The European Commission’s new Corporate Sustainability Reporting Directive (CSRD) signals a significant shift in sustainability reporting practices. Learn more about whether you are affected, the six steps you have to take to translate the new requirements into action, and how we can support you on the way.
What’s Happening
The CSRD significantly changes how companies disclose sustainability efforts. It mandates reporting for a wider range of companies, moving from voluntary to compulsory disclosure. This impacts companies of all sizes, from large corporations to medium-sized enterprises and supply chain partners.
This shift requires immediate attention and strategic planning to ensure compliance and seize the opportunities it offers. Essentially, the CSRD is not just about compliance—it’s about shaping the future of sustainable business practices in the EU. It presents an opportunity for companies to demonstrate their commitment to sustainability, enhance their reputation, and stay competitive in an increasingly environmentally and socially conscious market.
What It Means for Companies
The CSRD broadens the scope of companies covered by sustainability reporting and transitions from voluntary to mandatory disclosure. Companies will now be held accountable for their sustainability efforts in a more transparent and standardized manner. Utilizing the European Sustainability Reporting Standards (ESRS) framework, companies will need to provide comprehensive and reliable sustainability information, ensuring consistency and comparability in reporting.
How We Can Support You
At ELFIN Consulting GmbH, we’re dedicated to guiding you through this transition. Our team of sustainability and communications specialists offers tailored support to enhance sustainability performance and ensure compliance with the new reporting regulations. In our CSRD Guide, we give you an overview of the six steps that must be taken to make the transition to CSRD reporting a full success. We can support you with the whole package or assist at any stage of the process.
Reach Out for More Information
For further details on how we can support your company in complying with the CSRD and maximizing the benefits of sustainable reporting, reach out to Dr. Michael Kühnen or Cansu Gedik.
And don’t forget to download our comprehensive CSRD Guide for a deep dive into the changes.