COMPLIANCE

EU Corporate Sustainability Reporting Directive (CSRD)

The European Union's CSRD is a comprehensive regulation that requires companies to report on their environmental, social, and governance impacts.

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Last updated: 2 October 2024

What is the EU's CSRD?

Mandatory Reporting

CSRD is EU legislation aimed at improving and standardizing companies' reporting of sustainability information, as part of the EU's move to a great, sustainable economy.

Affected Entities

CSRD affects 50,000 companies, also creating reporting obligations for certain foreign entities with operations in the EU at both a consolidated parent and EU-subsidiary level.

Materiality Required

A double materiality assessment is required under the CSRD. Your company will need to identify its material sustainability impacts, risks, and opportunities following CSRD's double materiality process.
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Who is Affected by CSRD?

The CSRD targets financial and non-financial companies that fall into the following categories:
Companies listed on European regulated markets, including listed SMEs
Other large European companies, listed or not, exceeding two of the three defined thresholds (250 employees, 40 million euros in revenue, and/or 20 million euros in total assets)
Non-European companies whose subsidiaries or branches have revenues exceeding 150 million euros within the EU.

CSRD Implementation Timeline

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Compliance

CSRD Compliance Requirements

CSRD requires large and listed companies to report on a comprehensive set of Environmental, Social, and Governance (ESG) metrics.
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Comprehensive Double Materiality reporting

Companies must conduct a comprehensive double materiality assessment to identify and prioritize environmental, social, and governance matters.

Adherence to European Sustainability Reporting Standards (ESRS)

Companies must prepare their reports according to the ESRS's detailed guidelines on what ESG information should be disclosed

Digital reporting and accessibility

Reports must be prepared in a digital format, making sustainability information easily accessible and comparable

Third-party assurance

CSRD mandates that sustainability reports undergo independent third-party assurance to verify accuracy and reliability

Integration into management report

Sustainability disclosures must be integrated into the management report to ensure ESG is being embedded into core strategic management processes

Regular updates and continuous improvement

Companies are required to regularly update their sustainability disclosures and continuously improve their reporting processes in line with evolving standards and stakeholder expectations

Our CSRD Double Materiality Process

Our hybrid approach of streamlined software and expert advisory delivers you a best-practice CSRD-aligned double materiality solution.

Context Setting

Business case, requirements, document review

Engagement Plan

Plan how and when to engage with stakeholders

Value Chain

Identify Business activities to map full value chain

Stakeholder Mapping

Identify, group, and map stakeholders in the value chain

Topics & Preliminary IROs

Use ESRS topics to identify IROs in the value chain

Impacts

Engage affected stakeholders for feedback on impacts

Risks & Opportunities

Engage relevant stakeholders for feedback on IROs

Analysis & Scoring

Analyze engagement data and scoring of IROs

Review & Approval

Share material IROs with stakeholders, get Board approval

Disclosure

Report material IROs and topics with assessment process documentation
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Double Materiality in the New Era of CSRD Reporting

Learn how and why the EU’s CSRD is pushing materiality assessments into a new era of robust requirements that are widely viewed as the new reporting Gold Standard.

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