Consolidated ESRS report for a listed group
Four companies with different profiles, one CSRD-compliant report, delivered to a fixed deadline.
The project at a glance
- Client
- Group listed on the Bucharest Stock Exchange, healthcare sector
- Boundary
- 4 companies: distribution and retail, manufacturing, medical services
- Size
- more than 1,500 employees, consolidated revenue of more than RON 1 billion (about €200 million)
- Service
- Sustainability report + carbon footprint (Scope 1, 2, 3)
- Standards
- ESRS / CSRD, GHG Protocol, EU Taxonomy
- Assurance
- Limited external assurance, ISAE 3000 (Revised), unmodified conclusion
- Reporting year
- 2025, the first consolidated group report
- Duration
- December 2025 – April 2026
impacts, risks and opportunities (IROs) analysed in the double materiality assessment
tCO₂e — consolidated carbon footprint, Scope 1, 2 and 3
fugitive emission sources tracked individually (vehicles and HVAC units)
tCO₂e of double counting avoided by eliminating intercompany flows
The context
For listed issuers, sustainability reporting under ESRS is no longer optional: the report has to be published, cover the whole group and go through external assurance.
Until then, the group had reported only at parent-company level. For 2025 it needed a consolidated report for all four companies, to a fixed deadline and with no room for improvisation.
The challenge
- Four companies, four different realitiesDistribution with a cold chain and its own fleet, two manufacturing units, a medical services unit. Each with different emission sources, risks and data.
- The first year of consolidated dataFor many indicators there was no history and no collection system in place.
- The value chain dominates the footprintAbout 94% of emissions are Scope 3, from purchased goods. A methodological error here changes the whole result.
- An external auditorWho checks every figure and every statement.
Where the emissions really are
A consolidated GHG inventory to the GHG Protocol across all four companies. Flows between group companies were eliminated so the same emissions were not counted twice: more than 4,500 tCO₂e that would otherwise have inflated the footprint.
Consolidated footprint: about 65,000 tCO₂e (2025 base year). Target set: a 30% reduction in Scope 1 + 2 emissions by 2030.
Five stages, from reporting boundary to external assurance
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Step 1
Boundary and stakeholders
December 2025
We set the consolidation boundary, identical to the financial statements, and identified stakeholders at group and company level.
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Step 2
Interviews, workshops, questionnaires
January – February 2026
Interviews with the management of each company, guided workshops for each entity, questionnaires for key suppliers and a dedicated consultation with investors and creditors.
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Step 3
Double materiality and GHG inventory
February – March 2026
All 10 ESRS topics assessed across the four companies, more than 200 IROs analysed. GHG inventory to the GHG Protocol, with intercompany flows eliminated.
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Step 4
Transition plan and targets
March 2026
The group’s first climate transition plan and its 2025–2030 ESG targets, including a 30% reduction in Scope 1 + 2 emissions by 2030.
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Step 5
Drafting, reviews, assurance
March – April 2026
Three review rounds with the client, then the external auditor’s comments built into the final version.
10 ESRS topics assessed, 7 reported in detail
Each topic was assessed on two axes — the group’s impact on the environment and society, and the financial impact on the group — for each of the four companies. Non-material topics received a documented justification.
Material 7
- E1Climate change
- E2Pollution
- E5Circular economy
- S1Own workforce
- S3Affected communities
- S4Consumers and end-users
- G1Business conduct
Monitored 1
- S2Workers in the value chain
Not material 2
- E3Water and marine resources
- E4Biodiversity and ecosystems
Deliverables
- Consolidated sustainability report under ESRSfor all four companies
- Double materiality matrixwith a documented justification for each topic
- GHG inventory, Scope 1, 2 and 3with methodological annexes
- Climate transition planand 2025–2030 ESG targets
- EU Taxonomy alignment analysis
- A data collection systemthat the client’s team can reuse in future years
Limited external assurance under ISAE 3000, with an unmodified conclusion.
The report was completed on time. The data and the transition plan became the basis for the group’s next decisions: fleet electrification, renewable energy, an energy audit and an ESG questionnaire for strategic suppliers.
The report provides exactly the verified data lenders ask for: in the same year, the group signed a green credit line to move its fleet to hybrid and electric vehicles.
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