”Short term pain, long term gain”

This is how Markus Mild, regulatory expert at Nasdaq Stockholm, summarized the panel discussion on the new financial reporting requirements that Xplir and Gullers Grupp arranged on August 30.

It was a renowned panel that discussed the future landscape of corporate reporting. It was clear that the challenges for listed companies are many and great – but also that it is an effort that improves transparency and openness in the capital market.

“You may spontaneously feel that new regulations are mostly a burden, but this is fundamentally very positive. Sustainability will be fully integrated into the governance of a company and with CSRD* in place, it will be easier for the outside world to understand the companies’ challenges but also opportunities,” said Viveca Hirdman-Ryrberg, Head of Corporate Communication & Sustainability at Investor.

Markus Mild regulatory expert at Nasdaq Stockholm agreed.

“It is difficult even for large companies to keep up to date with everything that is happening, so a lot of work is needed now. But in the long run it actually will lead to a more fair capital market.”

Malin Ljung Eiborn, Director of Sustainability at Rejlers, told us they are in the middle of their work to respond to the requirements that CSRD entails. The double materiality analysis has been completed and work on the gap analysis is currently underway:

“CSRD will really make us develop as a business, we will get better at what is essential. It is also an advantage that the management and the board really get involved in these issues,” said Malin Ljung Eiborn.

Xplir’s founder Katarina Sivander, with extensive experience from investor relations and communication for listed companies, noted that the digitalisation taking place in all parts of society and business is now also accelerating when it comes to corporate reporting.

“New regulations require new tools and it is important for companies to have work processes and systems that are adapted to the new requirements. My focus is on ensuring that the last mile of this complex chain works flawlessly.”

The fact that the challenges are great became clear during the panel discussion, which was led by Erik Bukowski, senior advisor at Gullers Grupp. The expression to “eat the elephant in small pieces” was used more than once. When asked about her best advice to other companies, Viveca Hirdman- Ryrberg’s answer was clear:

“There’s a lot to be done – get to work.”

The seminar was arranged on August 30 on Nasdaq Stockholm by Xplir and Gullers Grupp.

If you would like to know more about what was discussed, please contact Katarina Sivander.

*Corporate Sustainability Reporting Directive