The objective of the CSRD (Corporate Sustainability Reporting Directive) is to establish uniform European Sustainability Reporting Standards (ESRS) and thereby improve the quality of reporting, comparability of data and reliability of disclosures.
Reported non-financial data will be audited and board members will face the same consequences for failures in this area as for financial data. Working with an experienced team of advisors reduces risks and builds competence within the company.
Who is covered by CSRD-compliant reporting?
In 2025, the largest entities whose average annual employment exceeds 500 employees and are public interest entities will present their reports. Already in 2025, the reporting obligation (reports to be published in 2026) will include companies meeting two of the three criteria: employing 250 people or more, €50 million in net revenue or total assets exceeding €25 million. In subsequent years, changes to the criteria will bring smaller and smaller entities into the new obligations.
We have unique experience in preparing companies for the new disclosure standard. We work with both the largest companies listed on the Stock Exchange and smaller companies that have decided in advance to implement knowledge and processes internally.
We have had the opportunity to verify our approach to delivering this type of project with major audit firms.
Dual materiality analysis
Implementing CSRD-compliant reporting is a complex process, the outcome of which largely depends on the quality of the first, key stage – the dual materiality analysis. It involves an in-depth analysis of all the key aspects of the company’s operations – the business model, the value chain and, importantly, the interaction with the environment. Potential risks and opportunities are also identified.
IRO = impact + risks + opportunities.
These tasks are carried out by our team on the basis of materials provided by the client and the conclusions of meetings and workshops. The results of the dual relevance analysis are – first and foremost – the ESRS thematic list and the report outline.
The dual materiality analysis process can be a turning point in building a mature organisation aware of the importance of diverse development. It helps to build sustainable ESG teams internally, significantly increases ESG knowledge and engagement (including among board members and key managers) and, very importantly, builds awareness of the risks and business opportunities that accompany an inappropriate de-prioritised approach to ESG internally.
The dual materiality analysis is an essential reporting step, but it is also the starting point for:
- The process of developing an ESG strategy and accompanying KPIs
- The process of completing internal policies and regulations
- The process of raising finance through green instruments (bonds, loans)
Sustainability report in accordance with the CSRD and ESRS Standards
Our support covers the entire process of creating the report – from the aforementioned double materiality analysis to the release of the report as a PDF file or online report.
One of our main market advantages is access to digital tools to support data collection. Through partnerships and our own Digital Department, we help automate processes and ensure the quality of the indicators collected. Based on the outline prepared as part of the materiality analysis, we develop valuable content that remains in line with the guidelines but also meets the needs of a wide range of stakeholders – including ESG analysts.