On January 5, 2023, the Corporate Sustainability Reporting Directive (CSRD) came into force across the EU, with almost 50,000 companies impacted.
The CSRD requires businesses to report on their sustainability performance in a more comprehensive and consistent way, which can be challenging for a number of reasons:
- Data collection and management: Gathering and managing large amounts of sustainability data (up to a thousand indicators) from various sources can be complex and time-consuming.
- Reporting scope and materiality: Determining the relevant environmental, social, and governance (ESG) factors that are material to the business and stakeholders can be challenging, as it varies across industries.
- The high number of stakeholders involved: Aligning sustainability goals with overall business strategies can be difficult, particularly as there are many stakeholders and teams involved in the reporting process.
- Electronic report submission: You need software to publish your compliance report in a digital format.
Want to make sure you’re compliant? Join us to find out all you need to know – including the timeline for implementation, the data you need to prepare, and where to report.
- What’s the objective of this new regulation?
- What's the adoption and implementation process for this directive?
- How can Sweep for Compliance help get your carbon and ESG data ready for regulatory compliance disclosure?