Sustainability reporting in the ICT industry

Abstract

With the introduction of the Corporate Sustainability Reporting Directive (CSRD) and its consequent European Sustainability Reporting Standards (ESRS) the European Union aims to foster the awareness of sustainability even in corporate contexts. Potential and existing stakeholders and investors, civil society organizations or the public shall be informed about which impacts and opportunities associated with sustainability a company deals with. Adding to the companies ́ reporting requirements, the CSRD aims to consider additional aspects, such as double materiality and a broader scope of enterprises. Moreover, by requiring a third party to audit and control the reports, the compliance of the firms is evaluated. Since the first reports of the CSRD will be submitted in 2025, affected firms are in the midst of preparations and reporting activities. Due to the novelty of the directive and the standards, open questions, assumptions, and speculations have come up. Hence, this research paper aims to identify such concerns and to evaluate them. In addition, the impacts and opportunities faced by ICT enterprises in Austria will be assessed.