During the spring of 2024, we launched a pilot project to implement a Sustainability Note Package with a customer.
The Accounting expert panel was assigned a task top develop a reporting package within sustainability during 2023, which resulted in a set of nearly 100 notes and key performance indicators split about 50% on climate, and 50% on Social (or HR related information).
The notes were presented to the customer during a workshop where the customer made a cherry-pick from the available notes and key performance indicators.
The team
Our dedicated consultants Daniel Kibunja and Cynthia Roktok, headed by project lead Karin Rosberg built all the account codes and notes carefully aligning the details to the EU standard, within a week in a TEST database. After the customer reviewed the note package, the entire package was installed in the customer production database.
A Challenging project
Every customer will have different requirements on notes, and they will be in a different place in their journey of implementing a standard on sustainability reporting.
The path to producing a sustainability package as part of the quarter or annual report is not only defining the notes but to ensure that the whole supply chain and value chain is involved and prepared to report the necessary input.
This is not a simple task and involves many stakeholders and departments in the supply chain and value chain of a company starting from external parties to internal processes.
How to best prepare
An organization needs to do some preparation to successfully implement a sustainability package:
- Define the scope of the sustainability reporting package.
- What chapters should be included and how will they be reported.
- What is possible to measure today?
- How is data collected from the supply chain and value chain.
- Which units are used for reporting.
- How is data transformed using different equivalents and factors.
- Define targets on short, medium and long term.
By Markus Hellman,
Product Management Lead, and Accounting Panel Expert, AARO
