What is NSRS?

A standard with the small ones in mind

This project aims to develop a sustainability reporting standard with the smaller companies in mind, but comparable with established international standards. The complex transformation from a linear to a circular economy will be an important element addressed in the standard. The standard will be used by professional accountants to help their clients to measure their circularity and document this in their sustainability reports. Why is a standard crucial for the transition to a circular and green economy, you might wonder? Read more about that and other related topics in the background section.
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Europe has the highest density of SMEs with 99% of the businesses classified as a SME.


In Europe, during 2012-2017, SMEs accounted for 85% of new employment.


SMEs account for 60-70% of industrial pollution
in Europe .
Our Roadmap


The standard will be developed in a multi-stakeholder process in the period 15th of April 2020 – 28th of February 2021. The first pilot of the standard will reach the market in March 2021. Read more about the project timeline in the milestones section.
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The main goal of this project is to develop a new and simplified sustainability reporting standard for SME’s in the Nordics. This will be carried out by finding and exploring the cross-section between a synthesis of existing standards, the user needs and the reality of the greater context such as the regulative landscape and industry specific challenges. Furthermore, the aim is to develop a business case for utilising the standard – for accountants in the Nordics alongside SME’s. Moreover, we intend to invite stakeholders from public and private sector in a multistakeholder process in order to increase the possibility for successful integration of the standard when first implemented on the market.

Transparancy and accountability.

Our vision is to develop a tool that suppports SME's in a transparent and accountable sustainability reporting practice.
“We want to accelerate the transition to a circular and green economy through transparency and accountability by empowering SME’s to unlock their own impact potential.”
Kaja Koppang
Project Manager & System Designer

Three Milestones

The project is divided into three milestones, each with its respective aim.
Develop a design-manual

Through research  and system mapping we aim to find leverage points in which can serve as a solid foundation.

Designing the standard

The standard will be developed through multiple workshops in an iterative process including prototyping and testing.

Implement and follow-up

We will assess, adapt and improve the standard as we gain insights from being on the market.

We will create a standard that makes it easy for the smaller companies to deliver on sustainability. The support from Nordic Innovation enables this comprehensive process we are now diving into.

Focus Areas

The focus areas for this project can be divided in the following topics: