Helping German businesses prepare for sustainability regulation
German business is the powerhouse of Europe. With various household names in automotive, healthcare and heavy engineering and the strength of the Mittelstand, German companies play a critical role in managing and solving many current environmental and social issues.
Germans have always been a strong proponent of the type of stakeholder capitalism that is now critical to compliance with many of the new directives relating to sustainability. Works councils represent the rights of staff as equals with shareholders, and there has always been a strong connection with both local and national government. However, even with stakeholder management embedded in the corporate culture, significant work remains for German companies to comply with the European Corporate Sustainability Reporting Directive.
In addition to the obligations to report on sustainability matters, German and European regulators have led the way in requiring German companies to identify and manage environmental and social issues with the groundbreaking German Supply Chain Due Diligence Act (aka Lieferkettengesetz or LkSG) and upcoming European Corporate Sustainability Due Diligence Directive (CSDDD).
Speeki can help German companies understand their obligations under these regulations (and others globally) and build practical and efficient programmes of work to manage them.
German Supply Chain Act
The LkSG requires companies to put in place an entire risk management system for their suppliers in order to prevent, minimise or end any human rights or environmental events in their supply chain. It goes far beyond just gathering information about them.
The law also requires regular documented policies, risk assessments, and a governance structure, along with engagement with suppliers around specific environmental and human rights-related contractual terms and training. There is also an obligation to provide a complaints procedure (for both direct and indirect suppliers).
Speeki's technology platform provides the infrastructure to manage those obligations and Speeki's Engage® framework is the roadmap you need to plan, design, measure and report on their diligence programme and comply with the German Supply Chain Act. As is often the case, the German Supply Chain Act tells you what you need to do, but it doesn’t explain how to do it. Speeki provides its clients with guidance on how to build and effectively implement programmes using our own methodology combined with the well-known ISO management system standards.
Managing your supply chain – supporting both the LkSG and CSDDD
With these two new major pieces of legislation come significant obligations to conduct due diligence on your supply chains and to end modern-day slavery and human rights abuses. Speeki helps German companies with building their human rights and modern-day slavery programmes (amongst others) and the related sustainability due diligence required for supplier qualification.
Sustainability reporting
ESG and Sustainability cover over 20 different topics. While not all of these may be 'material' and require some form of disclosure, they may still be important to you or your stakeholders.
Whether you're grappling with carbon footprints, emissions calculations, ethical supply chains, whistleblowing, corporate governance, human rights or being selected by your customers as a 'safe and sustainable' option, Speeki is your solution. Our approach to ESG and sustainability can help you meet any regulatory requirements and build a better and more sustainable company for the next generation.
How Speeki can help your business in Germany
Depending on what type of company you have, you may have to comply with mandatory or customer-driven sustainability reporting requirements in Germany in the near future. You most certainly will have reporting to do under the Corporate Sustainability Reporting Directive. Unlike reporting requirements in other countries, the obligations in Europe are stricter and go far beyond just a statement of intent on your website.
Get ready for the Corporate Sustainability Reporting Directive
Speeki has a software platform already configured to help you build ESG and Sustainability across 20+ different topics, many of which will be material to your business when reporting under the ESRS.
Speeki is not just an ESG and Sustainability reporting platform; it is a comprehensive suite of non-financial programme management and reporting. The platform has embedded guidance, advice, and instructions throughout to increase your knowledge and reduce the need for consulting expertise.
Sustainability due diligence and supplier qualification
To meet the new legislation in Germany and the European Union, as well as best practices on supplier qualification, you will need a comprehensive due diligence system for identifying risks in your supply chain.
This is not just for human rights issues but also for environmental, information security, corruption, sanctions, and reputational risks. More than just a questionnaire to collect information, Speeki helps develop a qualification system involving risk identification, assessments, contracting, due diligence, and audit.
Are you ready to report against other global standards?
Just like with accounting standards, global businesses will need to report against local reporting requirements in each jurisdiction in which they operate.
Standards like the International Sustainability Standards Board's IFRS S1 and S2 are being rolled out to countries worldwide with minor variations in each.
Helpfully, Speeki's platform embeds those standards and allows you to write once and report as many times as needed, with inbuilt guidance to highlight and explain the differences between the standards.
Developing a sustainability programme with Speeki allows you to cover all topics consistently
By choosing Speeki, you're not just adopting a platform; you're partnering with a leader in ESG and Sustainability solutions. From building and maintaining ESG and Sustainability programmes to driving accountability and generating reports, Speeki supports your journey in ESG and Sustainability and other non-financial reporting aspects.
Managing the performance of your non-financial programmes will be your advantage.
ESG insights
Explore our expert articles on implementing ESG and Sustainability programmes
Germany is making a strong push forward in ESG and Sustainability. This is not going away anytime soon, and those companies that lean in will be able to take advantage of new business opportunities.
Reporting in Germany and beyond
Speeki continuously incorporates new global or local reporting standards as they are published. We ensure that your business can produce the necessary disclosures, not just in Germany but in any country in which you operate.
Manage your non-financial performance
More than just climate change, Speeki helps you build programmes across 20+ areas. Businesses can align their sustainability efforts with Speeki and other software products, such as climate accounting or energy management systems.
Embedded tools and guidance
Many companies don't necessarily have their own ESG experts and might struggle to find capacity at a reasonable price elsewhere. Speeki is packed with guidance and AI to help you build ESG and Sustainability with our software.
Andrew Henderson
Andrew is our go-to solution-finder, assisting our teams in selling and creating new products and guiding clients with advice and certifications. Andrew brings a strong blend of tech know-how and legal training to the company and has collaborated closely with our CEO for over 15 years.
How Speeki can help you with ESG and Sustainability in Germany
You will need a clear strategy led by the board and executed through management. With oversight and assurance, your board can feel comfortable that ESG and Sustainability are a competitive advantage, not simply a cost. Working with the board and management, we help you understand risks and opportunities and define a strategy to execute.
The challenges raised by the new legislation in Germany also apply in many other countries. Having a global approach to supplier qualification and due diligence is essential. Managing your supply chain risks and understanding how your customers will view you in return will be a competitive advantage.
Through our subsidiary Speeki Europe, Speeki is a globally accredited certification body for ISO management system standards. Subject to our independence rules, we can certify you in Germany (and your global operations) against standards such as anti-bribery, compliance, governance, social responsibility, whistleblowing, and more.
Speeki can be used by a wide range of entities, including businesses of all sizes across various industries. Whether a small enterprise starting its sustainability journey or a large corporation enhancing its ESG practices, Speeki offers software and solutions that can cater to your company’s needs.
Speeki can help you build a whistleblower solution, an anti-bribery compliance or management system, or a global human rights and modern-day slavery system. With consulting, technology, and assurance solutions, we are ready to step in and add value to your business.
Speeki provides assurance solutions across ESG and Sustainability against standards such as the ESRS. Subject to our independence rules, we can build a plan for an audit and assurance of your ESG reporting. Validate your reporting with the confidence of independent assurance.
Your ESG and Sustainability journey begins here
