New detailed ESG rules have been published

By: Trademagazin Date: 2024. 08. 26. 09:34

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The executive decrees governing the obligations regarding the ESG Report have been published. Based on the detailed rules, the domestic enterprises obliged to ESG received precise instructions on how to prepare and publish the ESG Report. Among the announced changes are the detailed rules for due diligence obligations of businesses for sustainability purposes. Based on the above, Grant Thornton’s ESG and sustainability experts expect that the obliged companies will start preparing this year and that software-digital solutions will continue to conquer the field of ESG.

After the detailed rules for institutions training ESG consultants and ESG consultants, which are perhaps less exciting for businesses, on August 15, 2024, detailed rules regarding the preparation and publication of the ESG Report and the due diligence obligations of businesses for sustainability purposes were finally published.

Sustainability due diligence

The due diligence obligation is twofold. Businesses must create a risk management system that identifies and minimizes risks that threaten sustainability both in a) their own business activities and b) in their supply chains.

Screening the supply chain is an extremely complex task, which is why the legislator tries to provide support from two directions through the regulation. On the one hand, the executive order contains a maximum ESG due diligence questionnaire, and on the other hand, it creates the possibility of using software support by starting the registration process for ESG software.