After defeating an attempt to scrap the European Sustainability Reporting Standards (ESRS), the European Parliament reaffirmed its commitment to their effort to enhance transparency in corporate sustainability reporting. The reporting guidelines include a strong emphasis on the importance of water.
The ESRS implement the Corporate Sustainability Reporting Directive and make sustainability disclosures mandatory for around 50.000 companies. The standards have been created to provide better insight into companies' sustainability performances and go into effect in January 2023.
Sustainability efforts around the world increasingly consider the importance of water. The ESRS framework, created by the European Financial Reporting Advisory Group (EFRAG), has a specific section dedicated to water and marine resources, and emphasizes the UN Sustainability Development Goals.
In the currently available documents on the basis for the ESRS conclusions, current global water challenges are outlined – like the growing world population increasing the water demand by 55% and that the 'ability of nature to maintain clean water is likely to be disrupted.' The ESRS will outline the exact ways in which companies need to disclose their water consumption, storage, withdrawals, and discharges.
Smartvatten's services were created to help companies minimize their water consumption by reducing waste and quick detection of leaks and anomalies. With optimized water efficiency, we can make a positive impact on the environment. Our services include highly accurate and detailed insights and data, excellently suited to meet reporting directives and ESG certificate standards.
Want to find out more about how Smartvatten can help your company report on water? Contact us at info@smartvatten.com!
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