Proton prepares for new legislation
The EU’s new sustainability laws will soon come into force. This will place tough demands on companies’ sustainability reporting. ‘We at Proton have come a long way in this work and are excited to start working towards our new goals,’ says the group’s sustainability manager Maria Thom.
The Corporate Sustainability Reporting Directive, or CSRD for short, is the EU’s new sustainability legislation. The directive will come into force for Proton on 1 January 2025, which means that the first report for the 2025 financial year must be submitted in early 2026.
In just a few weeks, it will be crunch time.
‘We will report our sustainability strategies, goals and action plans in a transparent and very comprehensive manner. Of course, we are also expected to report on how we are succeeding in meeting our goals,’ says Maria Thom.
“The legislation is aligned with a standard called the European Sustainability Reporting Standards (ESRS), which provides detailed guidance on what companies should report.
Compared with others
Complicated? Absolutely. But also fun and constructive. The purpose of the new legislation is to accelerate the green transition, halt global warming and create a society that is better for everyone. But we at Proton Group will also reap the rewards, as it will strengthen the group’s brand both internally and externally.
‘The idea is that reporting should be transparent so that different companies can be compared with each other. For us at Proton, this could mean that we gain increased momentum in transition issues, that we find new circular solutions and that we become even better at taking care of our employees. It could also help us win business,’ says Maria Thom.
Good foundation
The fact is that Proton Group is well prepared for CSRD.
“We are humbled by the task, because it really is a huge undertaking. But the fact that we have a very forward-thinking management team that announced early on that Proton would make a strategic commitment to sustainability means that we are well ahead of the game.
The fact that the Group has been producing a comprehensive sustainability report for several years means that the foundations are already in place. The new reporting requirements involve a double materiality analysis, which means examining the company’s impact on its surroundings, and vice versa, from various sustainability perspectives. Based on the materiality analysis, the business must then set targets and report on its progress.
“With our previous reporting, we had already done parts of this and thus had a basic structure in place. Now we have also completed the double materiality analysis and are in the process of developing an action plan and targets based on the material sustainability issues we have identified.
Next year, we will produce a pilot report so that we have learned our systems when the time comes.
For us at Proton, this could mean increased momentum in transition issues, finding new circular solutions and becoming even better at taking care of our employees. It could also help us win business.
Proton joins the SBT Initiative
Proton Group has applied to join the climate organisation SBT Initiative. The aim is to obtain an independent review of our climate work.
The Science Based Targets initiative (SBTi) is a collaboration between the UN Global Compact, the Carbon Disclosure Project, the World Resources Institute and the World Wildlife Fund. SBTi offers companies and organisations an independent third-party review of their climate work. Based on the climate targets of the Paris Agreement, members’ set targets and action plans are reviewed. Proton Group’s application is currently under review.
There are several reasons for the decision, says Proton’s Sustainability Manager Maria Thom:
“Our reporting under CSRD requires us to have scientifically based climate reduction targets. SBTi is an accepted and very common way of working with climate targets and action plans. In addition, several of our customers require us to join in order for us to be an attractive business partner. We simply see that SBTi will be one of the most common ways to validate climate work in the future.
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