One in three medium-sized companies do not report their emissions

A third of medium-sized companies in Spain admit that they still do not report on any aspects related to their greenhouse gas emissions, while 12% say that they do not have a reporting plan in place at the moment. This puts Spain six points above the European average (28%) and 11 points above the global average of 22.9%.

On the other hand, 65% of entrepreneurs in Spain (3 points lower than the European average) say that they report some parameter related to greenhouse gas emissions, although only 24% of them are obliged to do so for their business.

These are some of the main findings of Grant Thornton’s international survey of more than 5,000 mid-market companies in 28 countries in relation to sustainability reporting. This study provides details on the situation of Spanish companies in view of the entry into force of the new sustainability reporting standards to be published by the International Sustainability Standards Board (ISSB) at the end of 2022, which will require companies to provide information on their greenhouse gas emissions of scope 1, 2 and 3.

For Ramón Galcerán, chairman of Grant Thornton, “We need to take reporting on emissions as seriously as the damage they cause, otherwise we will not make significant progress in the fight against climate change. In this regard, the data from the Grant Thornton study shows that a significant percentage of medium-sized companies in Spain still have work to do in terms of reporting their emissions”.

Unequal preparation of Spanish companies for the entry of ISSB standards

Despite the imminent entry into force of the ISSB standards, a high percentage of Spanish companies are still in the initial stages of complying with the new code. Thus, 38% of companies say that they are currently identifying what will be new and planning their approach.

On the contrary, 36% of Spanish executives say that their companies are already reviewing their structures and adapting internal reporting processes in view of the approval of the new standard. Likewise, almost 26% say they are proactively testing new reporting approaches to cope with the new regulation before it comes into force.

At the European level, companies are also in a delicate position, although somewhat better than their Spanish counterparts with 32% (six points less than in the Spanish case) in an early phase of pre-planning for the new standard’s novelties.

Jaime Romano, Partner in charge of Sustainability Strategy at Grant Thornton, highlights that “The positive evolution of this data in recent years, which implies a greater commitment of mid-market companies to incorporate ESG actions in their strategies, reflects the progressive business awareness and the need to prioritise these actions in their different business models”.

One in three medium-sized companies do not report their emissions

Ilaria

iberianlawyer.com

Iberian Lawyer, is a monthly digital magazine, published by LC Publishing, available in Spanish and English. It represents the main source of information in the legal business sector in Spain and Portugal. The digital magazine – and its portal – address to the protagonists of law firms and in-house lawyers. The magazine is available for free on the website and on Google Play and App Store.

In every issue of the magazine, you will find rankings of lawyers, special report on trends, interviews, information about deals and their advisors.

For further information, please visit the Group’s website www.lcpublishinggroup.com

Iberian Legal Group, S.L.
Registered office: C/ Ríos Rosas 44A - 2 G,H 28003 Madrid España

Copyright 2023 © All rights Reserved. Design by Origami Creative Studio

SHARE

Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram