not just about sustainability. It\u2019s about shaping the future of venture capital. The firm strongly believes that VCs, as early-stage investors, are in a unique position to influence startups when it matters most. By adopting ESG principles early, startups can strengthen trust, navigate risks more effectively, and secure long-term advantages in both operational resilience and investor appeal.\"}),/*#__PURE__*/e(\"p\",{children:\"Many VCs assume that ESG is only relevant for climate-focused funds. Notion Capital challenges this perspective by demonstrating how ESG considerations can enhance value creation across industries. Better ESG performance can improve access to capital, create operational efficiencies, and mitigate risks.\"}),/*#__PURE__*/e(\"h2\",{children:\"Challenges in Implementing ESG in Venture Capital\"}),/*#__PURE__*/e(\"p\",{children:\"While Notion Capital has made great strides in ESG, the journey hasn\u2019t been without challenges. In the early stages, one of the biggest hurdles was securing stakeholder buy-in. Convincing founders and investors that ESG is not a distraction from growth, but a fundamental driver of success, took time.\"}),/*#__PURE__*/e(\"blockquote\",{children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"em\",{children:'\"There is always the conflict between building great companies and spending time on ESG, but once you realize the two aren\u2019t mutually exclusive, buy-in becomes much easier.\" '}),/*#__PURE__*/e(\"br\",{}),\"\u2014 Ian Milbourn, General Partner & CFO, Notion Capital\"]})}),/*#__PURE__*/e(\"p\",{children:\"Additionally, balancing ESG priorities with the fast-paced nature of startup building was another challenge. Founders often worry that ESG compliance will be time-consuming. However, once they see that ESG can be embedded into their strategy without slowing them down, their perception shifts.\"}),/*#__PURE__*/e(\"h2\",{children:\"Key Learnings from Notion Capital\u2019s ESG Strategy\"}),/*#__PURE__*/e(\"p\",{children:\"Over time, Notion Capital has refined its ESG approach and identified key takeaways:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"ESG can drive capital access \"}),\"\u2013 Notion Capital has observed that companies demonstrating strong ESG commitments are often better positioned to attract funding from institutional investors.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Diversity & Inclusion awareness has improved\"}),\" \u2013 By promoting D&I across its portfolio, Notion Capital has helped startups build stronger, more resilient teams.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"A structured ESG framework is essential\"}),\" \u2013 The VC has developed a sustainability framework that enables portfolio companies to map their path to Net Zero, identify potential reduction strategies, and calculate offsetting costs.\"]})})]}),/*#__PURE__*/t(\"h2\",{children:[\"Reducing Carbon Footprint: \",/*#__PURE__*/e(\"br\",{}),\"Notion Capital\u2019s Net Zero Efforts\"]}),/*#__PURE__*/e(\"p\",{children:\"Notion Capital has committed to becoming Net Zero and has already fully offset its residual emissions from 2023 onwards. The team continues to explore carbon reduction strategies, particularly in high-impact areas like:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Business travel \"}),\"\u2013 A major contributor to emissions in venture capital.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Events and networking activities\"}),\" \u2013 Finding sustainable ways to bring the ecosystem together.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Office operations\"}),\" \u2013 Optimizing energy use and supply chain sustainability.\"]})})]}),/*#__PURE__*/e(\"h2\",{children:\"Supporting Portfolio Companies with ESG Compliance\"}),/*#__PURE__*/t(\"p\",{children:[\"A key way Notion VC accelerates ESG adoption across its portfolio is through \",/*#__PURE__*/e(\"strong\",{children:\"Atlas Metrics\"}),\". Notion VC provides all its startups with access to the Atlas Metrics platform, and with 1:1 workshops to enable efficient input of various ESG metrics. Further, with 1:1 workshops on Net Zero steps and associated reduction strategies.\"]}),/*#__PURE__*/e(\"h2\",{children:\"The Future of ESG in Venture Capital\"}),/*#__PURE__*/e(\"p\",{children:\"Looking ahead, Notion Capital aims to further solidify its role as an ESG leader in venture capital. The focus remains on:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Promoting best practices across the portfolio \"}),\"\u2013 Ensuring that all companies have access to ESG insights and tools.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Leading by example\"}),\" \u2013 Holding itself to the same ESG standards that it expects from startups.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Encouraging industry-wide adoption \"}),\"\u2013 Sharing knowledge with other VCs to encourage a broader shift toward ESG integration.\"]})})]}),/*#__PURE__*/e(\"h2\",{children:\"A Call to Action for VCs\"}),/*#__PURE__*/e(\"p\",{children:\"For VCs hesitant to prioritize ESG, Notion Capital has a clear message: ignoring ESG can hamper access to capital and limit long-term returns. Institutional investors are increasingly factoring ESG into their decisions, and startups that embrace ESG early will have a competitive advantage.\"}),/*#__PURE__*/e(\"p\",{children:\"ESG is not just a checkbox. It\u2019s a strategic necessity for building resilient, high-growth companies.\"})]});export const richText1=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"ESG reporting has evolved into a fundamental aspect of business strategy. This shift is driven by the growing recognition that the integration of ESG factors into corporate decision-making offers significant benefits beyond regulatory compliance. While some argue that sustainability measures increase costs and reduce short-term profitability, research shows that companies with strong ESG strategies outperform others over time. By strengthening risk management, improving operational efficiency, and enhancing financial resilience, \",/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/features/automated-reporting\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"ESG reporting\"})}),\" ultimately drives long-term value creation \u2013 often offsetting or even surpassing the initial investment in ESG.\"]}),/*#__PURE__*/e(\"p\",{children:\"This blog post explores the link between ESG reporting and financial performance, with a particular focus on its role in risk management, revenue growth, and operational efficiency.\"}),/*#__PURE__*/e(\"h2\",{children:\"Understanding Risk Management\"}),/*#__PURE__*/e(\"p\",{children:\"Traditionally, financial risk management centers around market volatility, credit exposure, and operational inefficiencies. ESG reporting broadens this perspective by addressing long-term systemic threats that can significantly impact a company\u2019s stability and profitability. These include:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Climate risk\"}),\": The escalating impacts of climate change pose both physical and transition risks for organizations. Extreme weather events can disrupt operations and supply chains, while regulatory shifts toward a low-carbon economy may result in increased costs, stranded assets, and business model disruptions for companies slow to adapt.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Operational risk\"}),\": ESG factors such as labor conditions, supply chain sustainability, and product safety directly influence business continuity. Poor management of these areas can lead to reputational damage, regulatory scrutiny, and substantial financial losses.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Regulatory risk\"}),\": Non-compliance with ESG regulations can result in significant legal and financial penalties. Businesses that fail to meet sustainability disclosure requirements risk fines, lawsuits, and exclusion from markets.\"]})})]}),/*#__PURE__*/e(\"p\",{children:\"Proactively managing ESG-related risks can safeguard a company from potential disruptions and costly crises, ensuring business continuity and long-term stability in an increasingly complex global landscape.\"}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"strong\",{children:\"Revenue Growth: Capturing Market Opportunities\"})}),/*#__PURE__*/e(\"p\",{children:\"By addressing vulnerabilities to climate, operational, and regulatory risks, organizations not only strengthen their economic resilience but also create pathways for revenue growth. As sustainability becomes an increasingly critical differentiator, companies with strong ESG credentials gain a competitive edge in industries where sustainability criteria influence supplier selection and B2B relationships. Sectors such as finance, manufacturing, technology, and consumer goods now often prioritize ESG-compliant partners, which means that an effective ESG strategy can give access to supply chains and procurement partnerships.\"}),/*#__PURE__*/e(\"p\",{children:\"Investor confidence in ESG-aligned businesses is also growing. This results in greater investment inflows, lower capital costs, favorable financing options, and stronger market positioning for companies that can demonstrate their ESG commitment.\"}),/*#__PURE__*/e(\"p\",{children:\"Beyond direct financial benefits, ESG reporting enhances corporate valuation by reducing the impact of deficiencies and amplifying strengths. Research has shown that companies investing in governance structures experience higher market-to-book ratios, as improved oversight fosters trust and financial credibility. Similarly, organizations actively involved in social and environmental initiatives tend to command higher valuations, as they are seen as better aligned with future economic and regulatory trends.\"}),/*#__PURE__*/e(\"h2\",{children:/*#__PURE__*/e(\"strong\",{children:\"Operational Efficiency: Driving Cost Reductions\"})}),/*#__PURE__*/e(\"p\",{children:\"Beyond revenue growth, ESG integration plays a crucial role in streamlining operations and cutting costs. By actively monitoring and optimizing energy and resource consumption, companies can significantly reduce operational expenses while lowering their environmental footprint. Strategic investments in renewable energy, water conservation, and circular economy models not only enhance cost efficiency but also shield businesses from resource price volatility and regulatory uncertainty, ensuring long-term financial stability.\"}),/*#__PURE__*/t(\"p\",{children:[\"A well-executed ESG strategy also fortifies supply chain resilience, mitigating risks associated with disruptions, inefficiencies, and compliance failures. Companies that implement sustainable logistics solutions\u2014such as optimized transportation routes, fuel-efficient fleets, and \",/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/blog/three-tips-for-measuring-your-supply-chain-emissions\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"reduced carbon emissions\"})}),\"\u2014benefit from lower operational costs, improved delivery efficiency, and minimized environmental impact. \"]}),/*#__PURE__*/e(\"p\",{children:\"ESG-driven workplace policies further enhance operational efficiency by improving employee productivity and retention. Organizations that prioritize employee well-being, diversity, and ethical labor practices cultivate a highly engaged workforce, reducing turnover rates and the high costs associated with recruitment and training.\"}),/*#__PURE__*/e(\"h2\",{children:\"Conclusion\"}),/*#__PURE__*/e(\"p\",{children:\"ESG reporting is more than a compliance requirement\u2014it is a catalyst for financial resilience, revenue growth, and operational efficiency. Companies that proactively integrate ESG into their business models enhance risk management, attract investment, and improve long-term profitability, ultimately strengthening financial returns, increasing shareholder value, and securing a competitive advantage in the market. While the initial costs and operational complexities of implementing ESG reporting are valid concerns, the long-term benefits\u2014from cost reductions to improved market positioning\u2014can significantly outweigh these challenges.\"}),/*#__PURE__*/e(\"p\",{children:\"At Atlas Metrics, we understand the complexities of ESG implementation and the challenges of extracting meaningful insights from sustainability data. Our mission is to simplify ESG reporting, deliver powerful analytics, and ensure you gain maximum value from your data \u2014 helping you to navigate regulations, drive strategic growth, and achieve measurable ESG success.\"})]});export const richText2=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/t(\"em\",{children:[/*#__PURE__*/e(\"strong\",{children:\"DISCLAIMER\"}),\": The CSDDD\",/*#__PURE__*/e(\"strong\",{children:\" \"}),\"is subject to change following the EU's Omnibus proposal. For a detailed breakdown of these changes and their implications, read our full analysis here: \"]}),/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/blog/omnibus-update-march\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:/*#__PURE__*/e(\"em\",{children:\"EU Omnibus Proposal Explained: What Organizations Need to Know & Do Next\"})})}),/*#__PURE__*/e(\"em\",{children:\".\"})]}),/*#__PURE__*/e(\"p\",{children:\"The Corporate Sustainability Due Diligence Directive (CSDDD) is a novel EU regulation designed to enhance corporate accountability by enforcing due diligence obligations related to human rights and environmental practices. It applies to approximately 6,000 large EU-based companies as well as non-EU companies operating in the EU, requiring them to identify, prevent, and mitigate adverse impacts across their operations, subsidiaries, and value chains (both upstream and downstream). In addition to due diligence, the EU CSDDD mandates the implementation of a climate transition plan that aligns business models with the EU\u2019s climate neutrality goals and the Paris Agreement\u2019s 1.5\\xb0C target.\"}),/*#__PURE__*/e(\"p\",{children:\"With national transposition set for 2026 and application from 2027, companies need to prepare early to understand the requirements, their relationship to related frameworks such as the Corporate Sustainability Reporting Directive (CSRD), ensure compliance and use the Directive as an opportunity to strengthen stakeholder confidence and competitive positioning.\"}),/*#__PURE__*/t(\"p\",{children:[\"This article provides a comprehensive CSDDD summary, breaking down key aspects such as its obligations, timeline, and implications on businesses. For official details, refer to the European Commission\u2019s website: \",/*#__PURE__*/e(i,{href:\"https://commission.europa.eu/business-economy-euro/doing-business-eu/sustainability-due-diligence-responsible-business/corporate-sustainability-due-diligence_en\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Corporate Sustainability Due Diligence Directive\"})}),\".\"]}),/*#__PURE__*/e(\"h2\",{children:\"Objective of the CSDDD\"}),/*#__PURE__*/e(\"p\",{children:\"The CSDDD aims to create a harmonized EU framework for corporate sustainability due diligence, addressing:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Gaps in voluntary measures and inconsistent implementation across member states.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Legal fragmentation, ensuring uniform standards across the EU.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Corporate accountability, by mandating due diligence on human rights and environmental risks.\"})})]}),/*#__PURE__*/e(\"p\",{children:\"By requiring companies to integrate due diligence into their governance and risk management systems, the directive promotes responsible business conduct and long-term resilience.