The Nordic Accounting Federation (NAF) are launching a joint Nordic reporting standard for sustainability. The standard, NSRS – Nordic Sustainability Reporting Standard, is the first one on the market customized for small and medium size businesses.
The Nordic Sustainability Reporting Standard is available today!
With NSRS, Nordic Sustainability Reporting Standard, it means that for the first time there will be a tool on the market that will support small and medium size businesses in the Nordics on their sustainability journey and to maintain the competitive advantage in a changing world.
Hans Christian Ellefsen, chairman of NSRS and Head of Technology and Innovation at Regnskap Norge says,- "The existing sustainability standards are complex and not tailored for SMEs at all. With that in mind, we wanted to develop a reporting standard with both SMEs and their accountants in mind."
Cost-Efficient Sustainability Reporting
EU is moving towards a sustainable economic system. The Nordic countries will be affected by EU’s progressive transition. Large companies are already obligated to report their sustainability work. This will lead to more requirements on their suppliers – the small and medium size companies. Eventually the banks expectations and legislations regarding sustainability reporting will include all businesses.
Roland Sigbladh, chair member of NSRS and CEO at Srf konsulterna says, - “With the new joint standard for sustainability reporting, NSRS, the small and medium sized businesses will have the opportunity to report their sustainability work in a cost-efficient way."
Stay Relevant – Stay in Business
It is evident that Nordic SMEs need to transition in order to maintain the competitive advantage in a changing world.
Roland Sigbladh says, - “Businesses that can clearly show their work on environmental, social and economic sustainability will have a competitive advantage to manage a sustainable and profitable organization in the long run."
NSRS helps SMEs to stay relevant in public and private tendering processes, classify for green loans, add value for their costumers and stay up to date in a fluctuation regulative landscape.
"Use the standard as a transition tool for your business. SMEs will have to adapt as consumers, customers and authorities soon will demand information regarding sustainability,” says Hans Christian Ellefsen.