Even though the EU is set to make sustainability reporting requirements less comprehensive and reduce the number of companies required to report on ESG, it is still a good idea for many businesses to work strategically with ESG data and initiatives.

This is the message from Christina Krath, Danske Bank's Head of Sustainability, Business Customers. She welcomes simpler reporting rules from the EU’s Omnibus package but at the same time stresses the importance of companies working proactively and strategic with ESG.

“It remains important to work proactively and strategically with ESG to map and manage a company's ESG risks and opportunities. This can help strengthen the company's competitiveness both in the short and long term and assist in meeting ESG requirements, for example, if they are a subcontractor to larger companies,” explains Christina Krath.

All-in-one ESG Platform To strengthen its ESG offering for business customers, Danske Bank has entered into a partnership with Position Green. Position Green provides companies with a tailored solution to help them simplify their ESG data management and transform it into insights that can be used strategically when making business decisions.

“As the sustainability landscape evolves, more companies will increasingly need to link their ESG data to their strategy, and clearly explain their view on long-term impacts, risks, and opportunities. Our software makes managing this easier, but most importantly, it provides companies with the insights they need to take action where it matters most. That’s how ESG becomes a driver of both resilience and competitive advantage,” says Julia Staunig, Chief Growth Officer at Position Green.

Discount and financial sparring
Through the partnership, Danske Bank's business customers will receive a discount on Position Green's ESG software solutions and get access to an ESG e-learning course. Furthermore, the bank's advisers are ready to be a financial sparring partner and assist with financing when the bank’s business customers wish to advance their ESG initiatives.

"When analysing a company's ESG matters, insights can be used to improve sustainability efforts. It might be that environmental or social risks are identified, requiring a new strategy for the supply chain. It could also be that areas for energy efficiency are discovered, thereby reducing operational costs and environmental impact. And here, we as a bank are ready to provide strategic financial sparring and financing." says Christina Krath.