On the 27th March, the British-Polish Chamber of Commerce hosted a webinar to discuss ESRS E1 – Disclosure requirements and strategies: Decarbonisation, CBAM and carbon markets.
The introduction of new ESG reporting regulations forces companies to comprehensively disclose their climate strategies. ESRS E1 Climate Change standard requires organisations to demonstrate how their activities support the EU’s 2030 and 2050 emission reduction targets. For many companies, disclosing their full climate strategies can be a challenge. During the webinar, participants learned about the key disclosure requirements related to ESRS E1 and participated in interactive presentations by experienced practitioners on selected decarbonisation mechanisms – from carbon footprinting (focussed on Scope 3 emissions), through CBAM to offsetting. All these tools play an important role in companies’ climate strategies and are elements of mandatory reporting under ESRS E1.
The event was brought together by collaboration of Crowe Poland, Redshaw Advisors and Starzyk Group with a guest participation of Santander Bank. The presentation of Kamil Radziwon who shared their experience and best practice for making a successful decarbonisation financing application was very well received and attracted most questions from the audience.
In the run up to the presentation, the attendees were greeted by the Managing Director of BPCC, Marcin Cichy who provided essential introduction to the subject matter and shared the latest updates on the British Polish Chamber of Commerce activities with regard to events focused on sustainability.
In order of appearing, Maria Kazubska from Crowe Polska outlined key disclosure requirements under ESRS E1 Key while Szymon Jan Lipiński addressed CBAM mechanism by focussing on companies exposed and consequences of failing to comply with this policy.
Jakub Hiterski from Redshaw Advisors provided a high-level overview of financial and non-financial risks associated with CO2e emissions, including areas of financial risk, the role of carbon credits in ESG strategy as well as reputational risks.
Finally, dr Starzyk shared his wealth of experience of working with industrial emitters by focussing on challenges and opportunities in calculating carbon footprint in Scope 3 emissions.
Participants were also surveyed by the presenters and interestingly, the results were rather surprising. Largest number of participants (34%) were not obligated to submit ESG reports, while smallest number of participants (6%) thought that the level of ambition was key to energy transition. Perhaps less surprisingly, most participants (45%) felt that the cost of decarbonisation was the area of greatest financial risk (followed by costs of power and fuels). Finally, when asked about a topic of the next workshop, the participants preference was clearly on carbon footrprint in regard to Scope 3 emissions (68%).
Crowe Polska, Redshaw Advisors and Starzyk Group would like to thank BPCC for their incredible effort in organizing and promoting this event, to Kamil Radziwon for expanding on the event’s core agenda and sharing invaluable, practical insights on financing energy transition and to all attendees for their participation and questions. For questions and suggestion regarding future events please write to info@bpcc.org.pl.
