What does CSRD actually mean?

The so-called Corporate Sustainability Reporting Directive EU 2022/2464 (CSRD), which came into force at the beginning of January 2023, stipulates the date from which companies are obliged to prepare a sustainability report. As this is a directive, it must be transposed into national legislation by around mid-2024. Sustainability reporting includes a range of information, such as how the sustainability goals are reflected in the corporate strategy, explanations of the climate protection measures introduced or “a description of the most significant actual or potential negative impacts associated with the company’s business activities”. For financial years starting from 1 January 2025, for example, all large companies – in line with the EU’s definition of size – must include such a declaration in their reporting. According to estimates by renowned consulting firms, around 50,000 companies in Europe will then be affected by the reporting obligation, which together account for around 75% of the total turnover of European companies.

What needs to be done? The first step is to determine the extent to which your own company is affected by the reporting obligation. Then a concept needs to be developed on which to base the reporting. This depends heavily on the company itself. Are supply chains used that need to be analysed? What approach must be used to analyse the company’s emissions? What does the application of double materiality mean for the company in concrete terms?
Answering many such questions creates a basic framework into which the information for a report then flows. Of course, the principle of “as much as necessary, as little as possible” also applies here. Our aim is to structure your sustainability reporting in such a way that it fulfils the required reporting obligations in all respects and can still be implemented easily and without great effort.

We look forward to engaging in dialogue with you and addressing your challenges.
Sustainably, for your success!