CSRD | Sustainability reporting
The Corporate Sustainability Reporting Directive (CSRD) is a new EU regulation that requires companies to regularly publish reports on their environmental, social and sustainability efforts. The aim is to enable investors, consumers, and decision-makers to assess a company's sustainability performance – just as they do financially.
Who does the csrd apply to?
The reporting requirement is updated continuously and will include more and more companies.
Even if a company is not directly covered by the reporting requirement at present, it can be indirectly involved. If partners are covered, they seek information and make demands further through the value chain. The CSRD not only covers the individual company, but also e.g. the company’s chain of sub-suppliers.
how do we report on sustainability?
It is our recommendation that you start by planning how to approach the process. The right prioritisation ensures that you do not go down the wrong track and end up wasting your resources. Bureau Veritas can help you with e.g.:
- Data collection and structuring
- Calculation methods
- How you can involve stakeholders
- And how to ensure a good management system
start with a clarification meeting
Feel free to contact us if you lack knowledge, an overview, and a clarification of where you are now and how best to get started with the very extensive task of reporting. That is what we are here for.
Tomas Jørgensen, Business Developer Sustainability
Phone: +45 2684 4199 | Mail: tomas.jorgensen@bureauveritas.com
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the 3 first steps
The reporting is very comprehensive and therefore, we have divided the process into 12 steps. The most important first steps are:
- Make sure you get the management's support and commitment in the departments which are key to achieving the reporting goal. The process requires time and collaboration between different employees within e.g. finance, operations, HR, sales, product development and sustainability, and there will be 'bumps' on the road.
- Determine the organisation you wish to report from. This includes both your own organisation, but also your value chain. When it comes to sustainability, it is the company that places the product or service on the market which is responsible for the entire value chain.
- Get an overview of the information you already have. If you base your work on what you already have, you avoid doing the same things twice in the future. Also look at the guidelines within your sector: What is important for that sector?
where can you get help?
At Bureau Veritas, we have a specialist team of sustainability experts (engineers and professionals) working globally. We have a unique understanding and insight that we are happy to make available, both through consultancy, but also through qualifying webinars and courses. Remember to sign up for our newsletter, Wake Up⏰, so you can continually gain knowledge about the area.
We also offer various tools, including:
- GAP analyses which compare company practices and sustainability goals against the known CSRD requirements to clarify any shortcomings.
- Verifications and validations of sustainability data in connection with voluntary declarations, NFRD, which will also apply to the CSRD in the future.
- Training in CSRD and sustainability reporting.
Our impartiality gives our clients a peace of mind.