\"}),/*#__PURE__*/e(\"h2\",{children:\"Content of Obligations\"}),/*#__PURE__*/t(\"p\",{children:[\"Under the CSDDD, companies must integrate due diligence into their corporate policies and risk management systems, ensuring oversight of human rights and environmental impacts across their operations, subsidiaries, and chains of activities. Importantly, the directive imposes \",/*#__PURE__*/e(\"strong\",{children:\"obligations of means\"}),\", not \",/*#__PURE__*/e(\"strong\",{children:\"obligations of result\"}),\", meaning companies are not required to eliminate all adverse impacts but must take \",/*#__PURE__*/e(\"strong\",{children:\"appropriate measures\"}),\" that are capable of achieving the objectives of due diligence.\"]}),/*#__PURE__*/e(\"h2\",{children:\"Key Due Diligence Practices\"}),/*#__PURE__*/e(\"p\",{children:\"To comply with the CSDDD, companies must follow a structured due diligence process, incorporating the following steps:\"}),/*#__PURE__*/e(\"h3\",{children:\"Integrate Due Diligence into Operations\"}),/*#__PURE__*/e(\"p\",{children:\"Companies must establish clear policies and governance structures that embed due diligence into corporate functions and decision-making processes. This includes aligning due diligence with the existing corporate risk management system. Companies can for example implement a code of conduct that outlines expectations for employees, subsidiaries, and business partners regarding human rights and environmental standards.\"}),/*#__PURE__*/e(\"h3\",{children:\"Identify and Assess Adverse Impacts\"}),/*#__PURE__*/e(\"p\",{children:\"Companies are required to identify and assess actual and potential human rights and environmental risks in their operations and business relationships. This process involves conducting risk assessments across their own operations, subsidiaries, and both upstream and downstream supply chains. First, \u201Ccompanies should map their own operations, those of their subsidiaries and, where related to their chains of activities, those of their business partners, in order to identify general areas where adverse impacts are most likely to occur and to be most severe\u201D (European Commission, 2024). Second, \u201Ccompanies should carry out an in-depth assessment of their own operations, those of their subsidiaries and, where related to their chains of activities, those of their business partners\u201D (European Commission, 2024). Companies should prioritize among the identified impacts risks based on severity and likelihood, if they are not able to address all impacts at the same time.\"}),/*#__PURE__*/e(\"h3\",{children:\"Prevent and/or Mitigate Adverse Impacts\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Once risks are identified, companies must take proactive steps to prevent and/or mitigate negative impacts. This can involve implementing a set of actions:\\xa0\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Prevention and Corrective Action Plans: Companies should develop and implement strategies to prevent potential human rights violations and environmental damage, particularly in high-risk areas.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Contractual Assurances: Companies can seek to obtain contractual assurance from direct business partners, including cascading requirements through the chain of activities.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Financial Investments: Companies should make financial or non-financial improvements, such as upgrading infrastructures, improving sourcing practices, or adjusting operational processes.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Business Strategy Adjustments: Companies should modify their business plan, strategies and operations, including purchasing, design, and distribution practices where they contribute to risks that have been identified.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Operational Support for SMEs: Companies should provide support to their SME partners, such as capacity building, when the SME faces resource or knowledge constraints.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Financial Support for SMEs: Companies should provide funding, loans, or guarantees to SMEs business partners, where the code of conduct or the prevention plan risk the viability of the SME.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Collaboration: Companies should partner with other entities to address issues and strengthen influence over business partners.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Complaints and Notification Mechanism: Lastly, companies should establish an accessible and effective complaints process to allow affected parties to report concerns.\"})})]}),/*#__PURE__*/e(\"h3\",{children:\"Provide Remedy Where Necessary\"}),/*#__PURE__*/e(\"p\",{children:\"If a company has caused or contributed to harm, it must take remedial action to address the impact. Remediation can happen in the form of financial compensation, operational improvements, or corrective measures. It is important for companies to ensure that affected stakeholders have access to the remedy mechanisms.\"}),/*#__PURE__*/e(\"h3\",{children:\"Disengagement as a Last Resort\"}),/*#__PURE__*/e(\"p\",{children:\"Where adverse impacts cannot be prevented, mitigated, or adequately remedied, companies must assess their relationship with the involved business partner. Before terminating a partnership, companies should first assess whether disengagement would create more harm than the original adverse impact. Second, companies should ensure that appropriate steps are taken to mitigate any negative consequences of disengagement.\"}),/*#__PURE__*/e(\"h3\",{children:\"Monitor Due Diligence Effectiveness\"}),/*#__PURE__*/e(\"p\",{children:\"Regular monitoring and evaluation of due diligence policies are essential for compliance and continuous improvement. Companies should conduct ongoing internal audits to assess the effectiveness of their due diligence policies and adjust risk management strategies based on audit findings.\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Publicly Report on Due Diligence Efforts\"}),/*#__PURE__*/e(\"p\",{children:\"As a last step, transparency is a requirement under the CSDDD, which requires\\xa0 companies to disclose due diligence efforts, risk assessments, and mitigation strategies. Also companies must ensure that reports provide sufficient detail to assess the adequacy of corporate sustainability measures.\"}),/*#__PURE__*/e(\"h3\",{children:\"Climate Transition Plan Obligations\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"In addition to the due diligence on human rights and environmental risks, companies must implement a climate transition plan that aligns with the Paris Agreement\u2019s 1.5\\xb0C goal and the EU\u2019s climate neutrality targets for 2030 and 2050. This plan must include:\"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Time-bound targets for 2030, 2050, and interim steps based on scientific evidence.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Decarbonization levers and actions detailing how the company will reach their greenhouse gas emission targets.\"})})]}),/*#__PURE__*/e(\"h2\",{children:\"Interplay With Other EU Initiatives\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"The CSDDD complements existing EU sustainability initiatives by:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Serving as a broad due diligence framework (lex generalis) while allowing more specific sectoral laws (lex specialis) to take precedence where applicable.\\xa0\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[\"Aligning with the \",/*#__PURE__*/e(\"strong\",{children:\"Corporate Sustainability Reporting Directive (CSRD)\"}),\" by relying on its reporting requirements, reducing duplication for covered companies and offering a simplified framework for those outside the CSRD\u2019s scope.\"]})})]}),/*#__PURE__*/e(\"h2\",{children:\"Scope & Timeline: Who Must Comply and When?\"}),/*#__PURE__*/e(\"p\",{children:\"The CSDDD was published on July 5 and entered into force on July 25 2024. The directive must be transposed by Member States into national law by 26 July 2026. The new rules will start to apply by 26 July 2027 following a staggered approach (Source of table: Connellan et al., 2024):\"}),/*#__PURE__*/e(\"figure\",{className:\"framer-table-wrapper\",children:/*#__PURE__*/e(\"table\",{children:/*#__PURE__*/t(\"tbody\",{children:[/*#__PURE__*/t(\"tr\",{children:[/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Category\"})})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Net turnover threshold\"})})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Number of employees\"})})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Date of application for companies\"})})})]}),/*#__PURE__*/t(\"tr\",{children:[/*#__PURE__*/e(\"td\",{rowSpan:\"3\",children:/*#__PURE__*/e(\"p\",{children:\"EU Companies\"})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"EUR 1,500 m (global)\"})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"5,000\"})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"26 July 2027\"})})]}),/*#__PURE__*/t(\"tr\",{children:[/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"EUR 900 m (global)\"})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"3,000\"})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"26 July 2028\"})})]}),/*#__PURE__*/t(\"tr\",{children:[/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"EUR 450 m (global)\"})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"1,000\"})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"26 July 2029\"})})]}),/*#__PURE__*/t(\"tr\",{children:[/*#__PURE__*/e(\"td\",{rowSpan:\"3\",children:/*#__PURE__*/e(\"p\",{children:\"Non-EU Companies\"})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"EUR 1,500 m (in EU)\"})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"N/A\"})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"26 July 2027\"})})]}),/*#__PURE__*/t(\"tr\",{children:[/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"EUR 900 m (in EU)\"})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"N/A\"})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"26 July 2028\"})})]}),/*#__PURE__*/t(\"tr\",{children:[/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"EUR 450 m (in EU)\"})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"N/A\"})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"26 July 2029\"})})]}),/*#__PURE__*/t(\"tr\",{children:[/*#__PURE__*/e(\"td\",{rowSpan:\"2\",children:/*#__PURE__*/e(\"p\",{children:\"EU Franchisers/ Licensors\\xa0\"})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"Turnover: EUR 80 m (global)\"})}),/*#__PURE__*/e(\"td\",{rowSpan:\"2\",children:/*#__PURE__*/e(\"p\",{children:\"N/A\"})}),/*#__PURE__*/e(\"td\",{rowSpan:\"2\",children:/*#__PURE__*/e(\"p\",{children:\"26 July 2029\"})})]}),/*#__PURE__*/e(\"tr\",{children:/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"Royalties: EUR 22.5 m (global)\"})})}),/*#__PURE__*/t(\"tr\",{children:[/*#__PURE__*/e(\"td\",{rowSpan:\"2\",children:/*#__PURE__*/e(\"p\",{children:\"Non-EU Franchisers/ Licensors\\xa0\"})}),/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"Turnover: EUR 80 m (in EU)\"})}),/*#__PURE__*/e(\"td\",{rowSpan:\"2\",children:/*#__PURE__*/e(\"p\",{children:\"N/A\"})}),/*#__PURE__*/e(\"td\",{rowSpan:\"2\",children:/*#__PURE__*/e(\"p\",{children:\"26 July 2029\"})})]}),/*#__PURE__*/e(\"tr\",{children:/*#__PURE__*/e(\"td\",{children:/*#__PURE__*/e(\"p\",{children:\"Royalties: EUR 22.5 m (in EU)\"})})})]})})}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Ultimate parent companies\"}),\" of corporate groups that meet the above-listed threshold on a consolidated basis are also subject to the directive.\\xa0\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"SMEs\"}),\" are not directly subject to the CSDDD and face no legal obligations or enforcement under the directive. However, as business partners in the supply chains of larger companies, they may be required to share information or address sustainability impacts, with the directive including safeguards and support measures to minimize their compliance burden.\\xa0\"]}),/*#__PURE__*/e(\"h2\",{children:\"Penalties and Burden Limitation\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"The CSDDD establishes an enforcement framework, with national supervisory authorities empowered to issue injunctions and sanctions (including fines) for non-compliance. Companies can also face civil liability if they fail to prevent or mitigate adverse impacts, requiring them to compensate victims, though overcompensation is not permitted. Enforcement applies to both EU and non-EU companies operating in the EU, with third-country companies required to designate an authorized representative.\"}),/*#__PURE__*/e(\"h2\",{children:\"Changes and Regulatory Updates\"}),/*#__PURE__*/t(\"p\",{children:[\"The first of a series of omnibus simplification packages that were introduced in the \",/*#__PURE__*/e(\"strong\",{children:\"EU\u2019s Competitiveness Compass\"}),\", set to be released at the end of February or beginning of March 2025. The package aims to streamline sustainability reporting and reduce administrative burdens by 25% for all businesses and 35% for SMEs. For the CSDDD, this could have implications by focusing on:\"]}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"More efficient due diligence processes\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Clearer compliance guidelines\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"A reduction in overlapping data collection requirements\"})})]}),/*#__PURE__*/e(\"p\",{children:\"By simplifying reporting rules, the EU aims to maintain high sustainability standards while enabling businesses to focus on effective risk management and growth. Businesses should monitor these developments closely to remain compliant and agile in their sustainability strategies.\"}),/*#__PURE__*/e(\"h2\",{children:\"Conclusion: Preparing for CSDDD Compliance\"}),/*#__PURE__*/t(\"p\",{children:[\"The \",/*#__PURE__*/e(\"strong\",{children:\"Corporate Sustainability Due Diligence Directive (CSDDD)\"}),\" is a transformative regulation that mandates proactive risk management in human rights and environmental practices. By preparing early and strategically, companies can:\"]}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Ensure compliance and minimize legal risks.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Strengthen stakeholder trust and enhance brand reputation.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Position themselves as leaders in sustainable corporate practices.\"})})]}),/*#__PURE__*/e(\"p\",{children:\"Start your CSDDD compliance journey today by assessing your current due diligence practices and aligning them with the directive's requirements.\"}),/*#__PURE__*/e(\"h2\",{children:\"FAQs\"}),/*#__PURE__*/e(\"h4\",{children:\"What is the CSDDD?\"}),/*#__PURE__*/t(\"p\",{children:[\"The Corporate Sustainability Due Diligence Directive (CSDDD) is an \",/*#__PURE__*/e(\"strong\",{children:\"EU regulation\"}),\" that mandates large companies to identify, prevent, and address \",/*#__PURE__*/e(\"strong\",{children:\"human rights and environmental risks\"}),\" in their operations and supply chains.\"]}),/*#__PURE__*/e(\"h4\",{children:\"When does CSDDD come into force?\"}),/*#__PURE__*/t(\"p\",{children:[\"The Corporate Sustainability Due Diligence Directive (CSDDD) was published on \",/*#__PURE__*/e(\"strong\",{children:\"July 5, 2024\"}),\", and entered into force on \",/*#__PURE__*/e(\"strong\",{children:\"July 25, 2024\"}),\". EU member states must transpose it into national law by \",/*#__PURE__*/e(\"strong\",{children:\"July 26, 2026\"}),\", with implementation starting in \",/*#__PURE__*/e(\"strong\",{children:\"July 2027\"}),\".\"]}),/*#__PURE__*/e(\"h4\",{children:\"Who is affected by the CSDDD?\"}),/*#__PURE__*/t(\"p\",{children:[\"The directive applies to \",/*#__PURE__*/e(\"strong\",{children:\"large EU and non-EU companies\"}),\" that meet specific revenue and employee thresholds. While \",/*#__PURE__*/e(\"strong\",{children:\"SMEs are not directly covered\"}),\", they may be indirectly impacted as part of supply chains.