The first comprehensive guide to ESG reporting: unique guidelines created by Frank Bold

A new unique guide, developed by Frank Bold experts for the Prague Stock Exchange, will help companies navigate the European sustainability reporting rules. The so-called ESG Reporting Guidelines, which the exchange introduced in early March, are the first comprehensive guidance on sustainability reporting under the new EU standards, which were only issued last November.

Large listed companies, banks and insurance companies will have to report under these standards from 2024, while other large companies will have to report from 2025.

In order to make the preparation of ESG reports according to the new standards easier for companies, the Prague Stock Exchange (PSE) and the European Bank for Reconstruction and Development (EBRD) approached experts from Frank Bold and Deloitte to prepare a practical guide for companies.

"Non-financial reporting is one of the fundamental tools for companies to achieve the Sustainable Development Goals, and in the absence of a single standard, we decided to work with our partners to develop guidelines to help companies navigate the issues. We will also prepare seminars for our listed companies together with our partners to help them implement the rules of non-financial reporting as simply and smoothly as possible," says Petr Koblic, CEO of the Prague Stock Exchange.

Navigating ESG is not easy and companies underestimate it

Frank Bold experts were directly involved in the development of the EU standards themselves. Filip Gregor, a senior ESG expert at Frank Bold Advisory, is a member of the Sustainability Reporting Board of EFRAG, the advisory body to the European Commission that drafted and approved the new mandatory standards.

‍"European standards for sustainability reporting are key to ensuring transparency and avoiding greenwashing. However, this is a new, complex system that can be difficult to navigate at first. The ESG Reporting Guidelines therefore provide companies with clear and practical guidance on how to proceed with reporting and what to focus on," says Filip Gregor, Senior ESG Expert at Frank Bold Advisory.

The guidelines provide a comprehensive overview of European sustainability legislation, describe the basic principles of EU standards and clearly define the information that companies will be required to disclose regardless of their business area or business model.

Representatives of Czech ministries and the Czech National Bank were consulted on the draft guidelines, and Frank Bold's analysis of the readiness of the largest Czech companies for mandatory ESG reporting was also part of the preparations. The analysis shows, among other things, that most Czech companies underestimate the onset of ESG regulations and are not sufficiently prepared for both the obligations and the opportunities opened up by, for example, so-called green financing.

Download the ESG Reporting Guidelines

Seize the opportunity to get a head start in ESG reporting

We will guide you through the entire process described in the ESG Reporting Guidelines. We help companies become ESG leaders, whether it's calculating their carbon footprint, setting up an ESG strategy and reporting, or securing favourable green financing.