FS Engineering, in close collaboration with the FS Group, has conducted sustainability reporting on a continuous basis since 2009—the year the Group published its first Sustainability Report. Over nearly two decades, this has allowed us to consolidate a highly structured and transparent approach to non-financial disclosures.
From the 2024 financial year onwards, the FS Group has advanced this commitment by adopting an integrated reporting model. This framework seamlessly combines financial and sustainability data within a single, coherent matrix, strictly aligning with the European regulatory updates introduced by Directive 2022/2464/EU (Corporate Sustainability Reporting Directive – CSRD).
This progressive approach enables the precise measurement of our ESG performance while ensuring absolute transparency and comparability for all external stakeholders. Our reporting follows the European Sustainability Reporting Standards (ESRS), embedding the principle of double materiality to guarantee that all non-financial disclosures are completely clear, verifiable, and compliant with European best practice.
To streamline this workflow, our reporting process has long utilized advanced digital tools, including a Group-wide shared reporting platform (ESGeo) for the continuous real-time monitoring and aggregation of data. For FS Engineering, integrated reporting is more than a compliance mechanism; it is a strategic opportunity to embed sustainability into daily decision-making, systematically evaluate value-chain risks and opportunities, and promote an increasingly accountable model of corporate governance.
[View the FS Group’s reporting archive here.]
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THE CSRD DIRECTIVE AND THE NEW EU REPORTING STANDARDS
European Directive 2022/2464/EU (Corporate Sustainability Reporting Directive – CSRD) significantly strengthens the ESG reporting obligations of European companies. This directive introduces the cornerstone principle of double materiality, expanding the breadth and depth of non-financial information that must be compiled and published annually. To implement these rigorous statutory requirements, the European Sustainability Reporting Standards (ESRS) were developed by the European Financial Reporting Advisory Group (EFRAG). These mandatory standards provide a highly structured framework designed to ensure absolute consistency, comparability, and transparency across all corporate non-financial disclosures.
THE DOUBLE MATERIALITY PRINCIPLE
The FS Group adopts the principle of double materiality as a cornerstone of its reporting process, in strict alignment with the European Sustainability Reporting Standards (ESRS).
This approach evaluates two complementary dimensions:
- Impact materiality: Assessing the outward effects of the company’s operations on the environment and society.
- Financial materiality: Analysing how inward ESG factors may affect economic performance through operational, reputational, or regulatory risks.
Integrating these two distinct perspectives enables FS Engineering and the wider Group to provide a comprehensive, transparent overview. This data is invaluable for investors and stakeholders tracking our progress toward sustainable development. To guarantee relevance and seamless alignment with an evolving corporate landscape, our materiality analysis is updated annually, actively involving both internal and external stakeholders throughout the process.