Stückmann Podcast Episode 18: Sustainability Reporting – Opportunity or Risk for Companies and Consultants?
In the 18th episode of the HLB Stückmann Podcast, Alexander Kirchner and Felix Menze discuss the latest developments and challenges in sustainability reporting, with a particular focus on liability risks for consultants. From new legal requirements to practical implementation tips, this episode offers valuable insights for tax advisors, auditors, and business owners.
Important topics:
Sustainability Reporting – Current Developments
The EU Corporate Sustainability Reporting Directive (CSRD) is sparking discussions: A potential two-year deadline extension could ease the burden on companies already working to meet the new requirements. At the same time, this delay presents an opportunity to make reporting obligations more efficient and practical. However, companies that start investing resources now will gain a strategic advantage and strengthen their competitive position.
Challenges for Companies – Complexity and Preparation
Sustainability reports require a wide range of data, including emission values, energy consumption, and supply chain information. This is particularly challenging for smaller companies that often lack the necessary systems and resources. To stay on top of requirements, structured systems, suitable software solutions, and external expertise are essential. Proper preparation is key to ensuring compliance with the new regulations.
Liability Issues – New Risks for Consultants
Sustainability reporting also raises new liability concerns for tax advisors and auditors. It is often unclear whether preparing such reports falls within their typical scope of work and is covered by professional insurance. Additionally, consultants must clearly separate the preparation and auditing of reports to avoid legal conflicts and professional violations.
Market Opportunities – Sustainability as a Growth Area for Consultants
Increasing regulatory requirements are opening up new business opportunities for consultants. Support in preparing sustainability reports and conducting audits will be in high demand. Many consulting firms are already expanding their expertise to help businesses develop and implement reporting systems. Those who invest early in training and certification will benefit in the long run from this growing market.
Future Outlook – Managing Risks, Seizing Opportunities
Sustainability reporting will remain a key issue, even if implementation deadlines are postponed. Many companies are using this time to position themselves strategically and leverage voluntary reporting to their advantage. At the same time, the risks of excessive bureaucracy and liability remain. Clear, practical regulations and transparent reporting are essential to overcoming these challenges and building long-term trust with stakeholders.
