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5 min read • Jul 08, 2024
Starting in 2024, nearly 50,000 companies, including non-EU firms with subsidiaries in the EU or listed on EU regulated markets, will be required to adhere to new, more comprehensive sustainability reporting regulations. These regulations mandate detailed reporting on environmental, social, and governance (ESG) factors. In response to these requirements, organizations must find effective ways to manage their sustainability data. Microsoft’s Dynamics 365 Business Central has introduced a new feature in its 2024 release wave 1 that addresses this need by offering tools for monitoring and managing an organization’s impact on the environment.
To understand how the Business Central Sustainability feature can assist in meeting regulations and reporting requirements, it's important to consider the relevant sustainability management legislation. Key legislation includes:
These regulations provide a comprehensive framework aimed at minimizing negative environmental impacts while ensuring companies comply with sustainability standards and maintain profitability.
As sustainability management becomes an increasingly critical aspect of modern business operations, Business Central provides a new feature that enables organizations to monitor and manage their environmental impact. This feature is designed to oversee and regulate environmental footprints by tracking various greenhouse gas (GHG) emissions and offering insights that facilitate improved environmental oversight. Key features include:
To fully leverage these features, start by defining a chart of sustainability accounts, creating structured data for all emissions. Each account has categories and subcategories defined by emission scope, gas type, and calculation formulas, ensuring accurate tracking and reporting.
Next, use sustainability journals to meticulously record emission data, either manually or by using built-in calculation methods. These entries are then posted to the sustainability ledger, where they can be analyzed in detail.
Based on these ledger entries, Business Central enables the generation of three key reports: Total Emissions, Emissions per Facility, and Emissions per Category. These reports, enhanced with pivot tables and graph charts, provide a comprehensive view of sustainability performance, facilitating informed decision-making and improved environmental oversight.
The introduction of sustainability management features in Business Central represents a significant step forward for businesses looking to manage their environmental impact. With the ability to track, manage, and report on GHG emissions, organizations are better equipped to make informed decisions that align with their sustainability goals and global environmental standards. Future releases will further expand these features, introducing new functionalities that will drive progress toward an eco-friendly future.
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