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The EU Omnibus may have drastically reduced the regulatory ESG reporting requirements for most Norwegian companies, but customer and investory interest remains strong. We recommend that Norwegian companies use the new ESG reporting framework, Voluntary Standards for non-listed SMEs (VSME), in order to meet customer and market expectations. VSME is recommended by both the EU and the Norwegian Department of Finance and has become the new preferred framework for EGS reporting in the wake of the recent EU changes. By following VSME, companies can ensure they are prepared to respond to client requests for ESG information.
VSME was developed by EFRAG and is based on the same philosophy as the ESRS standards. VSME is made up of two modules, and companies reporting in accordance with VSME have two options to chose from:
- Basic Module
- Basic Module + Comprehensive Module
For most companies we recommend using both the basic module and the comprehensive module, to ensure they are prepared to respond to information requests from investorys, banks, and business partners.
We can support you no matter which reporting strategy your company chooses to follow, and no matter what experience your company has from previous years reporting.
