New ESG template for SMEs

Published 25 October 2024

PrintCategory: Impact and ESG

In September 2024, the Danish Business Authority published a new ESG template targeted at SMEs (in Danish). The template is based upon the draft voluntary sustainability reporting standard for non-listed SMEs (“VSME”) prepared by the EU with the purpose of helping SMEs to collect ESG data.

The purpose of the ESG template is to support the collection of ESG data and the data needs across companies and industries. SMEs are not directly subject to the CSRD if they are not publicly listed. They are therefore, as a rule, not required to prepare an ESG report. However, the ESG template can be used by SMEs wishing to voluntarily prepare an ESG report but also by larger companies collecting ESG data from their value chain.

The ESG template includes a catalog of the main ESG data a company may be asked about. Further, it includes guidance on the ESG data a company can prepare and report on as well as how it can be prepared.  The Danish Business Authority has updated the template to ensure that the basic module in the exposure draft (VSME) has been reflected in it.

The VSME, on which the ESG template is based, is not yet available in a final version. When a final version of the VSME has been published, the Danish Business Authority will update the ESG template. Currently, consultations and field tests on the exposure draft VSME are being assessed and a final version is expected to be published in 2025. We refer to our previous Pulse update describing the exposure drafts on sustainability reporting standards for SMEs for further information on the specific drafts.

The ESG template is available on the Danish platform: Virksomhedsguiden.

Tags:  CSRDSustainability


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