CORPORATE SUSTAINABILITY REPORTING DIRECTIVE (CSRD)
The recently passed Corporate Sustainability Reporting Directive (CSRD) is a milestone for sustainability reporting in the EU and will put it on a par with financial reporting in the future. The CSRD will gradually oblige companies to provide comprehensive sustainability-related information and targets from 2024, thereby closing gaps in the existing rules for non-financial reporting. With the implementation of the guideline, greenwashing is to be made more difficult and the comparability of sustainability information is to be improved. For almost 50,000 companies in the EU, collecting, reporting and integrating sustainability aspects into their business processes will become the norm.
Important aspects of future CSRD reporting for affected companies and credit institutions include:
Definition of sustainability goals and development of a sustainability strategy as well as monitoring with regard to the achievement of goals
Definition of the role of the Management Board and the Supervisory Board in relation to sustainability
Description of adverse sustainability impacts of the company
The CSRD is based on the fundamental principle of double materiality. This examines both the effect of sustainability aspects on the economic situation of the company (outside-in perspective) and the impact of operations on sustainability aspects (inside-out perspective).
We help financial market participants and companies to prepare for this new regulatory challenge, to identify the resulting opportunities and to implement the necessary adjustments.
CSRD due diligence: Within the framework of 1 to 2-day workshops, we carry out an initial inventory and work with you to develop a needs assessment for the implementation of the CSRD
Analyzes (degree of sustainability of the company, gap and competitor analyses, etc.) and data collection (e.g. CO2 accounting)
Materiality analyzes involving the most important stakeholder groups to identify the sustainability topics to be prioritized
Development of holistic sustainability strategies, objectives, KPIs and monitoring instruments