VSME reporting as a messenger of sustainability efforts

Situation

ElmoNet is a Finnish group whose core businesses include fiber optic network construction, telecommunications services, and ICT solutions. The Group has a long history dating back to the late 19th century, when it enabled telephone network connections in the Northern Häme region. Today, its operations have expanded significantly, particularly in the field of fiber optic network construction. ElmoNet Group is committed to responsible business practices from a social, economic, and environmental perspective.

Challenge

ElmoNet Group’s first sustainability report was published in spring 2025. However, the Group wanted to make its sustainability reporting more structured by adopting EFRAG’s (European Financial Reporting Advisory Group) voluntary sustainability reporting standard, VSME. The need for a VSME report had also emerged in tendering processes, making its preparation a high priority within the company’s sustainability agenda.

Due to resource considerations, ElmoNet Group chose to outsource the preparation of the VSME-compliant report content to an expert partner while retaining responsibility for the report’s concept, layout, and visual design in-house. In addition to reporting capacity, ElmoNet Group was seeking a partner who could provide expert guidance on reportable topics and help validate the sustainability data available within the organization.

Solution

The VSME reporting project began with a streamlined materiality assessment conducted together with ElmoNet Group. The purpose was to identify the sustainability topics most relevant to the Group’s business and therefore most appropriate for inclusion in the VSME report. The assessment was carried out through workshop sessions, during which the themes covered by each VSME module were reviewed in relation to the Group’s business from the perspectives of profitability, business continuity and growth, as well as risks and opportunities. The interests and potential requirements of the Group’s stakeholders were also taken into account.

Based on the results of the materiality assessment, the sustainability topics to be included in the report were selected. A gap analysis was then conducted to compare the requirements of the VSME standard with the content of ElmoNet Group’s previous sustainability report. Data collection for the VSME report therefore began with the areas where the most significant gaps were identified compared to previously reported data points. This approach ensured that the potentially most demanding parts of the data collection process were addressed first.

UseLess developed a data collection template for ElmoNet Group that included all mandatory data points as well as any voluntary disclosures the Group chose to report. During the data collection process, UseLess also validated the information received, including the Group’s internally prepared carbon footprint calculation covering scope 1 and scope 2 emissions.

Once all required data had been collected, UseLess produced a sustainability reporting template for ElmoNet Group that fully aligned with the requirements of the VSME standard. With the content structure in place, the client was able to focus its internal resources on the report’s concept, design, and visual presentation, significantly reducing the internal workload. Both the data collection template and the reporting template were designed to make future updates to the report straightforward and efficient.

Next steps

Sustainability reporting has become an integral part of ElmoNet Group’s sustainability work, and reporting will continue for the 2026 reporting year. The strong foundation established through the VSME reporting project ensures that future reporting can be carried out efficiently, enabling resources to be focused on the most impactful sustainability actions. ElmoNet Group is also interested in deepening its understanding of scope 3 emissions by expanding its carbon footprint assessment.

“The project was managed professionally and in an agile but well-structured manner. We particularly appreciated that the solutions were tailored to our business needs rather than being based on an off-the-shelf model. In addition, we received valuable ideas and recommendations for further developing our reporting in the years ahead.”

Anna Savitaipale, Business Director, ElmoNet Oy