What ongoing costs can be expected?

After initial implementation, mainly internal efforts and possibly software license fees are incurred; a typical annual cost framework is around €9,000 according to the case study[106].

Cluster: Effort & Budget • Updated:

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What ongoing costs can be expected?

Short answer: After initial implementation, mainly internal efforts and possibly software license fees are incurred; a typical annual cost framework is around €9,000 according to the case study[106].

The EFRAG study distinguishes between initial costs and ongoing costs. While setting up processes and creating the first report can amount to around €20,000, costs halve from the second year as data is reused[103]. Ongoing costs consist of data collection for annual updates, maintenance of governance structures and license fees for software used (if applicable). Additional costs may arise from external consulting or audits, but these are voluntary[30].

Sources: [30] VSME FAQ: Voluntary sustainability reporting for SMEs I Tanso Blog; [103], [106] Stop Drowning in ESG Requests: One VSME Report Can Do It All | Karomia Blog

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