Clarity and Confidence: Guiding Vitasoy’s Finance Team Through Evolving ESG Reporting Requirements   

Challenge

Vitasoy International Holdings Limited, a Hong Kong-based producer of plant-based beverages, is recognised for its sustainability practices, having been named a Corporate Knights Top 100 Most Sustainable Corporation for five consecutive years. As a pioneer in sustainability reporting, Vitasoy understands that adapting to evolving local and global ESG frameworks requires a clear grasp of financial disclosure requirements. 

Committed to maintaining transparency, Vitasoy strives to stay ahead of the curve and reinforce its position as a leader in sustainability. The sustainability team at Vitasoy has traditionally spearheaded the ESG disclosure process, however, evolving standards have necessitated a greater engagement and upskilling of the finance team to meet the demands of enhanced financial reporting. The primary challenges include distinguishing between 'good' and 'best in class' practices, differentiating mandatory from voluntary information, and aligning emerging standards with Vitasoy’s sustainability goals. To address this, Vitasoy sought a targeted training programme for the senior members of its finance team to provide a comprehensive overview of global ESG reporting standards and trends.   

Solution

A long-standing partner of Vitasoy, The Purpose Business (TPB) crafted a training programme focused on the evolution of frameworks such as the EU’s Corporate Sustainability Reporting Directive (CSRD) and the International Sustainability Standards Board (ISSB) standards, and their impact on Vitasoy’s reporting. The session was designed to equip the finance team with the tools and knowledge needed to navigate the evolving reporting landscape and to foster greater collaboration between the sustainability and finance departments. 

Impact

The training provided Vitasoy with an understanding of the ecosystem of reporting standards, including detailed information on the key players and drivers of sustainability-related financial disclosures. It also delved into how companies are responding to emerging requirements and how Vitasoy might consider responding. After reflecting on their current reporting practices, Vitasoy’s sustainability and finance teams emerged from the training with a clear sense of their position in the reporting journey and identified opportunities for enhanced disclosures.