ESG stands for Environmental, Social and Governance and is in general referred to as the key factors used to evaluate companies’ performance and impact on ESG-related activities. How companies perform in this regard can affect their competitiveness, not only because of increasing regulatory pressure, but also due to the expectations of stakeholders. Companies need to navigate through various reporting standards, frameworks and voluntary initiatives and determine which one to apply and what is relevant for them to report on.

The legislative initiatives of the EU in relation to the European Green Deal, including the EU taxonomy and the sustainable finance disclosure regimes, will find their way into the legislation in Iceland through the EEA Agreement. Investors and banks are increasingly expecting companies to provide long-term ESG targets for material issues. There is a growing need to focus efforts on meaningful actions and disclosing progress every year. Our experts in the field are experienced and knowledgeable in providing sustainability advice and can assist clients prepare for new requirements and seek new opportunities.