New ESG standard for SMEs is expected in 2025
Before Christmas, it was announced that the EU’s new voluntary ESG-standard for small and medium-sized enterprises (VSME) had been submitted to the European Commission for approval. It is expected to be adopted in 2025. This is good news for SMEs, which can now look forward to a common reporting standard. This will save them from having to deal with different data requests from partners, banks and other stakeholders.
ESG365 has been closely following the development of the new EU standards. In collaboration with the Herning-based advertising agency Advicer, they are in the process of updating their reporting software. This means that customers will be able to prepare sustainability reports in accordance with VSME as early as February. This ensures that they comply with the EU standards. Founder and CEO Per Ørum says:
”I am delighted that we can present the updated version of ESG365, so everyone can become compliant with EU standards. Most companies can work with the new module without major issues — and we are happy to provide advice and assistance”.
Keep It Simple with VSM
The current ESG365 software is based on 21 standards recommended by the Danish Business Authority. For Per Ørum, it has been important that companies can prepare their ESG reports in a clear and transparent manner. This principle remains central with the implementation of the new standards: ”Even though there are new points in the VSME, it is still our goal to “Keep it simple”. The most important thing is to create a clear and intuitive system that everyone can use.”
For Per Ørum, it has always been important that companies can prepare their ESG reports clearly and transparently. This principle remains central with the implementation of the new standards.
2025 looks set to be a year dominated by ESG reporting, especially for SMEs. This is also evident at ESG365, which is starting to receive enquiries from abroad. ”We have now set up our first international customers on the platform, which is why we are launching an English-language version of ESG365. I wouldn’t rule out the possibility of our software being available in even more languages in the future.”
If you would like to learn more about the VSME standard, we have prepared an introduction here. On 31 January, we will also be hosting a webinar where we will talk about the new standard.
If you need help getting started with your ESG report, ESG365 has the expertise to assist you.
Article by Victoria Ørum, Communications Assistant, ESG365.