\"]}),/*#__PURE__*/e(\"h4\",{children:\"How does the CSRD differ from the CSDDD?\"}),/*#__PURE__*/t(\"p\",{children:[\"The \",/*#__PURE__*/e(\"strong\",{children:\"Corporate Sustainability Due Diligence Directive (CSDDD)\"}),\" focuses on \",/*#__PURE__*/e(\"strong\",{children:\"due diligence obligations\"}),\" regarding human rights and environmental risks in corporate activities.\"]}),/*#__PURE__*/t(\"p\",{children:[\"The \",/*#__PURE__*/e(\"strong\",{children:\"Corporate Sustainability Reporting Directive (CSRD)\"}),\", on the other hand, mandates \",/*#__PURE__*/e(\"strong\",{children:\"sustainability reporting requirements\"}),\" for companies.\"]}),/*#__PURE__*/e(\"h4\",{children:\"What are the penalties for non-compliance with the CSDDD?\"}),/*#__PURE__*/e(\"p\",{children:\"Companies that fail to comply with the Corporate Sustainability Due Diligence Directive (CSDDD) may face:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Fines and sanctions\"}),\" imposed by national supervisory authorities.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Civil liability\"}),\", requiring companies to compensate victims if they fail to prevent or mitigate adverse human rights or environmental impacts.\"]})})]})]});export const richText3=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"This month, the European Commission announced the Omnibus Proposal, a new legislative measure aimed at simplifying corporate sustainability reporting. The proposal, presented on February 26th, seeks to reduce regulatory burdens for EU entities.\"}),/*#__PURE__*/e(\"p\",{children:\"While it is still too early for definitive conclusions and the full impact remains to be seen, this blog post breaks down key updates, outlines next steps, and provides insights on how organizations and sustainability managers can navigate the evolving regulatory landscape.\"}),/*#__PURE__*/t(\"h3\",{children:[\"A Recap of the Omnibus: \",/*#__PURE__*/e(\"br\",{}),\"How We Got Here\"]}),/*#__PURE__*/t(\"p\",{children:[\"In \",/*#__PURE__*/e(\"strong\",{children:\"November 2024\"}),\", in response to concerns over regulatory complexity, Ursula von der Leyen announced the Omnibus Proposal to \u201Creduce bureaucracy and reporting burdens.\u201D This initiative follows a Council request for a 25% reduction in reporting burdens for large organizations and 35% for SMEs, reflecting a broader effort to streamline sustainability disclosures while maintaining the EU\u2019s ambitious environmental goals.\"]}),/*#__PURE__*/e(\"p\",{children:\"Currently, businesses can be in scope for multiple sustainability reporting requirements, each with distinct but interconnected objectives. These include the Corporate Sustainability Reporting Directive (CSRD), the Corporate Sustainability Due Diligence Directive (CSDDD), the EU Taxonomy Regulation, and the Carbon Border Adjustment Mechanism (CBAM). The Omnibus proposal aims to reduce administrative burden, eliminate redundancies, lower compliance costs, and create a more efficient reporting system.\"}),/*#__PURE__*/t(\"p\",{children:[\"On the back of the release of the \",/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/blog/eu-competitiveness-compass\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Competitiveness Compass\"})}),\", the European Commission published the \",/*#__PURE__*/e(\"strong\",{children:\"Omnibus Simplification Package\"}),\", explaining that the proposal would take the form of several packages. Omnibus I and II were the first to be presented by the Commission on \",/*#__PURE__*/e(\"strong\",{children:\"February 26th.\"})]}),/*#__PURE__*/t(\"h3\",{children:[\"Key Takeaways from the Proposal: \",/*#__PURE__*/e(\"br\",{}),\"Omnibus I and II\"]}),/*#__PURE__*/e(\"p\",{children:\"The Omnibus I and II introduced major changes across sustainability and investment simplification, in particular targeting CSRD, CSDDD, EU Taxonomy, and CBAM. A summary of the main proposed changes is provided below.\"}),/*#__PURE__*/e(\"h4\",{children:\"Changes to the Corporate Sustainability Reporting Directive (CSRD)\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"1.New Scope-in Criteria: \"}),\"Mandatory only for large organizations with \",/*#__PURE__*/e(\"strong\",{children:\">1,000 employees\"}),\" AND either a) > EUR 50M turnover or b) > EUR 25M balance sheet. Organizations with 250\u20131,000 employees are no longer in scope.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"2.Value Chain Cap & New Simplified Standard: \"}),\"From out-of-scope value chain partners, large organizations can only request sustainability data as per the new simplified reporting standard (based on the VSME standard by EFRAG). Organizations no longer in scope can opt-in voluntarily to continue ESG reporting.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"3.Revised European Sustainability Reporting Standards (ESRS): \"}),\"Substantial reduction of the number of ESRS data points, focusing on quantitative over qualitative disclosures.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"4.No More Sector-Specific Standards: \"}),\"Sector-specific ESRS requirements have been removed.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"5.Limited Assurance Only:\"}),\" The potential transition to reasonable assurance audits has been removed, keeping limited assurance only.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"6.Double Materiality Concept Stays: \"}),\"No changes to the double materiality concept. Organizations will have to continue conducting double materiality assessments.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"7.Two-Year Reporting Delay for Wave 2 & 3 Organizations\"}),\": Wave 2 (2026 reporting) and Wave 3 (2027 reporting) organizations get a two-year postponement, while Wave 1 (2025 reporting) remains unchanged.\"]}),/*#__PURE__*/e(\"h4\",{children:\"Changes to the Corporate Sustainability Due Diligence Directive (CSDDD)\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"1. Focus on Direct Business Partners\"}),\": Organizations are only required to conduct due diligence on direct suppliers, unless credible evidence of risks exists for indirect suppliers.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"2. No More Forced Contract Terminations\"}),\": Instead of mandatory termination, organizations can now suspend relationships with non-compliant suppliers while working toward a resolution.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"3. Less Frequent Monitoring Requirements\"}),\": Organizations must now review and update due diligence processes every 5 years, instead of annually.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"4. Narrower Scope of Engagement\"}),\": Organizations only need to consult directly affected stakeholders, limiting the information to request from their SME and small midcap business partners.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"5. EU Civil Liability Removed\"}),\": The 5% minimum fine requirement is removed, and EU-wide liability is replaced by national enforcement under domestic legal frameworks.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"6. One-Year Delay in Implementation\"}),\": The CSDDD transposition deadline is postponed to July 2027, with the first wave of organizations now required to comply from July 2028 (instead of 2027).\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"7. Transition Plans Alignment CSDDD & CSRD\"}),\": The CSDDD and CSRD requirements on the adoption of transition plans for climate mitigation have been aligned.\"]}),/*#__PURE__*/e(\"h4\",{children:\"Changes to the EU Taxonomy\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"1. New Scope-in Criteria: \"}),\"Mandatory only for large organizations with \",/*#__PURE__*/e(\"strong\",{children:\">1,000 employees\"}),\" AND \",/*#__PURE__*/e(\"strong\",{children:\">EUR 450M turnover\"}),\". Organizations below this threshold can voluntarily disclose limited taxonomy data. This separates EU Taxonomy reporting from CSRD, as the scope is no longer identical.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"2. Amendments to Reporting Requirements\"}),\": i) Reduction of mandatory reporting data points by 70%, ii) Introduction of a 10% materiality threshold for assessing activities related to Turnover/CapEx, and of 25% related to OpEx. iii) Simplification of the Do No Significant Harm (DNSH) criteria.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"3. Changes to Financial Sector KPIs: \"}),\"Amendment to the Green Asset Ratio (GAR) calculations to allow banks to exclude organizations outside the new CSRD scope from their denominator.\"]}),/*#__PURE__*/e(\"h4\",{children:\"Changes to the Carbon Border Adjustment Mechanism (CBAM)\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"1. Exemption for Small Importers\"}),\": 90% of small importers (SMEs and individuals) will be exempt from CBAM.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"2. Threshold for Imported Goods\"}),\": A minimum threshold of 50 tonnes of imported goods per importer will apply.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"3. Further Simplifications\"}),\": Existing CBAM rules will be streamlined, making compliance easier, while targeted rules will be introduced to prevent circumvention and ensure fair application.\"]}),/*#__PURE__*/t(\"h3\",{children:[\"Immediate Next Steps: \",/*#__PURE__*/e(\"br\",{}),\"EU Parliament and Council Review\"]}),/*#__PURE__*/e(\"p\",{children:\"The Omnibus proposal by the EU Commission poses major changes to sustainability reporting, significantly impacting EU entities. It is important to note that it is still only a proposal for now.\\xa0The next step in the EU legislative process is a review of the proposal by the European Parliament and the Council. These bodies can either approve the proposal as it is or request revisions and adjustments before adoption. This means there is still room for modifications before the legislation becomes final.\"}),/*#__PURE__*/e(\"p\",{children:\"Given the urgency of these changes, the Commission has requested the Parliament to prioritize and fast-track its review through the \u201Curgency procedure.\u201D This could accelerate the process, though the exact timeline remains uncertain and it is expected to take several months.\"}),/*#__PURE__*/e(\"h3\",{children:\"If the Proposal Is Approved, What Is the Main Impact?\"}),/*#__PURE__*/e(\"p\",{children:\"The Omnibus Proposal will have the greatest impact on Wave 2 and Wave 3 CSRD reporters and SMEs in corporate value chains.\"}),/*#__PURE__*/e(\"p\",{children:\"For Wave 2 and Wave 3 organizations, originally set to begin reporting in 2026 and 2027, the proposal delays obligations by two years, with most being removed from scope entirely. This represents an estimated 80% reduction in the number of organizations required to report compared to the previous rules.\"}),/*#__PURE__*/e(\"p\",{children:\"For SMEs in corporate value chains, the proposal limits sustainability data requests from larger organizations to what is covered in a simplified voluntary reporting standard (VSME), reducing trickle-down reporting obligations.\"}),/*#__PURE__*/e(\"h3\",{children:\"What Should Organizations & Sustainability Managers Do?\"}),/*#__PURE__*/e(\"p\",{children:\"To ensure compliance, organizations should reassess their reporting needs and determine their next steps based on their scope, regulatory requirements, and strategic priorities.\"}),/*#__PURE__*/e(\"h5\",{children:\"Organizations still in scope of CSRD (>1,000 employees)\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Wave 1\"}),\": In EU countries where CSRD is already transposed, reporting obligations remain legally binding until the Omnibus is fully approved. Organizations in these countries must continue their reporting efforts.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Wave 2 and 3\"}),\": The two-year delay provides more time to prepare, but core CSRD principles (e.g., Double Materiality Assessment) remain unchanged. Organizations should stay on track and keep preparing for sustainability reporting.\"]})})]}),/*#__PURE__*/e(\"h5\",{children:\"Organizations no longer in scope of CSRD (250-1,000 employees)\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Even if CSRD no longer applies, the sustainability challenges facing the planet still present major risks and opportunities for organizations \u2013 effectively managing these will remain an important strategic tool for successfully navigating a changing world. Organizations should stay flexible to future regulatory shifts while building long-term value by considering the following next steps:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Adopt the new VSME standard\"}),\": A simplified sustainability reporting standard that requires less effort and is essential for organizations in larger value chains.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Focus on Double Materiality Assessment (DMA):\"}),\" A cornerstone of sustainability strategy, helping identify key ESG risks, impacts, and opportunities for your business.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Measure Emissions & Carbon Footprint: \"}),\"Climate change is still a reality, and understanding your company\u2019s footprint while taking action to decarbonize remains crucial.\\xa0\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Prioritize Quantitative Metrics: \"}),\"Focus on decision-useful sustainability data that support business and stakeholder needs.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Consider Stakeholder Expectations:\"}),\" Investors, customers, and employees still expect sustainability data and reporting remains valuable beyond regulation.\"]})})]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Atlas Metrics\"}),\" is here to help you \",/*#__PURE__*/e(\"strong\",{children:\"navigate these changes\"}),\" and ensure your sustainability strategy remains on track.\"]}),/*#__PURE__*/t(\"p\",{children:[\"If you would like to know more about Omnibus and what it means for your organization, join us for our \",/*#__PURE__*/e(\"strong\",{children:\"Webinar\"}),\" on\",/*#__PURE__*/e(\"strong\",{children:\" March 6th.\"})]}),/*#__PURE__*/t(\"h5\",{children:[\"\uD83D\uDCC5 Save your spot for the English webinar (EN): \",/*#__PURE__*/e(i,{href:\"https://app.getcontrast.io/register/omnibus-march-en\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Sign Up Now!\"})})]}),/*#__PURE__*/e(i,{href:\"https://app.getcontrast.io/register/omnibus-march-en\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{className:\"framer-image\",\"data-preset-tag\":\"img\",children:/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"1080\",src:\"https://framerusercontent.com/images/WREGCOMAOZ3zT3g0Jw7uw53SWk.png\",srcSet:\"https://framerusercontent.com/images/WREGCOMAOZ3zT3g0Jw7uw53SWk.png?scale-down-to=512 512w,https://framerusercontent.com/images/WREGCOMAOZ3zT3g0Jw7uw53SWk.png?scale-down-to=1024 1024w,https://framerusercontent.com/images/WREGCOMAOZ3zT3g0Jw7uw53SWk.png?scale-down-to=2048 2048w,https://framerusercontent.com/images/WREGCOMAOZ3zT3g0Jw7uw53SWk.png 3840w\",style:{aspectRatio:\"3840 / 2160\"},width:\"1920\"})})}),/*#__PURE__*/t(\"h5\",{children:[\"\uD83D\uDCC5 Save your spot for the webinar (DE): \",/*#__PURE__*/e(i,{href:\"https://app.getcontrast.io/register/omnibus-march-de\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Sign Up Now!\"})})]}),/*#__PURE__*/e(i,{href:\"https://app.getcontrast.io/register/omnibus-march-de\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{className:\"framer-image\",\"data-preset-tag\":\"img\",children:/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"1080\",src:\"https://framerusercontent.com/images/gF1I6m8V4VNaRWRlt70Y3Tve0.png\",srcSet:\"https://framerusercontent.com/images/gF1I6m8V4VNaRWRlt70Y3Tve0.png?scale-down-to=512 512w,https://framerusercontent.com/images/gF1I6m8V4VNaRWRlt70Y3Tve0.png?scale-down-to=1024 1024w,https://framerusercontent.com/images/gF1I6m8V4VNaRWRlt70Y3Tve0.png?scale-down-to=2048 2048w,https://framerusercontent.com/images/gF1I6m8V4VNaRWRlt70Y3Tve0.png 3840w\",style:{aspectRatio:\"3840 / 2160\"},width:\"1920\"})})})]});export const richText4=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"The \",/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/blog/sfdr\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Sustainable Finance Disclosure Regulation (SFDR)\"})}),\" is a regulatory regime designed to enhance transparency in sustainable finance by ensuring that financial products provide clear and accurate information on how they integrate environmental, social, and governance (ESG) factors. By addressing transparency and preventing \",/*#__PURE__*/e(\"strong\",{children:\"greenwashing\"}),\", the regulation enables investors to make informed decisions regarding the sustainability attributes of financial products.\"]}),/*#__PURE__*/t(\"p\",{children:[\"The SFDR classifies financial products into three categories\u2014\",/*#__PURE__*/e(\"strong\",{children:\"Article 6, Article 8, and Article 9\"}),\"\u2014each with distinct disclosure obligations. This article provides an in-depth examination of \",/*#__PURE__*/e(\"strong\",{children:\"SFDR Article 8\"}),\", its regulatory requirements, and how it differs from \",/*#__PURE__*/e(\"strong\",{children:\"Article 6 and Article 9\"}),\" classifications.\"]}),/*#__PURE__*/e(\"h2\",{children:\"What is SFDR? Why does it Matter?\"}),/*#__PURE__*/t(\"p\",{children:[\"The SFDR applies to \",/*#__PURE__*/e(\"strong\",{children:\"financial market participants (FMPs) and financial advisers (FAs)\"}),\", including \",/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/industries/asset-managers\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"asset managers\"})}),\", investment firms, insurance companies, and pension funds operating within the European Union. The regulation mandates disclosures on how the entity integrates sustainability and requires financial products to be categorized based on their ESG characteristics.\"]}),/*#__PURE__*/t(\"p\",{children:[\"For entity-level disclosures, the regulation mandates that all in-scope financial entities disclose their approach to sustainability. These disclosures align with \",/*#__PURE__*/e(\"strong\",{children:\"Articles 3, 4, and 5\"}),\" of the regulation and include:\\xa0\"]}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Sustainability Risk Policies (Article 3)\"}),\" \u2013 Financial entities must outline how they integrate sustainability risks into their investment decision-making processes and risk management frameworks. This includes describing how ESG risks could impact the financial performance of investments.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Principal Adverse Impacts (PAIs) Consideration (Article 4)\"}),\" \u2013 Entities must disclose whether and how they consider \",/*#__PURE__*/e(\"strong\",{children:\"Principal Adverse Impacts (PAIs)\"}),\" of investment decisions on sustainability factors. If they do not consider PAIs, they must provide a clear justification. For entities exceeding \",/*#__PURE__*/e(\"strong\",{children:\"500 employees\"}),\", this disclosure is mandatory. This is different from product-level PAI consideration, which is discussed later in this article.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Remuneration Policy and ESG Integration (Article 5)\"}),\" \u2013 Entities must explain how their remuneration policies align with sustainability objectives. This includes ensuring that compensation structures incentivize responsible investment practices and the integration of sustainability risks.\"]})})]}),/*#__PURE__*/t(\"p\",{children:[\"These disclosures should be made publicly available on the entity\u2019s website in a dedicated and easily accessible section (e.g. \",/*#__PURE__*/e(\"strong\",{children:\"\u201CSustainability-Related Disclosures\u201D\"}),\").\"]}),/*#__PURE__*/e(\"h2\",{children:\"SFDR Articles 6, 8 and 9\"}),/*#__PURE__*/e(\"h3\",{children:\"What is SFDR Article 6?\"}),/*#__PURE__*/t(\"p\",{children:[\"The SFDR \",/*#__PURE__*/e(\"strong\",{children:\"Article 6\"}),\" sets forth disclosure requirements for financial products that do not incorporate ESG factors as a component of their investment strategy. These products are not subject to the additional sustainability-related disclosure obligations required for \",/*#__PURE__*/e(\"strong\",{children:\"Article 8 and Article 9\"}),\" products. However, Article 6 mandates that entities disclose financial product information about:\"]}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/e(\"p\",{children:\"How sustainability risks are integrated into their investment decision-making process.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/e(\"p\",{children:\"The anticipated impact of sustainability risks on the financial performance of the product.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/e(\"p\",{children:\"If sustainability risks are deemed irrelevant, a clear explanation of why they are not considered.\"})})]}),/*#__PURE__*/e(\"p\",{children:\"These disclosures must be included in the fund\u2019s private placement memorandum (PPM) to ensure transparency for prospective investors and any other relevant stakeholders.\"}),/*#__PURE__*/e(\"h3\",{children:\"What is SFDR Article 8?\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Article 8\"}),\" financial products are those that \",/*#__PURE__*/e(\"strong\",{children:\"promote environmental and/or social characteristics\"}),\", either individually or in combination. This category represents the \",/*#__PURE__*/e(\"strong\",{children:\"most prevalent\"}),\" classification among ESG-related financial products in the market.\"]}),/*#__PURE__*/e(\"h2\",{children:\"What Does an Article 8 Strategy Look Like?\"}),/*#__PURE__*/t(\"p\",{children:[\"The \",/*#__PURE__*/e(\"strong\",{children:\"SFDR Article 8 classification \"}),\"provides a degree of flexibility regarding strategy implementation. However, the \",/*#__PURE__*/e(\"strong\",{children:\"European Commission\u2019s SFDR FAQ\"}),\" clarifies that \u201Cpromotion\u201D within Article 8 encompasses \",/*#__PURE__*/e(\"strong\",{children:\"both direct and indirect claims\"}),\" related to ESG, including disclosures, reporting, product categorization, marketing materials, investment policies, and asset allocation that reflect the \",/*#__PURE__*/e(\"strong\",{children:\"consideration of environmental or social characteristics\"}),\".\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Article 8 strategies vary widely\"}),\", with some focusing on \",/*#__PURE__*/e(\"strong\",{children:\"basic ESG integration\"}),\", such as exclusionary screening, while others adopt \",/*#__PURE__*/e(\"strong\",{children:\"more ambitious approaches\"}),\" incorporating targeted ESG criteria. Regardless of approach, an Article 8 fund must comply with the following core principles:\"]}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Promotion of environmental and/or social characteristics\"}),\" within its investment strategy.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Implementation of sustainability indicators\"}),\" that are systematically monitored and reported.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Adherence to good governance practices\"}),\", including sound management structures, employee relations, remuneration policies, and tax compliance.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Binding elements\"}),\" integrated into the process to select the investments.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Optional\"}),\" consideration and reporting of \",/*#__PURE__*/e(\"strong\",{children:\"Principal Adverse Impacts (PAIs)\"}),\" on sustainability factors.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Determination of sustainable investment allocation, \"}),\"including whether the fund commits to making sustainable investments and, if so, the percentage of the portfolio allocated to such investments.\"]})})]}),/*#__PURE__*/e(\"h3\",{children:\"Reporting Obligations for Article 8 Funds\"}),/*#__PURE__*/t(\"p\",{children:[\"Financial products classified under \",/*#__PURE__*/e(\"strong\",{children:\"Article 8\"}),\" must adhere to the following disclosure requirements:\"]}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Pre-contractual disclosures\"}),\" utilizing the official SFDR Annex II Template.\\xa0\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Website disclosures\"}),\" outlining sustainability characteristics and investment methodologies.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Annual periodic reports\"}),\" detailing the fund\u2019s sustainability performance, utilizing the official SFDR Annex IV Template.\"]})})]}),/*#__PURE__*/e(\"h3\",{children:\"What is an Article 8+ Strategy?\"}),/*#__PURE__*/t(\"p\",{children:[\"The term \",/*#__PURE__*/e(\"strong\",{children:\"Article 8+\"}),\" has emerged in market practice to describe \",/*#__PURE__*/e(\"strong\",{children:\"financial products that promote environmental and/or social characteristics while also incorporating a proportion of sustainable investments\"}),\". This approach represents a \",/*#__PURE__*/e(\"strong\",{children:\"blended strategy\"}),\", combining \",/*#__PURE__*/e(\"strong\",{children:\"characteristic promotion\"}),\" with the \",/*#__PURE__*/e(\"strong\",{children:\"intentional allocation of sustainable investments\"}),\".\"]}),/*#__PURE__*/e(\"h3\",{children:\"What is SFDR Article 9?\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Article 9 products\"}),\" are financial products with an explicit \",/*#__PURE__*/e(\"strong\",{children:\"sustainable investment objective\"}),\". Unlike \",/*#__PURE__*/e(\"strong\",{children:\"Article 8 products\"}),\", the term \",/*#__PURE__*/e(\"strong\",{children:\"\u201Csustainable investment\u201D\"}),\" is strictly defined within \",/*#__PURE__*/e(\"strong\",{children:\"Article 2(17) of SFDR\"}),\":\"]}),/*#__PURE__*/t(\"p\",{children:[\"A \",/*#__PURE__*/e(\"strong\",{children:\"sustainable investment\"}),\" is an investment in an economic activity that:\"]}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Contributes to an environmental or social objective\"}),\" (e.g., climate change mitigation, biodiversity conservation, social equity).\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Does not significantly harm\"}),\" other environmental or social objectives.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Follows good governance principles\"}),\" (sound management structures, employee relations, remuneration policies, and tax compliance).\"]})})]}),/*#__PURE__*/e(\"h3\",{children:\"Core Characteristics of SFDR Article 9 Funds\"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Must have a sustainable investment objective\"}),\", aligning with the SFDR\u2019s definition.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"100% of the financial product\u2019s investments must qualify as sustainable investments\"}),\".\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Must establish and track sustainability indicators\"}),\" to measure progress toward the attainment of the fund\u2019s sustainable investment objective.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Must ensure the \u201CDo No Significant Harm\u201D (DNSH) principle\"}),\" by assessing and mitigating any negative externalities.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mandatory reporting on Principal Adverse Impacts (PAIs).\"}),\" Reporting on PAIs fulfills the DNSH requirement mentioned above.\\xa0\"]})})]}),/*#__PURE__*/e(\"h3\",{children:\"Reporting Obligations for Article 9 Funds\"}),/*#__PURE__*/t(\"p\",{children:[\"Article 9 products follow reporting obligations similar to \",/*#__PURE__*/e(\"strong\",{children:\"Article 8\"}),\", with the following distinctions:\"]}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Pre-contractual disclosures\"}),\" using the \",/*#__PURE__*/e(\"strong\",{children:\"Article 9 SFDR Annex III template\"}),\".\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Website disclosures\"}),\" that detail sustainability methodologies and alignment with objectives.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Annual periodic reporting\"}),\" following the \",/*#__PURE__*/e(\"strong\",{children:\"Article 9 SFDR Annex V template\"}),\", ensuring transparency on sustainable investment performance and mandatory PAI tracking.\"]})})]}),/*#__PURE__*/e(\"h2\",{children:\"What are Principal Adverse Impacts (PAIs)?\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Principal Adverse Impacts (PAIs)\"}),\" are metrics designed to assess the negative environmental, social, and governance effects of investments. The \",/*#__PURE__*/e(\"strong\",{children:\"SFDR Regulatory Technical Standards (RTS)\"}),\" classify PAIs into three categories:\"]}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Table 1\"}),\": Core \",/*#__PURE__*/e(\"strong\",{children:\"mandatory\"}),\" PAIs (e.g., GHG emissions, water consumption, board diversity, gender pay gap).\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Table 2\"}),\": Additional \",/*#__PURE__*/e(\"strong\",{children:\"climate and environment-related\"}),\" PAIs.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Table 3\"}),\": Additional \",/*#__PURE__*/e(\"strong\",{children:\"social and governance-related\"}),\" PAIs.\"]})})]}),/*#__PURE__*/t(\"p\",{children:[\"Article 8 funds may \",/*#__PURE__*/e(\"strong\",{children:\"voluntarily\"}),\" track PAIs - unless they commit to a percentage of sustainable investments - while \",/*#__PURE__*/e(\"strong\",{children:\"Article 9 funds are required to monitor and report PAIs\"}),\" as part of their \",/*#__PURE__*/e(\"strong\",{children:\"sustainable investment framework and to comply with the DNSH principle of the SFDR\"}),\".\"]}),/*#__PURE__*/e(\"h2\",{children:\"What's Next for the SFDR?\"}),/*#__PURE__*/e(\"p\",{children:\"Since its implementation in 2021, SFDR has undergone continuous development, shaped by key milestones such as the SFDR Delegated Act (2022), the Joint Consultation Paper on PAI methodologies (2023), as well as various FAQs, position papers, and ESMA reports.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"In December 2024, the \",/*#__PURE__*/e(\"strong\",{children:\"Platform on Sustainable Finance \"}),\"- an advisory body to the European Commission - published a briefing document proposing substantial revisions to the SFDR product classification system, including the introduction of new product classification categories.\\xa0\"]}),/*#__PURE__*/t(\"p\",{children:[\"While no official regulatory changes have been implemented yet, this initiative aims to provide clearer \",/*#__PURE__*/e(\"strong\",{children:\"differentiation of financial products based on their sustainability objectives and strategies\"}),\".\"]}),/*#__PURE__*/e(\"p\",{children:\"The proposed framework suggests four categories:\"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Sustainable\"}),\": Investments in assets that are already sustainable.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Transition\"}),\": Investments in entities or activities that are on a path toward sustainability, such as companies with credible transition plans.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"ESG Collection\"}),\": Investments that apply sector-based screening or exclusion strategies to enhance ESG performance.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Unclassified\"}),\": Financial products that do not fall in any of the three categories but will still have some reporting obligations.