Inaugural Sustainability Report Preparation for Star Scientific
Overview
Aspect Advisory was engaged by Star Scientific, a hydrogen research and development company, to assist in preparing their inaugural Sustainability Report in line with the newly introduced European Sustainability Reporting Standards (ESRS). The main objective was to ensure that Star Scientific’s report met the highest standards of transparency, accuracy, and compliance with evolving sustainability reporting regulations.
Solution
Aspect Advisory conducted a comprehensive analysis of Star Scientific’s operations, focusing on various sustainability aspects such as environmental impact, social factors and overall corporate governance. This included evaluating their HERO® technology and its alignment with sustainability goals. Recognising the challenges associated with the limited operational data at the Research, Development, and Innovation stage, Aspect Advisory focused on maximising the use of available information. As this was their first report, the objective was to ensure that all relevant data was organised and presented in a clear and compliant manner, setting a strong foundation for future reporting.
We helped Star Scientific develop a framework to clearly articulate their progress in areas such as emissions reductions, waste management, and the implementation of their HERO® technology, ensuring all the necessary elements for ESRS alignment were in place.
Our role was not only to organise the data but also to provide guidance on how to best present this information for transparency and clarity. This helped ensure that the report was both accessible to stakeholders and aligned with global standards.
Result
The final report successfully provides a solid foundation for future sustainability reports. Star Scientific was able to clearly communicate their sustainability initiatives, supported by well-organised and accurate data, reflecting their commitment to zero-emissions energy solutions and responsible environmental management. The report set a new standard within the company for data handling and reporting, streamlining their future sustainability efforts.
Notably, this report not only aligns with the European Sustainability Reporting Standards (ESRS) but does so as one of the first of its kind globally. This pioneering achievement positions both Aspect Advisory and Star Scientific as leaders in the field, demonstrating their dedication to advancing sustainability reporting and setting a benchmark for others in the industry.
Insight
This project highlighted the importance of clear data organisation in the preparation of a first-time sustainability report. By focusing on structuring existing data, Aspect Advisory was able to help Star Scientific build a strong, transparent foundation for their ongoing sustainability reporting efforts. This approach is essential for companies taking their first steps in formal sustainability reporting.
Themes
- Sustainability Reporting
- ESRS Regulation
- Reporting Data Organisation
Business Area
- Sustainability
- Environmental Impact
- Technology Innovation
Additional Information
- Official website of Star Scientific – https://starscientific.com.au/
- Inaugural Sustainability Report – https://starscientific.com.au/sustainability/