When adopting a supplier management model, companies look for the most efficient ways to optimise relationships with their suppliers, make their supply chains more efficient and cut their costs to continue receiving the best goods and services within the most appropriate time frames.

In a previous article, we used a tax gap example to explain why taxation is a key pillar of ESG. Tax transparency and tax governance in the context of ESG are relevant topics in the PwC network – last year PwC published a study ‘Tax transparency and sustainability reporting in 2023’. The study looks at the sustainability reports of 269 listed companies (Australia, Brazil, Germany, Ireland, South Africa, Spain, Switzerland and the UK), i.e. whether their reports address tax aspects and how. The study examined what sustainability frameworks (i.e. documents and guidelines) companies use the most often to disclose tax aspects in their sustainability reports. In this article we have summarised information from the study to explain what tax details should be included in a sustainability report.

Sustainability has become a salient feature in today’s business landscape, with companies having to adapt to the growing pressure for operating responsibly and transparently. The European Union (EU) has taken significant steps to improve corporate sustainability reporting standards by implementing the Corporate Sustainability Reporting Directive (CSRD). It lays down a wider range of reporting requirements and offers more detailed guidelines helping companies make accurate and complete disclosures on their ESG impacts, as well as outlining criteria for companies liable to report on their sustainability practices.

ESG or sustainability is a hot topic that people initially associated with the environment and climate change. The social and governance components of ESG have recently become even more relevant when it comes to workers, supply chains or tax management. This article briefly looks at why we should be treating taxes as a key component of sustainability.

In today’s rapidly changing world, organisations need to be proactive to stay competitive and they also need to regularly assess potential business risks and opportunities. When it comes to assessing risks and opportunities, businesses often opt for enterprise risk management – the culture, capabilities and practices an organisation integrates with setting a strategy and applies when it carries out that strategy, with the purpose of managing risk in creating, preserving and realising value.

Whistleblowing is not a novel concept in the European Union (EU) so it’s not related to sustainability alone. However, the latest sustainability legislation enhances the significance of whistleblowing and the need to protect whistleblowers. This article explores how a whistleblowing system can drive sustainable growth in organisations.

The Green Deal aims to make Europe the first climate-neutral continent. We have undertaken to reduce our greenhouse gas (GHG) emissions by at least 55% (compared to the 1990 levels) by 2030 and achieve climate neutrality by 2050. To meet these targets and mitigate the impact on climate change, countries and businesses need to cut down their GHG emissions significantly.

European Sustainability Reporting Standards (EU) 2023/2772 (‘ESRS’) require companies to disclose information on their energy consumption and structure. This article explores the disclosure requirement and why you should view it through the prism of opportunities.

Regulation (EU) 2023/1115 of the European Parliament and of the Council on the making available on the Union market and the export from the Union of certain commodities and products associated with deforestation and forest degradation and repealing Regulation (EU) No 995/2010 came into force on 29 June 2023.

In late 2023 PwC conducted its 27th global CEO survey with 4,702 respondents from 105 countries. The survey suggests that CEOs feel increasingly under pressure to adapt and change their current economic activity so that their company remains viable in the long term. They mention technological advances, consumer behaviours, regulatory dynamics and climate change as key factors. From a sustainability perspective, most CEOs view decarbonising their companies or reducing greenhouse gases (GHG) as a priority, which can be achieved mainly by taking steps to improve energy efficiency and developing eco-friendly goods and services.

In January 2024 the European Financial Reporting Advisory Group (EFRAG) launched its public consultation on two exposure drafts for sustainability reporting standards for small and medium enterprises (SMEs). One standard is for listed SMEs and the other, a voluntary reporting standard, is for other unlisted SMEs.

Terms such as sustainability, the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) are increasingly mentioned in public debates and corporate meetings. The more conscientious companies are not only well-versed in sustainability matters but they have set up a corporate structure that will help them report more efficiently on their sustainability performance. Other companies are still looking for a sustainability expert to help them deal with their sustainability obligations. But can hiring a sustainability expert solve all the problems? And what is the board’s role and responsibility for sustainability performance? Read on to find out.

To get ready for implementation of the Corporate Sustainability Reporting Directive (CSRD), in this article we are looking for the answers to why an external review of sustainability reports is necessary, what review procedures are expected, and how we can prepare ourselves for this change.

Many people see the high cost of living as a challenge that forces the public and the government to take steps in order to obtain protection from today’s unpredictable economic conditions. While every worker deserves to receive a wage that allows them to satisfy their needs and live a decent life, the UN recognises that more than a third of workers globally earn less than they need to secure such a standard of living. The problem remains unsolved in 2023, so this article summarises the various challenges that companies need to overcome if they are to implement what is known as a living wage.

The European Sustainability Reporting Standards (ESRS) require organisations governed by the Corporate Sustainability Reporting Directive to carry out a dual materiality assessment aimed at identifying environmental, social and governance (ESG) areas that are material to them. Unlike the previous practice, which had these areas identified according to the impact made by an organisation, the new methodology adds a further level of analysis assessing the financial impact ESG areas have on the organisation in terms of risks and opportunities.