\\xa0\"]})})]}),/*#__PURE__*/t(\"p\",{children:[\"These refinements are intended to \",/*#__PURE__*/e(\"strong\",{children:\"reduce greenwashing risks\"}),\" while ensuring investors can clearly distinguish between products designed for sustainable investment, transition financing, or ESG-focused selection criteria.\"]}),/*#__PURE__*/e(\"p\",{children:\"While it remains uncertain whether these proposals will be adopted into regulation, they indicate a potential shift toward a more comprehensive transformation of SFDR reporting. Market participants should stay vigilant and be ready to adapt their investment disclosures in response to any forthcoming updates.\"}),/*#__PURE__*/e(\"h2\",{children:\"FAQs\"}),/*#__PURE__*/e(\"h4\",{children:\"What are the requirements for SFDR Article 8?\"}),/*#__PURE__*/t(\"p\",{children:[\"SFDR \",/*#__PURE__*/e(\"strong\",{children:\"Article 8 funds\"}),\" must promote environmental and/or social characteristics, follow good governance practices, and disclose how these characteristics are considered in investment decisions. They are required to provide \",/*#__PURE__*/e(\"strong\",{children:\"pre-contractual, website, and periodic disclosures\"}),\" to ensure transparency.\"]}),/*#__PURE__*/e(\"h4\",{children:\"What is the difference between SFDR Article 8 and Article 9?\"}),/*#__PURE__*/t(\"p\",{children:[\"The key distinction is that \",/*#__PURE__*/e(\"strong\",{children:\"Article 8 funds\"}),\" promote environmental and/or social characteristics, whereas \",/*#__PURE__*/e(\"strong\",{children:\"Article 9 funds\"}),\" have a \",/*#__PURE__*/e(\"strong\",{children:\"sustainable investment objective\"}),\". Article 9 products must ensure that \",/*#__PURE__*/e(\"strong\",{children:\"100% of investments qualify as sustainable investments\"}),\" under SFDR Article 2(17) and must report on \",/*#__PURE__*/e(\"strong\",{children:\"Principal Adverse Impacts (PAIs) to comply with the Do No Significant Harm (DNSH) principle\"}),\".\"]}),/*#__PURE__*/e(\"h4\",{children:\"What is SFDR Article 6?\"}),/*#__PURE__*/t(\"p\",{children:[\"SFDR \",/*#__PURE__*/e(\"strong\",{children:\"Article 6 funds\"}),\" are financial products that do not promote ESG characteristics or have a sustainable investment objective. However, they must disclose how sustainability risks are considered in the investment decision-making process, if at all.\\xa0\"]}),/*#__PURE__*/e(\"h4\",{children:\"What is SFDR Article 8?\"}),/*#__PURE__*/t(\"p\",{children:[\"SFDR \",/*#__PURE__*/e(\"strong\",{children:\"Article 8 funds\"}),\" are financial products that promote environmental and/or social characteristics, provided that the companies in which they invest follow good governance practices. These funds must provide transparency regarding their sustainability approach and relevant indicators.\"]}),/*#__PURE__*/e(\"h4\",{children:\"What is SFDR Article 9?\"}),/*#__PURE__*/t(\"p\",{children:[\"SFDR \",/*#__PURE__*/e(\"strong\",{children:\"Article 9 funds\"}),\" have a sustainable investment objective and must ensure that 100% of their investments qualify as sustainable investments under SFDR Article 2(17). They are also required to track and report Principal Adverse Impacts (PAIs) to comply with the \",/*#__PURE__*/e(\"strong\",{children:\"Do No Significant Harm (DNSH) principle\"}),\".\"]})]});export const richText5=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/features/automated-reporting\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"ESG reporting\"})}),\" has become a cornerstone for organizations aiming to communicate their sustainability initiatives and ethical business practices. To ensure accurate and effective ESG reports, data collection plays a critical role. Establishing best practices for collecting this data is essential to building reports that are structured, ordered, legible, and transparent. Below are Atlas Metrics' recommended principles for optimizing ESG data collection to ensure a successful reporting cycle.\"]}),/*#__PURE__*/e(\"h2\",{children:\"1. Structure: Organizing Data for Consistency and Comparability\"}),/*#__PURE__*/e(\"p\",{children:\"A structured approach to data collection ensures that information is both organized and coherent. In ESG reporting, companies often gather data from various sources, including environmental metrics, social responsibility initiatives, and governance policies. Without a well-defined structure, this data can become fragmented and difficult to interpret.\"}),/*#__PURE__*/e(\"h4\",{children:\"Best Practices for Structured Data Collection\"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Establish a Framework\"}),\": Use standardized ESG frameworks, including the GHG Protocol standards for \",/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/features/carbon-accounting\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"CCF calculations\"})}),\", GRI or TCFD for industry-specific sustainability frameworks, and regulatory standards like \",/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/blog/csrd-esrs\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"the ESRS under the CSRD regulation\"})}),\". These frameworks offer structured guidelines for categorizing ESG data, making it easier to present and compare results across different reporting periods and industries.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Standardized Metrics\"}),\": Ensure that the metrics used for measuring ESG performance are consistent. For example, carbon emissions should be reported in common units, such as tons of CO2 equivalent, and social impact should be tracked using clear indicators like employee diversity ratios or labor standards compliance.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Consistent Data Sources\"}),\": Identify and rely on consistent data sources to reduce variability in your reporting. Working with trusted suppliers, departments, and external verification systems ensures a more reliable data collection process.\"]})})]}),/*#__PURE__*/e(\"h2\",{children:\"2. Order: Prioritizing Data Collection for Materiality \"}),/*#__PURE__*/e(\"p\",{children:\"The order in which data is collected and reported is equally important. Prioritizing data based on its materiality\u2014how significant it is to stakeholders\u2014ensures that the most relevant information is at the forefront of your report.\"}),/*#__PURE__*/e(\"h4\",{children:\"Best Practices for Ordered Data Collection\"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Materiality Assessment\"}),\": Conduct a \",/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/blog/csrd-double-materiality-assessment\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"materiality assessment\"})}),\" to determine the ESG issues that are most relevant to your business and stakeholders. This helps in prioritizing data collection efforts and ensures that the final report focuses on key impact areas.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Strategic Sequencing\"}),\": Gather data in an order that aligns with reporting goals and stakeholder needs. For instance, collect high-priority environmental and social data early, especially if your company operates in industries with significant environmental impact, such as manufacturing or energy.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Phased Collection\"}),\": If data is collected over time, ensure that there is a clear plan for when and how each component is gathered. This phased approach helps avoid last-minute data rushes that may compromise accuracy.\"]})})]}),/*#__PURE__*/e(\"h2\",{children:\"3. Legibility: Making Data Easy to Interpret and Understand\"}),/*#__PURE__*/e(\"p\",{children:\"For ESG reports to have real impact, they need to be legible to both internal and external stakeholders. Legibility in this context refers to presenting data in a way that is easy to read, interpret, and act upon.\"}),/*#__PURE__*/e(\"h4\",{children:\"Best Practices for Legible Data Collection\"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Clear Definitions\"}),\": Define all ESG metrics and provide context for the data. For example, if reporting on \",/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/blog/understanding-scope-1-2-and-3-emissions\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Scope 3 emissions, make sure to explain how it differs from Scope 1 and 2 emissions\"})}),\".\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Use Visualizations\"}),\": Utilize charts, graphs, and other visual aids to make complex data easier to digest. Clear visualizations help stakeholders quickly grasp performance trends and comparisons without getting bogged down in raw data.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Consistent Reporting Formats\"}),\": Use templates or software tools to ensure that data is presented in a consistent format across all sections of the report. This minimizes confusion and enhances clarity.\"]})})]}),/*#__PURE__*/e(\"h2\",{children:\"4. Transparency: Ensuring Openness and Accountability\"}),/*#__PURE__*/e(\"p\",{children:\"Transparency is at the heart of effective ESG reporting. It refers to the degree to which stakeholders can trust the accuracy and honesty of the data being presented. Transparent data collection practices foster trust and demonstrate accountability.\"}),/*#__PURE__*/e(\"h4\",{children:\"Best Practices for Transparent Data Collection\"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Third-Party Verification\"}),\": Where possible, have your ESG data verified by third parties to enhance credibility. External audits or certifications from recognized institutions can validate your data and ensure stakeholders trust the information provided.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Disclose Methodologies\"}),\": Be upfront about how data was collected, including any assumptions made or methodologies used. This allows stakeholders and auditors to understand how conclusions were drawn and assess the reliability of the data.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Address Data Gaps\"}),\": If certain data is unavailable or incomplete, acknowledge the gaps rather than omitting the information. Transparency in reporting what you do and do not have reinforces your commitment to improvement.\"]})})]}),/*#__PURE__*/e(\"p\",{children:\"Adhering to these principles is essential for building credible, actionable ESG reports. By following these best practices, organizations can not only meet regulatory requirements but also demonstrate their commitment to sustainability and ethical governance, building trust among investors, customers, and the broader community.\"}),/*#__PURE__*/e(\"h2\",{children:\"Glossary\"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/e(\"p\",{children:\"CCF - Corporate Carbon Footprint\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/e(\"p\",{children:\"CSRD - Corporate Sustainability Reporting Directive\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/e(\"p\",{children:\"ESG - Environmental, Social, Governance\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/e(\"p\",{children:\"ESRS - European Sustainability Reporting Standards\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/e(\"p\",{children:\"GHG - Greenhouse Gas\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/e(\"p\",{children:\"GRI - Global Reporting Initiative\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",children:/*#__PURE__*/e(\"p\",{children:\"TCFD - Task Force on Climate-related Financial Disclosures\"})})]})]});export const richText6=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"On January 29, the European Commission launched the \",/*#__PURE__*/e(i,{href:\"https://commission.europa.eu/document/download/10017eb1-4722-4333-add2-e0ed18105a34_en\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Competitiveness Compass\"})}),\", a five-year strategy aimed at reinforcing the EU\u2019s economic position in an increasingly competitive global landscape. The strategy focuses on enhancing innovation, supporting industry, and simplifying regulation to ensure Europe remains a key player on the global stage.\"]}),/*#__PURE__*/e(\"h2\",{children:\"Why the EU Needs a Competitiveness Boost\"}),/*#__PURE__*/e(\"p\",{children:\"The EU has long been a leader in sustainability, social responsibility, and regulatory oversight. However, economic indicators show that it has struggled to keep pace with major economies like the U.S. and China, particularly in technological innovation and industrial competitiveness.\"}),/*#__PURE__*/t(\"p\",{children:[\"The Competitiveness Compass is a direct response to these growing economic challenges. Reports such as the \",/*#__PURE__*/e(i,{href:\"https://commission.europa.eu/topics/eu-competitiveness/draghi-report_en#paragraph_47059\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/t(n.a,{children:[/*#__PURE__*/e(\"strong\",{children:\"Draghi Report\"}),\" \"]})}),\"and \",/*#__PURE__*/e(i,{href:\"https://www.consilium.europa.eu/media/ny3j24sm/much-more-than-a-market-report-by-enrico-letta.pdf\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:/*#__PURE__*/e(\"strong\",{children:\"Letta Report\"})})}),/*#__PURE__*/e(\"strong\",{children:\" \"}),\"highlight high energy costs, excessive bureaucracy, and fragmented markets as key obstacles to European growth. Meanwhile, industry leaders and policymakers have called for reform through initiatives like the Antwerp Declaration for an Industrial Deal and the Budapest Declaration for a Competitiveness Deal.\"]}),/*#__PURE__*/e(\"p\",{children:\"At stake is more than just economic growth\u2014Europe\u2019s leadership in the green and digital transition while preserving its social market economy is on the line. The Competitiveness Compass aims to address these challenges without compromising sustainability, integrating economic resilience with climate leadership.\"}),/*#__PURE__*/e(\"h2\",{children:\"The Three Pillars of the Strategy\"}),/*#__PURE__*/e(\"p\",{children:\"The Competitiveness Compass focuses on three key priorities:\"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Closing the Innovation Gap \"}),\"\u2013 The EU must increase R&D investment, support start-ups, and accelerate technology adoption. Key initiatives include an EU Start-up and Scale-up Strategy and an EU Cloud and AI Development Act.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Decarbonization & Competitiveness\"}),\" \u2013 The Clean Industrial Deal will align climate policies with economic growth, including an Affordable Energy Action Plan to lower costs.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Reducing Dependencies & Strengthening Security\"}),\" \u2013 Europe must diversify supply chains, reduce reliance on single suppliers, and enhance economic security through new trade agreements and domestic manufacturing incentives.\"]})})]}),/*#__PURE__*/e(\"h2\",{children:\"Key Initiatives in the Competitiveness Compass\"}),/*#__PURE__*/e(\"p\",{children:\"The Competitiveness Compass introduces several key initiatives designed to boost European businesses while reinforcing the region\u2019s commitment to sustainability and innovation:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Regulatory Simplification\"}),\" \u2013 The Omnibus simplification package will streamline reporting obligations and cut red tape for businesses.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Single Market Expansion\"}),\" \u2013 Removing trade and investment barriers to create a more integrated business environment.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Strategic Investment \"}),\"\u2013 Establishing a Savings and Investments Union to direct European capital toward climate tech, AI, and other key sectors.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Energy & Infrastructure Overhaul \"}),\"\u2013 Deploying clean energy, modernized electric grids, and transport networks to support a low-carbon economy.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Defense & Security Boost \"}),\"\u2013 A White Paper on the Future of European Defense to strengthen Europe\u2019s industrial and economic resilience.\"]})})]}),/*#__PURE__*/e(\"h2\",{children:\"What This Means for ESG and Sustainability Reporting\"}),/*#__PURE__*/e(\"p\",{children:\"Sustainability remains a core pillar of the EU\u2019s strategy, but the Competitiveness Compass recognizes the growing complexity and reporting burden for businesses. In response, the Commission is committed to simplifying sustainability reporting to ensure that requirements remain effective, actionable, and not overly bureaucratic.\"}),/*#__PURE__*/t(\"p\",{children:[\"The first of a series of \",/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/blog/omnibus-update-march\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Omnibus simplification packages\"})}),\" is set to be released in \",/*#__PURE__*/e(\"strong\",{children:\"February 2025\"}),\" and aims streamline sustainability reporting by:\"]}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Reducing administrative burdens\"}),\" by 25% for all businesses and 35% for SMEs.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Simplifying the Corporate Sustainability Reporting Directive (CSRD)\"}),\" to allow companies to focus on delivering meaningful sustainability data without excessive red tape.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Aligning reporting requirements with investment needs\"}),\", ensuring that financial markets access relevant\u2014but not redundant\u2014ESG data.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Preventing unnecessary trickle-down effects\"}),\", ensuring that smaller companies aren\u2019t indirectly burdened with extensive sustainability reporting due to supply chain obligations.\"]})})]}),/*#__PURE__*/t(\"p\",{children:[\"To refine these regulatory changes, the European Commission will host a closed-door consultation on February 6, followed by a public consultation on February 26. The agenda will cover key regulatory files, including \",/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/csrd-landing\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"CSRD\"})}),\", \",/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/blog/csddd\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"CSDDD\"})}),\", \",/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/blog/navigating-the-eu-taxonomy-in-banking\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"EU Taxonomy\"})}),\", CBAM, and SME-related reporting requirements.\"]}),/*#__PURE__*/e(\"p\",{children:\"By removing inefficiencies and redundancies, the EU aims to maintain high sustainability reporting standards while enabling businesses to focus on innovation and growth rather than excessive compliance.\"}),/*#__PURE__*/e(\"h2\",{children:\"Next Steps\"}),/*#__PURE__*/e(\"p\",{children:\"The European Commission calls on EU institutions, national governments, and businesses to support the Competitiveness Compass. Progress will be tracked through annual reports and policy adjustments to ensure continued alignment with economic and sustainability goals.\"}),/*#__PURE__*/e(\"p\",{children:\"For businesses, this means less regulatory friction, increased access to innovation funding, and clearer sustainability reporting requirements. However, while the first Omnibus simplification package is expected to introduce changes, these will most likely not take immediate effect. With reporting deadlines approaching, companies should continue preparing their sustainability statements according to current regulatory frameworks, such as the CSRD, to remain compliant and avoid disruptions.\"}),/*#__PURE__*/e(\"p\",{children:\"As the EU implements this framework and details on the Omnibus simplification package emerge, businesses must remain agile, track regulatory developments, and engage in consultation opportunities. Leveraging digital tools and smart, data-driven ESG solutions will be key to ensuring compliance, maintaining competitiveness, and preparing for future regulatory shifts.\"})]});export const richText7=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:/*#__PURE__*/e(\"strong\",{children:\"Berlin, January 28th 2025\"})})}),/*#__PURE__*/e(\"p\",{children:\"Atlas Metrics, the leading all-in-one platform for ESG compliance and sustainability performance, welcomes Hern\\xe1n Magrini as its new Chief Technology Officer (CTO).\"}),/*#__PURE__*/e(\"p\",{children:\"Hern\\xe1n brings over 15 years of experience scaling mid-sized tech companies and implementing data-driven, compliance-focused technologies. Previously, he served as Senior Engineering Manager at Klarna and Head of Engineering at Miro, where he built high-performing teams, designed scalable architectures, and expanded product and engineering divisions.\"}),/*#__PURE__*/e(\"p\",{children:\"Hern\\xe1n joins Atlas Metrics as CTO at a pivotal moment as the company scales rapidly to meet the growing demand for automated reporting solutions. Under his leadership, Atlas will further expand the engineering team and built out the Atlas platform\u2019s capabilities in automation, AI, secure data sharing, and advanced analytics to help customers reduce costs, mitigate legal risks, and enable organizations to measure and communicate their impact efficiently.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"\u201CWe are incredibly excited to welcome Hern\\xe1n to Atlas. He is an outstanding leader with a remarkable talent for building world-class teams and scalable systems in complex, data-driven environments. Known for setting a high bar for innovation and engineering excellence at Klarna and Miro, Hern\\xe1n is bringing the same standard to Atlas to help us achieve the ambitious goals we have set,\u201D said Wladimir Nikoluk, CEO and Founder of Atlas Metrics.\"})}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"em\",{children:\"\u201CI\u2019m thrilled to join and lead our very talented and passionate engineering team. Our goal is to empower companies to not only meet compliance standards but also truly understand and improve their global impact. I look forward to achieving this together by creating next-generation, scalable tools,\u201D\"}),\" \u2013 added Hern\\xe1n Magrini, CTO of Atlas Metrics.\"]})]});export const richText8=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/t(\"em\",{children:[/*#__PURE__*/e(\"strong\",{children:\"DISCLAIMER\"}),\": The CSRD\",/*#__PURE__*/e(\"strong\",{children:\" \"}),\"is subject to change following the EU's Omnibus proposal. For a detailed breakdown of these changes and their implications, read our full analysis here: \"]}),/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/blog/omnibus-update-march\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:/*#__PURE__*/e(\"em\",{children:\"EU Omnibus Proposal Explained: What Organizations Need to Know & Do Next\"})})}),/*#__PURE__*/e(\"em\",{children:\".\"})]}),/*#__PURE__*/t(\"p\",{children:[\"The Corporate Sustainability Reporting Directive (CSRD) and \",/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/blog/csrd-esrs\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"the European Sustainability Reporting Standards (ESRS)\"})}),\" represent significant advancements in the European Union's approach to sustainability reporting. Replacing the Non-Financial Reporting Directive (NFRD), the CSRD broadens the scope of companies required to report on sustainability-related matters, introduces more detailed reporting requirements, and mandates assurance of the reported information. The ESRS, as a set of guidelines under the CSRD, outline the specific standards companies must follow, focusing on environmental, social, and governance (ESG) criteria. Together, these regulations bring about considerable changes and challenges for companies, such as the need for more comprehensive data collection, increased transparency, and alignment with global sustainability goals.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"Understanding and navigating these complex requirements is essential for businesses to ensure compliance. However, due to the sheer scope and complexity of the CSRD and ESRS, many organizations and practitioners seem to be confused or unsure about concrete reporting requirements. Fortunately, several documents and resources have been published recently that help to better understand and to demystify the regulation.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Now, let's explore six of these key documents that provide valuable insights and guidance on the CSRD and ESRS and its key concepts.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"em\",{children:\"Disclaimer:\"}),\" it is important to note that all resources and documents from EFRAG are non-authoritative, i.e. they are not legally binding. However, they are accepted as best practices among practitioners and thus can provide helpful interpretations and guidelines on certain topics.\"]}),/*#__PURE__*/e(\"h3\",{children:\"1. EFRAG Implementation Guidance IG 1 - Materiality Assessment\"}),/*#__PURE__*/t(\"p\",{children:[\"The \",/*#__PURE__*/e(i,{href:\"https://www.efrag.org/sites/default/files/sites/webpublishing/SiteAssets/IG%201%20Materiality%20Assessment_final.pdf\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Implementation Guidance IG1 \"})}),\"describes the unique approach of ESRS towards the materiality concept, how the materiality assessment is to be performed, how other existing resources can be leveraged and finishes up with frequently asked questions. \"]}),/*#__PURE__*/e(\"p\",{children:\"To summarize, the ESRS sustainability statement must provide relevant and accurate information about all impacts, risks, and opportunities (IROs) related to environmental, social, and governance matters, determined through a materiality assessment. In particular, ESRS requires a double materiality assessment (DMA). Double materiality is an approach to identifying and prioritizing sustainability issues that are most material (or critical) to an organization from the two perspectives \u201CImpact materiality\u201D and the \u201CFinancial materiality\u201D. For more information on the Double Materiality Assessment, feel free to have a look at our blog post on the DMA. The DMA considers the entire value chain and identifies material IROs to be reported. The process includes stakeholder engagement and is guided by criteria like severity and likelihood. While ESRS do not mandate a specific method for this assessment, they require transparency in the process and allow flexibility in how it is conducted. The final report must disclose the material IROs and their interaction with the company's strategy.\"}),/*#__PURE__*/e(\"h3\",{children:\"2. EFRAG Implementation Guidance IG 2 - Value Chain\"}),/*#__PURE__*/t(\"p\",{children:[\"Given the complexity of the value chain concept, which is closely linked to the materiality assessment required by the ESRS (as outlined in IG 1), the \",/*#__PURE__*/e(i,{href:\"https://www.efrag.org/sites/default/files/sites/webpublishing/SiteAssets/EFRAG%20IG%202%20Value%20Chain_final.pdf\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Implementation Guidance IG2 \"})}),\"provides a detailed exploration of how to effectively navigate value chain considerations under both the ESRS and CSRD. \"]}),/*#__PURE__*/e(\"p\",{children:\"To sum up, the sustainability statement must also include material IROs particularly related to the value chain, focusing on where these IROs might arise in the value chain (e.g. geographies, activities/sectors, operations, suppliers, customers, other relationships, etc.). While value chain information is not needed for all disclosures, it is necessary when connected to material IROs outside of the own operations due to business relationships. If this value chain data is unavailable, the company should estimate the missing information.\"}),/*#__PURE__*/e(\"h3\",{children:\"3. EFRAG Implementation Guidance IG 3 - Detailed ESRS datapoints and accompanying Explanatory Note\"}),/*#__PURE__*/t(\"p\",{children:[\"This document is arguably one of the most valuable resources for practitioners, as it simplifies the complex and interwoven regulations into clear, discrete data points within an Excel file. It\u2019s important to emphasize that these data points are non-authoritative, meaning that reporting on all of them does not guarantee full CSRD compliance. However, this document serves as a highly useful tool for conducting an initial gap analysis, helping organizations identify available data and pinpoint what\u2019s still missing. Click \",/*#__PURE__*/e(i,{href:\"https://efrag.sharefile.com/share/view/s6e410fb208aa4685bf9c482ee405f48d/foa75419-44c9-4081-85a5-43217a6e8732\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"here\"})}),\" for the detailed ESRS data points and the \",/*#__PURE__*/e(i,{href:\"https://www.efrag.org/sites/default/files/sites/webpublishing/SiteAssets/EFRAG%20IG%203%20List%20of%20ESRS%20Data%20Points%20-%20Explanatory%20Note.pdf\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"explanatory note\"})}),\".\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"In the Excel file, the data points are defined for the cross-cutting standard ESRS 2 and each topical standard. In addition to a unique ID and the reference to the regulation, the Excel file defines for each data point the unit type, if its conditional or alternative, if its voluntary, to which other standards it relates to and if it is subject to certain phasing-in provisions for certain companies. In total, the file comprises roughly 1200 separate data points (depending on how one counts the data points for the Minimum Disclosure Requirements or MDRs).\"}),/*#__PURE__*/e(\"h3\",{children:\"4. EFRAG Draft ESRS Set 1 XBRL Taxonomy\"}),/*#__PURE__*/t(\"p\",{children:[\"As part of its mandate from the European Commission to develop a digital XBRL taxonomy for the ESRS, EFRAG released the first draft of the \",/*#__PURE__*/e(i,{href:\"https://www.efrag.org/en/projects/esrs-xbrl-taxonomy/exposure-draft-consultation\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"ESRS Set 1 XBRL Taxonomy\"})}),\" in February 2024. This taxonomy serves as a classification system aligned with ESRS standards, defining and structuring data elements while clarifying mandatory data points for ESRS compliance. It is particularly valuable for companies advanced in their CSRD compliance journey, as it further disaggregates the required data points compared to the EFRAG IG3 data and provides insight into the tags that will be used in the digital tagging process. For more details, check out our blog post on the XBRL Taxonomy.\"]}),/*#__PURE__*/e(\"h3\",{children:\"5. EFRAG ESRS Q&A Platform compilation of explanations\"}),/*#__PURE__*/t(\"p\",{children:[\"To aid practitioners and stakeholders in the implementation and interpretation of the ESRS, EFRAG has established a non-authoritative \",/*#__PURE__*/e(i,{href:\"https://www.efrag.org/sites/default/files/media/document/2024-07/Compilation%20Explanations%20January%20-%20July%202024.pdf\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Q&A platform\"})}),\" designed to address unresolved technical questions. To date, 93 questions have been published, categorized by topical area. Each entry provides the question, relevant ESRS references, key terms, background context, and expert answers from EFRAG. This platform serves as a valuable resource for clarifying complex terms, topics, and concepts, ensuring a comprehensive understanding of the ESRS.