Analysis of ESG reports of 100 European companies shows how business is coping with new sustainability rules

How prepared are major companies in the European Union to meet the new sustainability and ESG reporting obligations, according to the latest analysis by Frank Bold. It looked at 100 companies operating in one of five key sectors: textiles, finance, road transport, energy or food and drink. The findings of the analysis will inform the further development of sector-specific sustainability standards.

Register and download the analysis

Frank Bold's analysts were particularly interested in companies operating in areas with a high environmental and social impact. In ESG reports, experts focused on the dual materiality assessment process and its results, climate reporting and transition plans, due diligence on sustainability, and reporting on biodiversity impacts. The authors have identified key challenges and best practices that can help companies in the same sector. Frank Bold thus provides a first reflection on how EU businesses are prepared to meet the expectations of upcoming sustainability rules and standards.

Following the EU's Corporate Sustainability Reporting Directive (CSRD), large companies will start reporting against the first set of European Sector Sustainability Reporting Standards (ESRS) in 2025. This legal framework has been adopted to improve and modernise corporate sustainability reporting and address market failures in providing relevant, comparable sustainability information useful for decision-making.

“Our research shows that overly complicated approaches should be avoided. We recommend that companies focus on a good assessment of dual materiality, take the time to properly prepare their climate change plans and leverage synergies between due diligence and sustainability reporting processes," summarises the analysis by Filip Gregor, senior ESG expert at Frank Bold Advisory and head of the Responsible Business team at Frank Bold. 

Already on Tuesday, 19 November at 9.30 a.m., Frank Bold experts will present the analysis in detail to interested parties in an international online webinar. "We will focus in particular on how companies are meeting the requirements of the CSRD, the EU's corporate sustainability reporting directive, and the European sustainability reporting standards ESRS," added Gregor. He also noted that the research was not intended to capture a complete picture of companies' sustainability reporting practices, but rather to provide strategic insights on key elements that will support better understanding and implementation of the new European standards.

The findings of the analysis will serve as a basis for further development of sector-specific sustainability standards and implementation guidelines, with an emphasis on climate reporting and sustainability due diligence.

Register and download the analysis