Corporate Sustainability Reporting Directive services
Expert advisory and platform solutions to prepare for the Corporate Sustainability Reporting Directive (“CSRD”).
- Legal counsel
- Training
- Assessments
- Implementation
- Reporting
The EU CSRD will require many companies to start reporting on their sustainability efforts.
We can provide CSRD support from start to finish, through a collection of advisory and platform solutions.
CSRD phasing is planned as follows:
2023
CSRD came into force
2025
Companies already subject to NFRD. Reporting over FY24.
2026
All large companies meeting 2 or 3 requirements: 250+ employees; €50M+ revenue; €25M+ total assets. Reporting over FY25.
2027
Listed SMEs meeting 2 or 3 requirements: +10 employees; €0.7M+ revenue; €0.35M+ total assets. Reporting over FY26.
2029
All non-EU companies with €150M+ revenue in EU for each of the past 2 consecutive FYs and at least 1 large (see 2026) or listed subsidiary in EU with €50M+ revenue Reporting over FY28.
Timeline for company CSRD alignment
Preparing for the CSRD is a complex, multi-year undertaking. We recommend you follow this timeline:
Reporting in 2026 over 2025
Stage 1:
Preparation: 3-6 months
Preparation
Legal entity scoping
Determining the applicability of CSRD requirements can be complex and is likely to necessitate careful review with early involvement of legal counsel.
Training
Training is needed for key internal stakeholders to understand the basics of the CSRD, timelines, reporting requirements, and implications for the business and to get adequate company engagement.
Double materiality assessment
Determine which sustainability topics and sub-topics are deemed as material and should be reported on. Materiality is be determined by looking at both impact and financial materiality.
Gap analysis & roadmap
Following the DMA, the gap analysis involves the evaluation of current reporting practices against the CSRD requirements to identify key gaps. The output should be a roadmap towards alignment.
Stage 2:
Alignment: 3-6 months
Alignment
Build data infrastructure
After conducting the gap analysis, the organization should establish the necessary data infrastructure to enable annual monitoring reporting on CSRD.
“Dry-run” with auditor
To prevent assurance issues, conduct a dry run with the auditor before the official deadline to address any gaps or discrepancies in advance.
Final sprint
Incorporating feedback from the auditor and completing the final steps of the gap analysis roadmap.
Stage 3:
Annual reporting
Ready and report
Gather data for FY
Gather sustainability data for the financial year when CSRD comes into effect.
Report on FY
Incorporate all sustainability information into the CSRD report for the financial year and undergo the assurance process.
Services
We will assist you throughout all stages of the CSRD alignment process, including:
Legal entity in scope:
Determining the applicability of CSRD requirements can be complex and may require careful review with early involvement of legal counsel.
Training:
Our subject-matter experts can provide you with valuable training on CSRD, including the practicality and applicability of reporting requirements to initiate knowledge development at companies and GPs.
Double materiality assessment:
CSRD requires reporting on sustainability based on the principle of double materiality (impact and financial). Based on our in-house methodology, we can offer you a tailored approach.
Disclosure Requirement materiality assessment:
Following the double materiality assessment, we identify the Disclosure Requirements and distinct data points to report on.
Gap analysis and roadmap:
We evaluate your current reporting practices against the CSRD requirements to identify key gaps. This analysis results in an actionable roadmap towards alignment.
Modular implementation support:
We provide tailored support to achieve CSRD alignment per material topic. This could be a carbon footprint assessment, policy creation, and/or target setting.
Reporting:
With the help of subject-matter experts and platform support, we support your reporting process and deliver a CSRD report ready for audit.
