Cross-industry member leaders gathered at Azets’ Skøyen office for a Financial Forum focusing on ESG reporting requirements in Norway and leveraging new AI technologies.

ESG reporting compliance: how best to find and use relevant data required in Norway

With Europe at the forefront of implementing legislation on sustainability, companies operating in Norway need to stay up to date on reporting requirements. In combination with increased expectations from customers, investors, banks and other stakeholders, this accelerates the need for companies to document their environmental impact.

Azets provides holistic sustainability services for companies including ESG due diligence, strategy and sustainable business development and sustainability reporting. Mats Lorentsen, Head of ESG Services at Azets Advisory, gave participants an overview of the European Green Deal action plan, in particular the European Sustainability Reporting Standards (ESRS) framework’s data requirements and where to find data to increase ESG insight.

Lorentsen joined participants in examining the major opportunities and challenges facing financial roles. The demand for sustainability data is increasing quickly, as 75,000 companies in the EU are now facing this mandatory requirement. Companies with data that complies will have a competitive advantage as even stricter regulations are expected.

“Expectations are that the sustainability gap is increasing, but the capability is not growing as fast. We need to keep up!”