ESG SmartHub for Sustainability Reporting

In this context, new regulations on sustainability reporting, specifically the Corporate Sustainability Reporting Directive (CSRD), are of great importance. The new reporting requirements focus on ESG (Environment – Social – Governance). In the future, sustainability information is to be published in the management report, externally reviewed and thus placed on the same level as financial reporting. Initially, only large companies will be required to do this. Nevertheless, small and medium-sized enterprises (SMEs) will also be affected very soon, especially in their role as suppliers.

For SMEs, this means that they often have to deal with sustainability reporting for the first time. In addition, the regulatory requirements can pose a major challenge, as financial and human resources are required to set up the reporting. There is also a shortage of specialists with the relevant expertise required to develop and implement a comprehensive sustainability strategy, which must be anchored in the company and reported on. 

In order to provide Viennese companies with a scientific point of contact with experience and expertise in these areas, as well as to establish an interface between reviewing and creating companies, we are initiating the creation of a central “knowledge hub” (ESG SmartHub) in an interdisciplinary, cross-departmental project (involving three departments of FH Campus Wien).

The design of the ESG SmartHub is based on a multi-level communication concept that ensures demand-oriented, targeted communication and enables the provision of the necessary translation services (knowledge transfer between science and industry). As a holistic initiative, the ESG SmartHub is based on two central components: 

1. Creation of a teaching, learning and networking platform on ESG topics, Life Cycle Assessment (LCA) and CSRD, which provides resources, guidelines and interpretation aids and bundles information as well as further training and consulting services. The cornerstones of the platform are the offer of Massive Open Online Courses (MOOC) "Pathway to CSRD", ESG basic courses, webinars & expert interviews, case studies & best practices (incl. feedback from cooperative consulting projects). Furthermore, a networking offer for representatives from business and science will be created (community of practice, round tables), FAQs and discussion forums will be integrated and an individual consulting offer will be established.
2. Cooperative consulting projects with Viennese companies: In interdisciplinary projects, students and young academics are mentored by experienced experts (researchers/lecturers of FH Campus Wien) to develop concrete solutions for CSRD challenges and derive concrete measures to improve environmental governance and social performance. Direct feedback of "lessons learned" into the platform.

• Consolidating and strengthening expertise and know-how in the area of sustainability reporting with the aim of transferring knowledge to companies (SMEs), students and graduates, including by acting as an interface between reporting and reviewing companies. 
• Establishment of a freely accessible teaching, learning and networking platform. 
• Initiation and implementation of cooperative consulting projects at Viennese SMEs (practice-led teaching). Under the supervision of experienced mentors, students can gain their first practical experience, work on current challenges, find solutions and derive measures to achieve ESG goals.