CSRD: the Corporate Sustainability Reporting Directive, in a nutshell.
The EU’s announcement of the new Corporate Sustainability Reporting Directive (CSRD) mandate - set to impact over 50,000 companies (both EU and non-EU) over the next few years, has left company board members and executives concerned about the implications, and wondering what's in it for them.
While the EU’s focus on corporate sustainability efforts isn't a new thing, this initiative is certainly more far- reaching and intensive than ever seen before. And if affected companies don’t get a choice in whether or not to comply, they do get to choose whether or not they use the reporting process and gathered information to their greater advantage.
The CSRD will provide enlightened companies the incredible potential for growth, increased value and positive environmental impact, and overall viability.
Find out here if your company is eligible for it and when, and see how to make the most of this new regulation, beyond compliance:
- Does your company meet at least two of these three requirements?
> 250 employees and/or
> €50M Annual Turnover and/or
> €25M Annual Total Assets
- Is your company listed in one of the EU exchanges?
- Is your company a Bank, or an Insurance company?
If your answer was YES to any of these questions, it is almost certain that your company is one of the 50,000+ companies that will have to plan, prepare, and deliver on a new set of non-financial disclosures as part of the EU’s CSRD.
While some companies are well aware of and prepared for this new requirement, many are still unaware of the requirements, the amount of investment in time and resources necessary to complete, and the level of coordination that will be necessary to engage with all of its internal and external stakeholders.
Furthermore, companies that don’t start to plan, budget, and take proactive steps to get ready, will find themselves disrupted mid-year by the demands of this directive while missing out on the opportunity to actually create business value out of this effort.
This step will not be a trivial one and will require careful planning, coordination across all company stakeholders, and strategic prioritization and decision making. However, if tackled with the right frame of mind and perspective, the CSRD’s requirements present a great opportunity for companies to go beyond compliance, and refine their vision of the future, their strategy to win in the market, having clear and measurable strategic priorities and goals, gathering and acting on meaningful insights from stakeholders, mitigating risks, and adapting to a market landscape that’s changing rapidly.
Learn whether your company falls within the scope of this new directive, what the requirements are, what it will take to implement, and recommendations for how best to maximize business value from this important initiative in 2024.
Download our CSRD Guide to understand:
Whether your company falls within the scope of this directive
The reporting requirements
The scope of the effort and investment required
The recommended approach to take to successfully implement the report and gain the most value out of the process