What is a sustainability report?
A sustainability report is a part of the annual report that is attached to the financial statements.
Listed companies, other large limited liability companies and large co-operatives must file a sustainability report with the Finnish Trade Register as of the financial period starting in 2024. Read more on whether the obligation applies to your company and from which date.
Why large undertakings must draft a sustainability report
The sustainability report is based on the EU’s Corporate Sustainability Reporting Directive (CSRD). It requires, among other things, that large undertakings report on their governance and on the environmental and social impacts of their operations.
The aim of sustainability reporting is to better guide capital flows to sustainable investments and to respond to the needs of investors and other interest groups to have a wider range of information about companies.
What the sustainability report contains
The sustainability report is not a free-form document; the European Commission has approved mandatory standards for it, known as the European Sustainability Reporting Standards (ESRS).
The standards consist of two cross-cutting standards and ten topical standards. The topical standards are further divided into three subcategories: Environment, Social, and Governance.
Read more about the CSRD on the European Commission’s website.Avautuu uuteen välilehteen
How to file the sustainability report
Companies obligated to do sustainability reporting must file their financial statements and all the related documents in digital format directly with the Finnish Trade Register. Read more: How to file a sustainability report as part of digital financial statements
Where I can view sustainability reports
The first sustainability reports concern the financial period starting in 2024.
All the financial statement documents submitted to the Finnish Trade Register are public and available, for example, in the PRH’s Virre information service.Avautuu uuteen välilehteen