ESG in practice at Newtone, HLB Netherlands: the value accountants bring to sustainable business

As businesses operate in an increasingly interconnected and transparent world, their impact on the environment and society is under closer scrutiny than ever before. Stakeholders – like investors and business customers – expect organisations not only to minimise harm, but to actively contribute to sustainable development.  

While navigating ESG can be complex, it also presents a powerful opportunity: companies that integrate ESG into their strategy can enhance resilience by understanding risks and opportunities, foster innovation, attract capital, and strengthen stakeholder trust. 

Accountancy firms have always played a vital role in contemporary society. By providing assurance and business advisory services, we facilitate investments, entrepreneurship and growth, thereby strengthening the local economy. Just like our clients, however, accountancy firms are also facing increasing expectations to invest in ESG and contribute to a sustainable and resilient society.

At Newtone, HLB Netherlands, we take the responsibility to meet these expectations, but we realise that our biggest impact doesn’t lie in the offices or automobiles we use; instead, it lies in what we do best: supporting our clients. By working with clients on ESG, we not only expand our role in society by facilitating sustainable growth, but we are also able to capitalise on valuable business opportunities.

As an example, Newtone, HLB Netherlands was invited to support an international client with their sustainability reporting. The client was preparing to refinance a major loan and understood that their business was exposed to ESG-related risks and opportunities, which their creditors would want to be informed about. They chose to report under the IFRS Sustainability Disclosure Standards, due to the focus these standards place on delivering relevant ESG-information to primary users of financial reports, such as creditors.

Newtone, HLB Netherlands facilitated workshops and interviews with key figures in the organisation to train them in ESG strategy and reporting. Additionally, we made all the preparations so that the client could gather the necessary data themselves with digital support. The client greatly appreciated the insights we gave them and the fresh perspective we offered. We equipped them with the insight and tools to increase their confidence in navigating the complex ESG-landscape and we set everything up to streamline the reporting process and maximise value.

Newtone, HLB Netherlands and German DDP Gruppe, both HLB members, will be collaborating on a new assignment for an international retail client. The client was supported by a Big Four accountant in their CSRD preparations and was looking for international expertise for assurance on two of their ESG KPI’s: DE&I and their carbon footprint. In addition, they require a DMA review. With our international network, CSRD experience and expertise, we can assist companies in providing the required assurance on ESG topics in a pragmatic and efficient manner, meaning we are well positioned to provide valuable insights and help this client to meet compliance requirements.

As another example, we supported a client in the healthcare sector in the Netherlands. They had been working on ESG for a while already, as they are always looking to stay ahead of the curve. However, they wanted to take the next step and make ESG an integral part of their strategy in a structured way. Since we already had a warm relationship with the client, collaborating with Newtone, HLB Netherlands on this journey was a natural choice. We first worked on their ESG-reporting, gathering input from their stakeholders, determining material ESG-themes and setting up the necessary processes for data collection. The client was highly enthusiastic and appreciative about the comprehensive insights we delivered.

The main focus when setting up a sustainability statement is to provide transparency, but our client wanted to improve their impact and so we used the reporting as a launchpad to upgrade their strategy. We brought together the various actions they had already been taking and aligned them with a well-thought-out vision, underpinned with policies, metrics and targets; in this way Newtone, HLB Netherlands helped to improve the effectiveness of their actions and tackle areas of importance. This resulted in increased business performance for our client, a rewarding confirmation that ESG is vital to both us and our clients.

These examples illustrate how ESG is not just a compliance exercise – it’s a catalyst for innovative and future-proof entrepreneurship. As accountants, we are uniquely positioned to guide businesses through this transition with the rigour and insight they require. By embracing ESG, Newtone, HLB Netherlands doesn’t just respond to expectations; our responsibility goes further. We help shape a more sustainable and resilient future for our clients and the communities they serve as we believe this is our role and responsibility in contributing to a sustainable world.