The EU accounting directive 78/660/EWG regulates the preparation and analysis of companies' most important performance indicators1. Companies' management reports explicitly include non-financial indicators, including environmental information. In addition, the new EU directive 2014/94/EU makes it mandatory for corporations to disclose non financial information (e.g. CO2 emissions). The new rules enter into force in 2017. Click here for more information in our background paper on this topic.
However, customers, investors and rating agencies are also increasingly interested in the sustainability of the companies whose products they purchase or evaluate. A 2010 study by Ernst & Young found that 84% of entrepreneurs see the heightened expectations of stakeholders as an important or very important reason to develop a comprehensive climate protection strategy.
Since business travel can quickly become the main factor contributing to climate emissions, especially for companies in the service sector, it is important to record the relevant data in an effective way. The VDR standard for CO2 reporting of corporate travel offers a strong foundation for this. Find detailed information regarding the VDR standard here.
There are three ways for your company to generate a VDR-certified CO2 report on corporate travel:
1. Do it yourself: For this, you need three components: your business travel data, the VDR standard methodology with sample calculations and a data section with detailed CO2 emissions factors. You can download the VDR components here. Large companies require a license for the data section, which is free of cost for small and medium-sized enterprises.
2. Through travel agencies, credit card companies and other service providers: If preparing your own emissions report seems too complicated, ask your travel agency, your credit card company or another service provider that is familiar with your company's travel data. Where possible, these service providers can prepare the report according to the VDR standard themselves, saving your company a lot of effort.
- 3. Through atmosfair: atmosfair can prepare your CO2 reports according to the VDR standard. The reports typically look like this. We also offer companies detailed analyses such as an overview of their most flown routes. With this information, your company can save CO2 and often reduce costs in the process, as in this example. Should your company have any further specifications, we would be happy to prepare a tailored report to meet your company's specific needs.
1 EU accounting directive 78/660/EWG within the Progress Report, Article 46 (1) (b) as far as they are necessary to understand a business' operations, key figures or financial position, the analysis includes the most important financial and, where appropriate, non-financial performance indicators that are important for the business in question, including information relating to environmental and employee matters.