Incap’s journey towards CSRD reporting

Incap Corporation, a globally operating electronics manufacturing service company, started determined development of sustainability reporting with Bravura's support already four years ago.

 The company’s first GRI-based report was based on a materiality assessment and surveys of key stakeholders. Based on the results, the company created a responsibility programme for itself, defined the key performance indicators to be monitored, and started reporting the progress in accordance with the GRI framework.

Incap’s President and CEO Otto Pukk: “We started with small steps developing our sustainability and have proceeded in a practical way together with our long-term partners. We take a positive view of the tightening legislation related to sustainability reporting, as we believe that uniform rules can develop our industry in an increasingly responsible direction. Sustainability is an important part of our strategy and I believe that this work will improve our ability to respond to future opportunities and challenges.”

In 2023, the company began preparing for CSRD requirements. The aim was to conduct a double materiality analysis that considers ESRS standards and extends the previous materiality analysis with an economic impact assessment. In addition, it was investigated which changes ESRS-compliant reporting will bring compared to the company’s previous reporting.

Incap’s CFO Antti Pynnönen describes the process as follows: “We conducted our first materiality analysis in 2020 with help from Bravura. Now we started a double materiality analysis so that each country company carried out their own assessment and we consolidated the results. The result confirms our previous analysis of which topics are material to us. Next, we will assess the financial impacts and analyse the impacts, risks, and opportunities related to the supply chain in more depth.”

The new sustainability reporting directive and the assessment of the financial impact of double materiality have strengthened the role of the finance team in sustainability work. CSRD and taxonomy as part of it will be a growing part of the Board of Directors’ report in the future.  “As a small team, we are happy to have Bravura to help us. The cooperation has been enhanced by Bravura’s understanding of our business and the fact that Bravura has been able to support us comprehensively in developing the sustainability programme, CSRD reporting and communications”, Antti concludes.

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