\"]}),/*#__PURE__*/e(\"h3\",{children:\"6. Draft Commission Notice \"}),/*#__PURE__*/t(\"p\",{children:[\"In August 2024, the European Commission released a draft notice on the interpretation of certain legal provisions [...] as regards to sustainability reporting, providing additional clarifications on the requirements of the CSRD and ESRS, complementing the answers already published by EFRAG on their Q&A platform. This \",/*#__PURE__*/e(i,{href:\"https://finance.ec.europa.eu/document/download/c4e40e92-8633-4bda-97cf-0af13e70bc3f_en?filename=240807-faqs-corporate-sustainability-reporting_en.pdf\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"draft notice\"})}),\", which addresses frequently asked questions, aims to enhance legal certainty and improve the comparability of sustainability disclosures. Although the document is still in draft form and subject to change before the final notice is published, it serves as an important reference for resolving uncertainties in the interpretation and application of the ESRS, offering further guidance alongside EFRAG's technical responses. \"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})})]});export const richText9=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"Financed emissions refer to the greenhouse gas (GHG) emissions associated with the investment and lending activities of financial institutions. These emissions derive from the operations of companies within a financial institution's portfolio, with the emissions share allocated based on the proportion of each company\u2019s activities that the institution finances.\"}),/*#__PURE__*/e(\"p\",{children:'According to the Greenhouse Gas (GHG) Protocol, emissions are divided into three main categories, or \"scopes\":'}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Scope 1\"}),\": Direct emissions from sources directly owned or controlled by the company, such as company owned vehicles and fuel based heating systems.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Scope 2\"}),\": Indirect emissions from the generation of purchased electricity, steam, heating, and cooling.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Scope 3\"}),\": All other indirect emissions throughout the value chain, including activities not directly managed by the company. Scope 3 is further broken down into 15 sub-categories.\"]})})]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Financed emissions\"}),\" fall under \",/*#__PURE__*/e(\"strong\",{children:\"Scope 3\"}),\", \",/*#__PURE__*/e(\"strong\",{children:\"sub-category 15\"}),\", which specifically accounts for emissions from investments and lending activities.\"]}),/*#__PURE__*/t(\"p\",{children:[\"Companies typically required to disclose their financed emissions include \",/*#__PURE__*/e(\"strong\",{children:\"banks\"}),\", \",/*#__PURE__*/e(\"strong\",{children:\"insurance firms\"}),\" and \",/*#__PURE__*/e(\"strong\",{children:\"asset managers\"}),\".\\xa0\"]}),/*#__PURE__*/e(\"h2\",{children:\"What is PCAF?\"}),/*#__PURE__*/t(\"p\",{children:[\"The guidelines for measuring and reporting financed emissions are outlined in the \",/*#__PURE__*/e(\"strong\",{children:\"Global GHG Accounting and Reporting Standard for the Financial Industry\"}),\", developed by The Partnership for Carbon Accounting Financials (PCAF). PCAF is an industry-led initiative that aligns with the GHG Protocol Corporate Accounting and Reporting Standard, providing a framework for financial institutions to accurately measure and report the greenhouse gas emissions resulting from their lending and investment activities.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"The latest iteration of the standard offers guidance for seven asset classes:\"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/t(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:[/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Listed equity and corporate bonds:\"}),\" This category covers all on-balance sheet listed corporate bonds and equities traded on a market for general corporate purposes (i.e., unknown use of proceeds), including:\"]}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"All types of corporate bonds for general corporate purposes\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"Common stock\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[\"Preferred stock\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]})})]})]}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Business loans and unlisted equity\"}),\": This asset class covers business loans and equity investments in private companies, also known as unlisted equity. It includes all on-balance sheet loans and lines of credit to businesses, nonprofits, and other organizations that are not traded on a market and are for general corporate purposes. Unlisted equity refers to all on-balance sheet equity investments to businesses, nonprofits, and other organizations that are not market-traded and are for general corporate purposes.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Project finance\"}),\": This category includes all on-balance sheet loans or equities designated for specific projects or activities with known use of proceeds, as defined by the GHG Protocol. This can include, for example, financing for the construction and operation of gas-fired power plants, wind or solar projects, or energy efficiency projects.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Commercial real estate\"}),\": This asset class includes on-balance sheet loans for specific corporate purposes, specifically the purchase and refinance of commercial real estate (CRE), as well as on-balance sheet investments in CRE where the financial institution does not have operational control over the property. These properties are used for commercial purposes such as retail, hotels, and office spaces.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mortgages\"}),\": This class includes on-balance sheet loans for specific consumer purposes, namely the purchase and refinance of residential properties, including individual homes and small multifamily housing units. These properties are used for residential purposes, not commercial activities.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Motor vehicle loans:\"}),\" This asset class refers to on-balance sheet loans and lines of credit to businesses and consumers for specific (corporate or consumer) purposes - namely the finance of motor vehicles. There is no specific list of vehicle types falling within this asset class. The financial institution shall define the types of vehicles included in their financed emissions inventories and provide transparent explanations for any exclusions.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Sovereign debt\"}),\": This asset class covers sovereign bonds and loans of all maturities issued in domestic or foreign currencies. These loans and bonds involve transferring funds to the borrowing country, creating a debt obligation to be repaid. Sub-sovereign and municipal counterparties are excluded due to limited data availability and their lack of direct subjectivity to international GHG emissions inventory standards.\"]})})]}),/*#__PURE__*/t(\"p\",{children:[\"The graphic below, \",/*#__PURE__*/e(i,{href:\"https://carbonaccountingfinancials.com/files/downloads/PCAF-Global-GHG-Standard.pdf\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"sourced from the Global GHG Accounting and Reporting Standard for the Financial Industry\"})}),\", provides an overview of various asset classes and offers guidance on selecting the appropriate approach for calculating financed emissions.\"]}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"625\",src:\"https://framerusercontent.com/images/afXjhCPZvBEyuJkN8iCM1YwpbwI.png\",srcSet:\"https://framerusercontent.com/images/afXjhCPZvBEyuJkN8iCM1YwpbwI.png?scale-down-to=512 512w,https://framerusercontent.com/images/afXjhCPZvBEyuJkN8iCM1YwpbwI.png?scale-down-to=1024 1024w,https://framerusercontent.com/images/afXjhCPZvBEyuJkN8iCM1YwpbwI.png 1270w\",style:{aspectRatio:\"1270 / 1250\"},width:\"635\"}),/*#__PURE__*/e(\"h2\",{children:\"Why measure financed emissions?\"}),/*#__PURE__*/e(\"p\",{children:\"Measuring financed emissions enables financial institutions to directly engage with the climate risks and opportunities associated with their investment portfolios, actively supporting the global transition to a net-zero economy. By tracking these emissions, institutions can more effectively allocate capital toward sustainable solutions and identify sectors making the fastest progress toward decarbonization.\"}),/*#__PURE__*/e(\"p\",{children:\"Furthermore, In the European Union, the EU Taxonomy Regulation requires that financial market participants and advisors disclose how their activities align with environmental objectives, including climate change mitigation. This includes reporting on the carbon footprint of their investments.\"}),/*#__PURE__*/e(\"h2\",{children:\"How financed emissions are calculated?\"}),/*#__PURE__*/e(\"p\",{children:\"Calculating financed emissions involves specific methodologies tailored to each asset class. The emissions scopes included in each asset class can vary, and the formula used to attribute emissions also depends on the asset class. Each methodology requires different emissions data points, which can have various levels of validity and quality.\"}),/*#__PURE__*/e(\"p\",{children:\"Generally, emissions from investments should be allocated to the reporting company based on its proportional share of investment in the investee. Since investment portfolios are dynamic and can change frequently throughout the reporting year, companies should identify investments by selecting a fixed point in time, such as December 31 of the reporting year, or by using a representative average over the course of the reporting year.\"}),/*#__PURE__*/e(\"h3\",{children:\"Example: Overview of the methodology for Business loans and unlisted equity\"}),/*#__PURE__*/e(\"p\",{children:\"Financial institutions are required to report the absolute Scope 1 and Scope 2 emissions of borrowers and investees across all sectors. For sectors where Scope 3 emissions reporting is necessary, these absolute Scope 3 emissions shall be disclosed separately, including the specific sectors covered.\"}),/*#__PURE__*/e(\"h2\",{children:\"Attribution of emissions\"}),/*#__PURE__*/e(\"p\",{children:\"The principle for attributing emissions involves the financial institution accounting for a portion of the annual emissions of the borrower or investee. This portion is determined by the ratio between the outstanding amount (numerator) and the value of the financed company (denominator), known as the attribution factor.\"}),/*#__PURE__*/e(\"p\",{children:\"For business loans and equity investments to/in private companies:\"}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"58\",src:\"https://framerusercontent.com/images/d30qUnariFU8AD6CnjrNpb9iE4.png\",style:{aspectRatio:\"436 / 116\"},width:\"218\"}),/*#__PURE__*/e(\"p\",{children:\"For business loans to listed companies:\"}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"45\",src:\"https://framerusercontent.com/images/DjJu3UG93emyND5jh2hJQP13gXA.png\",style:{aspectRatio:\"437 / 90\"},width:\"218\"}),/*#__PURE__*/e(\"p\",{children:\"Where:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/t(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:[/*#__PURE__*/t(\"p\",{children:[\"The \",/*#__PURE__*/e(\"strong\",{children:\"Outstanding amount\"}),\" is the actual outstanding loan amount.\"]}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"For business loans,this is defined as the value of the debt that the borrower owes to the lender.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"For unlisted equity (i.e., equity investments in private companies), the outstanding amount is the outstanding value of equity that the financial institution holds in the private company.\"})})]})]}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Total equity + debt\"}),\" is the sum of total company equity and debt, which can be found on the client\u2019s balance sheet.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"EVIC\"}),\" is the company enterprise value including cash.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"C \"}),\"is the borrower or investee company.\"]})})]}),/*#__PURE__*/e(\"p\",{children:\"The equation to calculate financed emissions is:\"}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"45\",src:\"https://framerusercontent.com/images/2Q4E3q7ZwJUPmAuxVgAs4pJc6M.png\",srcSet:\"https://framerusercontent.com/images/2Q4E3q7ZwJUPmAuxVgAs4pJc6M.png?scale-down-to=512 512w,https://framerusercontent.com/images/2Q4E3q7ZwJUPmAuxVgAs4pJc6M.png 765w\",style:{aspectRatio:\"765 / 90\"},width:\"382\"}),/*#__PURE__*/e(\"h2\",{children:\"Emissions data\"}),/*#__PURE__*/e(\"p\",{children:\"PCAF outlines three options to calculate the financed emissions from business loans and unlisted equity, based on the type of emissions data used:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Option 1: Reported emissions\"}),\", verified or unverified emissions are collected directly from the borrower or investee company and allocated to the reporting financial institution using the attribution factor.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Option 2: Physical activity-based emissions\"}),\", emissions are estimated by the reporting financial institution based on primary physical activity data collected from the borrower or investee, then allocated using the attribution factor.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Option 3: Economic activity-based emissions\"}),\",emissions are estimated by the reporting financial institution based on economic activity data from the borrower or investee (e.g., revenue or assets in euro/dollars) and allocated using the attribution factor.\"]})})]}),/*#__PURE__*/e(\"p\",{children:\"By following these methodologies, financial institutions can accurately attribute and report the emissions associated with their business loans and unlisted equity investments.\"}),/*#__PURE__*/e(\"h2\",{children:\"Challenges in measuring financed emissions\"}),/*#__PURE__*/e(\"p\",{children:\"Financial institutions face several challenges in accurately measuring their financed emissions:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Data availability\"}),\": Gathering comprehensive data on emissions associated with investments can be complex. Financial institutions often have portfolios spanning multiple asset classes, sectors, and geographies, making it challenging to collect data from various sources.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Limited access to GHG data\"}),\": Engaging with investee companies and obtaining their emissions data can be a significant challenge. Some companies may not measure GHG emissions at all, and even those that do, may not share this information publicly.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Data quality:\"}),\" Assessing the reliability of emissions data can be challenging, as inaccuracies, omissions, or incomplete reporting can lead to inconsistencies and limit comparability across companies.\"]})})]}),/*#__PURE__*/e(\"h2\",{children:\"How can financial institutions start measuring their financed emissions?\"}),/*#__PURE__*/e(\"p\",{children:\"The following steps provide a practical starting point and guidance for collecting and calculating financed emissions data:\"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Establish a clear methodology\"}),\": Adopt a standardized approach, such as PCAF methodology, to ensure consistency in measuring and reporting financed emissions across your portfolio.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Engage with portfolio companies\"}),\": Proactively reach out to companies within your portfolio to request emissions data and encourage transparent reporting.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Use industry benchmarks and proxy data\"}),\": When direct data isn\u2019t available, consider using industry averages or estimates as a temporary solution to fill data gaps.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Invest in data management tools\"}),\": Implement specialized data management and tracking systems to efficiently collect and monitor emissions data across diverse asset classes and geographies.