Navigating Green Accounting: Insights from Directions EMEA 2023 

Directions EMEA 2023 was held in Lyon from 31^st of October to 3^rd of November. Wisefish was a proud sponsor, showcasing their all-in-one solutions for the modern seafood industry, with full traceability throughout the supply chain.

Close to 3,000 attendees from 803 organizations from and over 70 countries attended Directions. Today, with over 30.000 customers in Microsoft Dynamics 365 Business Central online, the importance of agile learning and staying on top of emerging technologies is more important than ever.

What about Green Accounting?

Surprisingly, there was a notable lack of focus on a very important topic, Green Accounting, despite its increasing importance in today's environmentally conscious business landscape.

The conference's main spotlight was on Copilot, which is an AI-powered code completion and suggestion tool that can for instance assists developers in writing and editing code by providing intelligent suggestions and automating repetitive tasks. Another thing that was highlighted was the Power Platform. Wisefish has been working in the Power Platform over the last year and we have published several Power BI reports into App Source.

As part of the European Green Deal, Europe aims to be climate-neutral by 2050. In 2024, the EU CSRD directive will require all large companies and all listed companies (except listed micro-enterprises) to disclose information on what they see as the risks and opportunities arising from social and environmental issues, and the impacts their activities have on people and the environment.

Microsoft’s advances for sustainability

Microsoft presented their solution regarding ESG reporting and what will be released in April 2024.  ESG reporting refers to the practice of disclosing a company’s environmental, social, and governance performance, providing stakeholders with information on its sustainability efforts and impact on society and the environment. When it comes to environmental impact, Microsoft will focus on enabling customer to record and report on their direct emissions, i.e., scope 1 emissions. They will present new journals and chart of accounts for Green Accounting within Business Central. It will also include a template to report directly to the European Union.

Wisefish vision for Green Accounting

In its speaker session at Directions, Wisefish presented its vision for Green Accounting in their fishing, production, trading, and logistics modules. Wisefish’s vision is to provide Green Accounting through traceability which is the core of Wisefish.  Wisefish intends to release its Green Accounting solutions before 23rd of April 2024.

Following Directions EMEA 2023, it's evident that Green Accounting was surprisingly overlooked. With Europe's goal of climate-neutrality by 2050, transparency in environmental reporting is crucial. Microsoft's ESG solution will be launching in April 2024. Wisefish's traceability-driven Green Accounting will be launched over the course of the next months and will assist our customers fulfilling their green accounting needs.

Green Accounting deserves due attention as businesses aim for a more sustainable future.

To learn more about the Wisefish vision for Green Accounting, please talk to our experts.