Sustainability At a Glance — VSME Standard

Sustainability reporting can be challenging for non-listed SMEs with limited resources. This overview highlights the key steps to support effective compliance.

Sustainability At a Glance — Voluntary Sustainability Reporting Standard for non-listed SMEs (SAAG — VSME) has been compiled to assist in gaining a high-level overview of Voluntary Sustainability Reporting Standard for non-listed SMEs (VSME Standard). 

SAAG-VSME summarises the disclosure requirements of the VSME Standard, however, the requirements (including certain definitions) have been summarised.

To whom does VSME apply?

• The VSME standard is a voluntary standard for organisations that are not covered by the Corporate Sustainability Reporting Directive (CSRD).

1. Microenterprises are those that do not exceed two of the following thresholds:

•    Total balance:≤ EUR 450 000
•    Net turnover:≤ EUR 900 000
•    Average number of employees: ≤ 10

2.    Small enterprises are those that do not exceed two of the following thresholds:

•    Total balance:≤ EUR 5 million
•    Net turnover:≤ EUR 10 million
•    Average number of employees: ≤ 50

3.    Medium enterprises are those that do not exceed two of the following thresholds:

•    Total balance:≤ EUR 25 million
•    Net turnover:≤ EUR 50 million
•    Average number of employees: ≤ 250

4.    These enterprises are not subject to the CSRD, but are encouraged to use the VSME standard.

• Parent companies are recommended to prepare a consolidated sustainability report, including information from subsidiaries. 

This will exempt subsidiaries from reporting. 

• The sustainability report should be consistent with the financial statements prepared for the same period.

In addition, information should be presented in a way that facilitates understanding of the relationship with the financial statements, using appropriate cross-references.

Download the guide for more detailed information. 
   
At BDO in Ukraine, we understand that non-listed small and medium-sized enterprises often face unique challenges in sustainability reporting. Our team of ESG and sustainability experts is here to guide you every step of your reporting process: from reviewing your current sustainability practices to helping you prepare disclosures in line with the VSME Standard.

Contact us to learn more about the solutions we offer to help your business grow sustainably.

Source: BDO Global