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Continuously review and update data collection practices\"}),\": Regularly refine your data collection and calculation processes to improve accuracy in emission measurement.\"]})})]}),/*#__PURE__*/e(\"p\",{children:\"At Atlas Metrics, we are here to help you navigate the complexities of calculating your financed emissions and Scope 3.15 across various asset classes. Our approach is based on the latest PCAF guidelines, offering solutions to simplify data collection and ensure accuracy.\"})]});export const richText10=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"Since its implementation in March 2021, the \",/*#__PURE__*/e(\"strong\",{children:\"Sustainable Finance Disclosure Regulation (SFDR)\"}),\" has become a cornerstone in the EU's efforts to promote greater transparency in financial markets, requiring in-scope entities to demonstrate their commitment to sustainability.\\xa0\"]}),/*#__PURE__*/e(\"h2\",{children:\"What is the SFDR and Who\u2019s in Scope?\"}),/*#__PURE__*/e(\"p\",{children:\"The SFDR is an EU regulation designed to enhance transparency in the financial markets by standardizing sustainability-related disclosures. The ultimate goal of SFDR reporting is to ensure that investors have access to clear and consistent information about the ESG claims made by financial products.\"}),/*#__PURE__*/e(\"p\",{children:\"The scope of the SFDR includes mainly 2 types of entities:\"}),/*#__PURE__*/t(\"ol\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Financial market participants\"}),\": Manufacturers of financial products such as asset managers, venture capital funds, private equity funds etc.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Financial advisers\"}),\": Entities that provide investment advice, including investment advisors, insurance companies, and similar firms.\"]})})]}),/*#__PURE__*/e(\"p\",{children:\"In terms of geography, the SFDR affects EU-based entities but also non-EU based entities if they market products within the EU and/or to EU investors.\"}),/*#__PURE__*/e(\"h2\",{children:\"Understanding Product Classifications: Articles 6, 8, and 9\"}),/*#__PURE__*/t(\"p\",{children:[\"One of the most crucial elements of the SFDR\",/*#__PURE__*/e(\"strong\",{children:\" \"}),\"is the classification of financial products \",/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/blog/csrd-keylinks-sfdr\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"based on their ambition level of ESG consideration\"})}),\". Products fall into three main categories:\"]}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Article 6\"}),\": \u200BThese products do not integrate ESG or sustainability-related strategies into their investments. They represent the baseline classification, covering all financial products that do not actively promote sustainability.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Article 8\"}),': Often referred to as \"light green\" funds, these products promote environmental and/or social characteristics but do not have a sustainability objective. However, they may choose to allocate a percentage of their portfolio to sustainable investments.']})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Article 9\"}),': Known as \"dark green\" funds, these products have sustainable investments as their objective. They are required to allocate 100% of their investments to sustainable investments, as defined under SFDR article 2 (17).']})})]}),/*#__PURE__*/e(\"p\",{children:\"As defined under SFDR article 2 (17), a \u201Csustainable investment\u201D refers to an investment in an economic activity that contributes to an environmental and/or social objective, provided that such investment does not significantly harm any of those objectives and that the investee companies follow good governance practices. This makes Article 9 requirements particularly challenging, as these products must demonstrate meeting the requirements of 100% sustainable investments. Consequently, Article 9 products tend to be less common than Article 8 products in the financial sector.\"}),/*#__PURE__*/e(\"h3\",{children:\"Further Distinctions within Article 8: Light Green vs. Medium Green\"}),/*#__PURE__*/t(\"p\",{children:[\"Although the regulation itself does not mandate a formal split within \",/*#__PURE__*/e(\"strong\",{children:\"Article 8\"}),\", the industry has informally created a distinction over the past few years due to the broad range of financial products that fall under this classification. The two emerging subcategories are:\"]}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Article 8\"}),': \u200BReferred to as \"light green\" funds, these products promote environmental and/or social characteristics without committing to sustainable investments (0% sustainable investments).']})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Article 8+ \"}),': Referred to as \"medium green\" funds, these products promote environmental and/or social characteristics AND also allocate a percentage of the portfolio to sustainable investments. Since they incorporate some elements of Article 9 funds, their ambition and reporting requirements are more complex than those of standard Article 8 products.']})})]}),/*#__PURE__*/e(\"h2\",{children:\"Reporting Levels and Types of Disclosure Requirements\"}),/*#__PURE__*/e(\"p\",{children:\"The SFDR has two main overarching reporting levels: entity-level and product level.\\xa0For each of these reporting levels, the disclosure requirements come in three different forms: pre-contractual disclosures, website disclosures, and periodic disclosures.\"}),/*#__PURE__*/e(\"p\",{children:\"See below a visual representation of these reporting levels and the associated disclosures.\"}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"1125\",src:\"https://framerusercontent.com/images/HiaYScQ67Ur0a2cvBBGy4jwihw.png\",srcSet:\"https://framerusercontent.com/images/HiaYScQ67Ur0a2cvBBGy4jwihw.png?scale-down-to=512 512w,https://framerusercontent.com/images/HiaYScQ67Ur0a2cvBBGy4jwihw.png?scale-down-to=1024 1024w,https://framerusercontent.com/images/HiaYScQ67Ur0a2cvBBGy4jwihw.png?scale-down-to=2048 2048w,https://framerusercontent.com/images/HiaYScQ67Ur0a2cvBBGy4jwihw.png 4000w\",style:{aspectRatio:\"4000 / 2250\"},width:\"2000\"}),/*#__PURE__*/e(\"h3\",{children:\"Entity-Level Disclosures\"}),/*#__PURE__*/t(\"p\",{children:[\"The purpose of entity-level disclosures is to provide a comprehensive overview of the entity\u2019s overall sustainability strategy and how ESG factors are integrated into the investment process. Entity level disclosures take the form of \",/*#__PURE__*/e(\"strong\",{children:\"website disclosures\"}),\" and consist of three key types of sustainability information:\"]}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Sustainability risk policies\"}),\": Entities must disclose their policies on integrating sustainability risks into their investment decision-making processes.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Consideration of Principal Adverse Impact (PAI) indicators at entity-level\"}),\": Entities must provide information on how they consider the Principal Adverse Impact (PAIs) of their investment decisions on sustainability factors. Note: entity-level PAI reporting is mandatory only for large entities with > than 500 employees, with reporting deadline June 30th of each year.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Remuneration policies\"}),\": Entities must disclose their remuneration policies, specifically detailing how these policies align with the integration of sustainability risks.\"]})})]}),/*#__PURE__*/e(\"h3\",{children:\"Product-Level Disclosures\"}),/*#__PURE__*/e(\"p\",{children:\"Product-level disclosures require specific information for each financial product, aimed at informing investors about the product\u2019s ESG ambition and strategy. For entities managing multiple funds, separate product-level disclosures must be prepared for each fund. These disclosures apply to funds classified as Article 8 and Article 9, and they take three main forms:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Pre-contractual disclosures\"}),\": \u200BThese provide information of the sustainability strategy of the financial product, binding for investment decisions\u200B. Typically, this document is usually drafted as part of pre-investment documentation and distributed internally\u200B.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Website disclosures\"}),': These provide key sustainability information of the product (subset of pre-contractual information) and shall be publicly available on the website\u200B\u200B. These disclosures should be published in a dedicated section, ideally below the \"Entity-level\" disclosures, and kept regularly updated.']})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Periodic disclosures\"}),\": These provide a summary of the financial product's performance related to the SFDR, similar to a periodic report. Prepared annually, this document is typically shared with end-investors alongside the fund\u2019s annual report. Additionally, periodic disclosures often include the results of the ESG metrics tracked by portfolio companies, such as PAI indicators if the fund decides to consider and report them at the product level.\"]})})]}),/*#__PURE__*/t(\"p\",{children:[\"To comply with the SFDR, financial entities shall fulfill the disclosure requirements outlined above, following the templates provided by the EU in Annexes I to V (For more information, \",/*#__PURE__*/e(i,{href:\"https://www.esma.europa.eu/document/sfdr-templates\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"link here\"})}),\").\"]}),/*#__PURE__*/e(\"h2\",{children:\"Principal Adverse Impacts (PAIs) indicators\"}),/*#__PURE__*/t(\"p\",{children:[\"While most SFDR reporting requires qualitative information from financial entities, the regulation also introduced a key quantitative component in the form of \",/*#__PURE__*/e(\"strong\",{children:\"Principal Adverse Impact (PAI) indicators \"}),\"\u2014 ESG metrics designed to standardize sustainability reporting. These indicators are crucial as they require to demonstrate how investments might mitigate any potential harm.\"]}),/*#__PURE__*/t(\"p\",{children:[\"PAI indicators cover environmental and social metrics and are structured in three tables under Annex I. Examples include \",/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/blog/understanding-scope-1-2-and-3-emissions\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"GHG emissions (Scope 1,2,3)\"})}),\", unadjusted gender pay gap, and board gender diversity.\"]}),/*#__PURE__*/e(\"p\",{children:\"In terms of compliance, mandatory PAI reporting falls in two primary cases:\"}),/*#__PURE__*/t(\"ul\",{children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:\"At the entity level, for large financial entities with more than 500 employees.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"11px\",\"--framer-text-color\":\"rgb(0, 0, 0)\",\"--framer-text-decoration\":\"none\"},children:/*#__PURE__*/e(\"p\",{children:'At the product level, for Article 8+ and Article 9 financial products that commit to sustainable investments and must meet the \"do no significant harm\" (DNSH) criteria, as outlined by SFDR definition requirements.\\xa0'})})]}),/*#__PURE__*/e(\"h2\",{children:\"How to Prepare for SFDR Reporting\"}),/*#__PURE__*/e(\"p\",{children:\"Financial entities must take proactive steps to prepare for the SFDR reporting. Key actions include:\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Evaluate current ESG status: \"}),\"Assess your entity's existing ESG status and outline the necessary steps to establish an effective ESG reporting process that aligns with your fund\u2019s sustainability strategy.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Train teams on SFDR requirements: \"}),\"Ensure that all relevant team members are well-informed about the SFDR regulation and equipped to initiate the SFDR journey.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Comply with disclosure requirements: \"}),\"Ensure all required disclosures are prepared (pre-contractual, website, and periodic disclosures).\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Implement a data collection process: \"}),\"Collect data for the sustainability performance of portfolio companies - starting with PAI indicators - for your first reporting cycle.\"]}),/*#__PURE__*/e(\"h2\",{children:\"Summary \"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(i,{href:\"https://www.atlasmetrics.io/sfdr-landing\",motionChild:!0,nodeId:\"HpqY_geCm\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"SFDR reporting\"})}),\" is achieved by meeting disclosure requirements, but the regulation offers flexibility in how firms fulfill these. While the SFDR mandates the structure for disclosures through templates, it leaves room for interpretation regarding the specific content that constitutes compliance. Funds must clearly explain how they fulfill the requirements of their chosen classification - Article 8, 8+, or 9 - and ensure that portfolio companies provide the necessary data to align with the fund\u2019s ESG strategy.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"Finally, the SFDR is continuously evolving, with ongoing consultations and reviews from the EU aimed at improving reporting efficiency. More updates might come in 2025, so stay tuned!\"}),/*#__PURE__*/e(\"p\",{children:\"At Atlas Metrics, we understand how challenging it can be for funds to navigate SFDR regulatory requirements.\"})]});export const richText11=/*#__PURE__*/t(r.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"Atlas Metrics is proud to announce its inclusion in the third annual ESGFinTech100 list, released today. Curated by Fintech Global, it highlights the top 100 innovative companies in the ESG space, selected by industry experts for their cutting-edge solutions in the financial services sector. This year\u2019s list comes as the urgency for sustainability among financial institutions has surged, with regulators and consumers increasingly aligning with firms that reflect their values.\"}),/*#__PURE__*/e(\"p\",{children:\"The importance of ESG FinTech solutions is further highlighted by its resilience amid a broader market downturn. While most areas of FinTech suffered a dry spell in funding during 2023, ESG FinTech investment remained relatively stable at $28.8bn.\"}),/*#__PURE__*/e(\"p\",{children:\"A panel of industry experts meticulously reviewed over 500 ESG tech companies, using comprehensive data from FinTech Global to identify the leaders based on innovative technology solutions addressing significant industry challenges and contributions to ESG imperatives.\"}),/*#__PURE__*/t(\"p\",{children:['Richard Sachar, Director of FinTech Global, stated, \"',/*#__PURE__*/e(\"em\",{children:\"ESG-focused frameworks like CSRD are becoming more common around the world. Financial institutions face mounting requirements for ESG reports and alignment to sustainability targets. The ESGFinTech100 serves as a crucial resource for senior management, helping them identify the leading ESG tech companies. The detailed company profiles offer insights into their solutions, the challenges they address, their operational regions, and more. This guide is essential for any organization committed to achieving net-zero targets.\u201D\"})]}),/*#__PURE__*/e(\"p\",{children:\"Atlas Metrics simplifies ESG compliance for investors and portfolio companies through an integrated, end-to-end platform. Automations for SFDR compliance, carbon accounting, decarbonization strategies, and portfolio engagement streamline tasks into a cohesive workflow, reducing duplication, minimizing errors, and cutting costs. This capability is essential as ESG performance increasingly influences financial outcomes, including market share and cost of capital. Beyond compliance, Atlas Metrics transforms ESG data into actionable insights. 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