CSRD – A complete solution

Corporate Sustainability Reporting Directive (CSRD) Reporter

Mandatory reporting

The Corporate Sustainability Reporting Directive (CSRD), proposed by the European Financial Reporting Advisory Group (EFRAG), was adopted in July 2023. Implementation will begin in January 2024 for the reporting year 2025. Reporting will be on a rolling basis depending on the size and location of companies.

In 2025, 50,000 European companies will have to comply with the CSRD. One of the key aspects of the CSRD is the concept of “double materiality”. Double materiality refers to the intersection of issues that hold economic significance for a company and those that are pertinent to external stakeholders.

Seamless integration

ESG Playbook’s CSRD Reporter is included in the ESG Report Builder so companies can mix and match their reporting frameworks. The CSRD Reporter is also integrated with the Double Materiality Assessment for seamless material topic selection.

Features

  • Extensive guidance on the regulation

  • Ability to add additional frameworks to report

  • Master mapping to other frameworks

  • Gap analysis on key policies, targets & KPIs

  • Automatic flow of topics from Double Materiality Assessment to report

  • Project Management for users

CSRD Dashboard

Double materiality defined

Double materiality is a concept which provides criteria for determination of whether a sustainability topic or information has to be included in the undertaking’s sustainability report.

Double materiality is the union (in mathematical terms, i.e. union of two sets, not intersection) of impact materiality and financial materiality. A sustainability topic or information meets therefore the criteria of double materiality if it is material from the impact perspective or from the financial perspective or from both of these two perspectives.

Source: ESRS

CSRD vs NFRD

The CSRD will replace the existing Non-Financial Reporting Directive (NFRD) that has been in effect since 2018. Similar to the NFRD, the CSRD outlines reporting obligations for companies regarding environmental, social, and governance (ESG) aspects.

Its objective is to substantially broaden the scope of the NFRD, expanding both the reporting entities and the required reporting content. In the coming years it is expected that the CSRD will roll out industry sector-specific reports and reporting for companies operating in the EU, who will also have to report.